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: Gate against Bybit+0.079%7-day average +0.017% · you sell dearer than you buy

Net, funding: paid 7d − costs−$100as in the Funding arb table

Net, price: spread back to 7d avg − costs−$111as in the Price arb table

costs, in and out, $10k−$1181.176% of the position

Long on Bybit Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.172%+$17 on $10k

Price spread, last 4 days (all we have)−0.168%−$17 · spread now +0.079%, 7d avg +0.017%

Together, before fees+0.005%$0 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: Gate is 0.063% dearer against Bybit than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of +0.017%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit CAKEUSDT	2.5160	0.0100	pay 0.0050% / 4h	1h 20m	$5.3M	$3.6M	50x
Short	Gate CAKE_USDT	2.5180	0.0100	get 0.0050% / 4h	1h 20m	$878K	$649K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.079%Rate

Funding earned: $0
Price spread: +0.079% → +0.017%: $6.28
Slippage, 4 orders: −$91.58
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$111.3
Costs to cover: 1.176%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; Gate: 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	1.99 bp	26.9 bp −$27	73.8 bp −$738	doesn't fit	doesn't fit
Sell Gate live order book, 41 min ago	2.79 bp	31.9 bp −$32	96.7 bp −$967	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	+0.0012%	4h	2.5173	+0.052%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	+1.113%	$113	$52K	5.5x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5190	+0.119%	$3.1M	$2.5M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.5186	+0.102%	$2.4M	$72K	10x	as long as short
Binance CAKEUSDT	+0.0100%	4h	2.5170	+0.040%	$18.0M	$31.5M	75x	as long as short
Bybit CAKEUSDTlong	+0.0100%	4h	2.5160	long leg	$5.3M	$3.6M	50x
Gate CAKE_USDTshort	+0.0100%	4h	2.5180	+0.079%	$878K	$649K	75x
MEXC CAKE_USDT	+0.0100%	4h	2.5168	+0.032%	$13.7M	$2.9M	125x	as long as short
KuCoin CAKEUSDTM	+0.0100%	4h	2.5175	+0.060%	$2.5M	$5.5M	50x	as long as short
Bitget CAKEUSDT	+0.0100%	4h	2.5181	+0.083%	$2.6M	$2.3M	75x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX CAKE-USDT	+0.0100%	4h	2.5177	+0.068%	—	$3.7M	—	as long as short
Variational Omni CAKE	+0.0100%	4h	2.5160	+0.001%	$522K	$470K	—	as long as short
ApeX Omni CAKEUSDT	+0.0100%	1h	2.5166	+0.024%	$11K	$682K	50x	as long as short
BloFin CAKE-USDT	+0.0123%	4h	2.5169	+0.036%	$994K	$368K	75x	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0416% / S −0.0269%	1h	2.5176	+0.065%	$37K	—	100x	as long as short
Kraken Futures PF_CAKEUSD	+0.1551%	1h	2.5189	+0.115%	$54K	$37K	10x	as long as short