Funding arb · Price arb /

CAKE

all CAKE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0729%/8h= −79.9% APRpaid last 24h −0.247%

Price spread now: Aster against Kraken Futures−0.005%7-day average — · you buy dearer than you sell

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

Long on Kraken Futures Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.684%−$68 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$22 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_CAKEUSD	2.5268	0.0829	pay 0.0104% / 1h	22m 14s	$54K	$37K	10x
Short	Aster CAKEUSDT	2.5267	0.0100	get 0.0050% / 4h	2h 22m	$2.4M	$76K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Kraken Futures. 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 Kraken FuturesbpFee AsterbpOrdersPrice spread, now −0.005%Rate

Funding earned: −$153.14
Price spread: −0.005% → 0.000%: −$0.45
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$171.59
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Kraken Futures: no order-book sample; Aster: live order book, 1 min ago. 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 Kraken Futures no order-book sample	—	—	—	—	—
Sell Aster live order book, 1 min ago	4.16 bp	17.2 bp −$17	651.8 bp −$6,518	doesn't fit	doesn't fit

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 15 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
Orderly PERP_CAKE_USDC	+0.0015%	4h	2.5243	−0.099%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	+0.681%	$113	$52K	5.5x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5278	+0.040%	$3.2M	$2.6M	3x	as long as short
Aster CAKEUSDTshort	+0.0100%	4h	2.5267	−0.005%	$2.4M	$76K	10x
Binance CAKEUSDT	+0.0100%	4h	2.5242	−0.104%	$18.0M	$33.8M	75x	as long as short
Bybit CAKEUSDT	+0.0100%	4h	2.5224	−0.174%	$5.3M	$3.7M	50x	as long as short
Gate CAKE_USDT	+0.0100%	4h	2.5240	−0.111%	$879K	$670K	75x	as long as short
MEXC CAKE_USDT	+0.0100%	4h	2.5257	−0.043%	$13.8M	$2.9M	125x	as long as short
KuCoin CAKEUSDTM	+0.0100%	4h	2.5256	−0.047%	$2.4M	$5.5M	50x	as long as short
Bitget CAKEUSDT	+0.0100%	4h	2.5262	−0.024%	$2.6M	$2.5M	75x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX CAKE-USDT	+0.0100%	4h	2.5247	−0.083%	—	$3.5M	—	as long as short
Variational Omni CAKE	+0.0100%	4h	2.5226	−0.167%	$536K	$458K	—	as long as short
ApeX Omni CAKEUSDT	+0.0100%	1h	2.5250	−0.071%	$11K	$682K	50x	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0417% / S −0.0269%	1h	2.5257	−0.042%	$37K	—	100x	as long as short
Kraken Futures PF_CAKEUSDlong	+0.0829%	1h	2.5268	long leg	$54K	$37K	10x