Funding you earn now, next payment 00:00 UTC−0.0085%/8h= −9.3% APRnext payment −$0.43 per $10,000 · paid last 24h −0.010%
Price spread now: Orderly against Binance−0.129%49s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 5 days (all we have)—no history yet
+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 −$3 a day on $10k at the current rate, and Orderly is 0.129% cheaper against Binance than usual: you would sell low and buy high (−$13 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 49 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 | 2.5487 | 0.0100 | pay 0.0050% / 4h | 1h 55m | $18.3M | $38.5M | 75x |
| Short | Orderly PERP_CAKE_USDC | 2.5454 | 0.0015 | get 0.0007% / 4h | 1h 55m | $7K | $14K | 10x |
Binance CAKEUSDT
Orderly PERP_CAKE_USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly 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
- −$17.93
- Price spread: −0.129% → 0.000%
- −$12.94
- Slippage, 4 orders
- no order book: not counted
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- −$46.87
- Costs to cover
- 0.160%
- Break-even
- never at this rate
Slippage unknown: Binance: live order book, 1 min ago; Orderly: 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, 1 min ago | 0.59 bp | 10.7 bp −$11 | 31.8 bp −$318 | doesn't fit | doesn't fit |
| Sell Orderly no order-book sample | — | — | — | — | — |
Orderly: 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_USDCshort | +0.0015% | 4h | 2.5454 | −0.129% | $7K | $14K | 10x | |
| Injective CAKE/USDC PERP | +0.0033% | 1h | 2.5440 | −0.184% | $113 | $52K | 5.5x | as long as short |
| Hyperliquid CAKE | +0.0100% | 1h | 2.5511 | +0.094% | $3.2M | $3.3M | 3x | as long as short |
| Aster CAKEUSDT | +0.0100% | 4h | 2.5465 | −0.086% | $2.4M | $89K | 10x | as long as short |
| Binance CAKEUSDTlong | +0.0100% | 4h | 2.5487 | long leg | $18.3M | $38.5M | 75x | |
| Bybit CAKEUSDT | +0.0100% | 4h | 2.5460 | −0.106% | $5.3M | $4.1M | 50x | as long as short |
| Gate CAKE_USDT | +0.0100% | 4h | 2.5454 | −0.129% | $888K | $761K | 75x | as long as short |
| MEXC CAKE_USDT | +0.0100% | 4h | 2.5483 | −0.016% | $14.2M | $2.8M | 125x | as long as short |
| KuCoin CAKEUSDTM | +0.0100% | 4h | 2.5472 | −0.059% | $2.5M | $5.7M | 50x | as long as short |
| Bitget CAKEUSDT | +0.0100% | 4h | 2.5489 | +0.008% | $2.7M | $2.8M | 75x | as long as short |
Injective CAKE/USDC PERP
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 | 2.5462 | −0.098% | — | $3.5M | — | as long as short |
| Variational Omni CAKE | +0.0100% | 4h | 2.5434 | −0.207% | $542K | $491K | — | as long as short |
| ApeX Omni CAKEUSDT | +0.0100% | 1h | 2.5435 | −0.204% | $13K | $698K | 50x | as long as short |
| BloFin CAKE-USDT | +0.0104% | 4h | 2.5430 | −0.224% | $995K | $355K | 75x | as long as short |
| GMX CAKE/USD [WBTC.b-USDC] | L +0.0420% / S −0.0272% | 1h | 2.5461 | −0.103% | $38K | — | 100x | as long as short |
| Kraken Futures PF_CAKEUSD | +0.0773% | 1h | 2.5582 | +0.374% | $57K | $37K | 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