Funding arb · Price arb /

CAKE

all CAKE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: KuCoin against Binance+0.007%7-day average +0.030% · you sell dearer than you buy

Net, funding: paid 7d − costs−$101as in the Funding arb table

Net, price: spread back to 7d avg − costs−$98as in the Price arb table

costs, in and out, $10k−$950.953% of the position

Long on Binance Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.054%−$5 on $10k

Price spread, last 7 days−0.007%−$1 · spread now +0.007%, 7d avg +0.030%

Together, before fees−0.061%−$6 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: KuCoin is 0.023% cheaper against Binance than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.030%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance CAKEUSDT	2.5137	0.0100	pay 0.0050% / 4h	1h 30m	$17.9M	$31.5M	75x
Short	KuCoin CAKEUSDTM	2.5139	0.0100	get 0.0050% / 4h	1h 30m	$2.5M	$5.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.007%Rate

Funding earned: $0
Price spread: +0.007% → +0.030%: −$2.34
Slippage, 4 orders: −$73.32
Fee Binance: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$97.65
Costs to cover: 0.953%
Break-even: never at this rate

Slippage from Binance: live order book, 11 min ago; KuCoin: live order book, 7 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	0.20 bp	9.5 bp −$10	33.0 bp −$330	doesn't fit	doesn't fit
Sell KuCoin live order book, 7 min ago	2.39 bp	30.9 bp −$31	106.2 bp −$1,062	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	+0.0013%	4h	2.5127	−0.041%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	+1.204%	$113	$52K	5.5x	as long as short
ApeX Omni CAKEUSDT	+0.0074%	1h	2.5136	−0.005%	$11K	$683K	50x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5158	+0.082%	$3.1M	$2.5M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.5150	+0.050%	$2.4M	$72K	10x	as long as short
Binance CAKEUSDTlong	+0.0100%	4h	2.5137	long leg	$17.9M	$31.5M	75x
Bybit CAKEUSDT	+0.0100%	4h	2.5110	−0.109%	$5.2M	$3.6M	50x	as long as short
Gate CAKE_USDT	+0.0100%	4h	2.5118	−0.077%	$875K	$649K	75x	as long as short
MEXC CAKE_USDT	+0.0100%	4h	2.5138	+0.003%	$13.7M	$2.9M	125x	as long as short
KuCoin CAKEUSDTMshort	+0.0100%	4h	2.5139	+0.007%	$2.5M	$5.5M	50x

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget CAKEUSDT	+0.0100%	4h	2.5134	−0.013%	$2.6M	$2.3M	75x	as long as short
BingX CAKE-USDT	+0.0100%	4h	2.5124	−0.053%	—	$3.7M	—	as long as short
Variational Omni CAKE	+0.0100%	4h	2.5110	−0.109%	$521K	$470K	—	as long as short
BloFin CAKE-USDT	+0.0125%	4h	2.5142	+0.019%	$997K	$373K	75x	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0416% / S −0.0269%	1h	2.5135	−0.008%	$37K	—	100x	as long as short
Kraken Futures PF_CAKEUSD	+0.1553%	1h	2.5159	+0.088%	$54K	$37K	10x	as long as short