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: ApeX Omni against Binance−0.043%7-day average +0.041% · you buy dearer than you sell

Net, funding: paid 7d − costs−$65as in the Funding arb table

Net, price: spread back to 7d avg − costs−$58as in the Price arb table

costs, in and out, $10k−$490.493% of the position

Long on Binance Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.155%−$15 on $10k

Price spread, last 3 days (all we have)+0.117%+$12 · spread now −0.043%, 7d avg +0.041%

Together, before fees−0.038%−$4 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: ApeX Omni is 0.084% cheaper against Binance than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.041%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance CAKEUSDT	2.5473	0.0100	pay 0.0050% / 4h	3h 30m	$18.2M	$35.3M	75x
Short	ApeX Omni CAKEUSDT	2.5462	0.0100	get 0.0013% / 1h	30m 48s	$11K	$698K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Binance. 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 BinancebpFee ApeX OmnibpOrdersPrice spread, now −0.043%Rate

Funding earned: $0
Price spread: −0.043% → +0.041%: −$8.44
Slippage, 4 orders: −$29.29
Fee Binance: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$57.73
Costs to cover: 0.493%
Break-even: never at this rate

Slippage from Binance: live order book, 11 min ago; ApeX Omni: live order book, 43 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 Binance live order book, 11 min ago	0.39 bp	10.8 bp −$11	28.7 bp −$287	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 43 min ago	5.88 bp	12.4 bp −$12	87.9 bp −$879	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	+0.0021%	4h	2.5450	−0.090%	$5.3M	$3.9M	50x	as long as short
Orderly PERP_CAKE_USDC	+0.0023%	4h	2.5489	+0.063%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	−0.130%	$113	$52K	5.5x	as long as short
BloFin CAKE-USDT	+0.0053%	4h	2.5485	+0.047%	$998K	$365K	75x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5512	+0.153%	$3.2M	$2.6M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.5489	+0.064%	$2.4M	$78K	10x	as long as short
Binance CAKEUSDTlong	+0.0100%	4h	2.5473	long leg	$18.2M	$35.3M	75x
Gate CAKE_USDT	+0.0100%	4h	2.5466	−0.027%	$893K	$681K	75x	as long as short
MEXC CAKE_USDT	+0.0100%	4h	2.5475	+0.008%	$14.1M	$2.8M	125x	as long as short
KuCoin CAKEUSDTM	+0.0100%	4h	2.5471	−0.008%	$2.5M	$5.5M	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget CAKEUSDT	+0.0100%	4h	2.5494	+0.082%	$2.7M	$2.6M	75x	as long as short
BingX CAKE-USDT	+0.0100%	4h	2.5473	0.000%	—	$3.6M	—	as long as short
Variational Omni CAKE	+0.0100%	4h	2.5461	−0.047%	$534K	$470K	—	as long as short
ApeX Omni CAKEUSDTshort	+0.0100%	1h	2.5462	−0.043%	$11K	$698K	50x
GMX CAKE/USD [WBTC.b-USDC]	L +0.0421% / S −0.0272%	1h	2.5498	+0.096%	$38K	—	100x	as long as short
Kraken Futures PF_CAKEUSD	+0.0708%	1h	2.5527	+0.210%	$55K	$37K	10x	as long as short