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: Gate against Variational Omni−0.079%7-day average +0.007% · you buy dearer than you sell

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

Long on Variational Omni Short on Gate

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.037%+$4 on $10k

Price spread, last 4 days (all we have)+0.014%+$1 · spread now −0.079%, 7d avg +0.007%

Together, before fees+0.052%+ Points / potential airdropVariational Omni: Active · farm board+$5 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: Gate is 0.085% cheaper against Variational Omni than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of +0.007%.

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	5m 18s	$517K	$469K	—
Short	Gate CAKE_USDT	2.4926	0.0100	get 0.0050% / 4h	5m 18s	$869K	$645K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.079%Rate

Funding earned: $0
Price spread: −0.079% → +0.007%: −$8.54
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$23.54
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 54 min ago; Gate: live order book, 51 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, 54 min ago	6.71 bp	doesn't fit	75.3 bp −$753	doesn't fit	doesn't fit
Sell Gate live order book, 51 min ago	3.58 bp	37.0 bp −$37	126.8 bp −$1,268	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	−0.0003%	1h	2.4975	+0.118%	$10K	$679K	50x	as long as short
Orderly PERP_CAKE_USDC	+0.0018%	4h	2.4941	−0.019%	$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	2.4965	+0.078%	$3.1M	$2.5M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.4956	+0.043%	$2.3M	$79K	10x	as long as short
Binance CAKEUSDT	+0.0100%	4h	2.4946	+0.003%	$17.8M	$31.4M	75x	as long as short
Bybit CAKEUSDT	+0.0100%	4h	2.4922	−0.095%	$5.2M	$3.6M	50x	as long as short
Gate CAKE_USDTshort	+0.0100%	4h	2.4926	−0.079%	$869K	$645K	75x
MEXC CAKE_USDT	+0.0100%	4h	2.4948	+0.009%	$13.3M	$2.9M	125x	as long as short
KuCoin CAKEUSDTM	+0.0100%	4h	2.4941	−0.019%	$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	2.4946	+0.001%	$2.4M	$2.4M	75x	as long as short
BingX CAKE-USDT	+0.0100%	4h	2.4927	−0.075%	—	$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	2.4957	+0.045%	$37K	—	100x	as long as short
Kraken Futures PF_CAKEUSD	+0.0753%	1h	2.4981	+0.142%	$52K	$38K	10x	as long as short