Funding arb · Price arb /

CAKE

all CAKE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.011%

Price spread now: ApeX Omni against Variational Omni+0.019%7-day average +0.055% · you sell dearer than you buy

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

Long on Variational Omni Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.033%−$3 on $10k

Price spread, last 3 days (all we have)+0.047%+$5 · spread now +0.019%, 7d avg +0.055%

Together, before fees+0.014%+ Points / potential airdropVariational Omni: Active · farm board+$1 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: ApeX Omni is 0.036% cheaper against Variational Omni than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.055%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni CAKE	2.5450	0.0100	pay 0.0050% / 4h	2h 39m	$544K	$497K	—
Short	ApeX Omni CAKEUSDT	2.5455	0.0100	get 0.0013% / 1h	39m 27s	$13K	$695K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Variational Omni. 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 Variational OmnibpFee ApeX OmnibpOrdersPrice spread, now +0.019%Rate

Funding earned: $0
Price spread: +0.019% → +0.055%: −$3.61
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$13.61
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 49 min ago; ApeX Omni: live order book, 49 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 Variational Omni RFQ quote, 49 min ago	6.63 bp	doesn't fit	73.6 bp −$736	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 49 min ago	4.50 bp	13.9 bp −$14	95.9 bp −$959	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	+0.0006%	4h	2.5464	+0.055%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	−0.040%	$113	$52K	5.5x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5464	+0.055%	$3.1M	$3.3M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.5460	+0.039%	$2.4M	$99K	10x	as long as short
Binance CAKEUSDT	+0.0100%	4h	2.5435	−0.058%	$18.2M	$38.9M	75x	as long as short
Bybit CAKEUSDT	+0.0100%	4h	2.5430	−0.079%	$5.3M	$4.1M	50x	as long as short
Gate CAKE_USDT	+0.0100%	4h	2.5441	−0.036%	$887K	$858K	75x	as long as short
MEXC CAKE_USDT	+0.0100%	4h	2.5434	−0.063%	$14.2M	$2.9M	125x	as long as short
KuCoin CAKEUSDTM	+0.0100%	4h	2.5450	0.000%	$2.5M	$5.7M	50x	as long as short
Bitget CAKEUSDT	+0.0100%	4h	2.5440	−0.040%	$2.7M	$2.9M	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	2.5440	−0.040%	—	$3.5M	—	as long as short
Variational Omni CAKElong	+0.0100%	4h	2.5450	long leg	$544K	$497K	—
ApeX Omni CAKEUSDTshort	+0.0100%	1h	2.5455	+0.019%	$13K	$695K	50x
BloFin CAKE-USDT	+0.0146%	4h	2.5450	0.000%	$995K	$351K	75x	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0420% / S −0.0272%	1h	2.5470	+0.079%	$38K	—	100x	as long as short
Kraken Futures PF_CAKEUSD	+0.0497%	1h	2.5482	+0.125%	$56K	$38K	10x	as long as short