Funding arb · Price arb /

CAKE

all CAKE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Aster against BingX+0.118%7-day average +0.081% · you sell dearer than you buy

Net, funding: paid 7d − costs−$54as in the Funding arb table

Net, price: spread back to 7d avg − costs−$68as in the Price arb table

costs, in and out, $10k−$710.714% of the position

Long on BingX Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.171%+$17 on $10k

Price spread, last 7 days−0.021%−$2 · spread now +0.118%, 7d avg +0.081%

Together, before fees+0.149%+ Points / potential airdropAster: Stage 5 · farm board+$15 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: Aster is 0.037% dearer against BingX than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.081%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX CAKE-USDT	2.5488	0.0100	pay 0.0050% / 4h	3m 23s	—	$3.6M	—
Short	Aster CAKEUSDT	2.5518	0.0100	get 0.0050% / 4h	3m 23s	$2.4M	$78K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against BingX. 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 BingXbpFee AsterbpOrdersPrice spread, now +0.118%Rate

Funding earned: $0
Price spread: +0.118% → +0.081%: $3.72
Slippage, 4 orders: −$53.36
Fee BingX: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$67.64
Costs to cover: 0.714%
Break-even: never at this rate

Slippage from BingX: live order book, 6 min ago; Aster: live order book, 5 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 BingX live order book, 6 min ago	3.53 bp	8.5 bp −$9	10.1 bp −$101	26.6 bp −$2,660	50.1 bp −$25.0K
Sell Aster live order book, 5 min ago	4.51 bp	18.6 bp −$19	1124.5 bp −$11.2K	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 CAKEUSDT	−0.0100%	1h	2.5494	+0.024%	$13K	$697K	50x	as long as short
Orderly PERP_CAKE_USDC	+0.0021%	4h	2.5489	+0.004%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	−0.188%	$113	$52K	5.5x	as long as short
BloFin CAKE-USDT	+0.0080%	4h	2.5474	−0.055%	$1.0M	$363K	75x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5532	+0.173%	$3.2M	$2.7M	3x	as long as short
Aster CAKEUSDTshort	+0.0100%	4h	2.5518	+0.118%	$2.4M	$78K	10x
Binance CAKEUSDT	+0.0100%	4h	2.5494	+0.023%	$18.3M	$36.0M	75x	as long as short
Bybit CAKEUSDT	+0.0100%	4h	2.5480	−0.031%	$5.3M	$3.9M	50x	as long as short
Gate CAKE_USDT	+0.0100%	4h	2.5484	−0.016%	$890K	$756K	75x	as long as short
MEXC CAKE_USDT	+0.0100%	4h	2.5500	+0.047%	$14.2M	$2.8M	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	2.5494	+0.024%	$2.5M	$5.6M	50x	as long as short
Bitget CAKEUSDT	+0.0100%	4h	2.5505	+0.067%	$2.7M	$2.6M	75x	as long as short
BingX CAKE-USDTlong	+0.0100%	4h	2.5488	long leg	—	$3.6M	—
Variational Omni CAKE	+0.0100%	4h	2.5462	−0.104%	$534K	$469K	—	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0421% / S −0.0272%	1h	2.5497	+0.036%	$38K	—	100x	as long as short
Kraken Futures PF_CAKEUSD	+0.0751%	1h	2.5586	+0.385%	$55K	$39K	10x	as long as short