Funding arb · Price arb /

CAKE

all CAKE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Binance against Gate−0.120%7-day average +0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$90as in the Funding arb table

Net, price: spread back to 7d avg − costs−$105as in the Price arb table

costs, in and out, $10k−$920.920% of the position

Long on Gate Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.022%+$2 on $10k

Price spread, last 4 days (all we have)+0.179%+$18 · spread now −0.120%, 7d avg +0.012%

Together, before fees+0.201%+$20 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: Binance is 0.132% cheaper against Gate than usual: you would sell low and buy high, −$13 on $10k if it goes back to its 7-day average of +0.012%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate CAKE_USDT	2.4903	0.0100	pay 0.0050% / 4h	3h 09m	$866K	$637K	75x
Short	Binance CAKEUSDT	2.4873	0.0100	get 0.0050% / 4h	3h 09m	$17.7M	$31.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.120%Rate

Funding earned: $0
Price spread: −0.120% → +0.012%: −$13.24
Slippage, 4 orders: −$67.01
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Binance: 5 bp × 2 orders: −$10
Net: −$105.26
Costs to cover: 0.920%
Break-even: never at this rate

Slippage from Gate: live order book, 43 min ago; Binance: live order book, 2 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, 43 min ago	4.79 bp	39.5 bp −$39	151.7 bp −$1,517	doesn't fit	doesn't fit
Sell Binance live order book, 2 min ago	0.20 bp	10.6 bp −$11	25.6 bp −$256	131.0 bp −$13.1K	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
ApeX Omni CAKEUSDT	−0.0086%	1h	2.4935	+0.128%	$10K	$678K	50x	as long as short
Bybit CAKEUSDT	−0.0066%	4h	2.4873	−0.120%	$5.2M	$3.5M	50x	as long as short
Orderly PERP_CAKE_USDC	−0.0005%	4h	2.4882	−0.084%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	+2.156%	$113	$52K	5.5x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.4908	+0.020%	$3.1M	$2.2M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.4895	−0.030%	$2.3M	$78K	10x	as long as short
Binance CAKEUSDTshort	+0.0100%	4h	2.4873	−0.120%	$17.7M	$31.0M	75x
Gate CAKE_USDTlong	+0.0100%	4h	2.4903	long leg	$866K	$637K	75x
MEXC CAKE_USDT	+0.0100%	4h	2.4875	−0.112%	$13.2M	$2.8M	125x	as long as short
KuCoin CAKEUSDTM	+0.0100%	4h	2.4875	−0.112%	$2.4M	$5.4M	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	2.4896	−0.028%	$2.5M	$2.4M	75x	as long as short
BingX CAKE-USDT	+0.0100%	4h	2.4875	−0.112%	—	$3.8M	—	as long as short
Variational Omni CAKE	+0.0100%	4h	2.4905	+0.010%	$510K	$470K	—	as long as short
BloFin CAKE-USDT	+0.0124%	4h	2.4872	−0.124%	$987K	$352K	75x	as long as short
Kraken Futures PF_CAKEUSD	+0.0354%	1h	2.4918	+0.062%	$52K	$38K	10x	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0415% / S −0.0269%	1h	2.4897	−0.024%	$37K	—	100x	as long as short