Funding arb · Price arb /

CAKE

all CAKE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Variational Omni against KuCoin+0.279%7-day average −0.058% · you sell dearer than you buy

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

Long on KuCoin Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.040%−$4 on $10k

Price spread, last 4 days (all we have)−0.336%−$34 · spread now +0.279%, 7d avg −0.058%

Together, before fees−0.377%+ Points / potential airdropVariational Omni: Active · farm board−$38 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: Variational Omni is 0.336% dearer against KuCoin than usual: you sell high and buy low, +$34 on $10k if it goes back to its 7-day average of −0.058%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin CAKEUSDTM	2.4961	0.0100	pay 0.0050% / 4h	3h 26m	$2.4M	$5.5M	50x
Short	Variational Omni CAKE	2.5031	0.0100	get 0.0050% / 4h	3h 26m	$513K	$475K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against KuCoin. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpOrdersPrice spread, now +0.279%Rate

Funding earned: $0
Price spread: +0.279% → −0.058%: $33.65
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $21.65
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: KuCoin: live order book, 1 min ago; Variational Omni: RFQ quote, 27 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 KuCoin live order book, 1 min ago	3.61 bp	51.2 bp −$51	177.7 bp −$1,777	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 27 min ago	4.72 bp	doesn't fit	50.4 bp −$504	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
Bybit CAKEUSDT	−0.0393%	4h	2.4940	−0.084%	$5.2M	$3.5M	50x	as long as short
ApeX Omni CAKEUSDT	−0.0141%	1h	2.5041	+0.320%	$11K	$680K	50x	as long as short
Orderly PERP_CAKE_USDC	+0.0004%	4h	2.4964	+0.012%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	+1.919%	$113	$52K	5.5x	as long as short
BloFin CAKE-USDT	+0.0056%	4h	2.4972	+0.044%	$992K	$356K	75x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.4989	+0.112%	$3.1M	$2.5M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.4976	+0.059%	$2.3M	$78K	10x	as long as short
Binance CAKEUSDT	+0.0100%	4h	2.4959	−0.008%	$17.8M	$31.2M	75x	as long as short
Gate CAKE_USDT	+0.0100%	4h	2.4939	−0.088%	$868K	$636K	75x	as long as short
MEXC CAKE_USDT	+0.0100%	4h	2.4958	−0.012%	$13.3M	$2.8M	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	2.4961	long leg	$2.4M	$5.5M	50x
Bitget CAKEUSDT	+0.0100%	4h	2.4961	0.000%	$2.5M	$2.4M	75x	as long as short
BingX CAKE-USDT	+0.0100%	4h	2.4950	−0.044%	—	$3.8M	—	as long as short
Variational Omni CAKEshort	+0.0100%	4h	2.5031	+0.279%	$513K	$475K	—
Kraken Futures PF_CAKEUSD	+0.0353%	1h	2.4964	+0.013%	$52K	$38K	10x	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0415% / S −0.0269%	1h	2.4978	+0.066%	$37K	—	100x	as long as short