Funding arb · Price arb /

CAKE

all CAKE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.011%

Price spread now: ApeX Omni against Gate+0.283%96s7-day average +0.051% · you sell dearer than you buy

Net, funding: paid 7d − costs−$117as 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−$1031.029% of the position

Long on Gate Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.140%−$14 on $10k

Price spread, last 3 days (all we have)−0.222%−$22 · spread now +0.283%, 7d avg +0.051%

Together, before fees−0.362%−$36 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: ApeX Omni is 0.233% dearer against Gate than usual: you sell high and buy low, +$23 on $10k if it goes back to its 7-day average of +0.051%. The two prices were read 96 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	Gate CAKE_USDT	2.5407	0.0100	pay 0.0050% / 4h	1h 51m	$887K	$761K	75x
Short	ApeX Omni CAKEUSDT	2.5479	0.0100	get 0.0013% / 1h	51m 35s	$13K	$698K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Gate. 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 GatebpFee ApeX OmnibpOrdersPrice spread, now +0.283%Rate

Funding earned: $0
Price spread: +0.283% → +0.051%: $23.28
Slippage, 4 orders: −$77.93
Fee Gate: 7.5 bp × 2 orders: −$15
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$79.66
Costs to cover: 1.029%
Break-even: never at this rate

Slippage from Gate: live order book, 30 min ago; ApeX Omni: live order book, 32 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 Gate live order book, 30 min ago	2.15 bp	39.7 bp −$40	101.1 bp −$1,011	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 32 min ago	6.06 bp	13.7 bp −$14	119.9 bp −$1,199	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	+0.0015%	4h	2.5425	+0.071%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	+0.130%	$113	$52K	5.5x	as long as short
BloFin CAKE-USDT	+0.0094%	4h	2.5409	+0.008%	$994K	$354K	75x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5445	+0.150%	$3.1M	$3.3M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.5436	+0.113%	$2.4M	$89K	10x	as long as short
Binance CAKEUSDT	+0.0100%	4h	2.5417	+0.039%	$18.3M	$38.5M	75x	as long as short
Bybit CAKEUSDT	+0.0100%	4h	2.5410	+0.012%	$5.3M	$4.1M	50x	as long as short
Gate CAKE_USDTlong	+0.0100%	4h	2.5407	long leg	$887K	$761K	75x
MEXC CAKE_USDT	+0.0100%	4h	2.5418	+0.043%	$14.2M	$2.8M	125x	as long as short
KuCoin CAKEUSDTM	+0.0100%	4h	2.5438	+0.122%	$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	2.5430	+0.091%	$2.7M	$2.8M	75x	as long as short
BingX CAKE-USDT	+0.0100%	4h	2.5416	+0.035%	—	$3.5M	—	as long as short
Variational Omni CAKE	+0.0100%	4h	2.5433	+0.102%	$542K	$491K	—	as long as short
ApeX Omni CAKEUSDTshort	+0.0100%	1h	2.5479	+0.283%	$13K	$698K	50x
GMX CAKE/USD [WBTC.b-USDC]	L +0.0420% / S −0.0272%	1h	2.5431	+0.094%	$38K	—	100x	as long as short
Kraken Futures PF_CAKEUSD	+0.0776%	1h	2.5475	+0.267%	$57K	$37K	10x	as long as short