CAKE

Alert

Spread before costs (cost unknown: a leg has no order-book sample)+0.109%

7d average—if it closes, per $10,000$11funding while held, a day−$9.68

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX CAKE/USD [WBTC.b-USDC]	2.5493	L +0.0423% / S −0.0272%	pay 0.0053% / 1h	35m 52s	$38K	—	100x
Short	Aster CAKEUSDT	2.5521	0.0100	get 0.0050% / 4h	2h 35m	$2.4M	$132K	10x

Price spread history

latest

Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Position, each leg$Hold forhoursFee GMXbpFee AsterbpOrdersClose when spread is

Spread captured: $10.91
Funding while held: −$9.68
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Aster: 4 bp × 2 orders: −$8
Net: −$18.77
Spread needed to break even: 0.200%

Slippage unknown: GMX: no order-book sample; Aster: live order book, 4 min ago. Net counts fees only.

Cost of waiting

funding view

Funding /8h: −0.0323%
Per $10,000 a day: −$9.68
Average in range /8h: —

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 GMX no order-book sample	—	—	—	—	—
Sell Aster live order book, 4 min ago	4.90 bp	24.4 bp −$24	1760.9 bp −$17.6K	doesn't fit	doesn't fit

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 price on every exchange

against the cheapest. Click to use as the short leg.

Variational Omni2.5431cheapest ApeX Omni2.5483+0.203%Orderly2.5489+0.226%

GMX2.5493+0.242%

BloFin2.5496+0.254%Gate2.5499+0.266%Bybit2.5500+0.270%KuCoin2.5507+0.297%MEXC2.5510+0.309%BingX2.5512+0.317%Binance2.5513+0.321%

Aster2.5521+0.351%

Bitget2.5525+0.368%Hyperliquid2.5537+0.415%Kraken Futures2.5561+0.511%Injective2.5600+0.663%

CAKE on 16 venues

cheapest first. Swap a leg.

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Variational Omni CAKE	−0.241%	+0.0100%	4h	$555K	$508K	—	as long as short
ApeX Omni CAKEUSDT	−0.039%	+0.0100%	1h	$11K	$696K	50x	as long as short
Orderly PERP_CAKE_USDC	−0.015%	+0.0049%	4h	$7K	$15K	10x	as long as short
GMX CAKE/USD [WBTC.b-USDC]long	0.000%	L +0.0423% / S −0.0272%	1h	$38K	—	100x
BloFin CAKE-USDT	+0.012%	+0.0136%	4h	$999K	$388K	75x	as long as short
Gate CAKE_USDT	+0.024%	+0.0100%	4h	$848K	$1.1M	75x	as long as short
Bybit CAKEUSDT	+0.028%	+0.0100%	4h	$5.3M	$4.5M	50x	as long as short
KuCoin CAKEUSDTM	+0.055%	+0.0100%	4h	$2.5M	$6.1M	50x	as long as short
MEXC CAKE_USDT	+0.067%	+0.0100%	4h	$12.9M	$2.6M	125x	as long as short
BingX CAKE-USDT	+0.075%	+0.0100%	4h	—	$3.3M	—	as long as short

Show all 16 venues

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Binance CAKEUSDT	+0.079%	+0.0100%	4h	$18.0M	$42.5M	75x	as long as short
Aster CAKEUSDTshort	+0.109%	+0.0100%	4h	$2.4M	$132K	10x
Bitget CAKEUSDT	+0.126%	+0.0100%	4h	$2.6M	$3.1M	75x	as long as short
Hyperliquid CAKE	+0.173%	+0.0100%	1h	$3.0M	$4.4M	3x	as long as short
Kraken Futures PF_CAKEUSD	+0.269%	+0.1441%	1h	$58K	$52K	10x	as long as short
Injective CAKE/USDC PERP	+0.420%	+0.0033%	1h	$114	$50	5.5x	as long as short