CAKE

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0317%/8h= −34.7% APRnext payment −$0.40 per $10,000 · paid last 24h −0.087%

Price spread now: Hyperliquid against GMX+0.029%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on GMX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories

The price spread pays, funding is against you. Hyperliquid is 0.029% dearer against GMX than usual: you sell high and buy low (spread +0.029% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 7 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX CAKE/USD [WBTC.b-USDC]	2.5168	L +0.0417% / S −0.0269%	pay 0.0052% / 1h	11m 38s	$37K	—	100x
Short	Hyperliquid CAKE	2.5175	0.0100	get 0.0013% / 1h	11m 38s	$3.1M	$2.6M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against GMX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee GMXbpFee HyperliquidbpOrdersPrice spread, now +0.029%Rate

Funding earned: −$66.48
Price spread: +0.029% → 0.000%: $2.87
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$84.61
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Hyperliquid: live order book, 10 min ago. 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 GMX no order-book sample	—	—	—	—	—
Sell Hyperliquid live order book, 10 min ago	0.99 bp	10.0 bp −$10	doesn't fit	doesn't fit	doesn't fit

GMX: 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 15 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	+0.0013%	4h	2.5156	−0.047%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	+1.082%	$113	$52K	5.5x	as long as short
Hyperliquid CAKEshort	+0.0100%	1h	2.5175	+0.029%	$3.1M	$2.6M	3x
Aster CAKEUSDT	+0.0100%	4h	2.5168	0.000%	$2.4M	$76K	10x	as long as short
Binance CAKEUSDT	+0.0100%	4h	2.5158	−0.039%	$18.0M	$33.8M	75x	as long as short
Bybit CAKEUSDT	+0.0100%	4h	2.5140	−0.110%	$5.3M	$3.7M	50x	as long as short
Gate CAKE_USDT	+0.0100%	4h	2.5136	−0.126%	$876K	$673K	75x	as long as short
MEXC CAKE_USDT	+0.0100%	4h	2.5155	−0.051%	$13.7M	$2.9M	125x	as long as short
KuCoin CAKEUSDTM	+0.0100%	4h	2.5162	−0.023%	$2.4M	$5.5M	50x	as long as short
Bitget CAKEUSDT	+0.0100%	4h	2.5164	−0.015%	$2.6M	$2.5M	75x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX CAKE-USDT	+0.0100%	4h	2.5145	−0.091%	—	$3.6M	—	as long as short
Variational Omni CAKE	+0.0100%	4h	2.5110	−0.228%	$535K	$458K	—	as long as short
ApeX Omni CAKEUSDT	+0.0100%	1h	2.5159	−0.035%	$11K	$683K	50x	as long as short
GMX CAKE/USD [WBTC.b-USDC]long	L +0.0417% / S −0.0269%	1h	2.5168	long leg	$37K	—	100x
Kraken Futures PF_CAKEUSD	+0.0833%	1h	2.5161	−0.025%	$54K	$37K	10x	as long as short