Funding you earn now, next payment 09:00 UTC−0.0260%/8h= −28.4% APRpaid last 24h −0.020%
Price spread now: ApeX Omni against Binance−0.124%109s7-day average +0.034% · you buy dearer than you sell
Net, funding: paid 7d − costs−$66as 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−$500.498% of the position
Funding, last 7 days−0.163%−$16 on $10k
+Price spread, last 4 days (all we have)+0.394%+$39 · spread now −0.124%, 7d avg +0.034%
=Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and ApeX Omni is 0.158% cheaper against Binance than usual: you would sell low and buy high (−$16 if the spread goes back to its 7-day average of +0.034%). Swap the legs. The two prices were read 109 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.163% in total (about -8.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance CAKEUSDT | 2.4934 | 0.0046 | pay 0.0023% / 4h | 3h 37m | $17.5M | $27.3M | 75x |
| Short | ApeX Omni CAKEUSDT | 2.4903 | −0.0214 | pay 0.0027% / 1h | 37m 38s | $10K | $670K | 50x |
Binance CAKEUSDT
ApeX Omni CAKEUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
ApeX Omni against Binance. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$54.51
- Price spread: −0.124% → +0.034%
- −$15.84
- Slippage, 4 orders
- −$29.83
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee ApeX Omni: 5 bp × 2 orders
- −$10
- Net
- −$120.17
- Costs to cover
- 0.498%
- Break-even
- never at this rate
Slippage from Binance: live order book, 4 min ago; ApeX Omni: live order book, 61 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 Binance live order book, 4 min ago | 0.20 bp | 10.3 bp −$10 | 25.5 bp −$255 | doesn't fit | doesn't fit |
| Sell ApeX Omni live order book, 61 min ago | 5.01 bp | 14.9 bp −$15 | 112.0 bp −$1,120 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Bybit CAKEUSDT | −0.1664% | 4h | 2.4910 | −0.096% | $5.3M | $3.2M | 50x | as long as short |
| Variational Omni CAKE | −0.0476% | 4h | 2.4891 | −0.173% | $514K | $421K | — | as long as short |
| Kraken Futures PF_CAKEUSD | −0.0282% | 1h | 2.4943 | +0.034% | $55K | $45K | 10x | as long as short |
| ApeX Omni CAKEUSDTshort | −0.0214% | 1h | 2.4903 | −0.124% | $10K | $670K | 50x | |
| Orderly PERP_CAKE_USDC | −0.0138% | 4h | 2.4935 | +0.004% | $7K | $14K | 10x | as long as short |
| Injective CAKE/USDC PERP | +0.0033% | 1h | 2.5440 | +2.029% | $113 | $52K | 5.5x | as long as short |
| Binance CAKEUSDTlong | +0.0046% | 4h | 2.4934 | long leg | $17.5M | $27.3M | 75x | |
| MEXC CAKE_USDT | +0.0046% | 4h | 2.4935 | +0.004% | $15.2M | $2.9M | 125x | as long as short |
| KuCoin CAKEUSDTM | +0.0084% | 4h | 2.4930 | −0.016% | $2.4M | $5.1M | 50x | as long as short |
| BloFin CAKE-USDT | +0.0089% | 4h | 2.4910 | −0.096% | $987K | $314K | 75x | as long as short |
Bybit CAKEUSDT
Variational Omni CAKE
Kraken Futures PF_CAKEUSD
Orderly PERP_CAKE_USDC
Injective CAKE/USDC PERP
MEXC CAKE_USDT
KuCoin CAKEUSDTM
BloFin CAKE-USDTShow all 16 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid CAKE | +0.0100% | 1h | 2.4962 | +0.112% | $3.1M | $1.8M | 3x | as long as short |
| Aster CAKEUSDT | +0.0100% | 4h | 2.4947 | +0.052% | $2.3M | $107K | 10x | as long as short |
| Gate CAKE_USDT | +0.0100% | 4h | 2.4908 | −0.104% | $889K | $590K | 75x | as long as short |
| Bitget CAKEUSDT | +0.0100% | 4h | 2.4932 | −0.008% | $2.6M | $2.0M | 75x | as long as short |
| BingX CAKE-USDT | +0.0100% | 4h | 2.4918 | −0.064% | — | $3.8M | — | as long as short |
| GMX CAKE/USD [WBTC.b-USDC] | L +0.0380% / S −0.0214% | 1h | 2.4967 | +0.131% | $37K | — | 100x | as long as short |
Hyperliquid CAKE
Aster CAKEUSDT
Gate CAKE_USDT
Bitget CAKEUSDT
BingX CAKE-USDT
GMX CAKE/USD [WBTC.b-USDC]