Funding arb · Price arb /

CAKE

all CAKE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0204%/8h= −22.3% APRpaid last 24h −0.013%

Price spread now: ApeX Omni against Aster−0.267%7-day average −0.042% · you buy dearer than you sell

Net, funding: paid 7d − costs−$99as in the Funding arb table

Net, price: spread back to 7d avg − costs−$105as in the Price arb table

costs, in and out, $10k−$830.826% of the position

Long on Aster Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.167%−$17 on $10k

Price spread, last 4 days (all we have)+0.352%+$35 · spread now −0.267%, 7d avg −0.042%

Together, before fees+0.185%+ Points / potential airdropAster: Stage 5 · farm board+$18 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and ApeX Omni is 0.226% cheaper against Aster than usual: you would sell low and buy high (−$23 if the spread goes back to its 7-day average of −0.042%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster CAKEUSDT	2.5110	0.0100	pay 0.0050% / 4h	43m 15s	$2.4M	$76K	10x
Short	ApeX Omni CAKEUSDT	2.5043	−0.0104	pay 0.0013% / 1h	43m 15s	$11K	$679K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Aster. 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 AsterbpFee ApeX OmnibpOrdersPrice spread, now −0.267%Rate

Funding earned: −$42.74
Price spread: −0.267% → −0.042%: −$22.56
Slippage, 4 orders: −$64.56
Fee Aster: 4 bp × 2 orders: −$8
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$147.87
Costs to cover: 0.826%
Break-even: never at this rate

Slippage from Aster: live order book, 5 min ago; ApeX Omni: live order book, 15 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 Aster live order book, 5 min ago	3.40 bp	34.4 bp −$34	1090.0 bp −$10.9K	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 15 min ago	7.17 bp	14.6 bp −$15	104.8 bp −$1,048	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 CAKEUSDTshort	−0.0104%	1h	2.5043	−0.267%	$11K	$679K	50x
Orderly PERP_CAKE_USDC	+0.0013%	4h	2.5055	−0.220%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	+1.314%	$113	$52K	5.5x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5092	−0.072%	$3.1M	$2.5M	3x	as long as short
Aster CAKEUSDTlong	+0.0100%	4h	2.5110	long leg	$2.4M	$76K	10x
Binance CAKEUSDT	+0.0100%	4h	2.5061	−0.196%	$17.9M	$31.3M	75x	as long as short
Bybit CAKEUSDT	+0.0100%	4h	2.5040	−0.279%	$5.2M	$3.6M	50x	as long as short
Gate CAKE_USDT	+0.0100%	4h	2.5088	−0.088%	$874K	$641K	75x	as long as short
MEXC CAKE_USDT	+0.0100%	4h	2.5089	−0.084%	$13.6M	$2.9M	125x	as long as short
KuCoin CAKEUSDTM	+0.0100%	4h	2.5088	−0.088%	$2.4M	$5.4M	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget CAKEUSDT	+0.0100%	4h	2.5078	−0.128%	$2.6M	$2.3M	75x	as long as short
BingX CAKE-USDT	+0.0100%	4h	2.5075	−0.140%	—	$3.7M	—	as long as short
Variational Omni CAKE	+0.0100%	4h	2.5000	−0.437%	$519K	$469K	—	as long as short
BloFin CAKE-USDT	+0.0115%	4h	2.5042	−0.271%	$997K	$367K	75x	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0416% / S −0.0269%	1h	2.5077	−0.131%	$37K	—	100x	as long as short
Kraken Futures PF_CAKEUSD	+0.0746%	1h	2.5202	+0.366%	$53K	$38K	10x	as long as short