Funding arb · Price arb /

CAKE

all CAKE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.013%

Price spread now: Bybit against ApeX Omni−0.012%7-day average −0.069% · you buy dearer than you sell

Net, funding: paid 7d − costs−$70as in the Funding arb table

Net, price: spread back to 7d avg − costs−$61as in the Price arb table

costs, in and out, $10k−$670.666% of the position

Long on ApeX Omni Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.036%−$4 on $10k

Price spread, last 4 days (all we have)−0.426%−$43 · spread now −0.012%, 7d avg −0.069%

Together, before fees−0.461%−$46 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: Bybit is 0.057% dearer against ApeX Omni than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.069%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni CAKEUSDT	2.5159	0.0100	pay 0.0013% / 1h	3m 24s	$11K	$681K	50x
Short	Bybit CAKEUSDT	2.5156	0.0100	get 0.0050% / 4h	2h 03m	$5.3M	$3.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.012%Rate

Funding earned: $0
Price spread: −0.012% → −0.069%: $5.72
Slippage, 4 orders: −$45.62
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$60.9
Costs to cover: 0.666%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 65 min ago; Bybit: live order book, 4 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, 65 min ago	5.90 bp	13.5 bp −$13	102.4 bp −$1,024	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	1.99 bp	17.7 bp −$18	69.2 bp −$692	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	2.5172	+0.052%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	+1.117%	$113	$52K	5.5x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5191	+0.127%	$3.1M	$2.6M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.5198	+0.155%	$2.4M	$76K	10x	as long as short
Binance CAKEUSDT	+0.0100%	4h	2.5167	+0.032%	$17.9M	$33.0M	75x	as long as short
Bybit CAKEUSDTshort	+0.0100%	4h	2.5156	−0.012%	$5.3M	$3.7M	50x
Gate CAKE_USDT	+0.0100%	4h	2.5155	−0.016%	$877K	$673K	75x	as long as short
MEXC CAKE_USDT	+0.0100%	4h	2.5177	+0.072%	$13.8M	$2.9M	125x	as long as short
KuCoin CAKEUSDTM	+0.0100%	4h	2.5171	+0.048%	$2.4M	$5.5M	50x	as long as short
Bitget CAKEUSDT	+0.0100%	4h	2.5185	+0.103%	$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	2.5164	+0.020%	—	$3.6M	—	as long as short
Variational Omni CAKE	+0.0100%	4h	2.5136	−0.093%	$533K	$459K	—	as long as short
ApeX Omni CAKEUSDTlong	+0.0100%	1h	2.5159	long leg	$11K	$681K	50x
GMX CAKE/USD [WBTC.b-USDC]	L +0.0417% / S −0.0269%	1h	2.5175	+0.064%	$37K	—	100x	as long as short
Kraken Futures PF_CAKEUSD	+0.0832%	1h	2.5176	+0.067%	$54K	$37K	10x	as long as short