Funding arb · Price arb /

CAKE

all CAKE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0200%/8h= +21.9% APRpaid last 24h +0.043%

Price spread now: GMX against BloFin+0.067%7-day average — · you sell dearer than you buy

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

Long on BloFin Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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 +$6 a day on $10k at the current rate, and GMX is 0.067% dearer against BloFin than usual: you sell high and buy low: +$7 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	BloFin CAKE-USDT	2.5015	0.0069	pay 0.0035% / 4h	14m 33s	$995K	$356K	75x
Short	GMX CAKE/USD [WBTC.b-USDC]	2.5032	L +0.0416% / S −0.0269%	get 0.0034% / 1h	14m 33s	$37K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against BloFin. 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 BloFinbpFee GMXbpOrdersPrice spread, now +0.067%Rate

Funding earned: $41.96
Price spread: +0.067% → 0.000%: $6.69
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: $24.66
Costs to cover: 0.240%
Break-even: 2.9 days

Slippage unknown: BloFin: live order book, 23 min ago; GMX: 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 BloFin live order book, 23 min ago	0.60 bp	13.2 bp −$13	25.2 bp −$252	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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
ApeX Omni CAKEUSDT	+0.0001%	1h	2.5053	+0.152%	$11K	$678K	50x	as long as short
Orderly PERP_CAKE_USDC	+0.0021%	4h	2.5024	+0.036%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	+1.699%	$113	$52K	5.5x	as long as short
BloFin CAKE-USDTlong	+0.0069%	4h	2.5015	long leg	$995K	$356K	75x
Hyperliquid CAKE	+0.0100%	1h	2.5024	+0.036%	$3.1M	$2.5M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.5023	+0.032%	$2.4M	$80K	10x	as long as short
Binance CAKEUSDT	+0.0100%	4h	2.4998	−0.068%	$17.9M	$31.3M	75x	as long as short
Bybit CAKEUSDT	+0.0100%	4h	2.4990	−0.100%	$5.2M	$3.6M	50x	as long as short
Gate CAKE_USDT	+0.0100%	4h	2.4996	−0.076%	$871K	$643K	75x	as long as short
MEXC CAKE_USDT	+0.0100%	4h	2.4999	−0.064%	$13.3M	$2.9M	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	2.5003	−0.048%	$2.4M	$5.4M	50x	as long as short
Bitget CAKEUSDT	+0.0100%	4h	2.5008	−0.028%	$2.6M	$2.3M	75x	as long as short
BingX CAKE-USDT	+0.0100%	4h	2.5000	−0.060%	—	$3.8M	—	as long as short
Variational Omni CAKE	+0.0100%	4h	2.4996	−0.077%	$518K	$469K	—	as long as short
GMX CAKE/USD [WBTC.b-USDC]short	L +0.0416% / S −0.0269%	1h	2.5032	+0.067%	$37K	—	100x
Kraken Futures PF_CAKEUSD	+0.0751%	1h	2.5033	+0.073%	$52K	$38K	10x	as long as short