Funding you earn now, next payment 10:00 UTC+0.0207%/8h= +22.7% APRpaid last 24h −0.019%
Price spread now: Injective against BingX+1.298%72s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.056%+$6 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Injective is 1.298% dearer against BingX than usual: you sell high and buy low: +$130 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 72 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.056% in total (about 2.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | BingX CAKE-USDT | 2.5114 | −0.0174 | get 0.0087% / 4h | 2h 22m | — | $4.2M | — |
| Short | Injective CAKE/USDC PERP | 2.5440 | 0.0033 | get 0.0004% / 1h | 22m 01s | $113 | $52K | 5.5x |
BingX CAKE-USDT
Injective CAKE/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective against BingX. 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
- $43.54
- Price spread: +1.298% → 0.000%
- $129.81
- Slippage, 4 orders
- no order book: not counted
- Fee BingX: 5 bp × 2 orders
- −$10
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- $163.33
- Costs to cover
- 0.100%
- Break-even
- from the start
Slippage unknown: BingX: live order book, 6 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 BingX live order book, 6 min ago | 0.40 bp | 5.4 bp −$5 | 5.4 bp −$54 | 20.6 bp −$2,063 | 46.5 bp −$23.2K |
| 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 exchanges
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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_CAKEUSD | −0.0534% | 1h | 2.5142 | +0.113% | $56K | $49K | 10x | as long as short |
| Variational Omni CAKE | −0.0443% | 4h | 2.5060 | −0.216% | $516K | $413K | — | as long as short |
| BingX CAKE-USDTlong | −0.0174% | 4h | 2.5114 | long leg | — | $4.2M | — | |
| Bybit CAKEUSDT | −0.0136% | 4h | 2.5128 | +0.056% | $5.4M | $3.0M | 50x | as long as short |
| Orderly PERP_CAKE_USDC | −0.0109% | 4h | 2.5125 | +0.044% | $7K | $13K | 10x | as long as short |
| Aster CAKEUSDT | −0.0010% | 4h | 2.5128 | +0.056% | $2.3M | $162K | 10x | as long as short |
| Injective CAKE/USDC PERPshort | +0.0033% | 1h | 2.5440 | +1.298% | $113 | $52K | 5.5x | |
| ApeX Omni CAKEUSDT | +0.0071% | 1h | 2.5089 | −0.100% | $11K | $669K | 50x | as long as short |
| BloFin CAKE-USDT | +0.0093% | 4h | 2.5054 | −0.239% | $1.0M | $309K | 75x | as long as short |
| Hyperliquid CAKE | +0.0100% | 1h | 2.5142 | +0.111% | $3.1M | $1.3M | 3x | as long as short |
Kraken Futures PF_CAKEUSD
Variational Omni CAKE
Bybit CAKEUSDT
Orderly PERP_CAKE_USDC
Aster CAKEUSDT
ApeX Omni CAKEUSDT
BloFin CAKE-USDT
Hyperliquid CAKEShow all 16 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance CAKEUSDT | +0.0100% | 4h | 2.5117 | +0.013% | $17.6M | $25.8M | 75x | as long as short |
| Gate CAKE_USDT | +0.0100% | 4h | 2.5095 | −0.076% | $898K | $514K | 75x | as long as short |
| MEXC CAKE_USDT | +0.0100% | 4h | 2.5124 | +0.040% | $15.7M | $2.7M | 125x | as long as short |
| KuCoin CAKEUSDTM | +0.0100% | 4h | 2.5120 | +0.024% | $2.5M | $5.2M | 50x | as long as short |
| Bitget CAKEUSDT | +0.0100% | 4h | 2.5123 | +0.036% | $2.6M | $2.0M | 75x | as long as short |
| GMX CAKE/USD [WBTC.b-USDC] | L +0.0380% / S −0.0214% | 1h | 2.5136 | +0.087% | $37K | — | 100x | as long as short |
Binance CAKEUSDT
Gate CAKE_USDT
MEXC CAKE_USDT
KuCoin CAKEUSDTM
Bitget CAKEUSDT
GMX CAKE/USD [WBTC.b-USDC]