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: MEXC against Bybit+0.048%7-day average +0.022% · you sell dearer than you buy

Net, funding: paid 7d − costs−$35as in the Funding arb table

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

costs, in and out, $10k−$540.540% of the position

Long on Bybit Short on MEXC

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−0.039%−$4 · spread now +0.048%, 7d avg +0.022%

Together, before fees+0.147%+$15 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: MEXC is 0.026% dearer against Bybit than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.022%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit CAKEUSDT	2.5144	0.0100	pay 0.0050% / 4h	2h 05m	$5.3M	$3.7M	50x
Short	MEXC CAKE_USDT	2.5156	0.0100	get 0.0050% / 4h	2h 05m	$13.7M	$2.9M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.048%Rate

Funding earned: $0
Price spread: +0.048% → +0.022%: $2.61
Slippage, 4 orders: −$39.03
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$51.43
Costs to cover: 0.540%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; MEXC: live order book, 3 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	22.5 bp −$23	72.4 bp −$724	doesn't fit	doesn't fit
Sell MEXC live order book, 3 min ago	1.59 bp	6.4 bp −$6	34.2 bp −$342	113.5 bp −$11.3K	doesn't fit

CAKE on 15 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	+0.0013%	4h	2.5160	+0.064%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	+1.177%	$113	$52K	5.5x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5174	+0.119%	$3.1M	$2.6M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.5173	+0.115%	$2.4M	$76K	10x	as long as short
Binance CAKEUSDT	+0.0100%	4h	2.5156	+0.047%	$17.9M	$33.3M	75x	as long as short
Bybit CAKEUSDTlong	+0.0100%	4h	2.5144	long leg	$5.3M	$3.7M	50x
Gate CAKE_USDT	+0.0100%	4h	2.5135	−0.036%	$876K	$673K	75x	as long as short
MEXC CAKE_USDTshort	+0.0100%	4h	2.5156	+0.048%	$13.7M	$2.9M	125x
KuCoin CAKEUSDTM	+0.0100%	4h	2.5151	+0.028%	$2.4M	$5.5M	50x	as long as short
Bitget CAKEUSDT	+0.0100%	4h	2.5169	+0.099%	$2.6M	$2.4M	75x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX CAKE-USDT	+0.0100%	4h	2.5148	+0.016%	—	$3.6M	—	as long as short
Variational Omni CAKE	+0.0100%	4h	2.5136	−0.033%	$533K	$459K	—	as long as short
ApeX Omni CAKEUSDT	+0.0100%	1h	2.5159	+0.060%	$11K	$681K	50x	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0417% / S −0.0269%	1h	2.5166	+0.089%	$37K	—	100x	as long as short
Kraken Futures PF_CAKEUSD	+0.0833%	1h	2.5157	+0.053%	$54K	$37K	10x	as long as short