Settings8H · net · $10k
Funding arb · Price arb /

CAKE

all CAKE markets
SwapBacktest
Alert: funding
Alert: spread
Funding you earn now, next payment 08:00 UTC+0.0052%/8h= +5.7% APRnext payment +$0.26 per $10,000 · paid last 24h +0.016%
Price spread now: BloFin against Orderly+0.032%7-day average · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
What this pair did over the last
the charts below follow
Funding, last 5 days (all we have)no history yet
Price spread, last 7 daysno price history on both exchanges yet
Together, before feesneeds both histories
Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and BloFin is 0.032% dearer against Orderly than usual: you sell high and buy low: +$3 more if the spread goes back to zero (this spread has no 7-day history yet).
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongOrderly PERP_CAKE_USDC2.49640.0004pay 0.0002% / 4h3h 27m$7K$14K10x
ShortBloFin CAKE-USDT2.49720.0056get 0.0028% / 4h3h 27m$992K$356K75x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

BloFin against Orderly. 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

Funding earned
$10.91
Price spread: +0.032% → 0.000%
$3.2
Slippage, 4 orders
no order book: not counted
Fee Orderly: 3 bp × 2 orders
−$6
Fee BloFin: 6 bp × 2 orders
−$12
Net
−$3.89
Costs to cover
0.180%
Break-even
9.5 days
Slippage unknown: Orderly: no order-book sample; BloFin: live order book, 5 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Orderly no order-book sample
Sell BloFin live order book, 5 min ago1.20 bp12.6 bp −$1324.8 bp −$248doesn't fitdoesn'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 on 16 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bybit CAKEUSDT−0.0480%4h2.4951−0.052%$5.2M$3.5M50xas long as short
ApeX Omni CAKEUSDT−0.0141%1h2.5041+0.308%$11K$680K50xas long as short
Orderly PERP_CAKE_USDClong+0.0004%4h2.4964long leg$7K$14K10x
Injective CAKE/USDC PERP+0.0033%1h2.5440+1.907%$113$52K5.5xas long as short
BloFin CAKE-USDTshort+0.0056%4h2.4972+0.032%$992K$356K75x
Hyperliquid CAKE+0.0100%1h2.4996+0.128%$3.1M$2.5M3xas long as short
Aster CAKEUSDT+0.0100%4h2.4990+0.104%$2.3M$78K10xas long as short
Binance CAKEUSDT+0.0100%4h2.4960−0.014%$17.8M$31.3M75xas long as short
Gate CAKE_USDT+0.0100%4h2.4967+0.012%$869K$636K75xas long as short
MEXC CAKE_USDT+0.0100%4h2.4960−0.016%$13.3M$2.8M125xas long as short
Show all 16 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
KuCoin CAKEUSDTM+0.0100%4h2.4961−0.012%$2.4M$5.5M50xas long as short
Bitget CAKEUSDT+0.0100%4h2.4995+0.124%$2.5M$2.4M75xas long as short
BingX CAKE-USDT+0.0100%4h2.4981+0.068%$3.8Mas long as short
Variational Omni CAKE+0.0100%4h2.5031+0.267%$513K$475Kas long as short
Kraken Futures PF_CAKEUSD+0.0353%1h2.4964+0.001%$52K$38K10xas long as short
GMX CAKE/USD [WBTC.b-USDC]L +0.0415% / S −0.0269%1h2.4978+0.054%$37K100xas long as short