Funding you earn now, next payment 00:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.023%
Price spread now: Injective against Bybit−0.325%108s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.109%+$11 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 0.325% cheaper against Bybit than usual: you would sell low and buy high (−$33 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.109%, so the current rate has only just turned against you. The two prices were read 108 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 | Bybit CAKEUSDT | 2.5523 | 0.0100 | pay 0.0050% / 4h | 33m 28s | $5.3M | $3.9M | 50x |
| Short | Injective CAKE/USDC PERP | 2.5440 | 0.0033 | get 0.0004% / 1h | 33m 28s | $113 | $52K | 5.5x |
Bybit CAKEUSDT
Injective CAKE/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective against Bybit. 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: −0.325% → 0.000%
- −$32.52
- Slippage, 4 orders
- no order book: not counted
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$57.54
- Costs to cover
- 0.110%
- Break-even
- never at this rate
Slippage unknown: Bybit: live order book, 4 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 Bybit live order book, 4 min ago | 3.91 bp | 22.9 bp −$23 | 50.0 bp −$500 | 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 | |
|---|---|---|---|---|---|---|---|---|
| ApeX Omni CAKEUSDT | −0.0054% | 1h | 2.5520 | −0.012% | $13K | $697K | 50x | as long as short |
| Orderly PERP_CAKE_USDC | +0.0027% | 4h | 2.5536 | +0.051% | $7K | $14K | 10x | as long as short |
| Injective CAKE/USDC PERPshort | +0.0033% | 1h | 2.5440 | −0.325% | $113 | $52K | 5.5x | |
| BloFin CAKE-USDT | +0.0046% | 4h | 2.5528 | +0.020% | $1.0M | $364K | 75x | as long as short |
| Hyperliquid CAKE | +0.0100% | 1h | 2.5579 | +0.219% | $3.2M | $2.7M | 3x | as long as short |
| Aster CAKEUSDT | +0.0100% | 4h | 2.5556 | +0.130% | $2.4M | $80K | 10x | as long as short |
| Binance CAKEUSDT | +0.0100% | 4h | 2.5534 | +0.043% | $18.3M | $36.2M | 75x | as long as short |
| Bybit CAKEUSDTlong | +0.0100% | 4h | 2.5523 | long leg | $5.3M | $3.9M | 50x | |
| Gate CAKE_USDT | +0.0100% | 4h | 2.5529 | +0.024% | $891K | $753K | 75x | as long as short |
| MEXC CAKE_USDT | +0.0100% | 4h | 2.5533 | +0.039% | $14.2M | $2.8M | 125x | as long as short |
ApeX Omni CAKEUSDT
Orderly PERP_CAKE_USDC
BloFin CAKE-USDT
Hyperliquid CAKE
Aster CAKEUSDT
Binance CAKEUSDT
Gate CAKE_USDT
MEXC CAKE_USDTShow all 16 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin CAKEUSDTM | +0.0100% | 4h | 2.5539 | +0.063% | $2.5M | $5.6M | 50x | as long as short |
| Bitget CAKEUSDT | +0.0100% | 4h | 2.5548 | +0.098% | $2.7M | $2.7M | 75x | as long as short |
| BingX CAKE-USDT | +0.0100% | 4h | 2.5533 | +0.039% | — | $3.6M | — | as long as short |
| Variational Omni CAKE | +0.0100% | 4h | 2.5532 | +0.036% | $536K | $480K | — | as long as short |
| GMX CAKE/USD [WBTC.b-USDC] | L +0.0421% / S −0.0272% | 1h | 2.5549 | +0.103% | $38K | — | 100x | as long as short |
| Kraken Futures PF_CAKEUSD | +0.0750% | 1h | 2.5606 | +0.324% | $55K | $39K | 10x | as long as short |
KuCoin CAKEUSDTM
Bitget CAKEUSDT
BingX CAKE-USDT
Variational Omni CAKE
GMX CAKE/USD [WBTC.b-USDC]
Kraken Futures PF_CAKEUSD