Funding arb · Price arb /

CAKE

all CAKE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: BingX against KuCoin−0.020%7-day average −0.043% · you buy dearer than you sell

Net, funding: paid 7d − costs−$92as in the Funding arb table

Net, price: spread back to 7d avg − costs−$80as in the Price arb table

costs, in and out, $10k−$820.821% of the position

Long on KuCoin Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.094%−$9 on $10k

Price spread, last 7 days+0.004%$0 · spread now −0.020%, 7d avg −0.043%

Together, before fees−0.091%−$9 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: BingX is 0.023% dearer against KuCoin than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of −0.043%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin CAKEUSDTM	2.5494	0.0100	pay 0.0050% / 4h	3h 39m	$2.5M	$5.5M	50x
Short	BingX CAKE-USDT	2.5489	0.0100	get 0.0050% / 4h	3h 39m	—	$3.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against KuCoin. 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 KuCoinbpFee BingXbpOrdersPrice spread, now −0.020%Rate

Funding earned: $0
Price spread: −0.020% → −0.043%: $2.33
Slippage, 4 orders: −$60.07
Fee KuCoin: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$79.74
Costs to cover: 0.821%
Break-even: never at this rate

Slippage from KuCoin: live order book, 8 min ago; BingX: live order book, 5 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 KuCoin live order book, 8 min ago	3.34 bp	40.7 bp −$41	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 5 min ago	1.96 bp	9.3 bp −$9	11.1 bp −$111	23.3 bp −$2,329	45.2 bp −$22.6K

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	+0.0024%	4h	2.5503	+0.035%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	−0.212%	$113	$52K	5.5x	as long as short
BloFin CAKE-USDT	+0.0097%	4h	2.5490	−0.016%	$994K	$363K	75x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5534	+0.157%	$3.2M	$2.7M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.5518	+0.094%	$2.4M	$78K	10x	as long as short
Binance CAKEUSDT	+0.0100%	4h	2.5500	+0.025%	$18.3M	$35.6M	75x	as long as short
Bybit CAKEUSDT	+0.0100%	4h	2.5474	−0.078%	$5.3M	$3.9M	50x	as long as short
Gate CAKE_USDT	+0.0100%	4h	2.5492	−0.008%	$894K	$681K	75x	as long as short
MEXC CAKE_USDT	+0.0100%	4h	2.5497	+0.012%	$14.1M	$2.8M	125x	as long as short
KuCoin CAKEUSDTMlong	+0.0100%	4h	2.5494	long leg	$2.5M	$5.5M	50x

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget CAKEUSDT	+0.0100%	4h	2.5516	+0.086%	$2.7M	$2.6M	75x	as long as short
BingX CAKE-USDTshort	+0.0100%	4h	2.5489	−0.020%	—	$3.6M	—
Variational Omni CAKE	+0.0100%	4h	2.5461	−0.129%	$535K	$469K	—	as long as short
ApeX Omni CAKEUSDT	+0.0100%	1h	2.5494	0.000%	$11K	$697K	50x	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0421% / S −0.0272%	1h	2.5509	+0.057%	$38K	—	100x	as long as short
Kraken Futures PF_CAKEUSD	+0.0708%	1h	2.5532	+0.149%	$55K	$37K	10x	as long as short