CAKE

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0083%/8h= −9.1% APRnext payment −$0.10 per $10,000 · paid last 24h −0.183%

Price spread now: GMX against Kraken Futures−0.044%7-day average — · you buy dearer than you sell

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

Long on Kraken Futures Short on GMX

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—needs both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and GMX is 0.044% cheaper against Kraken Futures than usual: you would sell low and buy high (−$4 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	Kraken Futures PF_CAKEUSD	2.5048	0.0352	pay 0.0044% / 1h	56m 51s	$52K	$38K	10x
Short	GMX CAKE/USD [WBTC.b-USDC]	2.5036	L +0.0415% / S −0.0269%	get 0.0034% / 1h	56m 51s	$37K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Kraken Futures. 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 Kraken FuturesbpFee GMXbpOrdersPrice spread, now −0.044%Rate

Funding earned: −$17.47
Price spread: −0.044% → 0.000%: −$4.42
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: −$43.9
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Kraken Futures: no order-book sample; GMX: 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 Kraken Futures no order-book sample	—	—	—	—	—
Sell GMX no order-book sample	—	—	—	—	—

Kraken Futures and 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 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 CAKEUSDT	−0.0573%	4h	2.4996	−0.206%	$5.2M	$3.6M	50x	as long as short
Orderly PERP_CAKE_USDC	+0.0014%	4h	2.5014	−0.134%	$7K	$14K	10x	as long as short
ApeX Omni CAKEUSDT	+0.0027%	1h	2.5042	−0.022%	$11K	$678K	50x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	+1.567%	$113	$52K	5.5x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5037	−0.042%	$3.1M	$2.5M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.5028	−0.077%	$2.4M	$79K	10x	as long as short
Binance CAKEUSDT	+0.0100%	4h	2.5007	−0.162%	$17.8M	$31.3M	75x	as long as short
Gate CAKE_USDT	+0.0100%	4h	2.5003	−0.178%	$872K	$635K	75x	as long as short
MEXC CAKE_USDT	+0.0100%	4h	2.5008	−0.158%	$13.3M	$2.8M	125x	as long as short
KuCoin CAKEUSDTM	+0.0100%	4h	2.5006	−0.166%	$2.4M	$5.4M	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget CAKEUSDT	+0.0100%	4h	2.5039	−0.034%	$2.5M	$2.4M	75x	as long as short
BingX CAKE-USDT	+0.0100%	4h	2.5014	−0.134%	—	$3.8M	—	as long as short
Variational Omni CAKE	+0.0100%	4h	2.5011	−0.148%	$513K	$475K	—	as long as short
BloFin CAKE-USDT	+0.0140%	4h	2.5011	−0.146%	$993K	$356K	75x	as long as short
Kraken Futures PF_CAKEUSDlong	+0.0352%	1h	2.5048	long leg	$52K	$38K	10x
GMX CAKE/USD [WBTC.b-USDC]short	L +0.0415% / S −0.0269%	1h	2.5036	−0.044%	$37K	—	100x