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: Bybit against Binance−0.069%7-day average −0.020% · you buy dearer than you sell

Net, funding: paid 7d − costs−$87as in the Funding arb table

Net, price: spread back to 7d avg − costs−$73as in the Price arb table

costs, in and out, $10k−$680.678% of the position

Long on Binance Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.189%−$19 on $10k

Price spread, last 7 days+0.047%+$5 · spread now −0.069%, 7d avg −0.020%

Together, before fees−0.142%−$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: Bybit is 0.049% cheaper against Binance than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.020%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance CAKEUSDT	2.5609	0.0100	pay 0.0050% / 4h	49m 26s	$18.4M	$36.4M	75x
Short	Bybit CAKEUSDT	2.5591	0.0100	get 0.0050% / 4h	49m 26s	$5.3M	$3.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.069%Rate

Funding earned: $0
Price spread: −0.069% → −0.020%: −$4.87
Slippage, 4 orders: −$46.85
Fee Binance: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$72.72
Costs to cover: 0.678%
Break-even: never at this rate

Slippage from Binance: live order book, 7 min ago; Bybit: live order book, 3 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, 7 min ago	0.39 bp	11.6 bp −$12	27.1 bp −$271	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	1.96 bp	22.4 bp −$22	68.4 bp −$684	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	+0.0028%	4h	2.5599	−0.038%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	−0.659%	$113	$52K	5.5x	as long as short
ApeX Omni CAKEUSDT	+0.0046%	1h	2.5585	−0.093%	$13K	$698K	50x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5640	+0.122%	$3.2M	$2.7M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.5613	+0.015%	$2.4M	$80K	10x	as long as short
Binance CAKEUSDTlong	+0.0100%	4h	2.5609	long leg	$18.4M	$36.4M	75x
Bybit CAKEUSDTshort	+0.0100%	4h	2.5591	−0.069%	$5.3M	$3.9M	50x
Gate CAKE_USDT	+0.0100%	4h	2.5592	−0.065%	$895K	$751K	75x	as long as short
MEXC CAKE_USDT	+0.0100%	4h	2.5606	−0.011%	$14.1M	$2.7M	125x	as long as short
KuCoin CAKEUSDTM	+0.0100%	4h	2.5616	+0.028%	$2.5M	$5.7M	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	2.5627	+0.071%	$2.7M	$2.7M	75x	as long as short
BingX CAKE-USDT	+0.0100%	4h	2.5604	−0.018%	—	$3.6M	—	as long as short
Variational Omni CAKE	+0.0100%	4h	2.5562	−0.183%	$536K	$480K	—	as long as short
BloFin CAKE-USDT	+0.0145%	4h	2.5584	−0.096%	$998K	$364K	75x	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0422% / S −0.0272%	1h	2.5619	+0.041%	$38K	—	100x	as long as short
Kraken Futures PF_CAKEUSD	+0.0750%	1h	2.5613	+0.016%	$57K	$37K	10x	as long as short