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: Bitget against Gate+0.067%7-day average +0.027% · you sell dearer than you buy

Net, funding: paid 7d − costs−$112as in the Funding arb table

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

costs, in and out, $10k−$1081.080% of the position

Long on Gate Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.036%−$4 on $10k

Price spread, last 4 days (all we have)−0.098%−$10 · spread now +0.067%, 7d avg +0.027%

Together, before fees−0.133%−$13 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: Bitget is 0.041% dearer against Gate than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.027%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate CAKE_USDT	2.5233	0.0100	pay 0.0050% / 4h	2h 27m	$879K	$670K	75x
Short	Bitget CAKEUSDT	2.5250	0.0100	get 0.0050% / 4h	2h 27m	$2.6M	$2.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.067%Rate

Funding earned: $0
Price spread: +0.067% → +0.027%: $4.08
Slippage, 4 orders: −$80.97
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$103.89
Costs to cover: 1.080%
Break-even: never at this rate

Slippage from Gate: live order book, 39 min ago; Bitget: 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 Gate live order book, 39 min ago	2.36 bp	34.2 bp −$34	85.3 bp −$853	doesn't fit	doesn't fit
Sell Bitget live order book, 5 min ago	2.38 bp	18.7 bp −$19	39.0 bp −$390	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	+0.0017%	4h	2.5245	+0.048%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	+0.820%	$113	$52K	5.5x	as long as short
ApeX Omni CAKEUSDT	+0.0077%	1h	2.5225	−0.032%	$11K	$681K	50x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5265	+0.127%	$3.2M	$2.6M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.5250	+0.066%	$2.4M	$75K	10x	as long as short
Binance CAKEUSDT	+0.0100%	4h	2.5239	+0.025%	$18.0M	$33.8M	75x	as long as short
Bybit CAKEUSDT	+0.0100%	4h	2.5220	−0.052%	$5.3M	$3.7M	50x	as long as short
Gate CAKE_USDTlong	+0.0100%	4h	2.5233	long leg	$879K	$670K	75x
MEXC CAKE_USDT	+0.0100%	4h	2.5237	+0.016%	$13.8M	$2.9M	125x	as long as short
KuCoin CAKEUSDTM	+0.0100%	4h	2.5232	−0.004%	$2.4M	$5.5M	50x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget CAKEUSDTshort	+0.0100%	4h	2.5250	+0.067%	$2.6M	$2.5M	75x
BingX CAKE-USDT	+0.0100%	4h	2.5228	−0.020%	—	$3.5M	—	as long as short
Variational Omni CAKE	+0.0100%	4h	2.5191	−0.166%	$536K	$458K	—	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0417% / S −0.0269%	1h	2.5245	+0.046%	$37K	—	100x	as long as short
Kraken Futures PF_CAKEUSD	+0.0829%	1h	2.5268	+0.139%	$54K	$37K	10x	as long as short