Funding you earn now, next payment 07:00 UTC−0.0277%/8h= −30.3% APRpaid last 24h +0.019%
Price spread now: Bybit against Injective−1.690%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.094%−$9 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 −$8 a day on $10k at the current rate, and Bybit is 1.690% cheaper against Injective than usual: you would sell low and buy high (−$169 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.094% in total (about -4.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| 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 | 8m 41s | $113 | $52K | 5.5x |
| Short | Bybit CAKEUSDT | 2.5010 | −0.0244 | pay 0.0122% / 4h | 1h 08m | $5.2M | $3.3M | 50x |
Injective CAKE/USDC PERP
Bybit CAKEUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit 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
- −$58.19
- Price spread: −1.690% → 0.000%
- −$169.03
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$238.23
- Costs to cover
- 0.110%
- Break-even
- never at this rate
Slippage unknown: Injective: no order-book sample; Bybit: live order book, 4 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 Bybit live order book, 4 min ago | 2.00 bp | 30.0 bp −$30 | 52.7 bp −$527 | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| Bybit CAKEUSDTshort | −0.0244% | 4h | 2.5010 | −1.690% | $5.2M | $3.3M | 50x | |
| Orderly PERP_CAKE_USDC | −0.0108% | 4h | 2.5022 | −1.643% | $7K | $14K | 10x | as long as short |
| Variational Omni CAKE | −0.0105% | 4h | 2.4990 | −1.767% | $513K | $414K | — | as long as short |
| KuCoin CAKEUSDTM | −0.0062% | 4h | 2.5027 | −1.623% | $2.4M | $5.2M | 50x | as long as short |
| ApeX Omni CAKEUSDT | −0.0041% | 1h | 2.5020 | −1.651% | $11K | $675K | 50x | as long as short |
| Injective CAKE/USDC PERPlong | +0.0033% | 1h | 2.5440 | long leg | $113 | $52K | 5.5x | |
| BloFin CAKE-USDT | +0.0052% | 4h | 2.5012 | −1.682% | $990K | $313K | 75x | as long as short |
| MEXC CAKE_USDT | +0.0084% | 4h | 2.5018 | −1.659% | $13.4M | $2.7M | 125x | as long as short |
| Binance CAKEUSDT | +0.0088% | 4h | 2.5018 | −1.659% | $17.7M | $29.1M | 75x | as long as short |
| Hyperliquid CAKE | +0.0100% | 1h | 2.5046 | −1.549% | $3.1M | $1.8M | 3x | as long as short |
Orderly PERP_CAKE_USDC
Variational Omni CAKE
KuCoin CAKEUSDTM
ApeX Omni CAKEUSDT
BloFin CAKE-USDT
MEXC CAKE_USDT
Binance CAKEUSDT
Hyperliquid CAKEShow all 16 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster CAKEUSDT | +0.0100% | 4h | 2.5040 | −1.574% | $2.4M | $77K | 10x | as long as short |
| Gate CAKE_USDT | +0.0100% | 4h | 2.5015 | −1.671% | $879K | $597K | 75x | as long as short |
| Bitget CAKEUSDT | +0.0100% | 4h | 2.5039 | −1.576% | $2.5M | $2.1M | 75x | as long as short |
| BingX CAKE-USDT | +0.0100% | 4h | 2.5022 | −1.643% | — | $3.8M | — | as long as short |
| Kraken Futures PF_CAKEUSD | +0.0379% | 1h | 2.5074 | −1.439% | $52K | $33K | 10x | as long as short |
| GMX CAKE/USD [WBTC.b-USDC] | L +0.0416% / S −0.0269% | 1h | 2.5017 | −1.661% | $37K | — | 100x | as long as short |
Aster CAKEUSDT
Gate CAKE_USDT
Bitget CAKEUSDT
BingX CAKE-USDT
Kraken Futures PF_CAKEUSD
GMX CAKE/USD [WBTC.b-USDC]