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 MEXC+0.064%7-day average −0.009% · you sell dearer than you buy

Net, funding: paid 7d − costs−$72as in the Funding arb table

Net, price: spread back to 7d avg − costs−$60as in the Price arb table

costs, in and out, $10k−$670.670% of the position

Long on MEXC Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.049%−$5 on $10k

Price spread, last 7 days−0.035%−$3 · spread now +0.064%, 7d avg −0.009%

Together, before fees−0.084%−$8 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 0.072% dearer against MEXC than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC CAKE_USDT	2.5184	0.0100	pay 0.0050% / 4h	2h 19m	$13.7M	$2.9M	125x
Short	Bitget CAKEUSDT	2.5200	0.0100	get 0.0050% / 4h	2h 19m	$2.6M	$2.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.064%Rate

Funding earned: $0
Price spread: +0.064% → −0.009%: $7.2
Slippage, 4 orders: −$50.98
Fee MEXC: 2 bp × 2 orders: −$4
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$59.77
Costs to cover: 0.670%
Break-even: never at this rate

Slippage from MEXC: live order book, 4 min ago; Bitget: live order book, 3 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, 4 min ago	4.16 bp	8.1 bp −$8	39.1 bp −$391	106.6 bp −$10.7K	doesn't fit
Sell Bitget live order book, 3 min ago	2.18 bp	18.5 bp −$19	40.1 bp −$401	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	+0.0014%	4h	2.5182	−0.008%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	+1.017%	$113	$52K	5.5x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5200	+0.064%	$3.1M	$2.6M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.5212	+0.113%	$2.4M	$76K	10x	as long as short
Binance CAKEUSDT	+0.0100%	4h	2.5177	−0.028%	$18.0M	$33.8M	75x	as long as short
Bybit CAKEUSDT	+0.0100%	4h	2.5151	−0.131%	$5.3M	$3.7M	50x	as long as short
Gate CAKE_USDT	+0.0100%	4h	2.5166	−0.071%	$877K	$670K	75x	as long as short
MEXC CAKE_USDTlong	+0.0100%	4h	2.5184	long leg	$13.7M	$2.9M	125x
KuCoin CAKEUSDTM	+0.0100%	4h	2.5193	+0.036%	$2.4M	$5.5M	50x	as long as short
Bitget CAKEUSDTshort	+0.0100%	4h	2.5200	+0.064%	$2.6M	$2.5M	75x

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX CAKE-USDT	+0.0100%	4h	2.5178	−0.024%	—	$3.5M	—	as long as short
Variational Omni CAKE	+0.0100%	4h	2.5190	+0.025%	$536K	$458K	—	as long as short
ApeX Omni CAKEUSDT	+0.0100%	1h	2.5244	+0.238%	$11K	$682K	50x	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0417% / S −0.0269%	1h	2.5197	+0.053%	$37K	—	100x	as long as short
Kraken Futures PF_CAKEUSD	+0.0832%	1h	2.5197	+0.052%	$54K	$37K	10x	as long as short