Funding arb · Price arb /

CAKE

all CAKE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.013%

Price spread now: ApeX Omni against Gate+0.080%7-day average +0.052% · you sell dearer than you buy

Net, funding: paid 7d − costs−$106as in the Funding arb table

Net, price: spread back to 7d avg − costs−$89as in the Price arb table

costs, in and out, $10k−$920.919% of the position

Long on Gate Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.137%−$14 on $10k

Price spread, last 4 days (all we have)+0.346%+$35 · spread now +0.080%, 7d avg +0.052%

Together, before fees+0.209%+$21 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: ApeX Omni is 0.028% dearer against Gate than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.052%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate CAKE_USDT	2.5133	0.0100	pay 0.0050% / 4h	1h 59m	$876K	$646K	75x
Short	ApeX Omni CAKEUSDT	2.5153	0.0100	get 0.0013% / 1h	59m 26s	$11K	$683K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Gate. 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 GatebpFee ApeX OmnibpOrdersPrice spread, now +0.080%Rate

Funding earned: $0
Price spread: +0.080% → +0.052%: $2.79
Slippage, 4 orders: −$66.88
Fee Gate: 7.5 bp × 2 orders: −$15
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$89.08
Costs to cover: 0.919%
Break-even: never at this rate

Slippage from Gate: live order book, 2 min ago; ApeX Omni: live order book, 4 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 Gate live order book, 2 min ago	2.79 bp	35.7 bp −$36	129.0 bp −$1,290	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 4 min ago	4.57 bp	12.4 bp −$12	88.1 bp −$881	doesn't fit	doesn't fit

CAKE on 15 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
Orderly PERP_CAKE_USDC	+0.0013%	4h	2.5142	+0.036%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	+1.222%	$113	$52K	5.5x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5160	+0.106%	$3.1M	$2.6M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.5177	+0.174%	$2.4M	$72K	10x	as long as short
Binance CAKEUSDT	+0.0100%	4h	2.5159	+0.102%	$17.9M	$32.2M	75x	as long as short
Bybit CAKEUSDT	+0.0100%	4h	2.5134	+0.004%	$5.3M	$3.6M	50x	as long as short
Gate CAKE_USDTlong	+0.0100%	4h	2.5133	long leg	$876K	$646K	75x
MEXC CAKE_USDT	+0.0100%	4h	2.5143	+0.040%	$13.7M	$2.8M	125x	as long as short
KuCoin CAKEUSDTM	+0.0100%	4h	2.5153	+0.080%	$2.4M	$5.4M	50x	as long as short
Bitget CAKEUSDT	+0.0100%	4h	2.5169	+0.143%	$2.6M	$2.4M	75x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX CAKE-USDT	+0.0100%	4h	2.5152	+0.076%	—	$3.6M	—	as long as short
Variational Omni CAKE	+0.0100%	4h	2.5131	−0.010%	$533K	$458K	—	as long as short
ApeX Omni CAKEUSDTshort	+0.0100%	1h	2.5153	+0.080%	$11K	$683K	50x
GMX CAKE/USD [WBTC.b-USDC]	L +0.0417% / S −0.0269%	1h	2.5148	+0.061%	$37K	—	100x	as long as short
Kraken Futures PF_CAKEUSD	+0.0832%	1h	2.5199	+0.262%	$54K	$37K	10x	as long as short