Funding arb · Price arb /

CAKE

all CAKE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0650%/8h= +71.2% APRpaid last 24h +0.263%

Price spread now: Kraken Futures against Bybit+0.116%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Bybit Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.861%+$86 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$20 a day on $10k at the current rate, and Kraken Futures is 0.116% dearer against Bybit than usual: you sell high and buy low: +$12 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit CAKEUSDT	2.5573	0.0100	pay 0.0050% / 4h	53m 21s	$5.3M	$3.9M	50x
Short	Kraken Futures PF_CAKEUSD	2.5603	0.0750	get 0.0094% / 1h	53m 21s	$57K	$37K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.116%Rate

Funding earned: $136.51
Price spread: +0.116% → 0.000%: $11.57
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $127.08
Costs to cover: 0.210%
Break-even: 0.5 days

Slippage unknown: Bybit: live order book, 4 min ago; Kraken Futures: no order-book sample. Net counts fees only.

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, 4 min ago	3.91 bp	19.5 bp −$20	51.1 bp −$511	doesn't fit	doesn't fit
Sell Kraken Futures no order-book sample	—	—	—	—	—

Kraken Futures: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	+0.0026%	4h	2.5584	+0.043%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	−0.520%	$113	$52K	5.5x	as long as short
ApeX Omni CAKEUSDT	+0.0048%	1h	2.5572	−0.004%	$13K	$699K	50x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5627	+0.211%	$3.2M	$2.7M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.5597	+0.095%	$2.4M	$80K	10x	as long as short
Binance CAKEUSDT	+0.0100%	4h	2.5582	+0.035%	$18.4M	$36.4M	75x	as long as short
Bybit CAKEUSDTlong	+0.0100%	4h	2.5573	long leg	$5.3M	$3.9M	50x
Gate CAKE_USDT	+0.0100%	4h	2.5570	−0.012%	$894K	$751K	75x	as long as short
MEXC CAKE_USDT	+0.0100%	4h	2.5580	+0.027%	$14.1M	$2.7M	125x	as long as short
KuCoin CAKEUSDTM	+0.0100%	4h	2.5594	+0.082%	$2.5M	$5.7M	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	2.5603	+0.117%	$2.7M	$2.7M	75x	as long as short
BingX CAKE-USDT	+0.0100%	4h	2.5577	+0.016%	—	$3.6M	—	as long as short
Variational Omni CAKE	+0.0100%	4h	2.5562	−0.045%	$536K	$480K	—	as long as short
BloFin CAKE-USDT	+0.0107%	4h	2.5561	−0.047%	$998K	$364K	75x	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0421% / S −0.0272%	1h	2.5595	+0.087%	$38K	—	100x	as long as short
Kraken Futures PF_CAKEUSDshort	+0.0750%	1h	2.5603	+0.116%	$57K	$37K	10x