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: Bybit against KuCoin−0.024%7-day average −0.051% · you buy dearer than you sell

Net, funding: paid 7d − costs−$121as in the Funding arb table

Net, price: spread back to 7d avg − costs−$105as in the Price arb table

costs, in and out, $10k−$1071.073% of the position

Long on KuCoin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.134%−$13 on $10k

Price spread, last 7 days−0.009%−$1 · spread now −0.024%, 7d avg −0.051%

Together, before fees−0.143%−$14 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: Bybit is 0.027% dearer against KuCoin than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.051%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin CAKEUSDTM	2.5396	0.0100	pay 0.0050% / 4h	1h 15m	$2.5M	$5.7M	50x
Short	Bybit CAKEUSDT	2.5390	0.0100	get 0.0050% / 4h	1h 15m	$5.3M	$4.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.024%Rate

Funding earned: $0
Price spread: −0.024% → −0.051%: $2.71
Slippage, 4 orders: −$84.31
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$104.6
Costs to cover: 1.073%
Break-even: never at this rate

Slippage from KuCoin: live order book, 3 min ago; Bybit: live order book, 3 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, 3 min ago	4.72 bp	28.5 bp −$28	134.7 bp −$1,347	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	1.97 bp	25.9 bp −$26	51.8 bp −$518	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	+0.0020%	4h	2.5383	−0.051%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	+0.173%	$113	$52K	5.5x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5441	+0.177%	$3.2M	$3.2M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.5406	+0.040%	$2.4M	$87K	10x	as long as short
Binance CAKEUSDT	+0.0100%	4h	2.5405	+0.035%	$18.3M	$38.2M	75x	as long as short
Bybit CAKEUSDTshort	+0.0100%	4h	2.5390	−0.024%	$5.3M	$4.0M	50x
Gate CAKE_USDT	+0.0100%	4h	2.5389	−0.028%	$886K	$765K	75x	as long as short
MEXC CAKE_USDT	+0.0100%	4h	2.5401	+0.020%	$14.1M	$2.8M	125x	as long as short
KuCoin CAKEUSDTMlong	+0.0100%	4h	2.5396	long leg	$2.5M	$5.7M	50x
Bitget CAKEUSDT	+0.0100%	4h	2.5414	+0.071%	$2.7M	$2.8M	75x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX CAKE-USDT	+0.0100%	4h	2.5400	+0.016%	—	$3.6M	—	as long as short
Variational Omni CAKE	+0.0100%	4h	2.5367	−0.115%	$532K	$492K	—	as long as short
ApeX Omni CAKEUSDT	+0.0100%	1h	2.5398	+0.008%	$13K	$699K	50x	as long as short
BloFin CAKE-USDT	+0.0114%	4h	2.5398	+0.008%	$995K	$364K	75x	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0420% / S −0.0272%	1h	2.5390	−0.024%	$38K	—	100x	as long as short
Kraken Futures PF_CAKEUSD	+0.0776%	1h	2.5468	+0.284%	$57K	$37K	10x	as long as short