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: BingX against Gate+0.056%7-day average −0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs−$103as in the Funding arb table

Net, price: spread back to 7d avg − costs−$85as in the Price arb table

costs, in and out, $10k−$910.909% of the position

Long on Gate Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.121%−$12 on $10k

Price spread, last 4 days (all we have)−0.094%−$9 · spread now +0.056%, 7d avg −0.002%

Together, before fees−0.215%−$21 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: BingX is 0.058% dearer against Gate than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate CAKE_USDT	2.4864	0.0100	pay 0.0050% / 4h	3h 08m	$865K	$637K	75x
Short	BingX CAKE-USDT	2.4878	0.0100	get 0.0050% / 4h	3h 08m	—	$3.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now +0.056%Rate

Funding earned: $0
Price spread: +0.056% → −0.002%: $5.8
Slippage, 4 orders: −$65.92
Fee Gate: 7.5 bp × 2 orders: −$15
Fee BingX: 5 bp × 2 orders: −$10
Net: −$85.12
Costs to cover: 0.909%
Break-even: never at this rate

Slippage from Gate: live order book, 43 min ago; BingX: live order book, 11 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 BingX live order book, 11 min ago	3.81 bp	9.0 bp −$9	10.9 bp −$109	21.6 bp −$2,162	43.6 bp −$21.8K

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	+0.286%	$10K	$678K	50x	as long as short
Bybit CAKEUSDT	−0.0042%	4h	2.4873	+0.036%	$5.2M	$3.5M	50x	as long as short
Orderly PERP_CAKE_USDC	−0.0005%	4h	2.4882	+0.072%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	+2.317%	$113	$52K	5.5x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.4908	+0.177%	$3.1M	$2.2M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.4892	+0.113%	$2.3M	$78K	10x	as long as short
Binance CAKEUSDT	+0.0100%	4h	2.4881	+0.068%	$17.7M	$31.0M	75x	as long as short
Gate CAKE_USDTlong	+0.0100%	4h	2.4864	long leg	$865K	$637K	75x
MEXC CAKE_USDT	+0.0100%	4h	2.4878	+0.056%	$13.2M	$2.8M	125x	as long as short
KuCoin CAKEUSDTM	+0.0100%	4h	2.4877	+0.052%	$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	2.4893	+0.117%	$2.5M	$2.4M	75x	as long as short
BingX CAKE-USDTshort	+0.0100%	4h	2.4878	+0.056%	—	$3.8M	—
Variational Omni CAKE	+0.0100%	4h	2.4905	+0.166%	$510K	$470K	—	as long as short
BloFin CAKE-USDT	+0.0124%	4h	2.4872	+0.032%	$987K	$352K	75x	as long as short
Kraken Futures PF_CAKEUSD	+0.0354%	1h	2.4918	+0.218%	$52K	$38K	10x	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0415% / S −0.0269%	1h	2.4897	+0.133%	$37K	—	100x	as long as short