Funding arb · Price arb /

CAKE

all CAKE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Binance against KuCoin−0.068%7-day average −0.030% · you buy dearer than you sell

Net, funding: paid 7d − costs−$94as in the Funding arb table

Net, price: spread back to 7d avg − costs−$103as in the Price arb table

costs, in and out, $10k−$1000.996% of the position

Long on KuCoin Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.054%+$5 on $10k

Price spread, last 7 days+0.069%+$7 · spread now −0.068%, 7d avg −0.030%

Together, before fees+0.123%+$12 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Binance is 0.037% cheaper against KuCoin than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.030%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin CAKEUSDTM	2.5053	0.0100	pay 0.0050% / 4h	18m 45s	$2.4M	$5.4M	50x
Short	Binance CAKEUSDT	2.5036	0.0100	get 0.0050% / 4h	18m 45s	$17.9M	$31.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against KuCoin. 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 KuCoinbpFee BinancebpOrdersPrice spread, now −0.068%Rate

Funding earned: $0
Price spread: −0.068% → −0.030%: −$3.75
Slippage, 4 orders: −$77.64
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$103.38
Costs to cover: 0.996%
Break-even: never at this rate

Slippage from KuCoin: live order book, 4 min ago; Binance: live order book, 8 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 KuCoin live order book, 4 min ago	4.79 bp	42.6 bp −$43	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 8 min ago	0.80 bp	10.8 bp −$11	23.5 bp −$235	123.6 bp −$12.4K	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
ApeX Omni CAKEUSDT	+0.0005%	1h	2.5048	−0.020%	$11K	$678K	50x	as long as short
Orderly PERP_CAKE_USDC	+0.0021%	4h	2.5051	−0.008%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	+1.545%	$113	$52K	5.5x	as long as short
BloFin CAKE-USDT	+0.0097%	4h	2.5041	−0.048%	$995K	$357K	75x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5067	+0.055%	$3.1M	$2.5M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.5063	+0.038%	$2.4M	$79K	10x	as long as short
Binance CAKEUSDTshort	+0.0100%	4h	2.5036	−0.068%	$17.9M	$31.2M	75x
Bybit CAKEUSDT	+0.0100%	4h	2.5030	−0.092%	$5.2M	$3.6M	50x	as long as short
Gate CAKE_USDT	+0.0100%	4h	2.5033	−0.080%	$872K	$642K	75x	as long as short
MEXC CAKE_USDT	+0.0100%	4h	2.5040	−0.052%	$13.3M	$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 CAKEUSDTMlong	+0.0100%	4h	2.5053	long leg	$2.4M	$5.4M	50x
Bitget CAKEUSDT	+0.0100%	4h	2.5066	+0.052%	$2.6M	$2.3M	75x	as long as short
BingX CAKE-USDT	+0.0100%	4h	2.5042	−0.044%	—	$3.8M	—	as long as short
Variational Omni CAKE	+0.0100%	4h	2.5005	−0.190%	$519K	$469K	—	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0416% / S −0.0269%	1h	2.5067	+0.056%	$37K	—	100x	as long as short
Kraken Futures PF_CAKEUSD	+0.0749%	1h	2.5096	+0.171%	$53K	$38K	10x	as long as short