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: Gate against MEXC−0.052%7-day average −0.010% · you buy dearer than you sell

Net, funding: paid 7d − costs−$86as in the Funding arb table

Net, price: spread back to 7d avg − costs−$88as in the Price arb table

costs, in and out, $10k−$840.843% of the position

Long on MEXC Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.013%−$1 on $10k

Price spread, last 4 days (all we have)+0.070%+$7 · spread now −0.052%, 7d avg −0.010%

Together, before fees+0.057%+$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: Gate is 0.041% cheaper against MEXC than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.010%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC CAKE_USDT	2.5230	0.0100	pay 0.0050% / 4h	2h 54m	$13.8M	$2.8M	125x
Short	Gate CAKE_USDT	2.5217	0.0100	get 0.0050% / 4h	2h 54m	$884K	$661K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.052%Rate

Funding earned: $0
Price spread: −0.052% → −0.010%: −$4.11
Slippage, 4 orders: −$65.26
Fee MEXC: 2 bp × 2 orders: −$4
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$88.37
Costs to cover: 0.843%
Break-even: never at this rate

Slippage from MEXC: live order book, 9 min ago; Gate: 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, 9 min ago	0.59 bp	5.6 bp −$6	48.2 bp −$482	124.7 bp −$12.5K	doesn't fit
Sell Gate live order book, 12 min ago	2.36 bp	39.7 bp −$40	80.3 bp −$803	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	−0.0095%	1h	2.5301	+0.281%	$11K	$699K	50x	as long as short
Orderly PERP_CAKE_USDC	+0.0024%	4h	2.5209	−0.083%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	+0.832%	$113	$52K	5.5x	as long as short
BloFin CAKE-USDT	+0.0068%	4h	2.5215	−0.059%	$991K	$359K	75x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5241	+0.044%	$3.2M	$2.6M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.5242	+0.048%	$2.4M	$75K	10x	as long as short
Binance CAKEUSDT	+0.0100%	4h	2.5214	−0.063%	$18.0M	$34.6M	75x	as long as short
Bybit CAKEUSDT	+0.0100%	4h	2.5190	−0.159%	$5.3M	$3.8M	50x	as long as short
Gate CAKE_USDTshort	+0.0100%	4h	2.5217	−0.052%	$884K	$661K	75x
MEXC CAKE_USDTlong	+0.0100%	4h	2.5230	long leg	$13.8M	$2.8M	125x

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin CAKEUSDTM	+0.0100%	4h	2.5224	−0.024%	$2.4M	$5.5M	50x	as long as short
Bitget CAKEUSDT	+0.0100%	4h	2.5233	+0.012%	$2.6M	$2.5M	75x	as long as short
BingX CAKE-USDT	+0.0100%	4h	2.5223	−0.028%	—	$3.5M	—	as long as short
Variational Omni CAKE	+0.0100%	4h	2.5216	−0.055%	$537K	$459K	—	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0421% / S −0.0272%	1h	2.5228	−0.008%	$37K	—	100x	as long as short
Kraken Futures PF_CAKEUSD	+0.0827%	1h	2.5333	+0.409%	$55K	$37K	10x	as long as short