Funding arb · Price arb /

CAKE

all CAKE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0253%/8h= +27.7% APRpaid last 24h +0.223%

Price spread now: Kraken Futures against BingX−0.067%7-day average — · you buy dearer than you sell

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

Long on BingX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.892%+$89 on $10k

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

Together, before fees—needs both histories

Funding pays, the price is against you. Kraken Futures is 0.067% cheaper against BingX than usual: you would sell low and buy high (spread −0.067% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 21 hours of funding at the current rate (+$8 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX CAKE-USDT	2.4981	0.0100	pay 0.0050% / 4h	3h 27m	—	$3.8M	—
Short	Kraken Futures PF_CAKEUSD	2.4964	0.0353	get 0.0044% / 1h	27m 10s	$52K	$38K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.067%Rate

Funding earned: $53.18
Price spread: −0.067% → 0.000%: −$6.71
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $26.48
Costs to cover: 0.200%
Break-even: 3.5 days

Slippage unknown: BingX: live order book, 8 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 BingX live order book, 8 min ago	3.20 bp	9.8 bp −$10	12.7 bp −$127	24.3 bp −$2,426	49.4 bp −$24.7K
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
Bybit CAKEUSDT	−0.0480%	4h	2.4951	−0.120%	$5.2M	$3.5M	50x	as long as short
ApeX Omni CAKEUSDT	−0.0141%	1h	2.5041	+0.240%	$11K	$680K	50x	as long as short
Orderly PERP_CAKE_USDC	+0.0004%	4h	2.4964	−0.068%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	+1.837%	$113	$52K	5.5x	as long as short
BloFin CAKE-USDT	+0.0056%	4h	2.4972	−0.036%	$992K	$356K	75x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.4996	+0.060%	$3.1M	$2.5M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.4990	+0.036%	$2.3M	$78K	10x	as long as short
Binance CAKEUSDT	+0.0100%	4h	2.4960	−0.082%	$17.8M	$31.3M	75x	as long as short
Gate CAKE_USDT	+0.0100%	4h	2.4967	−0.056%	$869K	$636K	75x	as long as short
MEXC CAKE_USDT	+0.0100%	4h	2.4960	−0.084%	$13.3M	$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	2.4961	−0.080%	$2.4M	$5.5M	50x	as long as short
Bitget CAKEUSDT	+0.0100%	4h	2.4995	+0.056%	$2.5M	$2.4M	75x	as long as short
BingX CAKE-USDTlong	+0.0100%	4h	2.4981	long leg	—	$3.8M	—
Variational Omni CAKE	+0.0100%	4h	2.5031	+0.199%	$513K	$475K	—	as long as short
Kraken Futures PF_CAKEUSDshort	+0.0353%	1h	2.4964	−0.067%	$52K	$38K	10x
GMX CAKE/USD [WBTC.b-USDC]	L +0.0415% / S −0.0269%	1h	2.4978	−0.014%	$37K	—	100x	as long as short