Funding arb · Price arb /

CAKE

all CAKE markets

Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Binance against Variational Omni+0.191%7-day average +0.012% · you sell dearer than you buy

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

Long on Variational Omni Short on Binance

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.049%+$5 on $10k

Price spread, last 3 days (all we have)−0.264%−$26 · spread now +0.191%, 7d avg +0.012%

Together, before fees−0.215%+ Points / potential airdropVariational Omni: Active · farm board−$21 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 0.180% dearer against Variational Omni than usual: you sell high and buy low, +$18 on $10k if it goes back to its 7-day average of +0.012%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni CAKE	2.5554	0.0100	pay 0.0050% / 4h	2h 24m	$546K	$497K	—
Short	Binance CAKEUSDT	2.5603	0.0100	get 0.0050% / 4h	2h 24m	$18.4M	$38.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpFee BinancebpOrdersPrice spread, now +0.191%Rate

Funding earned: $0
Price spread: +0.191% → +0.012%: $17.96
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Binance: 5 bp × 2 orders: −$10
Net: $7.96
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 64 min ago; Binance: live order book, 2 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 Variational Omni RFQ quote, 64 min ago	6.63 bp	doesn't fit	73.6 bp −$736	doesn't fit	doesn't fit
Sell Binance live order book, 2 min ago	0.19 bp	11.3 bp −$11	27.8 bp −$278	126.1 bp −$12.6K	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
Orderly PERP_CAKE_USDC	+0.0010%	4h	2.5598	+0.172%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	−0.447%	$113	$52K	5.5x	as long as short
BloFin CAKE-USDT	+0.0100%	4h	2.5605	+0.199%	$997K	$357K	75x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.5604	+0.193%	$2.4M	$99K	10x	as long as short
Binance CAKEUSDTshort	+0.0100%	4h	2.5603	+0.191%	$18.4M	$38.9M	75x
Bybit CAKEUSDT	+0.0100%	4h	2.5590	+0.140%	$5.3M	$4.1M	50x	as long as short
Gate CAKE_USDT	+0.0100%	4h	2.5592	+0.148%	$891K	$859K	75x	as long as short
MEXC CAKE_USDT	+0.0100%	4h	2.5606	+0.203%	$14.3M	$2.9M	125x	as long as short
KuCoin CAKEUSDTM	+0.0100%	4h	2.5606	+0.203%	$2.5M	$5.7M	50x	as long as short
Bitget CAKEUSDT	+0.0100%	4h	2.5600	+0.180%	$2.7M	$2.8M	75x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX CAKE-USDT	+0.0100%	4h	2.5591	+0.144%	—	$3.5M	—	as long as short
Variational Omni CAKElong	+0.0100%	4h	2.5554	long leg	$546K	$497K	—
ApeX Omni CAKEUSDT	+0.0100%	1h	2.5576	+0.086%	$13K	$696K	50x	as long as short
Hyperliquid CAKE	+0.0124%	1h	2.5643	+0.347%	$3.2M	$3.3M	3x	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0421% / S −0.0272%	1h	2.5591	+0.146%	$38K	—	100x	as long as short
Kraken Futures PF_CAKEUSD	+0.0495%	1h	2.5608	+0.211%	$57K	$38K	10x	as long as short