Funding arb · Price arb /

CAKE

all CAKE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0732%/8h= +80.1% APRpaid last 24h +0.247%

Price spread now: Kraken Futures against Aster−0.065%7-day average — · you buy dearer than you sell

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

Long on Aster Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.684%+$68 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Funding pays, the price is against you. Kraken Futures is 0.065% cheaper against Aster than usual: you would sell low and buy high (spread −0.065% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 7 hours of funding at the current rate (+$22 a day). At the pace of the last 7 days (+0.684% in total) that is about 16 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster CAKEUSDT	2.5213	0.0100	pay 0.0050% / 4h	2h 20m	$2.4M	$76K	10x
Short	Kraken Futures PF_CAKEUSD	2.5197	0.0832	get 0.0104% / 1h	20m 11s	$54K	$37K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.065%Rate

Funding earned: $153.63
Price spread: −0.065% → 0.000%: −$6.5
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $129.12
Costs to cover: 0.180%
Break-even: 1.1 days

Slippage unknown: Aster: live order book, 3 min ago; Kraken Futures: no order-book sample. 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 Aster live order book, 3 min ago	4.16 bp	35.2 bp −$35	1337.7 bp −$13.4K	doesn't fit	doesn't fit
Sell Kraken Futures no order-book sample	—	—	—	—	—

Kraken Futures: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	+0.0014%	4h	2.5182	−0.125%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	+0.898%	$113	$52K	5.5x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5191	−0.089%	$3.1M	$2.6M	3x	as long as short
Aster CAKEUSDTlong	+0.0100%	4h	2.5213	long leg	$2.4M	$76K	10x
Binance CAKEUSDT	+0.0100%	4h	2.5182	−0.127%	$18.0M	$33.8M	75x	as long as short
Bybit CAKEUSDT	+0.0100%	4h	2.5150	−0.252%	$5.3M	$3.7M	50x	as long as short
Gate CAKE_USDT	+0.0100%	4h	2.5171	−0.168%	$877K	$670K	75x	as long as short
MEXC CAKE_USDT	+0.0100%	4h	2.5174	−0.157%	$13.7M	$2.9M	125x	as long as short
KuCoin CAKEUSDTM	+0.0100%	4h	2.5187	−0.105%	$2.4M	$5.5M	50x	as long as short
Bitget CAKEUSDT	+0.0100%	4h	2.5194	−0.077%	$2.6M	$2.5M	75x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX CAKE-USDT	+0.0100%	4h	2.5175	−0.153%	—	$3.5M	—	as long as short
Variational Omni CAKE	+0.0100%	4h	2.5190	−0.092%	$536K	$458K	—	as long as short
ApeX Omni CAKEUSDT	+0.0100%	1h	2.5244	+0.121%	$11K	$682K	50x	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0417% / S −0.0269%	1h	2.5197	−0.064%	$37K	—	100x	as long as short
Kraken Futures PF_CAKEUSDshort	+0.0832%	1h	2.5197	−0.065%	$54K	$37K	10x