◈   real vs reported volume · 30-day median

Where to trade CAKE

Same coin, different tapes. We rank the venues that list CAKE by how much of their reported volume is actually real — so you trade where the book isn't faked.

Soli's reading
Binance runs the cleanest CAKE tape — 81% honest on $7.8M real volume. Trust the prints.
#1
Binance
Binance
spot + futures · 2 pairs
81% honest
$7.8Mreal / $9.7M claimed
Trade on Binance →
#2
Bybit
Bybit
spot + futures · 2 pairs
82% honest
$901kreal / $1.1M claimed
Trade on Bybit →
#3
Bitget
Bitget
futures · 1 pairs
77% honest
$318kreal / $416k claimed
Trade on Bitget →
#4
Coinbase
Coinbase
spot · 1 pairs
60% honest
$56kreal / $93k claimed
Trade on Coinbase →
◈ how we score it

Honesty = estimated real volume ÷ reported volume for CAKE on each venue, from five trade-tape fingerprints (timing, Benford, self-trade pairing, price-impact, size entropy). Pick the venue with the deepest real book, not the loudest reported number. How to buy CAKE → · how to sell CAKE → · full venue ranking → · compare two venues →