CAKE Funding Rate — live across 10 venues
Perpetual funding · compared across 10 venues · net of estimated fees · updated every few minutesLive annualized CAKE perpetual funding across all 10 venues Perpia tracks. Right now CAKE funding is positive on 6 and negative on 4, ranging from +10.9% on Bybit to -38.3% on KuCoin — a spread of 49.3%. The widest delta-neutral trade is long KuCoin / short Bybit at 45.6% net APR.
CAKE funding trend & liquidity
167h of historyAverages are historical funding over the window shown. A current rate near the 7-day average may indicate the spread has persisted; a rate far above it is usually a short-lived spike. OI and volume are the smaller (binding) leg of the best pair — the ceiling on tradeable size.
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Build a route
any two of the 10 venuesThis is the widest route right now. The number is gross: fees, the entry spread and slippage are not in it, and both legs must be tradeable for you. The scanner carries the same pairs net of costs.
Venues: pick the two legs
sorted by rate · 10 venues| Venue | Funding APR ↓ | Interval | Use as |
|---|---|---|---|
| Bybit↗short | +10.9% | every 4h | |
| Variational↗ | +10.9% | every 4h | |
| Aster↗ | +10.9% | every 4h | |
| Hyperliquid↗ | +10.9% | every 1h | |
| Gate.io↗ | +5.3% | every 4h | |
| Bitget↗ | +5.3% | every 4h | |
| below — these venues pay the longs: this is the leg you buy | |||
| BingX↗ | −5.5% | every 4h | |
| MEXC↗ | −5.7% | every 4h | |
| Binance↗ | −5.7% | every 4h | |
| KuCoin↗long | −38.3% | every 4h | |
Rates annualized; updated ~every few minutes from live venue data. Venue names link to that exchange's full funding table; ↗ opens the market on the exchange itself. Every spread between these two venues is on the KuCoin vs Bybit page. 33 pairs scanned for CAKE.
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CAKE — FAQ
Is CAKE funding positive right now?
CAKE perpetual funding is positive on 6 of 10 venues Perpia tracks and negative on 4. The highest is +10.9% on Bybit; the lowest is -38.3% on KuCoin.
What is the best CAKE funding arbitrage right now?
Go long KuCoin and short Bybit for about 45.6% net APR after fees — the widest delta-neutral CAKE spread Perpia currently sees.
Which exchange has the highest CAKE funding rate?
Bybit, at +10.9% annualized. Funding shifts continuously, so check the live table above before trading.
How CAKE funding arbitrage works
Funding arbitrage combines opposing positions on two venues — long the one paying the most negative funding, short the one paying the most positive — to reduce directional exposure and capture the difference between their funding payments. Fees, slippage, basis divergence and liquidation risk can reduce the result. See the methodology for how it is measured and the guide for the full walkthrough.
Markets related to CAKE
also quoted on both Bybit and KuCoinThe same two exchanges you would already have funded for the CAKE trade. Every spread between them is on the Bybit vs KuCoin page.