Funding you earn now, next payment 08:00 UTC−0.0934%/8h= −102.2% APRnext payment −$4.67 per $10,000 · paid last 24h 0.000%
Price spread now: Bybit against Gate−0.132%7-day average −0.016% · you buy dearer than you sell
Net, funding: paid 7d − costs−$139as in the Funding arb table
Net, price: spread back to 7d avg − costs−$135as in the Price arb table
costs, in and out, $10k−$1231.229% of the position
Funding, last 7 days−0.158%−$16 on $10k
+Price spread, last 4 days (all we have)+0.136%+$14 · spread now −0.132%, 7d avg −0.016%
=Both sides work against this trade now: funding costs −$28 a day on $10k at the current rate, and Bybit is 0.116% cheaper against Gate than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of −0.016%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.158% in total (about -8.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$4.67 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Gate CAKE_USDT | 2.4913 | 0.0100 | pay 0.0050% / 4h | 2h 23m | $864K | $609K | 75x |
| Short | Bybit CAKEUSDT | 2.4880 | −0.0834 | pay 0.0417% / 4h | 2h 23m | $5.1M | $3.5M | 50x |
Gate CAKE_USDT
Bybit CAKEUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Gate. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$196.06
- Price spread: −0.132% → −0.016%
- −$11.65
- Slippage, 4 orders
- −$96.93
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$330.64
- Costs to cover
- 1.229%
- Break-even
- never at this rate
Slippage from Gate: live order book, 23 min ago; Bybit: live order book, 5 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 Gate live order book, 23 min ago | 3.20 bp | 38.5 bp −$39 | 140.7 bp −$1,407 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 5 min ago | 4.02 bp | 25.9 bp −$26 | 53.8 bp −$538 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Bybit CAKEUSDTshort | −0.0834% | 4h | 2.4880 | −0.132% | $5.1M | $3.5M | 50x | |
| ApeX Omni CAKEUSDT | −0.0336% | 1h | 2.4913 | 0.000% | $11K | $677K | 50x | as long as short |
| Variational Omni CAKE | −0.0196% | 4h | 2.4911 | −0.008% | $510K | $433K | — | as long as short |
| KuCoin CAKEUSDTM | −0.0064% | 4h | 2.4904 | −0.036% | $2.4M | $5.3M | 50x | as long as short |
| Orderly PERP_CAKE_USDC | −0.0060% | 4h | 2.4897 | −0.064% | $7K | $14K | 10x | as long as short |
| Injective CAKE/USDC PERP | +0.0033% | 1h | 2.5440 | +2.115% | $113 | $52K | 5.5x | as long as short |
| Hyperliquid CAKE | +0.0100% | 1h | 2.4916 | +0.012% | $3.1M | $2.0M | 3x | as long as short |
| Aster CAKEUSDT | +0.0100% | 4h | 2.4924 | +0.044% | $2.3M | $77K | 10x | as long as short |
| Binance CAKEUSDT | +0.0100% | 4h | 2.4891 | −0.088% | $17.5M | $30.4M | 75x | as long as short |
| Gate CAKE_USDTlong | +0.0100% | 4h | 2.4913 | long leg | $864K | $609K | 75x |
ApeX Omni CAKEUSDT
Variational Omni CAKE
KuCoin CAKEUSDTM
Orderly PERP_CAKE_USDC
Injective CAKE/USDC PERP
Hyperliquid CAKE
Aster CAKEUSDT
Binance CAKEUSDTShow all 16 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC CAKE_USDT | +0.0100% | 4h | 2.4895 | −0.072% | $13.2M | $2.8M | 125x | as long as short |
| Bitget CAKEUSDT | +0.0100% | 4h | 2.4938 | +0.100% | $2.5M | $2.3M | 75x | as long as short |
| BingX CAKE-USDT | +0.0100% | 4h | 2.4905 | −0.032% | — | $3.8M | — | as long as short |
| BloFin CAKE-USDT | +0.0129% | 4h | 2.4895 | −0.072% | $979K | $315K | 75x | as long as short |
| GMX CAKE/USD [WBTC.b-USDC] | L +0.0416% / S −0.0269% | 1h | 2.4916 | +0.013% | $37K | — | 100x | as long as short |
| Kraken Futures PF_CAKEUSD | +0.0703% | 1h | 2.4962 | +0.196% | $52K | $37K | 10x | as long as short |
MEXC CAKE_USDT
Bitget CAKEUSDT
BingX CAKE-USDT
BloFin CAKE-USDT
GMX CAKE/USD [WBTC.b-USDC]
Kraken Futures PF_CAKEUSD