Funding you earn now, next payment 21:00 UTC−0.0097%/8h= −10.6% APRpaid last 24h −0.025%
Price spread now: Orderly against Hyperliquid−0.137%7-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—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories
Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Orderly is 0.137% cheaper against Hyperliquid than usual: you would sell low and buy high (−$14 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid CAKE | 2.5540 | 0.0100 | pay 0.0013% / 1h | 4m 07s | $3.1M | $3.4M | 3x |
| Short | Orderly PERP_CAKE_USDC | 2.5505 | 0.0003 | get 0.0002% / 4h | 3h 04m | $7K | $15K | 10x |
Hyperliquid CAKE
Orderly PERP_CAKE_USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly against Hyperliquid. 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
- −$20.33
- Price spread: −0.137% → 0.000%
- −$13.7
- Slippage, 4 orders
- no order book: not counted
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- −$49.03
- Costs to cover
- 0.150%
- Break-even
- never at this rate
Slippage unknown: Hyperliquid: live order book, 7 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 Hyperliquid live order book, 7 min ago | 1.76 bp | doesn't fit | doesn't fit | 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 | +0.0003% | 4h | 2.5505 | −0.137% | $7K | $15K | 10x | |
| Injective CAKE/USDC PERP | +0.0033% | 1h | 2.5440 | −0.392% | $113 | $52K | 5.5x | as long as short |
| Hyperliquid CAKElong | +0.0100% | 1h | 2.5540 | long leg | $3.1M | $3.4M | 3x | |
| Aster CAKEUSDT | +0.0100% | 4h | 2.5517 | −0.091% | $2.4M | $111K | 10x | as long as short |
| Binance CAKEUSDT | +0.0100% | 4h | 2.5498 | −0.166% | $18.3M | $40.6M | 75x | as long as short |
| Bybit CAKEUSDT | +0.0100% | 4h | 2.5487 | −0.208% | $5.3M | $4.2M | 50x | as long as short |
| Gate CAKE_USDT | +0.0100% | 4h | 2.5488 | −0.204% | $887K | $899K | 75x | as long as short |
| MEXC CAKE_USDT | +0.0100% | 4h | 2.5498 | −0.164% | $14.3M | $3.0M | 125x | as long as short |
| KuCoin CAKEUSDTM | +0.0100% | 4h | 2.5508 | −0.125% | $2.5M | $5.8M | 50x | as long as short |
| Bitget CAKEUSDT | +0.0100% | 4h | 2.5495 | −0.176% | $2.7M | $3.1M | 75x | as long as short |
Injective CAKE/USDC PERP
Aster CAKEUSDT
Binance 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 | 2.5498 | −0.164% | — | $3.5M | — | as long as short |
| Variational Omni CAKE | +0.0100% | 4h | 2.5516 | −0.095% | $545K | $501K | — | as long as short |
| ApeX Omni CAKEUSDT | +0.0100% | 1h | 2.5518 | −0.086% | $13K | $694K | 50x | as long as short |
| BloFin CAKE-USDT | +0.0134% | 4h | 2.5516 | −0.094% | $998K | $340K | 75x | as long as short |
| Kraken Futures PF_CAKEUSD | +0.0396% | 1h | 2.5524 | −0.063% | $57K | $42K | 10x | as long as short |
| GMX CAKE/USD [WBTC.b-USDC] | L +0.0420% / S −0.0272% | 1h | 2.5510 | −0.116% | $38K | — | 100x | as long as short |
BingX CAKE-USDT
Variational Omni CAKE
ApeX Omni CAKEUSDT
BloFin CAKE-USDT
Kraken Futures PF_CAKEUSD
GMX CAKE/USD [WBTC.b-USDC]