Funding arb · Price arb /

CAKE

all CAKE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.019%

Price spread now: Gate against Injective−1.022%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Injective Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.064%+$6 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Gate is 1.022% cheaper against Injective than usual: you would sell low and buy high (spread −1.022% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$102 on $10k: about 51 days of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.064% in total) that is about 4 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective CAKE/USDC PERP	2.5440	0.0033	pay 0.0004% / 1h	20m 40s	$113	$52K	5.5x
Short	Gate CAKE_USDT	2.5180	0.0100	get 0.0050% / 4h	1h 20m	$878K	$649K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Injective. 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 InjectivebpFee GatebpOrdersPrice spread, now −1.022%Rate

Funding earned: $14
Price spread: −1.022% → 0.000%: −$102.2
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$103.22
Costs to cover: 0.150%
Break-even: 58.6 days

Slippage unknown: Injective: no order-book sample; Gate: live order book, 41 min ago. Net counts fees only.

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 Injective no order-book sample	—	—	—	—	—
Sell Gate live order book, 41 min ago	2.79 bp	31.9 bp −$32	96.7 bp −$967	doesn't fit	doesn't fit

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	2.5173	−1.050%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERPlong	+0.0033%	1h	2.5440	long leg	$113	$52K	5.5x
Hyperliquid CAKE	+0.0100%	1h	2.5196	−0.959%	$3.1M	$2.5M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.5186	−1.000%	$2.4M	$72K	10x	as long as short
Binance CAKEUSDT	+0.0100%	4h	2.5168	−1.069%	$18.0M	$31.5M	75x	as long as short
Bybit CAKEUSDT	+0.0100%	4h	2.5160	−1.101%	$5.3M	$3.6M	50x	as long as short
Gate CAKE_USDTshort	+0.0100%	4h	2.5180	−1.022%	$878K	$649K	75x
MEXC CAKE_USDT	+0.0100%	4h	2.5169	−1.065%	$13.7M	$2.9M	125x	as long as short
KuCoin CAKEUSDTM	+0.0100%	4h	2.5168	−1.069%	$2.5M	$5.5M	50x	as long as short
Bitget CAKEUSDT	+0.0100%	4h	2.5181	−1.018%	$2.6M	$2.3M	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	2.5177	−1.034%	—	$3.7M	—	as long as short
Variational Omni CAKE	+0.0100%	4h	2.5160	−1.099%	$522K	$470K	—	as long as short
ApeX Omni CAKEUSDT	+0.0100%	1h	2.5166	−1.077%	$11K	$682K	50x	as long as short
BloFin CAKE-USDT	+0.0123%	4h	2.5169	−1.065%	$994K	$368K	75x	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0416% / S −0.0269%	1h	2.5180	−1.021%	$37K	—	100x	as long as short
Kraken Futures PF_CAKEUSD	+0.1551%	1h	2.5189	−0.987%	$54K	$37K	10x	as long as short