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 Variational Omni+0.017%7-day average +0.040% · you sell dearer than you buy

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

Long on Variational Omni Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.060%+$6 on $10k

Price spread, last 4 days (all we have)−0.105%−$10 · spread now +0.017%, 7d avg +0.040%

Together, before fees−0.045%+ Points / potential airdropVariational Omni: Active · farm board−$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: Bitget is 0.023% cheaper against Variational Omni than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.040%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni CAKE	2.5016	0.0100	pay 0.0050% / 4h	49m 31s	$519K	$469K	—
Short	Bitget CAKEUSDT	2.5020	0.0100	get 0.0050% / 4h	49m 31s	$2.6M	$2.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.017%Rate

Funding earned: $0
Price spread: +0.017% → +0.040%: −$2.26
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$14.26
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 10 min ago; Bitget: live order book, 3 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, 10 min ago	6.71 bp	doesn't fit	75.3 bp −$753	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	2.59 bp	20.6 bp −$21	38.8 bp −$388	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
ApeX Omni CAKEUSDT	−0.0043%	1h	2.5043	+0.109%	$11K	$678K	50x	as long as short
Orderly PERP_CAKE_USDC	+0.0014%	4h	2.5030	+0.057%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	+1.696%	$113	$52K	5.5x	as long as short
BloFin CAKE-USDT	+0.0067%	4h	2.5029	+0.053%	$1.0M	$366K	75x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5040	+0.097%	$3.1M	$2.5M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.5045	+0.119%	$2.4M	$72K	10x	as long as short
Binance CAKEUSDT	+0.0100%	4h	2.5005	−0.042%	$17.9M	$31.3M	75x	as long as short
Bybit CAKEUSDT	+0.0100%	4h	2.4991	−0.098%	$5.2M	$3.6M	50x	as long as short
Gate CAKE_USDT	+0.0100%	4h	2.5026	+0.041%	$872K	$641K	75x	as long as short
MEXC CAKE_USDT	+0.0100%	4h	2.5005	−0.042%	$13.6M	$2.9M	125x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin CAKEUSDTM	+0.0100%	4h	2.5021	+0.021%	$2.4M	$5.5M	50x	as long as short
Bitget CAKEUSDTshort	+0.0100%	4h	2.5020	+0.017%	$2.6M	$2.3M	75x
BingX CAKE-USDT	+0.0100%	4h	2.5011	−0.018%	—	$3.7M	—	as long as short
Variational Omni CAKElong	+0.0100%	4h	2.5016	long leg	$519K	$469K	—
GMX CAKE/USD [WBTC.b-USDC]	L +0.0416% / S −0.0269%	1h	2.5045	+0.119%	$37K	—	100x	as long as short
Kraken Futures PF_CAKEUSD	+0.0751%	1h	2.5047	+0.126%	$53K	$38K	10x	as long as short