ArbiLayer

CAKE arbitrage

live

Live PancakeSwap price differences between exchanges: perpetual, spot and DEX spreads after fees, with funding and depth.

Best net spread-0.09%Variational → KuCoin · Perp–Perp
Best perp–perp spread+0.07%Variational → KuCoin
Markets tracked159 venues · 9 perp · 6 spot · 0 DEX
Price range0.32%$2.23 – $2.24

Spreads between exchanges

Long (buy)Short (sell)SpreadNetSpread+FDepth $Funding 24hFunding 30DD/WChart
Binance logoBinancespot$2.24KuCoin logoKuCoinspot$2.24 +0.04%-0.16% +0.04%— 0.000%— LS Chart →
Bybit logoBybitspot$2.24KuCoin logoKuCoinspot$2.24 +0.04%-0.16% +0.04%— 0.000%— LS Chart →
Bitget logoBitgetspot$2.24KuCoin logoKuCoinspot$2.24 +0.04%-0.16% +0.04%— 0.000%— LS Chart →
MEXC logoMEXCspot$2.24KuCoin logoKuCoinspot$2.24 +0.04%-0.16% +0.04%— 0.000%— LS Chart →
Gate logoGatespot$2.24KuCoin logoKuCoinspot$2.24 0.00%-0.20% 0.00%— 0.000%— LS Chart →
Binance logoBinancespot$2.24Gate logoGatespot$2.24 -0.01%-0.21% -0.01%— 0.000%— LS Chart →
Bybit logoBybitspot$2.24Gate logoGatespot$2.24 -0.01%-0.21% -0.01%— 0.000%— LS Chart →
Bitget logoBitgetspot$2.24Gate logoGatespot$2.24 -0.01%-0.21% -0.01%— 0.000%— LS Chart →
MEXC logoMEXCspot$2.24Gate logoGatespot$2.24 -0.01%-0.21% -0.01%— 0.000%— LS Chart →
Binance logoBinancespot$2.24Bybit logoBybitspot$2.24 -0.04%-0.24% -0.04%— 0.000%— LS Chart →
Binance logoBinancespot$2.24Bitget logoBitgetspot$2.24 -0.04%-0.24% -0.04%— 0.000%— LS Chart →
Binance logoBinancespot$2.24MEXC logoMEXCspot$2.24 -0.04%-0.24% -0.04%— 0.000%— LS Chart →
Bybit logoBybitspot$2.24Binance logoBinancespot$2.24 -0.04%-0.24% -0.04%— 0.000%— LS Chart →
Bybit logoBybitspot$2.24Bitget logoBitgetspot$2.24 -0.04%-0.24% -0.04%— 0.000%— LS Chart →
Bybit logoBybitspot$2.24MEXC logoMEXCspot$2.24 -0.04%-0.24% -0.04%— 0.000%— LS Chart →
Long = where you buy, Short = where you sell. Net subtracts a two-leg taker fee model; Spread+F adds the next funding payment.Updates every 15 seconds. Not investment advice.

CAKE price on every exchange

ExchangeMarketBidAskPricevs medianFunding 24hVolume 24h
KuCoin logoKuCoinPerpetual · CAKEUSDTMPerpetual $2.23$2.23$2.23+0.01% -0.052%$18.90M
Gate logoGatePerpetual · CAKE_USDTPerpetual $2.23$2.23$2.23-0.08% -0.027%$2.52M
Bybit logoBybitPerpetual · CAKEUSDTPerpetual $2.23$2.23$2.23-0.07% +0.030%$2.04M
MEXC logoMEXCPerpetual · CAKE_USDTPerpetual $2.23$2.23$2.23-0.02% +0.001%$1.06M
Bitget logoBitgetPerpetual · CAKEUSDTPerpetual $2.23$2.23$2.230.00% +0.030%$424.2K
Hyperliquid logoHyperliquidPerpetual · CAKEPerpetual $2.23$2.24$2.23-0.02% +0.030%$315.3K
Bybit logoBybitSpot · CAKEUSDTSpot $2.24$2.24$2.24+0.07% —$312.6K
Gate logoGateSpot · CAKE_USDTSpot $2.24$2.24$2.24+0.11% —$245.3K
Bitget logoBitgetSpot · CAKEUSDTSpot $2.24$2.24$2.24+0.07% —$212.0K
KuCoin logoKuCoinSpot · CAKE-USDTSpot $2.24$2.24$2.24+0.16% —$180.7K
Variational logoVariationalPerpetual · CAKEPerpetual $2.23$2.23$2.23-0.16% +0.030%$127.0K
Binance logoBinancePerpetual · CAKEUSDTPerpetual $2.23$2.23$2.23-0.02% +0.001%—
Aster logoAsterPerpetual · CAKEUSDTPerpetual $2.23$2.23$2.23-0.04% -0.100%—
Binance logoBinanceSpot · CAKEUSDTSpot $2.24$2.24$2.24+0.07% ——
MEXC logoMEXCSpot · CAKEUSDTSpot $2.24$2.24$2.24+0.07% ——
Price is the bid/ask midpoint. "vs median" compares each market with the median of all centralized venues.

CAKE arbitrage explained

Right now PancakeSwap (CAKE) trades on 9 venues we scan: 9 perpetual markets, 6 spot markets and 0 DEX pools. The lowest ask is on Variational perp at $2.23 and the highest bid on KuCoin spot at $2.24.

The widest CAKE perpetual spread is between Variational and KuCoin: long CAKE on Variational at $2.23 and short on KuCoin at $2.23 for +0.07% gross, or -0.09% after the 0.16% two-leg fee model. No transfer is needed: both positions stay on their exchanges until the prices converge. The funding difference on this pair is -0.082% per day, which the position pays while it is open.

For a spot–perpetual (cash-and-carry) trade, the best CAKE route is to buy spot on Binance and short the perpetual on KuCoin: -0.10% gross, -0.30% net, with -0.052% a day of funding on the short leg.

Spot–spot CAKE arbitrage (buy on Binance, withdraw, deposit and sell on KuCoin) shows +0.04% gross right now. It only works if withdrawals on the buying exchange and deposits on the selling exchange are open, so check the D/W dots before moving coins.

Small CAKE gaps usually disappear after fees, slippage and funding. Look at the Net column, the executable Depth and the spread history before trading: a gap that has been open for days is a different trade from a one-minute spike.

Related: CAKE funding rates · CAKE spread charts · PancakeSwap price · arbitrage scanner for all coins.

Is there a CAKE arbitrage opportunity right now?

The best CAKE route right now is to buy on Variational → sell on KuCoin (Perp–Perp): +0.07% gross and -0.09% after fees. After fees it is not profitable, which is normal for liquid coins.

Which exchange has the cheapest CAKE?

Variational (perp) has the lowest CAKE ask at $2.23, and KuCoin (spot) the highest bid at $2.24. Prices update every 15 seconds on this page.

How many exchanges list CAKE?

ArbiLayer tracks 15 CAKE markets on 9 venues: 9 perpetual, 6 spot and 0 DEX pools.

How do I arbitrage CAKE without transferring coins?

Use two perpetual contracts: go long CAKE on the cheaper exchange (Variational now) and short it on the more expensive one (KuCoin), then close both legs when the spread converges. The coins never move between exchanges.

Arbitrage for other coins

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