Funding arb · Price arb /

CAKE

all CAKE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Binance against MEXC−0.021%7-day average −0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$350.355% of the position

Long on MEXC Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.001%$0 on $10k

Price spread, last 7 days+0.036%+$4 · spread now −0.021%, 7d avg −0.001%

Together, before fees+0.037%+$4 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: Binance is 0.020% cheaper against MEXC than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of −0.001%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC CAKE_USDT	2.5012	0.0100	pay 0.0050% / 4h	1h 53m	$15.6M	$2.6M	125x
Short	Binance CAKEUSDT	2.5007	0.0100	get 0.0050% / 4h	1h 53m	$17.5M	$25.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against MEXC. 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 MEXCbpFee BinancebpOrdersPrice spread, now −0.021%Rate

Funding earned: $0
Price spread: −0.021% → −0.001%: −$2.02
Slippage, 4 orders: −$21.48
Fee MEXC: 2 bp × 2 orders: −$4
Fee Binance: 5 bp × 2 orders: −$10
Net: −$37.51
Costs to cover: 0.355%
Break-even: never at this rate

Slippage from MEXC: live order book, 3 min ago; Binance: live order book, 10 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 MEXC live order book, 3 min ago	1.60 bp	7.9 bp −$8	38.2 bp −$382	90.8 bp −$9,075	doesn't fit
Sell Binance live order book, 10 min ago	0.20 bp	11.2 bp −$11	22.8 bp −$228	120.6 bp −$12.1K	doesn't fit

CAKE on 16 exchanges

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
Variational Omni CAKE	−0.0149%	4h	2.5029	+0.066%	$495K	$426K	—	as long as short
Orderly PERP_CAKE_USDC	−0.0091%	4h	2.5013	+0.004%	$7K	$13K	10x	as long as short
Kraken Futures PF_CAKEUSD	−0.0005%	1h	2.5053	+0.162%	$56K	$45K	10x	as long as short
Aster CAKEUSDT	0.0000%	4h	2.5013	+0.005%	$2.3M	$177K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	+1.711%	$113	$52K	5.5x	as long as short
BloFin CAKE-USDT	+0.0054%	4h	2.5016	+0.016%	$1.0M	$307K	75x	as long as short
BingX CAKE-USDT	+0.0070%	4h	2.5013	+0.004%	—	$4.2M	—	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5040	+0.112%	$3.1M	$1.3M	3x	as long as short
Binance CAKEUSDTshort	+0.0100%	4h	2.5007	−0.021%	$17.5M	$25.4M	75x
Bybit CAKEUSDT	+0.0100%	4h	2.5016	+0.016%	$5.4M	$3.1M	50x	as long as short

Show all 16 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate CAKE_USDT	+0.0100%	4h	2.5007	−0.020%	$898K	$512K	75x	as long as short
MEXC CAKE_USDTlong	+0.0100%	4h	2.5012	long leg	$15.6M	$2.6M	125x
KuCoin CAKEUSDTM	+0.0100%	4h	2.5016	+0.016%	$2.4M	$5.2M	50x	as long as short
Bitget CAKEUSDT	+0.0100%	4h	2.5018	+0.024%	$2.6M	$2.0M	75x	as long as short
ApeX Omni CAKEUSDT	+0.0100%	1h	2.5028	+0.064%	$11K	$669K	50x	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0379% / S −0.0214%	1h	2.5026	+0.056%	$37K	—	100x	as long as short