CAKE Funding Rate — live across 9 venues
25 DEX + 8 CEX · net of fees · updated continuously
Live annualized CAKE perpetual funding across all 9 venues Perpia tracks. Right now CAKE funding is positive on 4 and negative on 5, ranging from +10.9% on Bybit to -96.1% on Hyperliquid — a spread of 107.0%. The widest delta-neutral trade is long Hyperliquid / short Bybit at 104.2% net APR.
CAKE funding rate by venue
26 pairs scanned| Venue | Funding APR | Interval |
|---|---|---|
| Bybit | +10.9% | 4h |
| Variational | +10.9% | 4h |
| Gate.io | +8.3% | 4h |
| Bitget | +6.6% | 4h |
| MEXC | -8.9% | 8h |
| Binance | -8.9% | 8h |
| BingX | -16.9% | 4h |
| KuCoin | -60.4% | 4h |
| Hyperliquid | -96.1% | 1h |
Rates annualized; updated ~every few minutes from live venue data.
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CAKE funding — FAQ
Is CAKE funding positive right now?
CAKE perpetual funding is positive on 4 of 9 venues Perpia tracks and negative on 5. The highest is +10.9% on Bybit; the lowest is -96.1% on Hyperliquid.
What is the best CAKE funding arbitrage right now?
Go long Hyperliquid and short Bybit for about 104.2% 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-rate arbitrage is delta-neutral: you go long the venue paying the most negative funding and short the one paying the most positive, so price moves cancel and you collect the spread. The catch is liquidity — a huge APR on a thin book caps at a few thousand dollars and often flips within hours. Perpia shows the max size after slippage and tracks whether a spread holds, so you filter instead of chasing the number.