Funding arb · Price arb /

CAKE

all CAKE markets

Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: BingX against KuCoin−0.063%7-day average −0.042% · you buy dearer than you sell

Net, funding: paid 7d − costs−$115as in the Funding arb table

Net, price: spread back to 7d avg − costs−$108as in the Price arb table

costs, in and out, $10k−$1061.057% of the position

Long on KuCoin Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.095%−$9 on $10k

Price spread, last 7 days+0.046%+$5 · spread now −0.063%, 7d avg −0.042%

Together, before fees−0.049%−$5 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: BingX is 0.021% cheaper against KuCoin than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of −0.042%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin CAKEUSDTM	2.5456	0.0100	pay 0.0050% / 4h	1h 58m	$2.5M	$5.7M	50x
Short	BingX CAKE-USDT	2.5440	0.0100	get 0.0050% / 4h	1h 58m	—	$3.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.063%Rate

Funding earned: $0
Price spread: −0.063% → −0.042%: −$2.06
Slippage, 4 orders: −$83.73
Fee KuCoin: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$107.79
Costs to cover: 1.057%
Break-even: never at this rate

Slippage from KuCoin: live order book, 9 min ago; BingX: live order book, 7 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, 9 min ago	3.14 bp	51.8 bp −$52	143.2 bp −$1,432	doesn't fit	doesn't fit
Sell BingX live order book, 7 min ago	3.34 bp	10.2 bp −$10	13.3 bp −$133	24.4 bp −$2,440	44.8 bp −$22.4K

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
Orderly PERP_CAKE_USDC	+0.0015%	4h	2.5446	−0.039%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	−0.063%	$113	$52K	5.5x	as long as short
BloFin CAKE-USDT	+0.0043%	4h	2.5436	−0.079%	$996K	$355K	75x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5465	+0.035%	$3.2M	$3.3M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.5456	0.000%	$2.4M	$89K	10x	as long as short
Binance CAKEUSDT	+0.0100%	4h	2.5437	−0.075%	$18.3M	$38.7M	75x	as long as short
Bybit CAKEUSDT	+0.0100%	4h	2.5430	−0.102%	$5.3M	$4.1M	50x	as long as short
Gate CAKE_USDT	+0.0100%	4h	2.5441	−0.059%	$888K	$761K	75x	as long as short
MEXC CAKE_USDT	+0.0100%	4h	2.5439	−0.067%	$14.2M	$2.8M	125x	as long as short
KuCoin CAKEUSDTMlong	+0.0100%	4h	2.5456	long leg	$2.5M	$5.7M	50x

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget CAKEUSDT	+0.0100%	4h	2.5445	−0.043%	$2.7M	$2.8M	75x	as long as short
BingX CAKE-USDTshort	+0.0100%	4h	2.5440	−0.063%	—	$3.5M	—
Variational Omni CAKE	+0.0100%	4h	2.5434	−0.086%	$542K	$491K	—	as long as short
ApeX Omni CAKEUSDT	+0.0100%	1h	2.5443	−0.051%	$13K	$697K	50x	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0420% / S −0.0272%	1h	2.5450	−0.025%	$38K	—	100x	as long as short
Kraken Futures PF_CAKEUSD	+0.0773%	1h	2.5589	+0.522%	$57K	$37K	10x	as long as short