CAKE

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.1017%/8h= −111.4% APRnext payment −$5.09 per $10,000 · paid last 24h −0.025%

Price spread now: Bybit against MEXC−0.012%7-day average −0.023% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$510.512% of the position

Long on MEXC Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.205%−$20 on $10k

Price spread, last 7 days+0.003%$0 · spread now −0.012%, 7d avg −0.023%

Together, before fees−0.202%−$20 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.023%, so right now this pair is about funding alone: −$31 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.205% in total (about -10.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$5.09 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC CAKE_USDT	2.5196	0.0046	pay 0.0023% / 4h	2h 57m	$15.6M	$2.7M	125x
Short	Bybit CAKEUSDT	2.5193	−0.0971	pay 0.0486% / 4h	2h 57m	$5.4M	$3.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.012%Rate

Funding earned: −$213.65
Price spread: −0.012% → −0.023%: $1.14
Slippage, 4 orders: −$36.21
Fee MEXC: 2 bp × 2 orders: −$4
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$263.72
Costs to cover: 0.512%
Break-even: never at this rate

Slippage from MEXC: live order book, 1 min ago; Bybit: 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 MEXC live order book, 1 min ago	1.59 bp	6.0 bp −$6	30.6 bp −$306	78.9 bp −$7,893	doesn't fit
Sell Bybit live order book, 5 min ago	1.98 bp	20.5 bp −$21	51.2 bp −$512	doesn't fit	doesn't fit

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 CAKEUSDTshort	−0.0971%	4h	2.5193	−0.012%	$5.4M	$3.1M	50x
Variational Omni CAKE	−0.0648%	4h	2.5210	+0.057%	$521K	$408K	—	as long as short
Kraken Futures PF_CAKEUSD	−0.0531%	1h	2.5293	+0.384%	$53K	$45K	10x	as long as short
ApeX Omni CAKEUSDT	−0.0237%	1h	2.5226	+0.119%	$11K	$672K	50x	as long as short
Orderly PERP_CAKE_USDC	−0.0148%	4h	2.5210	+0.056%	$7K	$13K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	+0.968%	$113	$52K	5.5x	as long as short
Binance CAKEUSDT	+0.0044%	4h	2.5201	+0.020%	$17.6M	$26.8M	75x	as long as short
Aster CAKEUSDT	+0.0044%	4h	2.5229	+0.132%	$2.4M	$160K	10x	as long as short
MEXC CAKE_USDTlong	+0.0046%	4h	2.5196	long leg	$15.6M	$2.7M	125x
BloFin CAKE-USDT	+0.0049%	4h	2.5210	+0.056%	$989K	$316K	75x	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	2.5223	+0.107%	$3.2M	$1.9M	3x	as long as short
Gate CAKE_USDT	+0.0100%	4h	2.5193	−0.012%	$899K	$508K	75x	as long as short
KuCoin CAKEUSDTM	+0.0100%	4h	2.5209	+0.052%	$2.5M	$5.1M	50x	as long as short
Bitget CAKEUSDT	+0.0100%	4h	2.5201	+0.020%	$2.6M	$2.0M	75x	as long as short
BingX CAKE-USDT	+0.0100%	4h	2.5185	−0.044%	—	$3.9M	—	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0381% / S −0.0214%	1h	2.5247	+0.200%	$37K	—	100x	as long as short