Funding arb · Price arb /

CAKE

all CAKE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0539%/8h= +59.0% APRpaid last 24h −0.094%

Price spread now: BingX against Kraken Futures−0.210%7-day average — · you buy dearer than you sell

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

Long on Kraken Futures Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.928%−$93 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. BingX is 0.210% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.210% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$21 on $10k: about 31 hours of funding at the current rate (+$16 a day). Mind the row above: over the last 7 days funding on this pair cost −0.928%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_CAKEUSD	2.5115	−0.0439	get 0.0055% / 1h	52m 37s	$57K	$41K	10x
Short	BingX CAKE-USDT	2.5062	0.0100	get 0.0050% / 4h	52m 37s	—	$4.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Kraken Futures. 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 Kraken FuturesbpFee BingXbpOrdersPrice spread, now −0.210%Rate

Funding earned: $113.12
Price spread: −0.210% → 0.000%: −$20.99
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: $72.13
Costs to cover: 0.200%
Break-even: 2.5 days

Slippage unknown: Kraken Futures: no order-book sample; BingX: live order book, 6 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 Kraken Futures no order-book sample	—	—	—	—	—
Sell BingX live order book, 6 min ago	1.79 bp	7.0 bp −$7	9.6 bp −$96	24.2 bp −$2,418	49.6 bp −$24.8K

Kraken Futures: 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 exchanges

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
Kraken Futures PF_CAKEUSDlong	−0.0439%	1h	2.5115	long leg	$57K	$41K	10x
Orderly PERP_CAKE_USDC	−0.0097%	4h	2.5071	−0.174%	$7K	$13K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	+1.295%	$113	$52K	5.5x	as long as short
Aster CAKEUSDT	+0.0061%	4h	2.5080	−0.138%	$2.3M	$191K	10x	as long as short
BloFin CAKE-USDT	+0.0081%	4h	2.5061	−0.214%	$1.0M	$309K	75x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5086	−0.114%	$3.1M	$1.3M	3x	as long as short
Binance CAKEUSDT	+0.0100%	4h	2.5056	−0.235%	$17.5M	$25.4M	75x	as long as short
Bybit CAKEUSDT	+0.0100%	4h	2.5050	−0.258%	$5.4M	$3.0M	50x	as long as short
Gate CAKE_USDT	+0.0100%	4h	2.5098	−0.067%	$901K	$449K	75x	as long as short
MEXC CAKE_USDT	+0.0100%	4h	2.5056	−0.234%	$15.7M	$2.6M	125x	as long as short

Show all 16 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin CAKEUSDTM	+0.0100%	4h	2.5072	−0.170%	$2.4M	$5.3M	50x	as long as short
Bitget CAKEUSDT	+0.0100%	4h	2.5089	−0.102%	$2.6M	$2.0M	75x	as long as short
BingX CAKE-USDTshort	+0.0100%	4h	2.5062	−0.210%	—	$4.3M	—
Variational Omni CAKE	+0.0100%	4h	2.5108	−0.025%	$468K	$454K	—	as long as short
ApeX Omni CAKEUSDT	+0.0100%	1h	2.5137	+0.089%	$11K	$668K	50x	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0426% / S −0.0286%	1h	2.5085	−0.119%	$37K	—	100x	as long as short