Funding arb · Price arb /

CAKE

all CAKE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Gate against BingX−0.103%7-day average +0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs−$74as in the Funding arb table

Net, price: spread back to 7d avg − costs−$96as in the Price arb table

costs, in and out, $10k−$860.860% of the position

Long on BingX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.120%+$12 on $10k

Price spread, last 4 days (all we have)+0.151%+$15 · spread now −0.103%, 7d avg +0.001%

Together, before fees+0.271%+$27 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: Gate is 0.104% cheaper against BingX than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of +0.001%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX CAKE-USDT	2.5188	0.0100	pay 0.0050% / 4h	3h 15m	—	$3.8M	—
Short	Gate CAKE_USDT	2.5162	0.0100	get 0.0050% / 4h	3h 15m	$898K	$595K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against BingX. 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 BingXbpFee GatebpOrdersPrice spread, now −0.103%Rate

Funding earned: $0
Price spread: −0.103% → +0.001%: −$10.37
Slippage, 4 orders: −$60.99
Fee BingX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$96.36
Costs to cover: 0.860%
Break-even: never at this rate

Slippage from BingX: live order book, 5 min ago; Gate: live order book, 17 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 BingX live order book, 5 min ago	2.79 bp	8.5 bp −$8	12.1 bp −$121	24.3 bp −$2,431	48.7 bp −$24.3K
Sell Gate live order book, 17 min ago	3.01 bp	33.8 bp −$34	106.0 bp −$1,060	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
Bybit CAKEUSDT	−0.1136%	4h	2.5182	−0.024%	$5.4M	$3.1M	50x	as long as short
Variational Omni CAKE	−0.0624%	4h	2.5166	−0.086%	$520K	$408K	—	as long as short
Kraken Futures PF_CAKEUSD	−0.0280%	1h	2.5202	+0.054%	$55K	$43K	10x	as long as short
ApeX Omni CAKEUSDT	−0.0267%	1h	2.5156	−0.127%	$11K	$670K	50x	as long as short
Orderly PERP_CAKE_USDC	−0.0145%	4h	2.5190	+0.008%	$7K	$13K	10x	as long as short
BloFin CAKE-USDT	+0.0023%	4h	2.5173	−0.060%	$992K	$316K	75x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	+1.000%	$113	$52K	5.5x	as long as short
MEXC CAKE_USDT	+0.0052%	4h	2.5186	−0.008%	$15.6M	$3.0M	125x	as long as short
Binance CAKEUSDT	+0.0054%	4h	2.5193	+0.020%	$17.7M	$26.8M	75x	as long as short
KuCoin CAKEUSDTM	+0.0068%	4h	2.5186	−0.008%	$2.5M	$5.1M	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid CAKE	+0.0100%	1h	2.5212	+0.095%	$3.2M	$1.8M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.5190	+0.008%	$2.3M	$158K	10x	as long as short
Gate CAKE_USDTshort	+0.0100%	4h	2.5162	−0.103%	$898K	$595K	75x
Bitget CAKEUSDT	+0.0100%	4h	2.5177	−0.044%	$2.6M	$2.0M	75x	as long as short
BingX CAKE-USDTlong	+0.0100%	4h	2.5188	long leg	—	$3.8M	—
GMX CAKE/USD [WBTC.b-USDC]	L +0.0381% / S −0.0214%	1h	2.5216	+0.110%	$37K	—	100x	as long as short