Funding arb · Price arb /

CAKE

all CAKE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Aster against Binance−0.011%7-day average +0.064% · you buy dearer than you sell

Net, funding: paid 7d − costs−$89as in the Funding arb table

Net, price: spread back to 7d avg − costs−$99as in the Price arb table

costs, in and out, $10k−$910.914% of the position

Long on Binance Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.022%+$2 on $10k

Price spread, last 7 days+0.017%+$2 · spread now −0.011%, 7d avg +0.064%

Together, before fees+0.038%+ Points / potential airdropAster: Stage 5 · farm board+$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: Aster is 0.075% 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 +0.064%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance CAKEUSDT	2.5558	0.0100	pay 0.0050% / 4h	2h 27m	$18.3M	$38.8M	75x
Short	Aster CAKEUSDT	2.5555	0.0100	get 0.0050% / 4h	2h 27m	$2.4M	$99K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster 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 AsterbpOrdersPrice spread, now −0.011%Rate

Funding earned: $0
Price spread: −0.011% → +0.064%: −$7.5
Slippage, 4 orders: −$73.41
Fee Binance: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$98.92
Costs to cover: 0.914%
Break-even: never at this rate

Slippage from Binance: live order book, 14 min ago; Aster: live order book, 1 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, 14 min ago	0.20 bp	10.6 bp −$11	27.8 bp −$278	doesn't fit	doesn't fit
Sell Aster live order book, 1 min ago	4.11 bp	23.5 bp −$24	1477.8 bp −$14.8K	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
Orderly PERP_CAKE_USDC	+0.0010%	4h	2.5542	−0.061%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	−0.460%	$113	$52K	5.5x	as long as short
Aster CAKEUSDTshort	+0.0100%	4h	2.5555	−0.011%	$2.4M	$99K	10x
Binance CAKEUSDTlong	+0.0100%	4h	2.5558	long leg	$18.3M	$38.8M	75x
Bybit CAKEUSDT	+0.0100%	4h	2.5531	−0.104%	$5.3M	$4.1M	50x	as long as short
Gate CAKE_USDT	+0.0100%	4h	2.5536	−0.084%	$890K	$859K	75x	as long as short
MEXC CAKE_USDT	+0.0100%	4h	2.5555	−0.010%	$14.3M	$2.9M	125x	as long as short
KuCoin CAKEUSDTM	+0.0100%	4h	2.5554	−0.014%	$2.5M	$5.7M	50x	as long as short
Bitget CAKEUSDT	+0.0100%	4h	2.5560	+0.010%	$2.7M	$2.8M	75x	as long as short
BingX CAKE-USDT	+0.0100%	4h	2.5543	−0.057%	—	$3.5M	—	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni CAKE	+0.0100%	4h	2.5504	−0.210%	$545K	$497K	—	as long as short
ApeX Omni CAKEUSDT	+0.0100%	1h	2.5511	−0.182%	$13K	$696K	50x	as long as short
Hyperliquid CAKE	+0.0101%	1h	2.5593	+0.139%	$3.2M	$3.4M	3x	as long as short
BloFin CAKE-USDT	+0.0119%	4h	2.5542	−0.061%	$995K	$355K	75x	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0421% / S −0.0272%	1h	2.5547	−0.040%	$38K	—	100x	as long as short
Kraken Futures PF_CAKEUSD	+0.0495%	1h	2.5631	+0.286%	$57K	$38K	10x	as long as short