Funding you earn now, next payment 04:00 UTC+0.0067%/8h= +7.3% APRnext payment +$0.08 per $10,000 · paid last 24h +0.019%
Price spread now: Hyperliquid against Injective−1.285%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+0.070%+$7 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories
Funding pays, the price is against you. Hyperliquid is 1.285% cheaper against Injective than usual: you would sell low and buy high (spread −1.285% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$128 on $10k: about 2 months of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.070% in total) that is about 4 months.
| 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 | 57m 13s | $113 | $52K | 5.5x |
| Short | Hyperliquid CAKE | 2.5113 | 0.0100 | get 0.0013% / 1h | 57m 13s | $3.1M | $2.5M | 3x |
Injective CAKE/USDC PERP
Hyperliquid CAKEFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid 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: −1.285% → 0.000%
- −$128.46
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$123.48
- Costs to cover
- 0.090%
- Break-even
- 68.7 days
Slippage unknown: Injective: no order-book sample; Hyperliquid: 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 Hyperliquid live order book, 4 min ago | 0.20 bp | doesn't fit | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_CAKE_USDC | +0.0014% | 4h | 2.5092 | −1.368% | $7K | $14K | 10x | as long as short |
| Injective CAKE/USDC PERPlong | +0.0033% | 1h | 2.5440 | long leg | $113 | $52K | 5.5x | |
| Hyperliquid CAKEshort | +0.0100% | 1h | 2.5113 | −1.285% | $3.1M | $2.5M | 3x | |
| Aster CAKEUSDT | +0.0100% | 4h | 2.5102 | −1.328% | $2.4M | $72K | 10x | as long as short |
| Binance CAKEUSDT | +0.0100% | 4h | 2.5102 | −1.329% | $18.0M | $31.3M | 75x | as long as short |
| Bybit CAKEUSDT | +0.0100% | 4h | 2.5090 | −1.376% | $5.2M | $3.6M | 50x | as long as short |
| Gate CAKE_USDT | +0.0100% | 4h | 2.5073 | −1.443% | $873K | $640K | 75x | as long as short |
| MEXC CAKE_USDT | +0.0100% | 4h | 2.5098 | −1.344% | $13.6M | $2.9M | 125x | as long as short |
| KuCoin CAKEUSDTM | +0.0100% | 4h | 2.5105 | −1.317% | $2.4M | $5.5M | 50x | as long as short |
| Bitget CAKEUSDT | +0.0100% | 4h | 2.5114 | −1.281% | $2.6M | $2.3M | 75x | as long as short |
Orderly PERP_CAKE_USDC
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 | 2.5082 | −1.407% | — | $3.7M | — | as long as short |
| Variational Omni CAKE | +0.0100% | 4h | 2.5115 | −1.278% | $521K | $469K | — | as long as short |
| ApeX Omni CAKEUSDT | +0.0100% | 1h | 2.5133 | −1.207% | $11K | $680K | 50x | as long as short |
| BloFin CAKE-USDT | +0.0154% | 4h | 2.5086 | −1.392% | $1.0M | $367K | 75x | as long as short |
| GMX CAKE/USD [WBTC.b-USDC] | L +0.0416% / S −0.0269% | 1h | 2.5101 | −1.332% | $37K | — | 100x | as long as short |
| Kraken Futures PF_CAKEUSD | +0.0746% | 1h | 2.5222 | −0.856% | $54K | $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