Funding arb · Price arb /

CAKE

all CAKE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.011%

Price spread now: MEXC against ApeX Omni+0.039%7-day average −0.039% · you sell dearer than you buy

Net, funding: paid 7d − costs−$25as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$400.405% of the position

Long on ApeX Omni Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.152%+$15 on $10k

Price spread, last 3 days (all we have)−0.111%−$11 · spread now +0.039%, 7d avg −0.039%

Together, before fees+0.041%+$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: MEXC is 0.079% dearer against ApeX Omni than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of −0.039%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni CAKEUSDT	2.5457	0.0100	pay 0.0013% / 1h	6m 53s	$13K	$701K	50x
Short	MEXC CAKE_USDT	2.5467	0.0100	get 0.0050% / 4h	1h 06m	$14.2M	$2.8M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.039%Rate

Funding earned: $0
Price spread: +0.039% → −0.039%: $7.86
Slippage, 4 orders: −$26.5
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$32.64
Costs to cover: 0.405%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 12 min ago; MEXC: live order book, 7 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, 12 min ago	6.10 bp	15.3 bp −$15	101.9 bp −$1,019	doesn't fit	doesn't fit
Sell MEXC live order book, 7 min ago	0.79 bp	5.1 bp −$5	41.3 bp −$413	104.6 bp −$10.5K	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	+0.0022%	4h	2.5459	+0.008%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	−0.067%	$113	$52K	5.5x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5498	+0.161%	$3.2M	$2.8M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.5473	+0.065%	$2.4M	$87K	10x	as long as short
Binance CAKEUSDT	+0.0100%	4h	2.5469	+0.048%	$18.3M	$37.4M	75x	as long as short
Bybit CAKEUSDT	+0.0100%	4h	2.5460	+0.012%	$5.3M	$4.0M	50x	as long as short
Gate CAKE_USDT	+0.0100%	4h	2.5450	−0.027%	$890K	$768K	75x	as long as short
MEXC CAKE_USDTshort	+0.0100%	4h	2.5467	+0.039%	$14.2M	$2.8M	125x
KuCoin CAKEUSDTM	+0.0100%	4h	2.5465	+0.031%	$2.5M	$5.7M	50x	as long as short
Bitget CAKEUSDT	+0.0100%	4h	2.5485	+0.110%	$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	2.5457	0.000%	—	$3.6M	—	as long as short
Variational Omni CAKE	+0.0100%	4h	2.5437	−0.080%	$533K	$492K	—	as long as short
ApeX Omni CAKEUSDTlong	+0.0100%	1h	2.5457	long leg	$13K	$701K	50x
BloFin CAKE-USDT	+0.0136%	4h	2.5458	+0.004%	$995K	$363K	75x	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0421% / S −0.0272%	1h	2.5470	+0.050%	$38K	—	100x	as long as short
Kraken Futures PF_CAKEUSD	+0.0776%	1h	2.5486	+0.116%	$57K	$37K	10x	as long as short