Funding arb · Price arb /

CAKE

all CAKE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Hyperliquid against MEXC+0.076%7-day average +0.042% · you sell dearer than you buy

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

Long on MEXC Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.008%−$1 on $10k

Price spread, last 7 days−0.027%−$3 · spread now +0.076%, 7d avg +0.042%

Together, before fees−0.034%+ Points / potential airdropHyperliquid: Season 2 · farm board−$3 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: Hyperliquid is 0.033% dearer against MEXC than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.042%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC CAKE_USDT	2.5164	0.0100	pay 0.0050% / 4h	1h 20m	$13.7M	$2.9M	125x
Short	Hyperliquid CAKE	2.5183	0.0100	get 0.0013% / 1h	20m 02s	$3.1M	$2.5M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.076%Rate

Funding earned: $0
Price spread: +0.076% → +0.042%: $3.3
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$9.7
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: MEXC: live order book, 3 min ago; Hyperliquid: live order book, 1 min ago. 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 MEXC live order book, 3 min ago	1.19 bp	5.9 bp −$6	27.8 bp −$278	88.6 bp −$8,864	doesn't fit
Sell Hyperliquid live order book, 1 min ago	0.40 bp	doesn't fit	doesn't fit	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	+0.0012%	4h	2.5165	+0.004%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	+1.097%	$113	$52K	5.5x	as long as short
Hyperliquid CAKEshort	+0.0100%	1h	2.5183	+0.076%	$3.1M	$2.5M	3x
Aster CAKEUSDT	+0.0100%	4h	2.5179	+0.061%	$2.4M	$72K	10x	as long as short
Binance CAKEUSDT	+0.0100%	4h	2.5159	−0.019%	$18.0M	$31.5M	75x	as long as short
Bybit CAKEUSDT	+0.0100%	4h	2.5150	−0.056%	$5.3M	$3.6M	50x	as long as short
Gate CAKE_USDT	+0.0100%	4h	2.5176	+0.048%	$878K	$649K	75x	as long as short
MEXC CAKE_USDTlong	+0.0100%	4h	2.5164	long leg	$13.7M	$2.9M	125x
KuCoin CAKEUSDTM	+0.0100%	4h	2.5178	+0.056%	$2.5M	$5.5M	50x	as long as short
Bitget CAKEUSDT	+0.0100%	4h	2.5178	+0.056%	$2.6M	$2.3M	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	2.5172	+0.032%	—	$3.7M	—	as long as short
Variational Omni CAKE	+0.0100%	4h	2.5160	−0.015%	$522K	$470K	—	as long as short
ApeX Omni CAKEUSDT	+0.0100%	1h	2.5166	+0.008%	$11K	$682K	50x	as long as short
BloFin CAKE-USDT	+0.0123%	4h	2.5169	+0.020%	$994K	$368K	75x	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0416% / S −0.0269%	1h	2.5176	+0.049%	$37K	—	100x	as long as short
Kraken Futures PF_CAKEUSD	+0.1550%	1h	2.5201	+0.149%	$54K	$37K	10x	as long as short