Funding arb · Price arb /

CAKE

all CAKE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0602%/8h= −65.9% APRpaid last 24h −0.212%

Price spread now: MEXC against Kraken Futures−0.044%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 MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.758%−$76 on $10k

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$18 a day on $10k at the current rate, and MEXC is 0.044% cheaper against Kraken Futures than usual: you would sell low and buy high (−$4 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_CAKEUSD	2.5001	0.0702	pay 0.0088% / 1h	36m 39s	$52K	$37K	10x
Short	MEXC CAKE_USDT	2.4990	0.0100	get 0.0050% / 4h	2h 36m	$13.2M	$2.8M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.044%Rate

Funding earned: −$126.46
Price spread: −0.044% → 0.000%: −$4.38
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$144.84
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Kraken Futures: no order-book sample; MEXC: live order book, 2 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 MEXC live order book, 2 min ago	1.00 bp	7.2 bp −$7	37.3 bp −$373	101.9 bp −$10.2K	doesn't fit

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 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
Bybit CAKEUSDT	−0.0539%	4h	2.4970	−0.124%	$5.2M	$3.5M	50x	as long as short
ApeX Omni CAKEUSDT	−0.0271%	1h	2.4869	−0.528%	$10K	$677K	50x	as long as short
Orderly PERP_CAKE_USDC	−0.0041%	4h	2.4952	−0.196%	$7K	$14K	10x	as long as short
Variational Omni CAKE	0.0000%	4h	2.4881	−0.479%	$510K	$460K	—	as long as short
KuCoin CAKEUSDTM	+0.0008%	4h	2.4990	−0.044%	$2.4M	$5.3M	50x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	+1.756%	$113	$52K	5.5x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5009	+0.032%	$3.1M	$2.0M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.4998	−0.011%	$2.3M	$77K	10x	as long as short
Binance CAKEUSDT	+0.0100%	4h	2.4994	−0.028%	$17.6M	$30.8M	75x	as long as short
Gate CAKE_USDT	+0.0100%	4h	2.4962	−0.156%	$866K	$608K	75x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC CAKE_USDTshort	+0.0100%	4h	2.4990	−0.044%	$13.2M	$2.8M	125x
Bitget CAKEUSDT	+0.0100%	4h	2.5000	−0.004%	$2.5M	$2.3M	75x	as long as short
BingX CAKE-USDT	+0.0100%	4h	2.4978	−0.092%	—	$3.8M	—	as long as short
BloFin CAKE-USDT	+0.0138%	4h	2.4943	−0.232%	$989K	$315K	75x	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0416% / S −0.0269%	1h	2.4976	−0.099%	$37K	—	100x	as long as short
Kraken Futures PF_CAKEUSDlong	+0.0702%	1h	2.5001	long leg	$52K	$37K	10x