Funding arb · Price arb /

CAKE

all CAKE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.028%

Price spread now: Gate against ApeX Omni−0.171%7-day average −0.047% · you buy dearer than you sell

Net, funding: paid 7d − costs−$85as in the Funding arb table

Net, price: spread back to 7d avg − costs−$112as in the Price arb table

costs, in and out, $10k−$1000.999% of the position

Long on ApeX Omni Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.149%+$15 on $10k

Price spread, last 4 days (all we have)+0.040%+$4 · spread now −0.171%, 7d avg −0.047%

Together, before fees+0.189%+$19 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 0.124% cheaper against ApeX Omni than usual: you would sell low and buy high, −$12 on $10k if it goes back to its 7-day average of −0.047%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni CAKEUSDT	2.5112	0.0100	pay 0.0013% / 1h	19m 27s	$11K	$668K	50x
Short	Gate CAKE_USDT	2.5069	0.0100	get 0.0050% / 4h	2h 19m	$897K	$514K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.171%Rate

Funding earned: $0
Price spread: −0.171% → −0.047%: −$12.42
Slippage, 4 orders: −$74.87
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$112.3
Costs to cover: 0.999%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 32 min ago; Gate: live order book, 30 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, 32 min ago	5.19 bp	12.9 bp −$13	97.6 bp −$976	doesn't fit	doesn't fit
Sell Gate live order book, 30 min ago	4.80 bp	38.6 bp −$39	128.8 bp −$1,288	doesn't fit	doesn't fit

CAKE on 16 exchanges

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
Kraken Futures PF_CAKEUSD	−0.0534%	1h	2.5119	+0.030%	$56K	$49K	10x	as long as short
Variational Omni CAKE	−0.0389%	4h	2.5090	−0.088%	$509K	$419K	—	as long as short
BingX CAKE-USDT	−0.0174%	4h	2.5082	−0.119%	—	$4.2M	—	as long as short
Orderly PERP_CAKE_USDC	−0.0108%	4h	2.5077	−0.139%	$7K	$13K	10x	as long as short
Bybit CAKEUSDT	−0.0080%	4h	2.5077	−0.139%	$5.4M	$3.0M	50x	as long as short
Aster CAKEUSDT	−0.0006%	4h	2.5096	−0.062%	$2.3M	$162K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	+1.306%	$113	$52K	5.5x	as long as short
BloFin CAKE-USDT	+0.0052%	4h	2.5097	−0.060%	$1.0M	$310K	75x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5098	−0.056%	$3.1M	$1.3M	3x	as long as short
Binance CAKEUSDT	+0.0100%	4h	2.5073	−0.155%	$17.5M	$25.7M	75x	as long as short

Show all 16 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate CAKE_USDTshort	+0.0100%	4h	2.5069	−0.171%	$897K	$514K	75x
MEXC CAKE_USDT	+0.0100%	4h	2.5068	−0.175%	$15.6M	$2.7M	125x	as long as short
KuCoin CAKEUSDTM	+0.0100%	4h	2.5083	−0.115%	$2.5M	$5.2M	50x	as long as short
Bitget CAKEUSDT	+0.0100%	4h	2.5076	−0.143%	$2.6M	$2.0M	75x	as long as short
ApeX Omni CAKEUSDTlong	+0.0100%	1h	2.5112	long leg	$11K	$668K	50x
GMX CAKE/USD [WBTC.b-USDC]	L +0.0380% / S −0.0214%	1h	2.5088	−0.094%	$37K	—	100x	as long as short