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: Bybit against MEXC−0.074%7-day average −0.022% · you buy dearer than you sell

Net, funding: paid 7d − costs−$69as in the Funding arb table

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$500.501% of the position

Long on MEXC Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.186%−$19 on $10k

Price spread, last 7 days+0.049%+$5 · spread now −0.074%, 7d avg −0.022%

Together, before fees−0.136%−$14 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: Bybit is 0.052% cheaper against MEXC than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.022%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC CAKE_USDT	2.5513	0.0100	pay 0.0050% / 4h	3h 42m	$14.2M	$2.8M	125x
Short	Bybit CAKEUSDT	2.5494	0.0100	get 0.0050% / 4h	3h 42m	$5.3M	$3.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.074%Rate

Funding earned: $0
Price spread: −0.074% → −0.022%: −$5.23
Slippage, 4 orders: −$35.11
Fee MEXC: 2 bp × 2 orders: −$4
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$55.33
Costs to cover: 0.501%
Break-even: never at this rate

Slippage from MEXC: live order book, 1 min ago; Bybit: live order book, 1 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, 1 min ago	0.59 bp	6.4 bp −$6	33.7 bp −$337	115.9 bp −$11.6K	doesn't fit
Sell Bybit live order book, 1 min ago	1.96 bp	19.3 bp −$19	54.5 bp −$545	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
Orderly PERP_CAKE_USDC	+0.0024%	4h	2.5512	−0.004%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	−0.286%	$113	$52K	5.5x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5546	+0.129%	$3.2M	$2.7M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.5517	+0.016%	$2.4M	$78K	10x	as long as short
Binance CAKEUSDT	+0.0100%	4h	2.5508	−0.020%	$18.3M	$35.6M	75x	as long as short
Bybit CAKEUSDTshort	+0.0100%	4h	2.5494	−0.074%	$5.3M	$3.9M	50x
Gate CAKE_USDT	+0.0100%	4h	2.5508	−0.020%	$895K	$680K	75x	as long as short
MEXC CAKE_USDTlong	+0.0100%	4h	2.5513	long leg	$14.2M	$2.8M	125x
KuCoin CAKEUSDTM	+0.0100%	4h	2.5504	−0.035%	$2.5M	$5.5M	50x	as long as short
Bitget CAKEUSDT	+0.0100%	4h	2.5527	+0.055%	$2.7M	$2.6M	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	2.5505	−0.031%	—	$3.6M	—	as long as short
Variational Omni CAKE	+0.0100%	4h	2.5431	−0.321%	$534K	$469K	—	as long as short
ApeX Omni CAKEUSDT	+0.0100%	1h	2.5494	−0.074%	$11K	$697K	50x	as long as short
BloFin CAKE-USDT	+0.0136%	4h	2.5495	−0.071%	$994K	$363K	75x	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0421% / S −0.0272%	1h	2.5519	+0.022%	$38K	—	100x	as long as short
Kraken Futures PF_CAKEUSD	+0.0708%	1h	2.5533	+0.077%	$55K	$37K	10x	as long as short