Funding arb · Price arb /

CAKE

all CAKE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0413%/8h= +45.2% APRpaid last 24h +0.018%

Price spread now: BloFin against ApeX Omni+0.008%103s7-day average −0.044% · you sell dearer than you buy

Net, funding: paid 7d − costs−$24as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$540.536% of the position

Long on ApeX Omni Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.298%+$30 on $10k

Price spread, last 4 days (all we have)−0.175%−$18 · spread now +0.008%, 7d avg −0.044%

Together, before fees+0.123%+$12 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and BloFin is 0.052% dearer against ApeX Omni than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.044%. The two prices were read 103 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni CAKEUSDT	2.5048	−0.0366	get 0.0046% / 1h	49m 34s	$11K	$674K	50x
Short	BloFin CAKE-USDT	2.5050	0.0046	get 0.0023% / 4h	1h 49m	$988K	$317K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against ApeX 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 ApeX OmnibpFee BloFinbpOrdersPrice spread, now +0.008%Rate

Funding earned: $86.69
Price spread: +0.008% → −0.044%: $5.24
Slippage, 4 orders: −$31.6
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: $38.33
Costs to cover: 0.536%
Break-even: 3.9 days

Slippage from ApeX Omni: live order book, 59 min ago; BloFin: live order book, 37 min ago.

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 ApeX Omni live order book, 59 min ago	5.40 bp	13.5 bp −$13	107.4 bp −$1,074	doesn't fit	doesn't fit
Sell BloFin live order book, 37 min ago	0.20 bp	16.4 bp −$16	29.8 bp −$298	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
Bybit CAKEUSDT	−0.0648%	4h	2.5070	+0.088%	$5.2M	$3.4M	50x	as long as short
ApeX Omni CAKEUSDTlong	−0.0366%	1h	2.5048	long leg	$11K	$674K	50x
Variational Omni CAKE	−0.0310%	4h	2.5041	−0.028%	$514K	$434K	—	as long as short
KuCoin CAKEUSDTM	−0.0150%	4h	2.5092	+0.176%	$2.4M	$5.2M	50x	as long as short
Orderly PERP_CAKE_USDC	−0.0088%	4h	2.5093	+0.180%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	+1.565%	$113	$52K	5.5x	as long as short
BloFin CAKE-USDTshort	+0.0046%	4h	2.5050	+0.008%	$988K	$317K	75x
MEXC CAKE_USDT	+0.0076%	4h	2.5073	+0.100%	$13.4M	$2.7M	125x	as long as short
Binance CAKEUSDT	+0.0079%	4h	2.5073	+0.100%	$17.6M	$29.8M	75x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5101	+0.212%	$3.1M	$1.9M	3x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster CAKEUSDT	+0.0100%	4h	2.5098	+0.199%	$2.4M	$77K	10x	as long as short
Gate CAKE_USDT	+0.0100%	4h	2.5067	+0.076%	$868K	$587K	75x	as long as short
Bitget CAKEUSDT	+0.0100%	4h	2.5085	+0.148%	$2.5M	$2.2M	75x	as long as short
BingX CAKE-USDT	+0.0100%	4h	2.5073	+0.100%	—	$3.8M	—	as long as short
Kraken Futures PF_CAKEUSD	+0.0378%	1h	2.5132	+0.334%	$52K	$34K	10x	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0417% / S −0.0269%	1h	2.5113	+0.260%	$37K	—	100x	as long as short