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: Binance against Bitget−0.096%7-day average +0.007% · you buy dearer than you sell

Net, funding: paid 7d − costs−$53as in the Funding arb table

Net, price: spread back to 7d avg − costs−$69as in the Price arb table

costs, in and out, $10k−$580.585% of the position

Long on Bitget Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.050%+$5 on $10k

Price spread, last 7 days+0.081%+$8 · spread now −0.096%, 7d avg +0.007%

Together, before fees+0.131%+$13 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: Binance is 0.103% cheaper against Bitget than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of +0.007%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget CAKEUSDT	2.5039	0.0100	pay 0.0050% / 4h	3h 57m	$2.5M	$2.4M	75x
Short	Binance CAKEUSDT	2.5015	0.0100	get 0.0050% / 4h	3h 57m	$17.8M	$31.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Bitget. 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 BitgetbpFee BinancebpOrdersPrice spread, now −0.096%Rate

Funding earned: $0
Price spread: −0.096% → +0.007%: −$10.32
Slippage, 4 orders: −$36.46
Fee Bitget: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$68.78
Costs to cover: 0.585%
Break-even: never at this rate

Slippage from Bitget: live order book, 5 min ago; Binance: live order book, 14 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 Bitget live order book, 5 min ago	2.00 bp	14.4 bp −$14	51.4 bp −$514	doesn't fit	doesn't fit
Sell Binance live order book, 14 min ago	0.20 bp	10.2 bp −$10	21.9 bp −$219	115.4 bp −$11.5K	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	−0.0573%	4h	2.5000	−0.156%	$5.2M	$3.6M	50x	as long as short
Orderly PERP_CAKE_USDC	+0.0016%	4h	2.5008	−0.124%	$7K	$14K	10x	as long as short
ApeX Omni CAKEUSDT	+0.0027%	1h	2.5042	+0.012%	$11K	$678K	50x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	+1.602%	$113	$52K	5.5x	as long as short
BloFin CAKE-USDT	+0.0071%	4h	2.5028	−0.044%	$997K	$356K	75x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5039	0.000%	$3.1M	$2.5M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.5041	+0.009%	$2.4M	$79K	10x	as long as short
Binance CAKEUSDTshort	+0.0100%	4h	2.5015	−0.096%	$17.8M	$31.3M	75x
Gate CAKE_USDT	+0.0100%	4h	2.5006	−0.132%	$872K	$635K	75x	as long as short
MEXC CAKE_USDT	+0.0100%	4h	2.5026	−0.052%	$13.3M	$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	2.5026	−0.052%	$2.4M	$5.4M	50x	as long as short
Bitget CAKEUSDTlong	+0.0100%	4h	2.5039	long leg	$2.5M	$2.4M	75x
BingX CAKE-USDT	+0.0100%	4h	2.5016	−0.092%	—	$3.8M	—	as long as short
Variational Omni CAKE	+0.0100%	4h	2.5011	−0.113%	$513K	$475K	—	as long as short
Kraken Futures PF_CAKEUSD	+0.0352%	1h	2.5045	+0.023%	$52K	$38K	10x	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0415% / S −0.0269%	1h	2.5017	−0.088%	$37K	—	100x	as long as short