Funding arb · Price arb /

CAKE

all CAKE markets

Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Bybit against Gate+0.027%7-day average −0.019% · you sell dearer than you buy

Net, funding: paid 7d − costs−$165as in the Funding arb table

Net, price: spread back to 7d avg − costs−$143as in the Price arb table

costs, in and out, $10k−$1481.478% of the position

Long on Gate Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.177%−$18 on $10k

Price spread, last 4 days (all we have)−0.021%−$2 · spread now +0.027%, 7d avg −0.019%

Together, before fees−0.198%−$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: Bybit is 0.047% dearer against Gate than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.019%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate CAKE_USDT	2.5563	0.0100	pay 0.0050% / 4h	2h 19m	$892K	$861K	75x
Short	Bybit CAKEUSDT	2.5570	0.0100	get 0.0050% / 4h	2h 19m	$5.3M	$4.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.027%Rate

Funding earned: $0
Price spread: +0.027% → −0.019%: $4.66
Slippage, 4 orders: −$121.77
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$143.1
Costs to cover: 1.478%
Break-even: never at this rate

Slippage from Gate: live order book, 2 min ago; Bybit: 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 Gate live order book, 2 min ago	2.15 bp	39.7 bp −$40	101.1 bp −$1,011	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	1.95 bp	35.3 bp −$35	53.4 bp −$534	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	+0.0012%	4h	2.5573	+0.039%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	−0.481%	$113	$52K	5.5x	as long as short
BloFin CAKE-USDT	+0.0085%	4h	2.5605	+0.164%	$997K	$356K	75x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5599	+0.141%	$3.2M	$3.3M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.5589	+0.102%	$2.4M	$90K	10x	as long as short
Binance CAKEUSDT	+0.0100%	4h	2.5574	+0.043%	$18.4M	$38.8M	75x	as long as short
Bybit CAKEUSDTshort	+0.0100%	4h	2.5570	+0.027%	$5.3M	$4.1M	50x
Gate CAKE_USDTlong	+0.0100%	4h	2.5563	long leg	$892K	$861K	75x
MEXC CAKE_USDT	+0.0100%	4h	2.5578	+0.059%	$14.2M	$2.9M	125x	as long as short
KuCoin CAKEUSDTM	+0.0100%	4h	2.5578	+0.059%	$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	2.5575	+0.047%	$2.7M	$2.8M	75x	as long as short
BingX CAKE-USDT	+0.0100%	4h	2.5562	−0.004%	—	$3.5M	—	as long as short
Variational Omni CAKE	+0.0100%	4h	2.5594	+0.120%	$547K	$497K	—	as long as short
ApeX Omni CAKEUSDT	+0.0100%	1h	2.5595	+0.125%	$13K	$696K	50x	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0421% / S −0.0272%	1h	2.5571	+0.032%	$38K	—	100x	as long as short
Kraken Futures PF_CAKEUSD	+0.0495%	1h	2.5612	+0.192%	$57K	$38K	10x	as long as short