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: Bybit against BingX+0.024%7-day average −0.008% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$92as in the Price arb table

costs, in and out, $10k−$950.950% of the position

Long on BingX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.040%−$4 on $10k

Price spread, last 7 days−0.036%−$4 · spread now +0.024%, 7d avg −0.008%

Together, before fees−0.076%−$8 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: Bybit is 0.031% dearer against BingX than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.008%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX CAKE-USDT	2.5504	0.0100	pay 0.0050% / 4h	2h 30m	—	$3.5M	—
Short	Bybit CAKEUSDT	2.5510	0.0100	get 0.0050% / 4h	2h 30m	$5.3M	$4.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.024%Rate

Funding earned: $0
Price spread: +0.024% → −0.008%: $3.11
Slippage, 4 orders: −$74.03
Fee BingX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$91.92
Costs to cover: 0.950%
Break-even: never at this rate

Slippage from BingX: live order book, 9 min ago; Bybit: live order book, 2 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, 9 min ago	3.34 bp	9.1 bp −$9	11.5 bp −$115	24.9 bp −$2,491	49.6 bp −$24.8K
Sell Bybit live order book, 2 min ago	1.96 bp	34.2 bp −$34	54.4 bp −$544	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
Orderly PERP_CAKE_USDC	+0.0009%	4h	2.5511	+0.027%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	−0.251%	$113	$52K	5.5x	as long as short
BloFin CAKE-USDT	+0.0092%	4h	2.5517	+0.051%	$996K	$354K	75x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5554	+0.196%	$3.1M	$3.3M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.5514	+0.039%	$2.4M	$99K	10x	as long as short
Binance CAKEUSDT	+0.0100%	4h	2.5516	+0.048%	$18.3M	$38.9M	75x	as long as short
Bybit CAKEUSDTshort	+0.0100%	4h	2.5510	+0.024%	$5.3M	$4.1M	50x
Gate CAKE_USDT	+0.0100%	4h	2.5492	−0.047%	$888K	$858K	75x	as long as short
MEXC CAKE_USDT	+0.0100%	4h	2.5523	+0.074%	$14.3M	$2.9M	125x	as long as short
KuCoin CAKEUSDTM	+0.0100%	4h	2.5514	+0.039%	$2.5M	$5.7M	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	2.5530	+0.102%	$2.7M	$2.8M	75x	as long as short
BingX CAKE-USDTlong	+0.0100%	4h	2.5504	long leg	—	$3.5M	—
Variational Omni CAKE	+0.0100%	4h	2.5459	−0.176%	$544K	$497K	—	as long as short
ApeX Omni CAKEUSDT	+0.0100%	1h	2.5482	−0.086%	$13K	$696K	50x	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0421% / S −0.0272%	1h	2.5520	+0.061%	$38K	—	100x	as long as short
Kraken Futures PF_CAKEUSD	+0.0495%	1h	2.5595	+0.358%	$57K	$38K	10x	as long as short