Funding arb · Price arb /

CAKE

all CAKE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0678%/8h= +74.2% APRpaid last 24h +0.267%

Price spread now: Kraken Futures against KuCoin+0.053%7-day average — · you sell dearer than you buy

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

Long on KuCoin Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.712%+$71 on $10k

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

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$20 a day on $10k at the current rate, and Kraken Futures is 0.053% dearer against KuCoin than usual: you sell high and buy low: +$5 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin CAKEUSDTM	2.5400	0.0100	pay 0.0050% / 4h	1h 25m	$2.5M	$5.7M	50x
Short	Kraken Futures PF_CAKEUSD	2.5414	0.0778	get 0.0097% / 1h	25m 56s	$57K	$37K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.053%Rate

Funding earned: $142.35
Price spread: +0.053% → 0.000%: $5.34
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $125.69
Costs to cover: 0.220%
Break-even: 0.8 days

Slippage unknown: KuCoin: live order book, 2 min ago; Kraken Futures: no order-book sample. 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 KuCoin live order book, 2 min ago	4.34 bp	31.4 bp −$31	138.7 bp −$1,387	doesn't fit	doesn't fit
Sell Kraken Futures no order-book sample	—	—	—	—	—

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
Orderly PERP_CAKE_USDC	+0.0018%	4h	2.5393	−0.028%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	+0.157%	$113	$52K	5.5x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5434	+0.134%	$3.2M	$3.3M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.5408	+0.032%	$2.4M	$87K	10x	as long as short
Binance CAKEUSDT	+0.0100%	4h	2.5397	−0.013%	$18.3M	$38.3M	75x	as long as short
Bybit CAKEUSDT	+0.0100%	4h	2.5380	−0.079%	$5.3M	$4.0M	50x	as long as short
Gate CAKE_USDT	+0.0100%	4h	2.5386	−0.055%	$886K	$765K	75x	as long as short
MEXC CAKE_USDT	+0.0100%	4h	2.5392	−0.031%	$14.1M	$2.8M	125x	as long as short
KuCoin CAKEUSDTMlong	+0.0100%	4h	2.5400	long leg	$2.5M	$5.7M	50x
Bitget CAKEUSDT	+0.0100%	4h	2.5403	+0.012%	$2.7M	$2.8M	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	2.5389	−0.043%	—	$3.6M	—	as long as short
Variational Omni CAKE	+0.0100%	4h	2.5367	−0.131%	$532K	$492K	—	as long as short
ApeX Omni CAKEUSDT	+0.0100%	1h	2.5393	−0.028%	$13K	$697K	50x	as long as short
BloFin CAKE-USDT	+0.0160%	4h	2.5402	+0.008%	$999K	$354K	75x	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0420% / S −0.0272%	1h	2.5401	+0.003%	$38K	—	100x	as long as short
Kraken Futures PF_CAKEUSDshort	+0.0778%	1h	2.5414	+0.053%	$57K	$37K	10x