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: Binance against MEXC−0.061%7-day average −0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$350.354% of the position

Long on MEXC Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.001%$0 on $10k

Price spread, last 7 days+0.042%+$4 · spread now −0.061%, 7d avg −0.001%

Together, before fees+0.043%+$4 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: Binance is 0.060% cheaper against MEXC than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of −0.001%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC CAKE_USDT	2.5094	0.0100	pay 0.0050% / 4h	29m 04s	$13.4M	$2.9M	125x
Short	Binance CAKEUSDT	2.5079	0.0100	get 0.0050% / 4h	29m 04s	$17.9M	$31.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against MEXC. 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 MEXCbpFee BinancebpOrdersPrice spread, now −0.061%Rate

Funding earned: $0
Price spread: −0.061% → −0.001%: −$5.95
Slippage, 4 orders: −$21.42
Fee MEXC: 2 bp × 2 orders: −$4
Fee Binance: 5 bp × 2 orders: −$10
Net: −$41.37
Costs to cover: 0.354%
Break-even: never at this rate

Slippage from MEXC: live order book, 4 min ago; Binance: live order book, 12 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 MEXC live order book, 4 min ago	1.99 bp	6.2 bp −$6	37.3 bp −$373	108.7 bp −$10.9K	doesn't fit
Sell Binance live order book, 12 min ago	0.80 bp	11.7 bp −$12	29.8 bp −$298	136.9 bp −$13.7K	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	−0.008%	$11K	$678K	50x	as long as short
Orderly PERP_CAKE_USDC	+0.0018%	4h	2.5112	+0.072%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	+1.379%	$113	$52K	5.5x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5123	+0.116%	$3.1M	$2.5M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.5131	+0.148%	$2.4M	$79K	10x	as long as short
Binance CAKEUSDTshort	+0.0100%	4h	2.5079	−0.061%	$17.9M	$31.2M	75x
Bybit CAKEUSDT	+0.0100%	4h	2.5060	−0.135%	$5.2M	$3.6M	50x	as long as short
Gate CAKE_USDT	+0.0100%	4h	2.5110	+0.064%	$875K	$642K	75x	as long as short
MEXC CAKE_USDTlong	+0.0100%	4h	2.5094	long leg	$13.4M	$2.9M	125x
KuCoin CAKEUSDTM	+0.0100%	4h	2.5121	+0.108%	$2.4M	$5.4M	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget CAKEUSDT	+0.0100%	4h	2.5123	+0.116%	$2.6M	$2.3M	75x	as long as short
BingX CAKE-USDT	+0.0100%	4h	2.5113	+0.076%	—	$3.8M	—	as long as short
Variational Omni CAKE	+0.0100%	4h	2.5096	+0.006%	$521K	$469K	—	as long as short
BloFin CAKE-USDT	+0.0109%	4h	2.5105	+0.044%	$995K	$363K	75x	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0416% / S −0.0269%	1h	2.5127	+0.133%	$37K	—	100x	as long as short
Kraken Futures PF_CAKEUSD	+0.0748%	1h	2.5141	+0.187%	$53K	$38K	10x	as long as short