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: Bitget against KuCoin+0.076%7-day average −0.038% · you sell dearer than you buy

Net, funding: paid 7d − costs−$106as in the Funding arb table

Net, price: spread back to 7d avg − costs−$95as in the Price arb table

costs, in and out, $10k−$1061.064% of the position

Long on KuCoin Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.004%$0 on $10k

Price spread, last 7 days−0.060%−$6 · spread now +0.076%, 7d avg −0.038%

Together, before fees−0.056%−$6 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: Bitget is 0.113% dearer against KuCoin than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of −0.038%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin CAKEUSDTM	2.5119	0.0100	pay 0.0050% / 4h	29m 13s	$2.4M	$5.4M	50x
Short	Bitget CAKEUSDT	2.5138	0.0100	get 0.0050% / 4h	29m 13s	$2.6M	$2.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.076%Rate

Funding earned: $0
Price spread: +0.076% → −0.038%: $11.33
Slippage, 4 orders: −$82.43
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$95.1
Costs to cover: 1.064%
Break-even: never at this rate

Slippage from KuCoin: live order book, 4 min ago; Bitget: 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 KuCoin live order book, 4 min ago	4.98 bp	30.4 bp −$30	145.1 bp −$1,451	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	2.59 bp	25.2 bp −$25	48.4 bp −$484	doesn't fit	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
ApeX Omni CAKEUSDT	−0.0003%	1h	2.5092	−0.107%	$11K	$678K	50x	as long as short
Orderly PERP_CAKE_USDC	+0.0018%	4h	2.5112	−0.028%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	+1.278%	$113	$52K	5.5x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5134	+0.060%	$3.1M	$2.5M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.5132	+0.050%	$2.4M	$79K	10x	as long as short
Binance CAKEUSDT	+0.0100%	4h	2.5110	−0.035%	$17.9M	$31.2M	75x	as long as short
Bybit CAKEUSDT	+0.0100%	4h	2.5080	−0.155%	$5.2M	$3.6M	50x	as long as short
Gate CAKE_USDT	+0.0100%	4h	2.5122	+0.012%	$875K	$642K	75x	as long as short
MEXC CAKE_USDT	+0.0100%	4h	2.5107	−0.048%	$13.4M	$2.9M	125x	as long as short
KuCoin CAKEUSDTMlong	+0.0100%	4h	2.5119	long leg	$2.4M	$5.4M	50x

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget CAKEUSDTshort	+0.0100%	4h	2.5138	+0.076%	$2.6M	$2.3M	75x
BingX CAKE-USDT	+0.0100%	4h	2.5121	+0.008%	—	$3.8M	—	as long as short
Variational Omni CAKE	+0.0100%	4h	2.5096	−0.093%	$521K	$469K	—	as long as short
BloFin CAKE-USDT	+0.0109%	4h	2.5105	−0.056%	$995K	$363K	75x	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0416% / S −0.0269%	1h	2.5127	+0.033%	$37K	—	100x	as long as short
Kraken Futures PF_CAKEUSD	+0.0748%	1h	2.5141	+0.087%	$53K	$38K	10x	as long as short