Funding you earn now, next payment 00:00 UTC−0.0020%/8h= −2.1% APRnext payment −$0.10 per $10,000 · paid last 24h 0.000%
Price spread now: BloFin against Bybit−0.075%112s7-day average +0.021% · you buy dearer than you sell
Net, funding: paid 7d − costs−$57as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$900.897% of the position
Funding, last 7 days+0.325%+$32 on $10k
+Price spread, last 3 days (all we have)−0.331%−$33 · spread now −0.075%, 7d avg +0.021%
=Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and BloFin is 0.096% cheaper against Bybit than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of +0.021%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.325%, so the current rate has only just turned against you. The two prices were read 112 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit CAKEUSDT | 2.5450 | 0.0100 | pay 0.0050% / 4h | 2h 45m | $5.3M | $4.2M | 50x |
| Short | BloFin CAKE-USDT | 2.5431 | 0.0080 | get 0.0040% / 4h | 2h 45m | $996K | $347K | 75x |
Bybit CAKEUSDT
BloFin CAKE-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BloFin against Bybit. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$4.12
- Price spread: −0.075% → +0.021%
- −$9.56
- Slippage, 4 orders
- −$66.72
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- −$103.39
- Costs to cover
- 0.897%
- Break-even
- never at this rate
Slippage from Bybit: live order book, 2 min ago; BloFin: live order book, 41 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 | 3.93 bp | 28.9 bp −$29 | 54.2 bp −$542 | doesn't fit | doesn't fit |
| Sell BloFin live order book, 41 min ago | 0.78 bp | 11.7 bp −$12 | 23.6 bp −$236 | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_CAKE_USDC | +0.0006% | 4h | 2.5456 | +0.024% | $7K | $14K | 10x | as long as short |
| Injective CAKE/USDC PERP | +0.0033% | 1h | 2.5440 | −0.039% | $113 | $52K | 5.5x | as long as short |
| BloFin CAKE-USDTshort | +0.0080% | 4h | 2.5431 | −0.075% | $996K | $347K | 75x | |
| Hyperliquid CAKE | +0.0100% | 1h | 2.5489 | +0.153% | $3.1M | $3.3M | 3x | as long as short |
| Aster CAKEUSDT | +0.0100% | 4h | 2.5466 | +0.061% | $2.4M | $99K | 10x | as long as short |
| Binance CAKEUSDT | +0.0100% | 4h | 2.5456 | +0.023% | $18.2M | $39.2M | 75x | as long as short |
| Bybit CAKEUSDTlong | +0.0100% | 4h | 2.5450 | long leg | $5.3M | $4.2M | 50x | |
| Gate CAKE_USDT | +0.0100% | 4h | 2.5442 | −0.031% | $887K | $858K | 75x | as long as short |
| MEXC CAKE_USDT | +0.0100% | 4h | 2.5457 | +0.028% | $14.2M | $2.9M | 125x | as long as short |
| KuCoin CAKEUSDTM | +0.0100% | 4h | 2.5464 | +0.055% | $2.5M | $5.7M | 50x | as long as short |
Orderly PERP_CAKE_USDC
Injective CAKE/USDC PERP
Hyperliquid CAKE
Aster CAKEUSDT
Binance CAKEUSDT
Gate CAKE_USDT
MEXC CAKE_USDT
KuCoin CAKEUSDTMShow all 16 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget CAKEUSDT | +0.0100% | 4h | 2.5462 | +0.047% | $2.7M | $3.0M | 75x | as long as short |
| BingX CAKE-USDT | +0.0100% | 4h | 2.5455 | +0.020% | — | $3.5M | — | as long as short |
| Variational Omni CAKE | +0.0100% | 4h | 2.5430 | −0.078% | $543K | $497K | — | as long as short |
| ApeX Omni CAKEUSDT | +0.0100% | 1h | 2.5436 | −0.055% | $13K | $696K | 50x | as long as short |
| GMX CAKE/USD [WBTC.b-USDC] | L +0.0420% / S −0.0272% | 1h | 2.5462 | +0.046% | $38K | — | 100x | as long as short |
| Kraken Futures PF_CAKEUSD | +0.0497% | 1h | 2.5502 | +0.206% | $57K | $38K | 10x | as long as short |
Bitget CAKEUSDT
BingX CAKE-USDT
Variational Omni CAKE
ApeX Omni CAKEUSDT
GMX CAKE/USD [WBTC.b-USDC]
Kraken Futures PF_CAKEUSD