Funding arb · Price arb /

CAKE

all CAKE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0602%/8h= +65.9% APRpaid last 24h +0.212%

Price spread now: Kraken Futures against BingX+0.321%7-day average — · you sell dearer than you buy

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

Long on BingX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.901%+$90 on $10k

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 +$18 a day on $10k at the current rate, and Kraken Futures is 0.321% dearer against BingX than usual: you sell high and buy low: +$32 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	BingX CAKE-USDT	2.4933	0.0100	pay 0.0050% / 4h	2h 30m	—	$3.8M	—
Short	Kraken Futures PF_CAKEUSD	2.5013	0.0702	get 0.0088% / 1h	30m 01s	$52K	$37K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.321%Rate

Funding earned: $126.39
Price spread: +0.321% → 0.000%: $32.07
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $138.46
Costs to cover: 0.200%
Break-even: from the start

Slippage unknown: BingX: live order book, 5 min ago; Kraken Futures: 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 BingX live order book, 5 min ago	2.41 bp	8.3 bp −$8	10.6 bp −$106	25.4 bp −$2,536	48.8 bp −$24.4K
Sell Kraken Futures no order-book sample	—	—	—	—	—

Kraken Futures: 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	−0.0672%	4h	2.4920	−0.052%	$5.2M	$3.5M	50x	as long as short
ApeX Omni CAKEUSDT	−0.0324%	1h	2.4902	−0.124%	$10K	$678K	50x	as long as short
Variational Omni CAKE	−0.0121%	4h	2.4866	−0.268%	$509K	$460K	—	as long as short
Orderly PERP_CAKE_USDC	−0.0051%	4h	2.4934	+0.004%	$7K	$14K	10x	as long as short
KuCoin CAKEUSDTM	−0.0022%	4h	2.4945	+0.048%	$2.4M	$5.3M	50x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	+2.033%	$113	$52K	5.5x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.4960	+0.108%	$3.1M	$2.0M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.4950	+0.070%	$2.3M	$77K	10x	as long as short
Binance CAKEUSDT	+0.0100%	4h	2.4943	+0.040%	$17.5M	$30.5M	75x	as long as short
Gate CAKE_USDT	+0.0100%	4h	2.4898	−0.140%	$864K	$608K	75x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC CAKE_USDT	+0.0100%	4h	2.4940	+0.028%	$13.2M	$2.8M	125x	as long as short
Bitget CAKEUSDT	+0.0100%	4h	2.4954	+0.084%	$2.5M	$2.3M	75x	as long as short
BingX CAKE-USDTlong	+0.0100%	4h	2.4933	long leg	—	$3.8M	—
BloFin CAKE-USDT	+0.0156%	4h	2.4898	−0.140%	$986K	$315K	75x	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0416% / S −0.0269%	1h	2.4956	+0.091%	$37K	—	100x	as long as short
Kraken Futures PF_CAKEUSDshort	+0.0702%	1h	2.5013	+0.321%	$52K	$37K	10x