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: Aster against Variational Omni+0.190%7-day average +0.099% · you sell dearer than you buy

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

Long on Variational Omni Short on Aster

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.045%+$5 on $10k

Price spread, last 4 days (all we have)−0.208%−$21 · spread now +0.190%, 7d avg +0.099%

Together, before fees−0.163%+ Points / potential airdropVariational Omni: Active · Aster: Stage 5 · farm board−$16 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: Aster is 0.091% dearer against Variational Omni than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of +0.099%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni CAKE	2.4946	0.0100	pay 0.0050% / 4h	6m 05s	$517K	$469K	—
Short	Aster CAKEUSDT	2.4993	0.0100	get 0.0050% / 4h	6m 05s	$2.3M	$79K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 AsterbpOrdersPrice spread, now +0.190%Rate

Funding earned: $0
Price spread: +0.190% → +0.099%: $9.15
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Aster: 4 bp × 2 orders: −$8
Net: $1.15
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 53 min ago; Aster: live order book, 2 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, 53 min ago	6.71 bp	doesn't fit	75.3 bp −$753	doesn't fit	doesn't fit
Sell Aster live order book, 2 min ago	3.80 bp	20.1 bp −$20	1842.5 bp −$18.4K	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	−0.0005%	1h	2.5002	+0.226%	$10K	$679K	50x	as long as short
Orderly PERP_CAKE_USDC	+0.0019%	4h	2.4970	+0.098%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	+1.982%	$113	$52K	5.5x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.4951	+0.022%	$3.1M	$2.5M	3x	as long as short
Aster CAKEUSDTshort	+0.0100%	4h	2.4993	+0.190%	$2.3M	$79K	10x
Binance CAKEUSDT	+0.0100%	4h	2.4929	−0.067%	$17.8M	$31.4M	75x	as long as short
Bybit CAKEUSDT	+0.0100%	4h	2.4916	−0.119%	$5.2M	$3.6M	50x	as long as short
Gate CAKE_USDT	+0.0100%	4h	2.4918	−0.111%	$869K	$643K	75x	as long as short
MEXC CAKE_USDT	+0.0100%	4h	2.4931	−0.059%	$13.3M	$2.9M	125x	as long as short
KuCoin CAKEUSDTM	+0.0100%	4h	2.4964	+0.074%	$2.4M	$5.4M	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget CAKEUSDT	+0.0100%	4h	2.4930	−0.063%	$2.6M	$2.4M	75x	as long as short
BingX CAKE-USDT	+0.0100%	4h	2.4916	−0.119%	—	$3.8M	—	as long as short
Variational Omni CAKElong	+0.0100%	4h	2.4946	long leg	$517K	$469K	—
BloFin CAKE-USDT	+0.0124%	4h	2.4973	+0.110%	$996K	$356K	75x	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0415% / S −0.0269%	1h	2.4987	+0.164%	$37K	—	100x	as long as short
Kraken Futures PF_CAKEUSD	+0.0753%	1h	2.4981	+0.142%	$52K	$38K	10x	as long as short