Caphyae or Kaphyai (Ancient Greek: Καφύαι) was a city of ancient Arcadia situated in a small plain, northwest of the lake of Orchomenus. It was protected against inundations from this lake by a mound or dyke, raised by the inhabitants of Caphyae. The city is said to have been founded by King Cepheus of Tegea, the son of Aleus, and pretended to be of Athenian origin. Its site is located near the modern .