Funding arb · Price arb /

CAKE

all CAKE markets

Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Gate against Variational Omni+0.088%7-day average +0.005% · you sell dearer than you buy

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

Long on Variational Omni Short on Gate

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.037%+$4 on $10k

Price spread, last 3 days (all we have)−0.125%−$12 · spread now +0.088%, 7d avg +0.005%

Together, before fees−0.088%+ Points / potential airdropVariational Omni: Active · farm board−$9 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: Gate is 0.083% 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 +0.005%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni CAKE	2.5462	0.0100	pay 0.0050% / 4h	2m 53s	$534K	$469K	—
Short	Gate CAKE_USDT	2.5484	0.0100	get 0.0050% / 4h	2m 53s	$890K	$756K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.088%Rate

Funding earned: $0
Price spread: +0.088% → +0.005%: $8.33
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$6.67
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 11 min ago; Gate: live order book, 9 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, 11 min ago	4.66 bp	doesn't fit	51.5 bp −$515	doesn't fit	doesn't fit
Sell Gate live order book, 9 min ago	3.73 bp	30.5 bp −$30	86.3 bp −$863	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
ApeX Omni CAKEUSDT	−0.0100%	1h	2.5494	+0.127%	$13K	$697K	50x	as long as short
Orderly PERP_CAKE_USDC	+0.0021%	4h	2.5489	+0.108%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	−0.085%	$113	$52K	5.5x	as long as short
BloFin CAKE-USDT	+0.0087%	4h	2.5503	+0.163%	$997K	$363K	75x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5516	+0.214%	$3.2M	$2.7M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.5507	+0.177%	$2.4M	$78K	10x	as long as short
Binance CAKEUSDT	+0.0100%	4h	2.5484	+0.088%	$18.3M	$36.0M	75x	as long as short
Bybit CAKEUSDT	+0.0100%	4h	2.5472	+0.041%	$5.3M	$3.9M	50x	as long as short
Gate CAKE_USDTshort	+0.0100%	4h	2.5484	+0.088%	$890K	$756K	75x
MEXC CAKE_USDT	+0.0100%	4h	2.5486	+0.096%	$14.2M	$2.8M	125x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin CAKEUSDTM	+0.0100%	4h	2.5492	+0.120%	$2.5M	$5.6M	50x	as long as short
Bitget CAKEUSDT	+0.0100%	4h	2.5498	+0.143%	$2.7M	$2.6M	75x	as long as short
BingX CAKE-USDT	+0.0100%	4h	2.5485	+0.092%	—	$3.6M	—	as long as short
Variational Omni CAKElong	+0.0100%	4h	2.5462	long leg	$534K	$469K	—
GMX CAKE/USD [WBTC.b-USDC]	L +0.0421% / S −0.0272%	1h	2.5497	+0.140%	$38K	—	100x	as long as short
Kraken Futures PF_CAKEUSD	+0.0751%	1h	2.5586	+0.489%	$55K	$39K	10x	as long as short