Funding arb · Price arb /

CAKE

all CAKE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0649%/8h= +71.1% APRpaid last 24h +0.228%

Price spread now: Kraken Futures against Gate+0.315%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 Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.759%+$76 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 0.315% dearer against Gate than usual: you sell high and buy low: +$31 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	2.5030	0.0100	pay 0.0050% / 4h	21m 09s	$872K	$642K	75x
Short	Kraken Futures PF_CAKEUSD	2.5109	0.0749	get 0.0094% / 1h	21m 09s	$53K	$38K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.315%Rate

Funding earned: $136.27
Price spread: +0.315% → 0.000%: $31.46
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $142.73
Costs to cover: 0.250%
Break-even: from the start

Slippage unknown: Gate: live order book, 36 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 Gate live order book, 36 min ago	3.58 bp	32.9 bp −$33	133.1 bp −$1,331	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	−0.0013%	1h	2.5069	+0.156%	$11K	$677K	50x	as long as short
Orderly PERP_CAKE_USDC	+0.0021%	4h	2.5028	−0.008%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	+1.638%	$113	$52K	5.5x	as long as short
BloFin CAKE-USDT	+0.0045%	4h	2.5044	+0.056%	$995K	$357K	75x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5070	+0.161%	$3.1M	$2.5M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.5049	+0.077%	$2.4M	$79K	10x	as long as short
Binance CAKEUSDT	+0.0100%	4h	2.5045	+0.061%	$17.9M	$31.2M	75x	as long as short
Bybit CAKEUSDT	+0.0100%	4h	2.5027	−0.012%	$5.2M	$3.6M	50x	as long as short
Gate CAKE_USDTlong	+0.0100%	4h	2.5030	long leg	$872K	$642K	75x
MEXC CAKE_USDT	+0.0100%	4h	2.5050	+0.080%	$13.4M	$2.9M	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	2.5045	+0.060%	$2.4M	$5.4M	50x	as long as short
Bitget CAKEUSDT	+0.0100%	4h	2.5066	+0.144%	$2.6M	$2.3M	75x	as long as short
BingX CAKE-USDT	+0.0100%	4h	2.5039	+0.036%	—	$3.8M	—	as long as short
Variational Omni CAKE	+0.0100%	4h	2.5015	−0.058%	$519K	$469K	—	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0416% / S −0.0269%	1h	2.5046	+0.066%	$37K	—	100x	as long as short
Kraken Futures PF_CAKEUSDshort	+0.0749%	1h	2.5109	+0.315%	$53K	$38K	10x