Funding arb · Price arb /

CAKE

all CAKE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0646%/8h= +70.7% APRpaid last 24h +0.228%

Price spread now: Kraken Futures against Bitget+0.568%48s7-day average — · you sell dearer than you buy

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

Long on Bitget Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.795%+$79 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 0.568% dearer against Bitget than usual: you sell high and buy low: +$57 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget CAKEUSDT	2.5065	0.0100	pay 0.0050% / 4h	41m 34s	$2.6M	$2.3M	75x
Short	Kraken Futures PF_CAKEUSD	2.5207	0.0746	get 0.0093% / 1h	41m 34s	$53K	$38K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Bitget. 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 BitgetbpFee Kraken FuturesbpOrdersPrice spread, now +0.568%Rate

Funding earned: $135.66
Price spread: +0.568% → 0.000%: $56.84
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $170.5
Costs to cover: 0.220%
Break-even: from the start

Slippage unknown: Bitget: live order book, 1 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 Bitget live order book, 1 min ago	3.39 bp	21.9 bp −$22	42.2 bp −$422	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	−0.0104%	1h	2.5043	−0.088%	$11K	$679K	50x	as long as short
Orderly PERP_CAKE_USDC	+0.0012%	4h	2.5054	−0.044%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	+1.496%	$113	$52K	5.5x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5080	+0.060%	$3.1M	$2.5M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.5078	+0.050%	$2.4M	$76K	10x	as long as short
Binance CAKEUSDT	+0.0100%	4h	2.5062	−0.012%	$17.9M	$31.3M	75x	as long as short
Bybit CAKEUSDT	+0.0100%	4h	2.5040	−0.100%	$5.2M	$3.6M	50x	as long as short
Gate CAKE_USDT	+0.0100%	4h	2.5044	−0.084%	$873K	$641K	75x	as long as short
MEXC CAKE_USDT	+0.0100%	4h	2.5057	−0.032%	$13.6M	$2.9M	125x	as long as short
KuCoin CAKEUSDTM	+0.0100%	4h	2.5066	+0.004%	$2.4M	$5.4M	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget CAKEUSDTlong	+0.0100%	4h	2.5065	long leg	$2.6M	$2.3M	75x
BingX CAKE-USDT	+0.0100%	4h	2.5055	−0.040%	—	$3.7M	—	as long as short
Variational Omni CAKE	+0.0100%	4h	2.5000	−0.258%	$519K	$469K	—	as long as short
BloFin CAKE-USDT	+0.0115%	4h	2.5042	−0.092%	$997K	$367K	75x	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0416% / S −0.0269%	1h	2.5076	+0.044%	$37K	—	100x	as long as short
Kraken Futures PF_CAKEUSDshort	+0.0746%	1h	2.5207	+0.568%	$53K	$38K	10x