Funding arb · Price arb /

CAKE

all CAKE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0383%/8h= +41.9% APRpaid last 24h −0.183%

Price spread now: Gate against Kraken Futures−0.182%7-day average — · you buy dearer than you sell

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

Long on Kraken Futures Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.809%−$81 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Gate is 0.182% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.182% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$18 on $10k: about 38 hours of funding at the current rate (+$11 a day). Mind the row above: over the last 7 days funding on this pair cost −0.809%, 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	Kraken Futures PF_CAKEUSD	2.4934	−0.0283	get 0.0035% / 1h	33m 17s	$55K	$44K	10x
Short	Gate CAKE_USDT	2.4889	0.0100	get 0.0050% / 4h	3h 33m	$887K	$590K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Kraken Futures. 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 Kraken FuturesbpFee GatebpOrdersPrice spread, now −0.182%Rate

Funding earned: $80.33
Price spread: −0.182% → 0.000%: −$18.17
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: $37.16
Costs to cover: 0.250%
Break-even: 3.8 days

Slippage unknown: Kraken Futures: no order-book sample; Gate: live order book, 63 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 Kraken Futures no order-book sample	—	—	—	—	—
Sell Gate live order book, 63 min ago	3.01 bp	44.4 bp −$44	109.7 bp −$1,097	doesn't fit	doesn't fit

Kraken Futures: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.1594%	4h	2.4882	−0.210%	$5.3M	$3.1M	50x	as long as short
Variational Omni CAKE	−0.0518%	4h	2.4901	−0.134%	$515K	$421K	—	as long as short
Kraken Futures PF_CAKEUSDlong	−0.0283%	1h	2.4934	long leg	$55K	$44K	10x
ApeX Omni CAKEUSDT	−0.0189%	1h	2.4935	+0.003%	$11K	$670K	50x	as long as short
Orderly PERP_CAKE_USDC	−0.0138%	4h	2.4902	−0.130%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	+2.028%	$113	$52K	5.5x	as long as short
MEXC CAKE_USDT	+0.0044%	4h	2.4895	−0.158%	$15.2M	$2.9M	125x	as long as short
Binance CAKEUSDT	+0.0046%	4h	2.4890	−0.177%	$17.5M	$27.0M	75x	as long as short
BloFin CAKE-USDT	+0.0046%	4h	2.4913	−0.085%	$989K	$314K	75x	as long as short
KuCoin CAKEUSDTM	+0.0070%	4h	2.4902	−0.130%	$2.4M	$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 CAKE	+0.0100%	1h	2.4922	−0.049%	$3.1M	$1.8M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.4924	−0.040%	$2.3M	$107K	10x	as long as short
Gate CAKE_USDTshort	+0.0100%	4h	2.4889	−0.182%	$887K	$590K	75x
Bitget CAKEUSDT	+0.0100%	4h	2.4905	−0.118%	$2.6M	$2.0M	75x	as long as short
BingX CAKE-USDT	+0.0100%	4h	2.4889	−0.182%	—	$3.8M	—	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0380% / S −0.0214%	1h	2.4927	−0.031%	$37K	—	100x	as long as short