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: KuCoin against Variational Omni+0.097%7-day average +0.054% · you sell dearer than you buy

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

Long on Variational Omni Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.040%+$4 on $10k

Price spread, last 4 days (all we have)−0.307%−$31 · spread now +0.097%, 7d avg +0.054%

Together, before fees−0.267%+ Points / potential airdropVariational Omni: Active · farm board−$27 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: KuCoin is 0.043% dearer against Variational Omni than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.054%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni CAKE	2.5131	0.0100	pay 0.0050% / 4h	2h 06m	$533K	$460K	—
Short	KuCoin CAKEUSDTM	2.5155	0.0100	get 0.0050% / 4h	2h 06m	$2.4M	$5.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.097%Rate

Funding earned: $0
Price spread: +0.097% → +0.054%: $4.31
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$7.69
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 63 min ago; KuCoin: live order book, 1 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, 63 min ago	4.68 bp	doesn't fit	76.0 bp −$760	doesn't fit	doesn't fit
Sell KuCoin live order book, 1 min ago	3.78 bp	27.4 bp −$27	113.6 bp −$1,136	doesn't fit	doesn't fit

CAKE on 15 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	2.5160	+0.117%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	+1.231%	$113	$52K	5.5x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5171	+0.161%	$3.1M	$2.6M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.5171	+0.160%	$2.4M	$76K	10x	as long as short
Binance CAKEUSDT	+0.0100%	4h	2.5157	+0.104%	$17.9M	$33.4M	75x	as long as short
Bybit CAKEUSDT	+0.0100%	4h	2.5148	+0.069%	$5.3M	$3.7M	50x	as long as short
Gate CAKE_USDT	+0.0100%	4h	2.5141	+0.041%	$877K	$673K	75x	as long as short
MEXC CAKE_USDT	+0.0100%	4h	2.5153	+0.089%	$13.7M	$2.9M	125x	as long as short
KuCoin CAKEUSDTMshort	+0.0100%	4h	2.5155	+0.097%	$2.4M	$5.5M	50x
Bitget CAKEUSDT	+0.0100%	4h	2.5166	+0.141%	$2.6M	$2.4M	75x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX CAKE-USDT	+0.0100%	4h	2.5156	+0.101%	—	$3.6M	—	as long as short
Variational Omni CAKElong	+0.0100%	4h	2.5131	long leg	$533K	$460K	—
ApeX Omni CAKEUSDT	+0.0100%	1h	2.5124	−0.026%	$11K	$683K	50x	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0417% / S −0.0269%	1h	2.5167	+0.144%	$37K	—	100x	as long as short
Kraken Futures PF_CAKEUSD	+0.0832%	1h	2.5173	+0.170%	$54K	$37K	10x	as long as short