Funding arb · Price arb /

CAKE

all CAKE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.014%

Price spread now: ApeX Omni against Variational Omni+0.133%7-day average +0.057% · you sell dearer than you buy

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

Long on Variational Omni Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.032%−$3 on $10k

Price spread, last 4 days (all we have)−0.067%−$7 · spread now +0.133%, 7d avg +0.057%

Together, before fees−0.099%+ Points / potential airdropVariational Omni: Active · farm board−$10 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: ApeX Omni is 0.076% dearer against Variational Omni than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of +0.057%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni CAKE	2.5051	0.0100	pay 0.0050% / 4h	3h 51m	$513K	$475K	—
Short	ApeX Omni CAKEUSDT	2.5084	0.0100	get 0.0013% / 1h	51m 05s	$11K	$679K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Variational Omni. 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 Variational OmnibpFee ApeX OmnibpOrdersPrice spread, now +0.133%Rate

Funding earned: $0
Price spread: +0.133% → +0.057%: $7.59
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$2.41
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; ApeX Omni: live order book, 67 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 Variational Omni RFQ quote, 3 min ago	4.72 bp	doesn't fit	48.5 bp −$485	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 67 min ago	7.17 bp	14.6 bp −$15	104.8 bp −$1,048	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	−0.0248%	4h	2.5050	−0.002%	$5.2M	$3.6M	50x	as long as short
Orderly PERP_CAKE_USDC	+0.0012%	4h	2.5067	+0.065%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	+1.554%	$113	$52K	5.5x	as long as short
BloFin CAKE-USDT	+0.0061%	4h	2.5062	+0.045%	$996K	$357K	75x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5079	+0.113%	$3.1M	$2.5M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.5082	+0.127%	$2.4M	$79K	10x	as long as short
Binance CAKEUSDT	+0.0100%	4h	2.5050	−0.004%	$17.9M	$31.3M	75x	as long as short
Gate CAKE_USDT	+0.0100%	4h	2.5078	+0.109%	$874K	$635K	75x	as long as short
MEXC CAKE_USDT	+0.0100%	4h	2.5052	+0.006%	$13.3M	$2.8M	125x	as long as short
KuCoin CAKEUSDTM	+0.0100%	4h	2.5060	+0.037%	$2.4M	$5.4M	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget CAKEUSDT	+0.0100%	4h	2.5080	+0.117%	$2.5M	$2.4M	75x	as long as short
BingX CAKE-USDT	+0.0100%	4h	2.5054	+0.014%	—	$3.8M	—	as long as short
Variational Omni CAKElong	+0.0100%	4h	2.5051	long leg	$513K	$475K	—
ApeX Omni CAKEUSDTshort	+0.0100%	1h	2.5084	+0.133%	$11K	$679K	50x
Kraken Futures PF_CAKEUSD	+0.0351%	1h	2.5158	+0.429%	$53K	$38K	10x	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0416% / S −0.0269%	1h	2.5086	+0.143%	$37K	—	100x	as long as short