Funding you earn now, next payment 23:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.023%
Price spread now: Binance against Injective+0.098%97s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.079%+$8 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 +$2 a day on $10k at the current rate, and Binance is 0.098% dearer against Injective than usual: you sell high and buy low: +$10 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 97 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 | Injective CAKE/USDC PERP | 2.5440 | 0.0033 | pay 0.0004% / 1h | 55m 44s | $113 | $52K | 5.5x |
| Short | Binance CAKEUSDT | 2.5465 | 0.0100 | get 0.0050% / 4h | 1h 55m | $18.3M | $38.5M | 75x |
Injective CAKE/USDC PERP
Binance CAKEUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Injective. 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: +0.098% → 0.000%
- $9.8
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- $13.78
- Costs to cover
- 0.100%
- Break-even
- 0.1 days
Slippage unknown: Injective: no order-book sample; Binance: live order book, 1 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 Injective no order-book sample | — | — | — | — | — |
| Sell Binance live order book, 1 min ago | 0.59 bp | 10.3 bp −$10 | 22.1 bp −$221 | 119.3 bp −$11.9K | doesn't fit |
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 | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_CAKE_USDC | +0.0015% | 4h | 2.5454 | +0.055% | $7K | $14K | 10x | as long as short |
| Injective CAKE/USDC PERPlong | +0.0033% | 1h | 2.5440 | long leg | $113 | $52K | 5.5x | |
| Hyperliquid CAKE | +0.0100% | 1h | 2.5495 | +0.218% | $3.2M | $3.3M | 3x | as long as short |
| Aster CAKEUSDT | +0.0100% | 4h | 2.5466 | +0.103% | $2.4M | $89K | 10x | as long as short |
| Binance CAKEUSDTshort | +0.0100% | 4h | 2.5465 | +0.098% | $18.3M | $38.5M | 75x | |
| Bybit CAKEUSDT | +0.0100% | 4h | 2.5450 | +0.039% | $5.3M | $4.1M | 50x | as long as short |
| Gate CAKE_USDT | +0.0100% | 4h | 2.5454 | +0.055% | $888K | $761K | 75x | as long as short |
| MEXC CAKE_USDT | +0.0100% | 4h | 2.5463 | +0.090% | $14.2M | $2.8M | 125x | as long as short |
| KuCoin CAKEUSDTM | +0.0100% | 4h | 2.5472 | +0.126% | $2.5M | $5.7M | 50x | as long as short |
| Bitget CAKEUSDT | +0.0100% | 4h | 2.5474 | +0.134% | $2.7M | $2.8M | 75x | as long as short |
Orderly PERP_CAKE_USDC
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 | +0.086% | — | $3.5M | — | as long as short |
| Variational Omni CAKE | +0.0100% | 4h | 2.5434 | −0.023% | $542K | $491K | — | as long as short |
| ApeX Omni CAKEUSDT | +0.0100% | 1h | 2.5443 | +0.012% | $13K | $697K | 50x | as long as short |
| BloFin CAKE-USDT | +0.0104% | 4h | 2.5430 | −0.039% | $995K | $355K | 75x | as long as short |
| GMX CAKE/USD [WBTC.b-USDC] | L +0.0420% / S −0.0272% | 1h | 2.5461 | +0.082% | $38K | — | 100x | as long as short |
| Kraken Futures PF_CAKEUSD | +0.0773% | 1h | 2.5582 | +0.559% | $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