Funding you earn now, next payment 22:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.023%
Price spread now: Injective against Binance−0.086%57s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.079%−$8 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 0.086% cheaper against Binance than usual: you would sell low and buy high (−$9 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance CAKEUSDT | 2.5462 | 0.0100 | pay 0.0050% / 4h | 2h 40m | $18.2M | $38.9M | 75x |
| Short | Injective CAKE/USDC PERP | 2.5440 | 0.0033 | get 0.0004% / 1h | 40m 19s | $113 | $52K | 5.5x |
Binance CAKEUSDT
Injective CAKE/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective against Binance. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$14
- Price spread: −0.086% → 0.000%
- −$8.64
- Slippage, 4 orders
- no order book: not counted
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$32.66
- Costs to cover
- 0.100%
- Break-even
- never at this rate
Slippage unknown: Binance: live order book, 2 min ago; Injective: no order-book sample. Net counts fees only.
Cost to enter
taker fee + slippage from the mid, one side; closing costs about the same again| Leg | Half-spread | $10k | $100k | $1M | $5M |
|---|---|---|---|---|---|
| Buy Binance live order book, 2 min ago | 0.20 bp | 10.6 bp −$11 | 27.8 bp −$278 | doesn't fit | doesn't fit |
| Sell Injective no order-book sample | — | — | — | — | — |
Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
CAKE on 16 venues
lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_CAKE_USDC | +0.0006% | 4h | 2.5464 | +0.008% | $7K | $14K | 10x | as long as short |
| Injective CAKE/USDC PERPshort | +0.0033% | 1h | 2.5440 | −0.086% | $113 | $52K | 5.5x | |
| Hyperliquid CAKE | +0.0100% | 1h | 2.5503 | +0.161% | $3.1M | $3.3M | 3x | as long as short |
| Aster CAKEUSDT | +0.0100% | 4h | 2.5471 | +0.034% | $2.4M | $99K | 10x | as long as short |
| Binance CAKEUSDTlong | +0.0100% | 4h | 2.5462 | long leg | $18.2M | $38.9M | 75x | |
| Bybit CAKEUSDT | +0.0100% | 4h | 2.5450 | −0.047% | $5.3M | $4.1M | 50x | as long as short |
| Gate CAKE_USDT | +0.0100% | 4h | 2.5446 | −0.063% | $887K | $858K | 75x | as long as short |
| MEXC CAKE_USDT | +0.0100% | 4h | 2.5463 | +0.004% | $14.2M | $2.9M | 125x | as long as short |
| KuCoin CAKEUSDTM | +0.0100% | 4h | 2.5467 | +0.020% | $2.5M | $5.7M | 50x | as long as short |
| Bitget CAKEUSDT | +0.0100% | 4h | 2.5463 | +0.004% | $2.7M | $2.9M | 75x | as long as short |
Orderly PERP_CAKE_USDC
Hyperliquid CAKE
Aster CAKEUSDT
Bybit CAKEUSDT
Gate CAKE_USDT
MEXC CAKE_USDT
KuCoin CAKEUSDTM
Bitget CAKEUSDTShow all 16 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX CAKE-USDT | +0.0100% | 4h | 2.5465 | +0.012% | — | $3.5M | — | as long as short |
| Variational Omni CAKE | +0.0100% | 4h | 2.5450 | −0.047% | $544K | $497K | — | as long as short |
| ApeX Omni CAKEUSDT | +0.0100% | 1h | 2.5457 | −0.020% | $13K | $696K | 50x | as long as short |
| BloFin CAKE-USDT | +0.0146% | 4h | 2.5450 | −0.047% | $995K | $351K | 75x | as long as short |
| GMX CAKE/USD [WBTC.b-USDC] | L +0.0420% / S −0.0272% | 1h | 2.5470 | +0.033% | $38K | — | 100x | as long as short |
| Kraken Futures PF_CAKEUSD | +0.0497% | 1h | 2.5482 | +0.079% | $56K | $38K | 10x | as long as short |
BingX CAKE-USDT
Variational Omni CAKE
ApeX Omni CAKEUSDT
BloFin CAKE-USDT
GMX CAKE/USD [WBTC.b-USDC]
Kraken Futures PF_CAKEUSD