CAKE

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0604%/8h= −66.1% APRnext payment −$0.75 per $10,000 · paid last 24h −0.212%

Price spread now: Hyperliquid against Kraken Futures−0.368%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 Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.774%−$77 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

Both sides work against this trade now: funding costs −$18 a day on $10k at the current rate, and Hyperliquid is 0.368% cheaper against Kraken Futures than usual: you would sell low and buy high (−$37 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	2.4954	0.0704	pay 0.0088% / 1h	39m 21s	$52K	$37K	10x
Short	Hyperliquid CAKE	2.4862	0.0100	get 0.0013% / 1h	39m 21s	$3.1M	$2.0M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now −0.368%Rate

Funding earned: −$126.74
Price spread: −0.368% → 0.000%: −$36.82
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$182.55
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Kraken Futures: no order-book sample; Hyperliquid: live order book, 2 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 Kraken Futures no order-book sample	—	—	—	—	—
Sell Hyperliquid live order book, 2 min ago	1.00 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit

Kraken Futures: 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	−0.0511%	4h	2.4850	−0.417%	$5.1M	$3.5M	50x	as long as short
ApeX Omni CAKEUSDT	−0.0193%	1h	2.4902	−0.209%	$10K	$678K	50x	as long as short
Orderly PERP_CAKE_USDC	−0.0039%	4h	2.4873	−0.325%	$7K	$14K	10x	as long as short
Variational Omni CAKE	0.0000%	4h	2.4881	−0.292%	$510K	$460K	—	as long as short
KuCoin CAKEUSDTM	+0.0012%	4h	2.4835	−0.477%	$2.4M	$5.3M	50x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	+1.947%	$113	$52K	5.5x	as long as short
Hyperliquid CAKEshort	+0.0100%	1h	2.4862	−0.368%	$3.1M	$2.0M	3x
Aster CAKEUSDT	+0.0100%	4h	2.4875	−0.317%	$2.3M	$77K	10x	as long as short
Binance CAKEUSDT	+0.0100%	4h	2.4873	−0.325%	$17.5M	$30.7M	75x	as long as short
Gate CAKE_USDT	+0.0100%	4h	2.4844	−0.441%	$862K	$607K	75x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC CAKE_USDT	+0.0100%	4h	2.4860	−0.377%	$13.1M	$2.8M	125x	as long as short
Bitget CAKEUSDT	+0.0100%	4h	2.4879	−0.301%	$2.5M	$2.3M	75x	as long as short
BingX CAKE-USDT	+0.0100%	4h	2.4861	−0.373%	—	$3.8M	—	as long as short
BloFin CAKE-USDT	+0.0123%	4h	2.4903	−0.205%	$988K	$315K	75x	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0415% / S −0.0269%	1h	2.4896	−0.232%	$37K	—	100x	as long as short
Kraken Futures PF_CAKEUSDlong	+0.0704%	1h	2.4954	long leg	$52K	$37K	10x