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: KuCoin against Gate+0.094%7-day average +0.048% · you sell dearer than you buy

Net, funding: paid 7d − costs−$133as in the Funding arb table

Net, price: spread back to 7d avg − costs−$124as in the Price arb table

costs, in and out, $10k−$1291.290% of the position

Long on Gate Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.042%−$4 on $10k

Price spread, last 4 days (all we have)−0.027%−$3 · spread now +0.094%, 7d avg +0.048%

Together, before fees−0.070%−$7 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: KuCoin is 0.046% dearer against Gate than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.048%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate CAKE_USDT	2.5520	0.0100	pay 0.0050% / 4h	28m 58s	$891K	$753K	75x
Short	KuCoin CAKEUSDTM	2.5544	0.0100	get 0.0050% / 4h	28m 58s	$2.5M	$5.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.094%Rate

Funding earned: $0
Price spread: +0.094% → +0.048%: $4.57
Slippage, 4 orders: −$101.97
Fee Gate: 7.5 bp × 2 orders: −$15
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$124.4
Costs to cover: 1.290%
Break-even: never at this rate

Slippage from Gate: live order book, 48 min ago; KuCoin: live order book, 4 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, 48 min ago	3.15 bp	31.4 bp −$31	93.7 bp −$937	doesn't fit	doesn't fit
Sell KuCoin live order book, 4 min ago	2.54 bp	34.8 bp −$35	104.4 bp −$1,044	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
ApeX Omni CAKEUSDT	−0.0029%	1h	2.5546	+0.102%	$13K	$696K	50x	as long as short
Orderly PERP_CAKE_USDC	+0.0026%	4h	2.5533	+0.051%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	−0.313%	$113	$52K	5.5x	as long as short
BloFin CAKE-USDT	+0.0040%	4h	2.5529	+0.035%	$1.0M	$364K	75x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5564	+0.172%	$3.2M	$2.7M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.5550	+0.116%	$2.4M	$80K	10x	as long as short
Binance CAKEUSDT	+0.0100%	4h	2.5523	+0.011%	$18.3M	$36.1M	75x	as long as short
Bybit CAKEUSDT	+0.0100%	4h	2.5520	0.000%	$5.3M	$3.9M	50x	as long as short
Gate CAKE_USDTlong	+0.0100%	4h	2.5520	long leg	$891K	$753K	75x
MEXC CAKE_USDT	+0.0100%	4h	2.5524	+0.016%	$14.2M	$2.8M	125x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin CAKEUSDTMshort	+0.0100%	4h	2.5544	+0.094%	$2.5M	$5.6M	50x
Bitget CAKEUSDT	+0.0100%	4h	2.5554	+0.133%	$2.7M	$2.6M	75x	as long as short
BingX CAKE-USDT	+0.0100%	4h	2.5519	−0.004%	—	$3.6M	—	as long as short
Variational Omni CAKE	+0.0100%	4h	2.5522	+0.008%	$536K	$480K	—	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0421% / S −0.0272%	1h	2.5548	+0.109%	$38K	—	100x	as long as short
Kraken Futures PF_CAKEUSD	+0.0751%	1h	2.5565	+0.176%	$55K	$39K	10x	as long as short