Funding you earn now, next payment 12:00 UTC+0.1791%/8h= +196.1% APRnext payment +$8.96 per $10,000 · paid last 24h +0.024%
Price spread now: BloFin against Bybit−0.096%72s7-day average +0.013% · you buy dearer than you sell
Net, funding: paid 7d − costs−$41as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$750.755% of the position
Funding, last 7 days+0.341%+$34 on $10k
+Price spread, last 4 days (all we have)−0.626%−$63 · spread now −0.096%, 7d avg +0.013%
=Funding pays, the price is against you. BloFin is 0.109% cheaper against Bybit than usual: you would sell low and buy high (spread −0.096% now, against its 7-day average of +0.013%). If the spread goes back, that is −$11 on $10k: about 5 hours of funding at the current rate (+$54 a day). At the pace of the last 7 days (+0.341% in total) that is about 2.2 days. The two prices were read 72 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.341% in total (about 17.8% a year). A funding rate is set anew for every payment; at this rate the next one is about +$8.96 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit CAKEUSDT | 2.4972 | −0.1692 | get 0.0846% / 4h | 3h 26m | $5.4M | $3.1M | 50x |
| Short | BloFin CAKE-USDT | 2.4948 | 0.0099 | get 0.0050% / 4h | 3h 26m | $991K | $314K | 75x |
Bybit CAKEUSDT
BloFin CAKE-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BloFin against Bybit. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $376.13
- Price spread: −0.096% → +0.013%
- −$10.87
- Slippage, 4 orders
- −$52.5
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- $289.76
- Costs to cover
- 0.755%
- Break-even
- 1.6 days
Slippage from Bybit: live order book, 2 min ago; BloFin: live order book, 51 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, 2 min ago | 2.00 bp | 21.7 bp −$22 | 51.7 bp −$517 | doesn't fit | doesn't fit |
| Sell BloFin live order book, 51 min ago | 1.21 bp | 10.0 bp −$10 | 23.8 bp −$238 | 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 CAKEUSDTlong | −0.1692% | 4h | 2.4972 | long leg | $5.4M | $3.1M | 50x | |
| Variational Omni CAKE | −0.0565% | 4h | 2.4896 | −0.305% | $514K | $418K | — | as long as short |
| Kraken Futures PF_CAKEUSD | −0.0282% | 1h | 2.4987 | +0.060% | $55K | $44K | 10x | as long as short |
| ApeX Omni CAKEUSDT | −0.0268% | 1h | 2.4914 | −0.232% | $11K | $669K | 50x | as long as short |
| Orderly PERP_CAKE_USDC | −0.0143% | 4h | 2.4960 | −0.048% | $7K | $14K | 10x | as long as short |
| Injective CAKE/USDC PERP | +0.0033% | 1h | 2.5440 | +1.874% | $113 | $52K | 5.5x | as long as short |
| MEXC CAKE_USDT | +0.0050% | 4h | 2.4957 | −0.060% | $15.2M | $2.9M | 125x | as long as short |
| Binance CAKEUSDT | +0.0050% | 4h | 2.4990 | +0.072% | $17.6M | $27.0M | 75x | as long as short |
| KuCoin CAKEUSDTM | +0.0056% | 4h | 2.4973 | +0.004% | $2.4M | $5.1M | 50x | as long as short |
| BloFin CAKE-USDTshort | +0.0099% | 4h | 2.4948 | −0.096% | $991K | $314K | 75x |
Variational Omni CAKE
Kraken Futures PF_CAKEUSD
ApeX Omni CAKEUSDT
Orderly PERP_CAKE_USDC
Injective CAKE/USDC PERP
MEXC CAKE_USDT
Binance CAKEUSDT
KuCoin CAKEUSDTMShow all 16 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid CAKE | +0.0100% | 1h | 2.4982 | +0.040% | $3.1M | $1.8M | 3x | as long as short |
| Aster CAKEUSDT | +0.0100% | 4h | 2.4970 | −0.008% | $2.3M | $108K | 10x | as long as short |
| Gate CAKE_USDT | +0.0100% | 4h | 2.4931 | −0.164% | $889K | $592K | 75x | as long as short |
| Bitget CAKEUSDT | +0.0100% | 4h | 2.4957 | −0.060% | $2.6M | $2.0M | 75x | as long as short |
| BingX CAKE-USDT | +0.0100% | 4h | 2.4949 | −0.092% | — | $3.8M | — | as long as short |
| GMX CAKE/USD [WBTC.b-USDC] | L +0.0381% / S −0.0214% | 1h | 2.4976 | +0.016% | $37K | — | 100x | as long as short |
Hyperliquid CAKE
Aster CAKEUSDT
Gate CAKE_USDT
Bitget CAKEUSDT
BingX CAKE-USDT
GMX CAKE/USD [WBTC.b-USDC]