Funding arb · Price arb /

CAKE

all CAKE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Aster against Bybit+0.063%7-day average +0.089% · you sell dearer than you buy

Net, funding: paid 7d − costs−$81as in the Funding arb table

Net, price: spread back to 7d avg − costs−$104as in the Price arb table

costs, in and out, $10k−$1021.018% of the position

Long on Bybit Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.210%+$21 on $10k

Price spread, last 7 days+0.047%+$5 · spread now +0.063%, 7d avg +0.089%

Together, before fees+0.257%+ Points / potential airdropAster: Stage 5 · farm board+$26 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: Aster is 0.026% cheaper against Bybit than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.089%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit CAKEUSDT	2.5440	0.0100	pay 0.0050% / 4h	3h 58m	$5.3M	$3.9M	50x
Short	Aster CAKEUSDT	2.5456	0.0100	get 0.0050% / 4h	3h 58m	$2.4M	$78K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Bybit. 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 BybitbpFee AsterbpOrdersPrice spread, now +0.063%Rate

Funding earned: $0
Price spread: +0.063% → +0.089%: −$2.6
Slippage, 4 orders: −$82.77
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Aster: 4 bp × 2 orders: −$8
Net: −$104.36
Costs to cover: 1.018%
Break-even: never at this rate

Slippage from Bybit: live order book, 9 min ago; Aster: live order book, 5 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 Bybit live order book, 9 min ago	3.93 bp	22.9 bp −$23	75.5 bp −$755	doesn't fit	doesn't fit
Sell Aster live order book, 5 min ago	4.12 bp	18.9 bp −$19	1268.1 bp −$12.7K	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
ApeX Omni CAKEUSDT	−0.0068%	1h	2.5494	+0.212%	$13K	$696K	50x	as long as short
Orderly PERP_CAKE_USDC	+0.0020%	4h	2.5477	+0.145%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	0.000%	$113	$52K	5.5x	as long as short
BloFin CAKE-USDT	+0.0080%	4h	2.5463	+0.090%	$995K	$363K	75x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5483	+0.169%	$3.2M	$2.7M	3x	as long as short
Aster CAKEUSDTshort	+0.0100%	4h	2.5456	+0.063%	$2.4M	$78K	10x
Binance CAKEUSDT	+0.0100%	4h	2.5466	+0.102%	$18.2M	$36.0M	75x	as long as short
Bybit CAKEUSDTlong	+0.0100%	4h	2.5440	long leg	$5.3M	$3.9M	50x
Gate CAKE_USDT	+0.0100%	4h	2.5432	−0.031%	$891K	$679K	75x	as long as short
MEXC CAKE_USDT	+0.0100%	4h	2.5452	+0.047%	$14.2M	$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	2.5449	+0.035%	$2.5M	$5.6M	50x	as long as short
Bitget CAKEUSDT	+0.0100%	4h	2.5466	+0.102%	$2.7M	$2.6M	75x	as long as short
BingX CAKE-USDT	+0.0100%	4h	2.5473	+0.130%	—	$3.6M	—	as long as short
Variational Omni CAKE	+0.0100%	4h	2.5472	+0.124%	$534K	$469K	—	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0420% / S −0.0272%	1h	2.5479	+0.152%	$38K	—	100x	as long as short
Kraken Futures PF_CAKEUSD	+0.0708%	1h	2.5509	+0.272%	$55K	$39K	10x	as long as short