Funding arb · Price arb /

CAKE

all CAKE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0169%/8h= +18.5% APRpaid last 24h +0.045%

Price spread now: GMX against Gate+0.131%7-day average — · you sell dearer than you buy

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

Long on Gate Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 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 +$5 a day on $10k at the current rate, and GMX is 0.131% dearer against Gate than usual: you sell high and buy low: +$13 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	Gate CAKE_USDT	2.4815	0.0100	pay 0.0050% / 4h	3h 00m	$863K	$639K	75x
Short	GMX CAKE/USD [WBTC.b-USDC]	2.4848	L +0.0414% / S −0.0269%	get 0.0034% / 1h	0m 10s	$37K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Gate. 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 GatebpFee GMXbpOrdersPrice spread, now +0.131%Rate

Funding earned: $35.46
Price spread: +0.131% → 0.000%: $13.15
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee GMX: 6 bp × 2 orders: −$12
Net: $21.61
Costs to cover: 0.270%
Break-even: 2.7 days

Slippage unknown: Gate: live order book, 52 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 Gate live order book, 52 min ago	4.79 bp	39.5 bp −$39	151.7 bp −$1,517	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
ApeX Omni CAKEUSDT	−0.0109%	1h	2.4889	+0.298%	$10K	$677K	50x	as long as short
Bybit CAKEUSDT	−0.0049%	4h	2.4830	+0.060%	$5.1M	$3.5M	50x	as long as short
Orderly PERP_CAKE_USDC	−0.0013%	4h	2.4827	+0.048%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	+2.519%	$113	$52K	5.5x	as long as short
BloFin CAKE-USDT	+0.0063%	4h	2.4838	+0.093%	$988K	$318K	75x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.4849	+0.137%	$3.1M	$2.2M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.4841	+0.105%	$2.3M	$80K	10x	as long as short
Binance CAKEUSDT	+0.0100%	4h	2.4832	+0.068%	$17.6M	$31.2M	75x	as long as short
Gate CAKE_USDTlong	+0.0100%	4h	2.4815	long leg	$863K	$639K	75x
MEXC CAKE_USDT	+0.0100%	4h	2.4833	+0.073%	$13.1M	$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	2.4820	+0.020%	$2.4M	$5.4M	50x	as long as short
Bitget CAKEUSDT	+0.0100%	4h	2.4849	+0.137%	$2.4M	$2.4M	75x	as long as short
BingX CAKE-USDT	+0.0100%	4h	2.4832	+0.069%	—	$3.8M	—	as long as short
Variational Omni CAKE	+0.0100%	4h	2.4806	−0.038%	$508K	$470K	—	as long as short
Kraken Futures PF_CAKEUSD	+0.0354%	1h	2.4898	+0.336%	$52K	$37K	10x	as long as short
GMX CAKE/USD [WBTC.b-USDC]short	L +0.0414% / S −0.0269%	1h	2.4848	+0.131%	$37K	—	100x