CAKE
PancakeSwap
Funding Rates by Exchange
| Exchange | Funding APR↓ | Interval | Open Interest↕ | Mark Price↕ |
|---|---|---|---|---|
 Extended | +11.40% | 1h | $0K | $1.2966 |
 ToobitBest Short | +11.01% | 4h | $34K | $1.4065 |
 Binance Futures | +10.96% | 4h | $6.1M | $1.3962 |
 Hyperliquid | +10.96% | 1h | $920K | $1.3976 |
 Gate.io | +10.96% | 4h | $640K | $1.4051 |
 KuCoin | +10.96% | 4h | $1.6M | $1.4073 |
 MEXC | +10.96% | 4h | $1K | $1.4079 |
 Aster | +10.96% | 4h | $1.3M | $1.4081 |
 dYdX | +10.96% | 1h | $3K | $1.3986 |
 Variational | +10.96% | 4h | $13K | $1.4064 |
 dreamcash | +10.96% | 1h | $920K | $1.3976 |
 Ventuals | +10.96% | 1h | $920K | $1.3976 |
 Kinetiq | +10.96% | 1h | $920K | $1.3976 |
 BloFin | +8.79% | 4h | $430K | $1.3983 |
 Bitget | +7.67% | 4h | $1.1M | $1.406 |
 BingX | +6.36% | 4h | $2.0M | $1.4067 |
 BitMart | -1.05% | 4h | $18.9M | $1.4083 |
 Orderly | -10.49% | 4h | $7K | $1.4074 |
 ApeX | -26.45% | 1h | $5K | $1.4023 |
 BybitBest Long | -98.97% | 4h | $2.3M | $1.3975 |
CAKE funding rates explained
Funding data updated 20:07 UTC, 2026-07-07
CAKE (PancakeSwap) perpetual futures funding rates are tracked live across 20 exchanges on ORBIT. Funding is the recurring payment exchanged between long and short traders that keeps a perpetual contract tethered to the spot price — when it is positive, longs pay shorts; when negative, shorts pay longs. Right now CAKE funding ranges from -98.97% annualized on Bybit to +11.40% on Extended.
The widest cross-exchange funding spread for CAKE is currently 110.0% APR. A delta-neutral funding trade captures this gap by going long on Bybit — where funding is lowest, so the long leg is paid or pays the least — and short on Toobit, where funding is highest, so the short leg collects. Because the two legs are equal and opposite, the asset's price moves cancel out and what is left is the funding spread. ORBIT's backtester replays the real funding history of both legs and subtracts live taker fees and order-book slippage, so the result is net PnL, not a headline number.
CAKE ranks #139 by open interest among tracked perpetual assets, total open interest across covered venues is $38.2M, 24h volume is $23.9M, the volume-weighted mark price is $1.4043. Deeper liquidity means a funding spread can be traded at larger size with lower slippage — use the Min OI filter on the screener to surface only markets you can realistically enter and exit.
Frequently asked questions
- Which exchange has the highest CAKE funding rate right now?
- Extended shows the highest CAKE funding at +11.40% annualized. A high positive rate means shorts get paid, so this is the venue to short CAKE when running a funding-arbitrage pair. Rates change every settlement window — check the live screener for the current value.
- Which exchange is best to long CAKE for funding?
- Bybit has the lowest CAKE funding at -98.97% annualized, which makes the long leg cheapest (or paid). Pair it with the highest-funding venue to capture the spread delta-neutral.
- What is the best CAKE funding-arbitrage pair?
- The widest spread is long Bybit / short Toobit at about 110.0% APR before costs. Verify it in the ORBIT backtester, which subtracts real fees and slippage, before sizing a position.