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: Bitget against KuCoin+0.086%7-day average −0.036% · you sell dearer than you buy

Net, funding: paid 7d − costs−$119as in the Funding arb table

Net, price: spread back to 7d avg − costs−$107as in the Price arb table

costs, in and out, $10k−$1201.196% of the position

Long on KuCoin Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.004%$0 on $10k

Price spread, last 7 days−0.025%−$3 · spread now +0.086%, 7d avg −0.036%

Together, before fees−0.021%−$2 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: Bitget is 0.122% dearer against KuCoin than usual: you sell high and buy low, +$12 on $10k if it goes back to its 7-day average of −0.036%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin CAKEUSDTM	2.5480	0.0100	pay 0.0050% / 4h	3h 36m	$2.5M	$5.5M	50x
Short	Bitget CAKEUSDT	2.5502	0.0100	get 0.0050% / 4h	3h 36m	$2.7M	$2.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.086%Rate

Funding earned: $0
Price spread: +0.086% → −0.036%: $12.23
Slippage, 4 orders: −$95.57
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$107.34
Costs to cover: 1.196%
Break-even: never at this rate

Slippage from KuCoin: live order book, 2 min ago; Bitget: live order book, 1 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, 2 min ago	4.12 bp	44.8 bp −$45	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 1 min ago	0.39 bp	27.9 bp −$28	53.3 bp −$533	doesn't fit	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
Orderly PERP_CAKE_USDC	+0.0024%	4h	2.5483	+0.012%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	−0.157%	$113	$52K	5.5x	as long as short
BloFin CAKE-USDT	+0.0041%	4h	2.5509	+0.114%	$997K	$363K	75x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5515	+0.137%	$3.2M	$2.6M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.5503	+0.089%	$2.4M	$78K	10x	as long as short
Binance CAKEUSDT	+0.0100%	4h	2.5487	+0.027%	$18.2M	$35.5M	75x	as long as short
Bybit CAKEUSDT	+0.0100%	4h	2.5460	−0.078%	$5.3M	$3.9M	50x	as long as short
Gate CAKE_USDT	+0.0100%	4h	2.5482	+0.008%	$893K	$681K	75x	as long as short
MEXC CAKE_USDT	+0.0100%	4h	2.5490	+0.039%	$14.1M	$2.8M	125x	as long as short
KuCoin CAKEUSDTMlong	+0.0100%	4h	2.5480	long leg	$2.5M	$5.5M	50x

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget CAKEUSDTshort	+0.0100%	4h	2.5502	+0.086%	$2.7M	$2.6M	75x
BingX CAKE-USDT	+0.0100%	4h	2.5477	−0.012%	—	$3.6M	—	as long as short
Variational Omni CAKE	+0.0100%	4h	2.5451	−0.114%	$534K	$469K	—	as long as short
ApeX Omni CAKEUSDT	+0.0100%	1h	2.5481	+0.004%	$11K	$697K	50x	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0421% / S −0.0272%	1h	2.5489	+0.035%	$38K	—	100x	as long as short
Kraken Futures PF_CAKEUSD	+0.0708%	1h	2.5528	+0.187%	$55K	$37K	10x	as long as short