Funding arb · Price arb /

CAKE

all CAKE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0305%/8h= −33.4% APRpaid last 24h +0.189%

Price spread now: Kraken Futures against MEXC−0.018%7-day average — · you buy dearer than you sell

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

Long on MEXC Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.780%+$78 on $10k

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

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$9 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.780%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC CAKE_USDT	2.4901	0.0022	pay 0.0011% / 4h	3h 54m	$15.1M	$2.9M	125x
Short	Kraken Futures PF_CAKEUSD	2.4896	−0.0283	pay 0.0035% / 1h	54m 48s	$54K	$44K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.018%Rate

Funding earned: −$64.04
Price spread: −0.018% → 0.000%: −$1.82
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$79.86
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: MEXC: live order book, 4 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 MEXC live order book, 4 min ago	0.20 bp	4.0 bp −$4	34.9 bp −$349	116.7 bp −$11.7K	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
Bybit CAKEUSDT	−0.1940%	4h	2.4880	−0.084%	$5.3M	$3.1M	50x	as long as short
Variational Omni CAKE	−0.0307%	4h	2.4851	−0.201%	$512K	$419K	—	as long as short
Kraken Futures PF_CAKEUSDshort	−0.0283%	1h	2.4896	−0.018%	$54K	$44K	10x
Orderly PERP_CAKE_USDC	−0.0132%	4h	2.4877	−0.096%	$7K	$14K	10x	as long as short
ApeX Omni CAKEUSDT	−0.0112%	1h	2.4850	−0.205%	$10K	$669K	50x	as long as short
BloFin CAKE-USDT	+0.0009%	4h	2.4887	−0.056%	$993K	$313K	75x	as long as short
MEXC CAKE_USDTlong	+0.0022%	4h	2.4901	long leg	$15.1M	$2.9M	125x
Binance CAKEUSDT	+0.0025%	4h	2.4910	+0.036%	$17.5M	$27.4M	75x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	+2.165%	$113	$52K	5.5x	as long as short
KuCoin CAKEUSDTM	+0.0098%	4h	2.4902	+0.004%	$2.4M	$5.1M	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid CAKE	+0.0100%	1h	2.4923	+0.088%	$3.1M	$1.8M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.4912	+0.045%	$2.3M	$106K	10x	as long as short
Gate CAKE_USDT	+0.0100%	4h	2.4872	−0.116%	$889K	$586K	75x	as long as short
Bitget CAKEUSDT	+0.0100%	4h	2.4900	−0.004%	$2.6M	$2.1M	75x	as long as short
BingX CAKE-USDT	+0.0100%	4h	2.4899	−0.008%	—	$3.8M	—	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0380% / S −0.0214%	1h	2.4906	+0.019%	$37K	—	100x	as long as short