CAKE

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0020%/8h= −2.2% APRnext payment −$0.10 per $10,000 · paid last 24h −0.001%

Price spread now: BloFin against MEXC−0.036%79s7-day average −0.019% · you buy dearer than you sell

Net, funding: paid 7d − costs−$25as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$390.391% of the position

Long on MEXC Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.136%+$14 on $10k

Price spread, last 4 days (all we have)−0.678%−$68 · spread now −0.036%, 7d avg −0.019%

Together, before fees−0.542%−$54 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.019%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.136%, so the current rate has only just turned against you. The two prices were read 79 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC CAKE_USDT	2.5090	0.0048	pay 0.0024% / 4h	3h 21m	$15.3M	$2.9M	125x
Short	BloFin CAKE-USDT	2.5081	0.0028	get 0.0014% / 4h	3h 21m	$993K	$316K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against MEXC. 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 MEXCbpFee BloFinbpOrdersPrice spread, now −0.036%Rate

Funding earned: −$4.28
Price spread: −0.036% → −0.019%: −$1.66
Slippage, 4 orders: −$23.06
Fee MEXC: 2 bp × 2 orders: −$4
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$44.99
Costs to cover: 0.391%
Break-even: never at this rate

Slippage from MEXC: live order book, 1 min ago; BloFin: live order book, 55 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 MEXC live order book, 1 min ago	0.60 bp	4.6 bp −$5	19.8 bp −$198	83.5 bp −$8,348	doesn't fit
Sell BloFin live order book, 55 min ago	1.21 bp	10.0 bp −$10	23.8 bp −$238	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	−0.1481%	4h	2.5080	−0.040%	$5.4M	$3.1M	50x	as long as short
Variational Omni CAKE	−0.0625%	4h	2.4940	−0.597%	$515K	$418K	—	as long as short
ApeX Omni CAKEUSDT	−0.0285%	1h	2.4966	−0.494%	$11K	$669K	50x	as long as short
Kraken Futures PF_CAKEUSD	−0.0281%	1h	2.5092	+0.006%	$55K	$44K	10x	as long as short
Orderly PERP_CAKE_USDC	−0.0145%	4h	2.5086	−0.016%	$7K	$14K	10x	as long as short
BloFin CAKE-USDTshort	+0.0028%	4h	2.5081	−0.036%	$993K	$316K	75x
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	+1.395%	$113	$52K	5.5x	as long as short
MEXC CAKE_USDTlong	+0.0048%	4h	2.5090	long leg	$15.3M	$2.9M	125x
Binance CAKEUSDT	+0.0049%	4h	2.5089	−0.002%	$17.6M	$27.1M	75x	as long as short
KuCoin CAKEUSDTM	+0.0062%	4h	2.5083	−0.028%	$2.5M	$5.1M	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid CAKE	+0.0100%	1h	2.5102	+0.048%	$3.1M	$1.8M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.5087	−0.010%	$2.3M	$158K	10x	as long as short
Gate CAKE_USDT	+0.0100%	4h	2.5070	−0.080%	$895K	$594K	75x	as long as short
Bitget CAKEUSDT	+0.0100%	4h	2.5088	−0.008%	$2.6M	$2.0M	75x	as long as short
BingX CAKE-USDT	+0.0100%	4h	2.5089	−0.004%	—	$3.8M	—	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0381% / S −0.0214%	1h	2.5096	+0.025%	$37K	—	100x	as long as short