Funding arb · Price arb /

CAKE

all CAKE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0115%/8h= +12.6% APRpaid last 24h +0.056%

Price spread now: GMX against BloFin+0.154%7-day average — · you sell dearer than you buy

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

Long on BloFin Short on GMX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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 +$3 a day on $10k at the current rate, and GMX is 0.154% dearer against BloFin than usual: you sell high and buy low: +$15 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	BloFin CAKE-USDT	2.4948	0.0099	pay 0.0050% / 4h	3h 26m	$991K	$314K	75x
Short	GMX CAKE/USD [WBTC.b-USDC]	2.4986	L +0.0381% / S −0.0214%	get 0.0027% / 1h	26m 40s	$37K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against BloFin. 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 BloFinbpFee GMXbpOrdersPrice spread, now +0.154%Rate

Funding earned: $24.16
Price spread: +0.154% → 0.000%: $15.38
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: $15.54
Costs to cover: 0.240%
Break-even: 2.5 days

Slippage unknown: BloFin: live order book, 50 min ago; GMX: 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 BloFin live order book, 50 min ago	1.21 bp	20.1 bp −$20	31.0 bp −$310	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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	−0.1692%	4h	2.4950	+0.008%	$5.4M	$3.1M	50x	as long as short
Variational Omni CAKE	−0.0565%	4h	2.4896	−0.209%	$514K	$418K	—	as long as short
Kraken Futures PF_CAKEUSD	−0.0282%	1h	2.4976	+0.113%	$55K	$43K	10x	as long as short
ApeX Omni CAKEUSDT	−0.0268%	1h	2.4914	−0.136%	$11K	$669K	50x	as long as short
Orderly PERP_CAKE_USDC	−0.0143%	4h	2.4959	+0.044%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	+1.972%	$113	$52K	5.5x	as long as short
MEXC CAKE_USDT	+0.0050%	4h	2.4957	+0.036%	$15.2M	$2.9M	125x	as long as short
Binance CAKEUSDT	+0.0050%	4h	2.4959	+0.046%	$17.5M	$27.0M	75x	as long as short
KuCoin CAKEUSDTM	+0.0056%	4h	2.4966	+0.072%	$2.4M	$5.1M	50x	as long as short
BloFin CAKE-USDTlong	+0.0099%	4h	2.4948	long leg	$991K	$314K	75x

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid CAKE	+0.0100%	1h	2.4977	+0.116%	$3.1M	$1.8M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.4970	+0.088%	$2.3M	$108K	10x	as long as short
Gate CAKE_USDT	+0.0100%	4h	2.4964	+0.064%	$890K	$592K	75x	as long as short
Bitget CAKEUSDT	+0.0100%	4h	2.4955	+0.028%	$2.6M	$2.0M	75x	as long as short
BingX CAKE-USDT	+0.0100%	4h	2.4948	0.000%	—	$3.8M	—	as long as short
GMX CAKE/USD [WBTC.b-USDC]short	L +0.0381% / S −0.0214%	1h	2.4986	+0.154%	$37K	—	100x