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: MEXC against Gate+0.098%7-day average +0.009% · you sell dearer than you buy

Net, funding: paid 7d − costs−$84as in the Funding arb table

Net, price: spread back to 7d avg − costs−$76as in the Price arb table

costs, in and out, $10k−$850.848% of the position

Long on Gate Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.011%+$1 on $10k

Price spread, last 4 days (all we have)−0.106%−$11 · spread now +0.098%, 7d avg +0.009%

Together, before fees−0.095%−$10 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: MEXC is 0.089% dearer against Gate than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of +0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate CAKE_USDT	2.5458	0.0100	pay 0.0050% / 4h	1h 55m	$888K	$761K	75x
Short	MEXC CAKE_USDT	2.5483	0.0100	get 0.0050% / 4h	1h 55m	$14.2M	$2.8M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.098%Rate

Funding earned: $0
Price spread: +0.098% → +0.009%: $8.92
Slippage, 4 orders: −$65.83
Fee Gate: 7.5 bp × 2 orders: −$15
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$75.91
Costs to cover: 0.848%
Break-even: never at this rate

Slippage from Gate: live order book, 27 min ago; MEXC: 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, 27 min ago	2.15 bp	39.7 bp −$40	101.1 bp −$1,011	doesn't fit	doesn't fit
Sell MEXC live order book, 3 min ago	0.59 bp	4.6 bp −$5	29.2 bp −$292	74.8 bp −$7,482	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	2.5477	+0.075%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	−0.071%	$113	$52K	5.5x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5511	+0.208%	$3.2M	$3.3M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.5487	+0.114%	$2.4M	$89K	10x	as long as short
Binance CAKEUSDT	+0.0100%	4h	2.5489	+0.120%	$18.3M	$38.5M	75x	as long as short
Bybit CAKEUSDT	+0.0100%	4h	2.5460	+0.008%	$5.3M	$4.1M	50x	as long as short
Gate CAKE_USDTlong	+0.0100%	4h	2.5458	long leg	$888K	$761K	75x
MEXC CAKE_USDTshort	+0.0100%	4h	2.5483	+0.098%	$14.2M	$2.8M	125x
KuCoin CAKEUSDTM	+0.0100%	4h	2.5483	+0.098%	$2.5M	$5.7M	50x	as long as short
Bitget CAKEUSDT	+0.0100%	4h	2.5489	+0.122%	$2.7M	$2.8M	75x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX CAKE-USDT	+0.0100%	4h	2.5483	+0.098%	—	$3.5M	—	as long as short
Variational Omni CAKE	+0.0100%	4h	2.5433	−0.099%	$542K	$491K	—	as long as short
ApeX Omni CAKEUSDT	+0.0100%	1h	2.5435	−0.090%	$13K	$698K	50x	as long as short
BloFin CAKE-USDT	+0.0138%	4h	2.5467	+0.035%	$996K	$355K	75x	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0420% / S −0.0272%	1h	2.5482	+0.092%	$38K	—	100x	as long as short
Kraken Futures PF_CAKEUSD	+0.0772%	1h	2.5597	+0.545%	$57K	$37K	10x	as long as short