Funding arb · Price arb /

CAKE

all CAKE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bitget against Variational Omni+0.214%7-day average +0.036% · you sell dearer than you buy

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

Long on Variational Omni Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.060%+$6 on $10k

Price spread, last 4 days (all we have)−0.510%−$51 · spread now +0.214%, 7d avg +0.036%

Together, before fees−0.450%+ Points / potential airdropVariational Omni: Active · farm board−$45 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: Bitget is 0.178% dearer against Variational Omni than usual: you sell high and buy low, +$18 on $10k if it goes back to its 7-day average of +0.036%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni CAKE	2.5191	0.0100	pay 0.0050% / 4h	2h 29m	$536K	$458K	—
Short	Bitget CAKEUSDT	2.5245	0.0100	get 0.0050% / 4h	2h 29m	$2.6M	$2.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.214%Rate

Funding earned: $0
Price spread: +0.214% → +0.036%: $17.85
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Bitget: 6 bp × 2 orders: −$12
Net: $5.85
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 40 min ago; Bitget: live order book, 3 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, 40 min ago	4.68 bp	doesn't fit	76.0 bp −$760	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	2.38 bp	18.7 bp −$19	39.0 bp −$390	doesn't fit	doesn't fit

CAKE on 15 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
Orderly PERP_CAKE_USDC	+0.0018%	4h	2.5226	+0.139%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	+0.988%	$113	$52K	5.5x	as long as short
ApeX Omni CAKEUSDT	+0.0077%	1h	2.5225	+0.135%	$11K	$681K	50x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5264	+0.289%	$3.2M	$2.6M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.5255	+0.252%	$2.4M	$75K	10x	as long as short
Binance CAKEUSDT	+0.0100%	4h	2.5234	+0.170%	$18.0M	$33.8M	75x	as long as short
Bybit CAKEUSDT	+0.0100%	4h	2.5219	+0.111%	$5.3M	$3.7M	50x	as long as short
Gate CAKE_USDT	+0.0100%	4h	2.5212	+0.083%	$878K	$670K	75x	as long as short
MEXC CAKE_USDT	+0.0100%	4h	2.5236	+0.178%	$13.8M	$2.9M	125x	as long as short
KuCoin CAKEUSDTM	+0.0100%	4h	2.5237	+0.182%	$2.4M	$5.5M	50x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget CAKEUSDTshort	+0.0100%	4h	2.5245	+0.214%	$2.6M	$2.5M	75x
BingX CAKE-USDT	+0.0100%	4h	2.5223	+0.127%	—	$3.5M	—	as long as short
Variational Omni CAKElong	+0.0100%	4h	2.5191	long leg	$536K	$458K	—
GMX CAKE/USD [WBTC.b-USDC]	L +0.0417% / S −0.0269%	1h	2.5233	+0.166%	$37K	—	100x	as long as short
Kraken Futures PF_CAKEUSD	+0.0830%	1h	2.5257	+0.263%	$54K	$37K	10x	as long as short