Funding arb · Price arb /

CAKE

all CAKE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0185%/8h= +20.3% APRpaid last 24h +0.045%

Price spread now: GMX against Binance+0.075%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Binance Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and GMX is 0.075% dearer against Binance than usual: you sell high and buy low: +$7 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance CAKEUSDT	2.5029	0.0084	pay 0.0042% / 4h	1h 55m	$17.6M	$29.8M	75x
Short	GMX CAKE/USD [WBTC.b-USDC]	2.5048	L +0.0416% / S −0.0269%	get 0.0034% / 1h	55m 07s	$37K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now +0.075%Rate

Funding earned: $38.9
Price spread: +0.075% → 0.000%: $7.5
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: $24.39
Costs to cover: 0.220%
Break-even: 2.6 days

Slippage unknown: Binance: live order book, 1 min ago; GMX: no order-book sample. Net counts fees only.

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, 1 min ago	0.20 bp	11.4 bp −$11	27.4 bp −$274	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0657%	4h	2.5015	−0.056%	$5.2M	$3.5M	50x	as long as short
Variational Omni CAKE	−0.0290%	4h	2.5011	−0.073%	$514K	$434K	—	as long as short
KuCoin CAKEUSDTM	−0.0128%	4h	2.5040	+0.044%	$2.4M	$5.2M	50x	as long as short
ApeX Omni CAKEUSDT	−0.0121%	1h	2.5048	+0.076%	$11K	$675K	50x	as long as short
Orderly PERP_CAKE_USDC	−0.0083%	4h	2.5027	−0.008%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	+1.642%	$113	$52K	5.5x	as long as short
BloFin CAKE-USDT	+0.0054%	4h	2.5022	−0.028%	$986K	$317K	75x	as long as short
Binance CAKEUSDTlong	+0.0084%	4h	2.5029	long leg	$17.6M	$29.8M	75x
MEXC CAKE_USDT	+0.0088%	4h	2.5025	−0.016%	$13.4M	$2.7M	125x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5054	+0.100%	$3.1M	$1.9M	3x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster CAKEUSDT	+0.0100%	4h	2.5055	+0.103%	$2.4M	$77K	10x	as long as short
Gate CAKE_USDT	+0.0100%	4h	2.5012	−0.068%	$866K	$587K	75x	as long as short
Bitget CAKEUSDT	+0.0100%	4h	2.5048	+0.076%	$2.5M	$2.2M	75x	as long as short
BingX CAKE-USDT	+0.0100%	4h	2.5029	0.000%	—	$3.8M	—	as long as short
Kraken Futures PF_CAKEUSD	+0.0377%	1h	2.5157	+0.510%	$53K	$34K	10x	as long as short
GMX CAKE/USD [WBTC.b-USDC]short	L +0.0416% / S −0.0269%	1h	2.5048	+0.075%	$37K	—	100x