CAKE

Alert

Spread before costs (cost unknown: a leg has no order-book sample)−0.004%

7d average—if it closes, per $10,000$0funding while held, a day+$1.57

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_CAKE_USDC	2.5515	0.0048	pay 0.0024% / 4h	1h 42m	$7K	$15K	10x
Short	Binance CAKEUSDT	2.5514	0.0100	get 0.0050% / 4h	1h 42m	$17.9M	$42.6M	75x

Price spread history

latest

Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Position, each leg$Hold forhoursFee OrderlybpFee BinancebpOrdersClose when spread is

Spread captured: −$0.39
Funding while held: $1.57
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Binance: 5 bp × 2 orders: −$10
Net: −$14.83
Spread needed to break even: 0.160%

Slippage unknown: Orderly: no order-book sample; Binance: live order book, 16 min ago. Net counts fees only.

Cost of waiting

funding view

Funding /8h: +0.0052%
Per $10,000 a day: +$1.57
Average in range /8h: —

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 Orderly no order-book sample	—	—	—	—	—
Sell Binance live order book, 16 min ago	0.39 bp	12.2 bp −$12	36.5 bp −$365	doesn't fit	doesn't fit

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

CAKE price on every exchange

against the cheapest. Click to use as the short leg.

Bybit2.5510cheapest MEXC2.5510cheapest

Binance2.5514+0.016%

Orderly2.5515+0.020%

Gate2.5517+0.027%ApeX Omni2.5517+0.027%BingX2.5519+0.035%Variational Omni2.5521+0.042%BloFin2.5521+0.043%Kraken Futures2.5527+0.065%GMX2.5534+0.093%Aster2.5537+0.106%Hyperliquid2.5538+0.110%KuCoin2.5540+0.118%Bitget2.5541+0.122%Injective2.5600+0.353%

CAKE on 16 venues

cheapest first. Swap a leg.

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Bybit CAKEUSDT	−0.020%	+0.0100%	4h	$5.3M	$4.5M	50x	as long as short
MEXC CAKE_USDT	−0.020%	+0.0100%	4h	$13.2M	$2.8M	125x	as long as short
Binance CAKEUSDTshort	−0.004%	+0.0100%	4h	$17.9M	$42.6M	75x
Orderly PERP_CAKE_USDClong	0.000%	+0.0048%	4h	$7K	$15K	10x
Gate CAKE_USDT	+0.008%	+0.0100%	4h	$852K	$1.1M	75x	as long as short
ApeX Omni CAKEUSDT	+0.008%	+0.0100%	1h	$14K	$696K	50x	as long as short
BingX CAKE-USDT	+0.016%	+0.0100%	4h	—	$3.4M	—	as long as short
Variational Omni CAKE	+0.022%	+0.0100%	4h	$543K	$516K	—	as long as short
BloFin CAKE-USDT	+0.024%	+0.0158%	4h	$988K	$392K	75x	as long as short
Kraken Futures PF_CAKEUSD	+0.046%	+0.0968%	1h	$58K	$48K	10x	as long as short

Show all 16 venues

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
GMX CAKE/USD [WBTC.b-USDC]	+0.074%	L +0.0422% / S −0.0272%	1h	$38K	—	100x	as long as short
Aster CAKEUSDT	+0.086%	+0.0100%	4h	$2.4M	$127K	10x	as long as short
Hyperliquid CAKE	+0.090%	+0.0100%	1h	$3.0M	$4.4M	3x	as long as short
KuCoin CAKEUSDTM	+0.098%	+0.0100%	4h	$2.5M	$6.0M	50x	as long as short
Bitget CAKEUSDT	+0.102%	+0.0100%	4h	$2.7M	$3.2M	75x	as long as short
Injective CAKE/USDC PERP	+0.333%	+0.0033%	1h	$114	$50	5.5x	as long as short