Funding arb · Price arb /

CAKE

all CAKE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.013%

Price spread now: MEXC against ApeX Omni−0.067%51s7-day average −0.037% · you buy dearer than you sell

Net, funding: paid 7d − costs−$28as 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−$430.433% of the position

Long on ApeX Omni Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.154%+$15 on $10k

Price spread, last 3 days (all we have)−0.013%−$1 · spread now −0.067%, 7d avg −0.037%

Together, before fees+0.141%+$14 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: MEXC is 0.029% cheaper against ApeX Omni than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.037%. The two prices were read 51 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	2.5439	0.0100	pay 0.0013% / 1h	4m 33s	$11K	$697K	50x
Short	MEXC CAKE_USDT	2.5422	0.0100	get 0.0050% / 4h	3h 04m	$14.1M	$2.8M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.067%Rate

Funding earned: $0
Price spread: −0.067% → −0.037%: −$2.94
Slippage, 4 orders: −$29.31
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$46.26
Costs to cover: 0.433%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 4 min ago; MEXC: 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, 4 min ago	5.90 bp	13.5 bp −$13	102.4 bp −$1,024	doesn't fit	doesn't fit
Sell MEXC live order book, 4 min ago	4.13 bp	8.6 bp −$9	34.2 bp −$342	115.0 bp −$11.5K	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
Orderly PERP_CAKE_USDC	+0.0025%	4h	2.5411	−0.110%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	+0.004%	$113	$52K	5.5x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5472	+0.130%	$3.2M	$2.6M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.5436	−0.013%	$2.4M	$78K	10x	as long as short
Binance CAKEUSDT	+0.0100%	4h	2.5419	−0.077%	$18.2M	$34.7M	75x	as long as short
Bybit CAKEUSDT	+0.0100%	4h	2.5400	−0.153%	$5.3M	$3.8M	50x	as long as short
Gate CAKE_USDT	+0.0100%	4h	2.5412	−0.106%	$892K	$684K	75x	as long as short
MEXC CAKE_USDTshort	+0.0100%	4h	2.5422	−0.067%	$14.1M	$2.8M	125x
KuCoin CAKEUSDTM	+0.0100%	4h	2.5421	−0.071%	$2.5M	$5.5M	50x	as long as short
Bitget CAKEUSDT	+0.0100%	4h	2.5434	−0.020%	$2.7M	$2.5M	75x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX CAKE-USDT	+0.0100%	4h	2.5416	−0.090%	—	$3.5M	—	as long as short
Variational Omni CAKE	+0.0100%	4h	2.5385	−0.211%	$532K	$443K	—	as long as short
ApeX Omni CAKEUSDTlong	+0.0100%	1h	2.5439	long leg	$11K	$697K	50x
BloFin CAKE-USDT	+0.0159%	4h	2.5432	−0.028%	$999K	$359K	75x	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0421% / S −0.0272%	1h	2.5409	−0.119%	$38K	—	100x	as long as short
Kraken Futures PF_CAKEUSD	+0.0710%	1h	2.5444	+0.019%	$55K	$37K	10x	as long as short