Funding arb · Price arb /

CAKE

all CAKE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Binance against Bybit+0.080%7-day average +0.021% · you sell dearer than you buy

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$570.567% of the position

Long on Bybit Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.186%+$19 on $10k

Price spread, last 7 days−0.091%−$9 · spread now +0.080%, 7d avg +0.021%

Together, before fees+0.095%+$9 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Binance is 0.059% dearer against Bybit than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of +0.021%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit CAKEUSDT	2.5100	0.0100	pay 0.0050% / 4h	31m 09s	$5.2M	$3.6M	50x
Short	Binance CAKEUSDT	2.5120	0.0100	get 0.0050% / 4h	31m 09s	$17.9M	$31.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Bybit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BybitbpFee BinancebpOrdersPrice spread, now +0.080%Rate

Funding earned: $0
Price spread: +0.080% → +0.021%: $5.88
Slippage, 4 orders: −$35.66
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Binance: 5 bp × 2 orders: −$10
Net: −$50.77
Costs to cover: 0.567%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; Binance: live order book, 10 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Bybit live order book, 2 min ago	1.99 bp	18.1 bp −$18	50.9 bp −$509	doesn't fit	doesn't fit
Sell Binance live order book, 10 min ago	0.80 bp	11.7 bp −$12	29.8 bp −$298	136.9 bp −$13.7K	doesn't fit

CAKE on 16 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni CAKEUSDT	−0.0003%	1h	2.5092	−0.032%	$11K	$678K	50x	as long as short
Orderly PERP_CAKE_USDC	+0.0017%	4h	2.5113	+0.052%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	+1.355%	$113	$52K	5.5x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5148	+0.191%	$3.1M	$2.5M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.5130	+0.119%	$2.4M	$79K	10x	as long as short
Binance CAKEUSDTshort	+0.0100%	4h	2.5120	+0.080%	$17.9M	$31.2M	75x
Bybit CAKEUSDTlong	+0.0100%	4h	2.5100	long leg	$5.2M	$3.6M	50x
Gate CAKE_USDT	+0.0100%	4h	2.5121	+0.084%	$875K	$642K	75x	as long as short
MEXC CAKE_USDT	+0.0100%	4h	2.5112	+0.048%	$13.4M	$2.9M	125x	as long as short
KuCoin CAKEUSDTM	+0.0100%	4h	2.5125	+0.100%	$2.4M	$5.4M	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget CAKEUSDT	+0.0100%	4h	2.5139	+0.155%	$2.6M	$2.3M	75x	as long as short
BingX CAKE-USDT	+0.0100%	4h	2.5100	0.000%	—	$3.8M	—	as long as short
Variational Omni CAKE	+0.0100%	4h	2.5096	−0.017%	$521K	$469K	—	as long as short
BloFin CAKE-USDT	+0.0134%	4h	2.5098	−0.008%	$998K	$367K	75x	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0417% / S −0.0269%	1h	2.5137	+0.146%	$37K	—	100x	as long as short
Kraken Futures PF_CAKEUSD	+0.0748%	1h	2.5131	+0.124%	$53K	$38K	10x	as long as short