Funding arb · Price arb /

CAKE

all CAKE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bitget against Variational Omni−0.092%7-day average +0.032% · you buy dearer than you sell

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

Long on Variational Omni Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.060%+$6 on $10k

Price spread, last 3 days (all we have)+0.005%$0 · spread now −0.092%, 7d avg +0.032%

Together, before fees+0.065%+ Points / potential airdropVariational Omni: Active · farm board+$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: Bitget is 0.124% cheaper against Variational Omni than usual: you would sell low and buy high, −$12 on $10k if it goes back to its 7-day average of +0.032%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni CAKE	2.5594	0.0100	pay 0.0050% / 4h	2h 18m	$547K	$497K	—
Short	Bitget CAKEUSDT	2.5570	0.0100	get 0.0050% / 4h	2h 18m	$2.7M	$2.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.092%Rate

Funding earned: $0
Price spread: −0.092% → +0.032%: −$12.37
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$24.37
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 6 min ago; Bitget: live order book, 4 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, 6 min ago	6.63 bp	doesn't fit	52.1 bp −$521	doesn't fit	doesn't fit
Sell Bitget live order book, 4 min ago	3.12 bp	19.3 bp −$19	42.3 bp −$423	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	+0.0013%	4h	2.5562	−0.123%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	−0.600%	$113	$52K	5.5x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5588	−0.022%	$3.2M	$3.3M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.5578	−0.062%	$2.4M	$90K	10x	as long as short
Binance CAKEUSDT	+0.0100%	4h	2.5569	−0.096%	$18.4M	$38.8M	75x	as long as short
Bybit CAKEUSDT	+0.0100%	4h	2.5545	−0.190%	$5.3M	$4.1M	50x	as long as short
Gate CAKE_USDT	+0.0100%	4h	2.5563	−0.120%	$892K	$861K	75x	as long as short
MEXC CAKE_USDT	+0.0100%	4h	2.5559	−0.135%	$14.2M	$2.9M	125x	as long as short
KuCoin CAKEUSDTM	+0.0100%	4h	2.5566	−0.108%	$2.5M	$5.7M	50x	as long as short
Bitget CAKEUSDTshort	+0.0100%	4h	2.5570	−0.092%	$2.7M	$2.8M	75x

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX CAKE-USDT	+0.0100%	4h	2.5555	−0.151%	—	$3.5M	—	as long as short
Variational Omni CAKElong	+0.0100%	4h	2.5594	long leg	$547K	$497K	—
ApeX Omni CAKEUSDT	+0.0100%	1h	2.5595	+0.006%	$13K	$696K	50x	as long as short
BloFin CAKE-USDT	+0.0105%	4h	2.5569	−0.096%	$997K	$357K	75x	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0421% / S −0.0272%	1h	2.5569	−0.096%	$38K	—	100x	as long as short
Kraken Futures PF_CAKEUSD	+0.0495%	1h	2.5610	+0.065%	$57K	$38K	10x	as long as short