Funding arb · Price arb /

CAKE

all CAKE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0323%/8h= +35.4% APRpaid last 24h +0.214%

Price spread now: Kraken Futures against BloFin+0.546%57s7-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 Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.622%+$62 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 +$10 a day on $10k at the current rate, and Kraken Futures is 0.546% dearer against BloFin than usual: you sell high and buy low: +$55 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 57 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	BloFin CAKE-USDT	2.5022	0.0054	pay 0.0027% / 4h	1h 54m	$986K	$317K	75x
Short	Kraken Futures PF_CAKEUSD	2.5159	0.0377	get 0.0047% / 1h	54m 01s	$53K	$34K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.546%Rate

Funding earned: $67.88
Price spread: +0.546% → 0.000%: $54.63
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $100.51
Costs to cover: 0.220%
Break-even: from the start

Slippage unknown: BloFin: live order book, 33 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 BloFin live order book, 33 min ago	0.20 bp	9.8 bp −$10	19.5 bp −$195	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
Bybit CAKEUSDT	−0.0664%	4h	2.5020	−0.008%	$5.2M	$3.5M	50x	as long as short
Variational Omni CAKE	−0.0290%	4h	2.5011	−0.045%	$514K	$434K	—	as long as short
KuCoin CAKEUSDTM	−0.0134%	4h	2.5040	+0.072%	$2.4M	$5.2M	50x	as long as short
ApeX Omni CAKEUSDT	−0.0121%	1h	2.5048	+0.104%	$11K	$675K	50x	as long as short
Orderly PERP_CAKE_USDC	−0.0085%	4h	2.5029	+0.028%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	+1.671%	$113	$52K	5.5x	as long as short
BloFin CAKE-USDTlong	+0.0054%	4h	2.5022	long leg	$986K	$317K	75x
Binance CAKEUSDT	+0.0081%	4h	2.5031	+0.036%	$17.6M	$29.8M	75x	as long as short
MEXC CAKE_USDT	+0.0082%	4h	2.5027	+0.020%	$13.4M	$2.7M	125x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5054	+0.128%	$3.1M	$1.9M	3x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster CAKEUSDT	+0.0100%	4h	2.5054	+0.128%	$2.4M	$77K	10x	as long as short
Gate CAKE_USDT	+0.0100%	4h	2.5011	−0.044%	$866K	$587K	75x	as long as short
Bitget CAKEUSDT	+0.0100%	4h	2.5048	+0.104%	$2.5M	$2.2M	75x	as long as short
BingX CAKE-USDT	+0.0100%	4h	2.5033	+0.044%	—	$3.8M	—	as long as short
Kraken Futures PF_CAKEUSDshort	+0.0377%	1h	2.5159	+0.546%	$53K	$34K	10x
GMX CAKE/USD [WBTC.b-USDC]	L +0.0416% / S −0.0269%	1h	2.5048	+0.104%	$37K	—	100x	as long as short