Funding arb · Price arb /

CAKE

all CAKE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0649%/8h= +71.1% APRpaid last 24h +0.228%

Price spread now: Kraken Futures against Binance+0.191%7-day average — · you sell dearer than you buy

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

Long on Binance Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.745%+$74 on $10k

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

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$19 a day on $10k at the current rate, and Kraken Futures is 0.191% dearer against Binance than usual: you sell high and buy low: +$19 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance CAKEUSDT	2.5044	0.0100	pay 0.0050% / 4h	20m 12s	$17.9M	$31.2M	75x
Short	Kraken Futures PF_CAKEUSD	2.5092	0.0749	get 0.0094% / 1h	20m 12s	$53K	$38K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Binance. 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 BinancebpFee Kraken FuturesbpOrdersPrice spread, now +0.191%Rate

Funding earned: $136.38
Price spread: +0.191% → 0.000%: $19.09
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $135.47
Costs to cover: 0.200%
Break-even: 0.0 days

Slippage unknown: Binance: live order book, 6 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 Binance live order book, 6 min ago	0.80 bp	12.8 bp −$13	32.4 bp −$324	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 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 CAKEUSDT	−0.0013%	1h	2.5069	+0.100%	$11K	$677K	50x	as long as short
Orderly PERP_CAKE_USDC	+0.0022%	4h	2.5054	+0.040%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	+1.581%	$113	$52K	5.5x	as long as short
BloFin CAKE-USDT	+0.0045%	4h	2.5044	0.000%	$995K	$357K	75x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5077	+0.131%	$3.1M	$2.5M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.5072	+0.112%	$2.4M	$79K	10x	as long as short
Binance CAKEUSDTlong	+0.0100%	4h	2.5044	long leg	$17.9M	$31.2M	75x
Bybit CAKEUSDT	+0.0100%	4h	2.5030	−0.056%	$5.2M	$3.6M	50x	as long as short
Gate CAKE_USDT	+0.0100%	4h	2.5036	−0.032%	$872K	$642K	75x	as long as short
MEXC CAKE_USDT	+0.0100%	4h	2.5042	−0.008%	$13.3M	$2.9M	125x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin CAKEUSDTM	+0.0100%	4h	2.5045	+0.004%	$2.4M	$5.4M	50x	as long as short
Bitget CAKEUSDT	+0.0100%	4h	2.5066	+0.088%	$2.6M	$2.3M	75x	as long as short
BingX CAKE-USDT	+0.0100%	4h	2.5041	−0.012%	—	$3.8M	—	as long as short
Variational Omni CAKE	+0.0100%	4h	2.5005	−0.155%	$519K	$469K	—	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0416% / S −0.0269%	1h	2.5067	+0.091%	$37K	—	100x	as long as short
Kraken Futures PF_CAKEUSDshort	+0.0749%	1h	2.5092	+0.191%	$53K	$38K	10x