Funding arb · Price arb /

CAKE

all CAKE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Variational Omni against Binance+0.308%7-day average −0.019% · you sell dearer than you buy

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

Long on Binance Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.049%−$5 on $10k

Price spread, last 4 days (all we have)−0.281%−$28 · spread now +0.308%, 7d avg −0.019%

Together, before fees−0.330%+ Points / potential airdropVariational Omni: Active · farm board−$33 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: Variational Omni is 0.327% dearer against Binance than usual: you sell high and buy low, +$33 on $10k if it goes back to its 7-day average of −0.019%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance CAKEUSDT	2.4824	0.0100	pay 0.0050% / 4h	3h 01m	$17.6M	$31.1M	75x
Short	Variational Omni CAKE	2.4901	0.0100	get 0.0050% / 4h	3h 01m	$510K	$470K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational 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 Variational OmnibpOrdersPrice spread, now +0.308%Rate

Funding earned: $0
Price spread: +0.308% → −0.019%: $32.71
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $22.71
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Binance: live order book, 10 min ago; Variational Omni: RFQ quote, 52 min ago. 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, 10 min ago	0.20 bp	10.6 bp −$11	26.3 bp −$263	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 52 min ago	4.72 bp	doesn't fit	50.4 bp −$504	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
ApeX Omni CAKEUSDT	−0.0109%	1h	2.4889	+0.261%	$10K	$677K	50x	as long as short
Bybit CAKEUSDT	−0.0030%	4h	2.4826	+0.008%	$5.1M	$3.5M	50x	as long as short
Orderly PERP_CAKE_USDC	−0.0011%	4h	2.4864	+0.161%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	+2.481%	$113	$52K	5.5x	as long as short
BloFin CAKE-USDT	+0.0097%	4h	2.4864	+0.161%	$987K	$336K	75x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.4831	+0.028%	$3.1M	$2.2M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.4837	+0.053%	$2.3M	$80K	10x	as long as short
Binance CAKEUSDTlong	+0.0100%	4h	2.4824	long leg	$17.6M	$31.1M	75x
Gate CAKE_USDT	+0.0100%	4h	2.4807	−0.069%	$862K	$638K	75x	as long as short
MEXC CAKE_USDT	+0.0100%	4h	2.4831	+0.028%	$13.1M	$2.8M	125x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin CAKEUSDTM	+0.0100%	4h	2.4810	−0.057%	$2.4M	$5.4M	50x	as long as short
Bitget CAKEUSDT	+0.0100%	4h	2.4849	+0.100%	$2.4M	$2.4M	75x	as long as short
BingX CAKE-USDT	+0.0100%	4h	2.4827	+0.012%	—	$3.8M	—	as long as short
Variational Omni CAKEshort	+0.0100%	4h	2.4901	+0.308%	$510K	$470K	—
Kraken Futures PF_CAKEUSD	+0.0354%	1h	2.4911	+0.352%	$52K	$37K	10x	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0414% / S −0.0269%	1h	2.4879	+0.222%	$37K	—	100x	as long as short