Funding arb · Price arb /

CAKE

all CAKE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0013%/8h= +1.4% APRpaid last 24h +0.013%

Price spread now: Aster against ApeX Omni+0.217%79s7-day average +0.040% · you sell dearer than you buy

Net, funding: paid 7d − costs−$62as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$790.788% of the position

Long on ApeX Omni Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.170%+$17 on $10k

Price spread, last 4 days (all we have)−0.620%−$62 · spread now +0.217%, 7d avg +0.040%

Together, before fees−0.450%+ Points / potential airdropAster: Stage 5 · farm board−$45 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and Aster is 0.177% dearer against ApeX Omni than usual: you sell high and buy low: +$18 more if the spread goes back to its 7-day average of +0.040%. The two prices were read 79 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni CAKEUSDT	2.5197	0.0087	pay 0.0011% / 1h	24m 15s	$11K	$682K	50x
Short	Aster CAKEUSDT	2.5252	0.0100	get 0.0050% / 4h	2h 24m	$2.4M	$75K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against ApeX Omni. 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 ApeX OmnibpFee AsterbpOrdersPrice spread, now +0.217%Rate

Funding earned: $2.72
Price spread: +0.217% → +0.040%: $17.69
Slippage, 4 orders: −$60.82
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$58.41
Costs to cover: 0.788%
Break-even: 157.2 days

Slippage from ApeX Omni: live order book, 44 min ago; Aster: live order book, 4 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 ApeX Omni live order book, 44 min ago	5.90 bp	13.5 bp −$13	102.4 bp −$1,024	doesn't fit	doesn't fit
Sell Aster live order book, 4 min ago	4.16 bp	21.3 bp −$21	1383.0 bp −$13.8K	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	+0.0015%	4h	2.5242	+0.179%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	+0.964%	$113	$52K	5.5x	as long as short
ApeX Omni CAKEUSDTlong	+0.0087%	1h	2.5197	long leg	$11K	$682K	50x
Hyperliquid CAKE	+0.0100%	1h	2.5266	+0.274%	$3.2M	$2.6M	3x	as long as short
Aster CAKEUSDTshort	+0.0100%	4h	2.5252	+0.217%	$2.4M	$75K	10x
Binance CAKEUSDT	+0.0100%	4h	2.5246	+0.194%	$18.0M	$33.8M	75x	as long as short
Bybit CAKEUSDT	+0.0100%	4h	2.5230	+0.131%	$5.3M	$3.7M	50x	as long as short
Gate CAKE_USDT	+0.0100%	4h	2.5234	+0.147%	$879K	$670K	75x	as long as short
MEXC CAKE_USDT	+0.0100%	4h	2.5248	+0.202%	$13.8M	$2.9M	125x	as long as short
KuCoin CAKEUSDTM	+0.0100%	4h	2.5242	+0.179%	$2.4M	$5.5M	50x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget CAKEUSDT	+0.0100%	4h	2.5264	+0.266%	$2.6M	$2.5M	75x	as long as short
BingX CAKE-USDT	+0.0100%	4h	2.5248	+0.202%	—	$3.5M	—	as long as short
Variational Omni CAKE	+0.0100%	4h	2.5226	+0.114%	$536K	$458K	—	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0417% / S −0.0269%	1h	2.5252	+0.220%	$37K	—	100x	as long as short
Kraken Futures PF_CAKEUSD	+0.0829%	1h	2.5275	+0.308%	$54K	$37K	10x	as long as short