Funding arb · Price arb /

CAKE

all CAKE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0093%/8h= +10.2% APRpaid last 24h +0.005%

Price spread now: Hyperliquid against BloFin+0.064%7-day average +0.067% · you sell dearer than you buy

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

Long on BloFin Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.148%−$15 on $10k

Price spread, last 4 days (all we have)+0.755%+$76 · spread now +0.064%, 7d avg +0.067%

Together, before fees+0.607%+ Points / potential airdropHyperliquid: Season 2 · farm board+$61 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.067%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.148%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin CAKE-USDT	2.5167	0.0007	pay 0.0003% / 4h	3h 09m	$988K	$315K	75x
Short	Hyperliquid CAKE	2.5183	0.0100	get 0.0013% / 1h	9m 01s	$3.2M	$1.8M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.064%Rate

Funding earned: $19.6
Price spread: +0.064% → +0.067%: −$0.33
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$1.73
Costs to cover: 0.210%
Break-even: 7.6 days

Slippage unknown: BloFin: live order book, 3 min ago; Hyperliquid: live order book, 2 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 BloFin live order book, 3 min ago	0.40 bp	11.8 bp −$12	21.0 bp −$210	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 2 min ago	2.98 bp	doesn't fit	doesn't fit	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	−0.1064%	4h	2.5170	+0.012%	$5.4M	$3.1M	50x	as long as short
Variational Omni CAKE	−0.0622%	4h	2.5181	+0.055%	$520K	$408K	—	as long as short
Kraken Futures PF_CAKEUSD	−0.0279%	1h	2.5206	+0.155%	$55K	$43K	10x	as long as short
ApeX Omni CAKEUSDT	−0.0247%	1h	2.5161	−0.024%	$11K	$670K	50x	as long as short
Orderly PERP_CAKE_USDC	−0.0148%	4h	2.5170	+0.012%	$7K	$13K	10x	as long as short
BloFin CAKE-USDTlong	+0.0007%	4h	2.5167	long leg	$988K	$315K	75x
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	+1.085%	$113	$52K	5.5x	as long as short
MEXC CAKE_USDT	+0.0058%	4h	2.5167	0.000%	$15.6M	$3.0M	125x	as long as short
Binance CAKEUSDT	+0.0058%	4h	2.5170	+0.012%	$17.7M	$26.8M	75x	as long as short
KuCoin CAKEUSDTM	+0.0086%	4h	2.5168	+0.004%	$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 CAKEshort	+0.0100%	1h	2.5183	+0.064%	$3.2M	$1.8M	3x
Aster CAKEUSDT	+0.0100%	4h	2.5173	+0.025%	$2.3M	$158K	10x	as long as short
Gate CAKE_USDT	+0.0100%	4h	2.5142	−0.099%	$898K	$596K	75x	as long as short
Bitget CAKEUSDT	+0.0100%	4h	2.5160	−0.028%	$2.6M	$2.0M	75x	as long as short
BingX CAKE-USDT	+0.0100%	4h	2.5172	+0.020%	—	$3.9M	—	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0381% / S −0.0214%	1h	2.5197	+0.120%	$37K	—	100x	as long as short