Funding you earn now, next payment 00:00 UTC−0.0651%/8h= −71.3% APRpaid last 24h −0.263%
Price spread now: Variational Omni against Kraken Futures−0.158%58s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
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—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories
Both sides work against this trade now: funding costs −$20 a day on $10k at the current rate, and Variational Omni is 0.158% cheaper against Kraken Futures than usual: you would sell low and buy high (−$16 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 58 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 | Kraken Futures PF_CAKEUSD | 2.5563 | 0.0751 | pay 0.0094% / 1h | 27m 24s | $55K | $39K | 10x |
| Short | Variational Omni CAKE | 2.5522 | 0.0100 | get 0.0050% / 4h | 27m 24s | $536K | $480K | — |
Kraken Futures PF_CAKEUSD
Variational Omni CAKEFunding history
latest
Range statsloading…
Price spread between the two exchanges
Variational Omni 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$136.76
- Price spread: −0.158% → 0.000%
- −$15.82
- Slippage, 4 orders
- no order book: not counted
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- −$162.58
- Costs to cover
- 0.100%
- Break-even
- never at this rate
Slippage unknown: Kraken Futures: no order-book sample; Variational Omni: RFQ quote, 52 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 Variational Omni RFQ quote, 52 min ago | 4.69 bp | doesn't fit | 49.2 bp −$492 | 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 | |
|---|---|---|---|---|---|---|---|---|
| ApeX Omni CAKEUSDT | −0.0072% | 1h | 2.5521 | −0.162% | $13K | $697K | 50x | as long as short |
| Orderly PERP_CAKE_USDC | +0.0025% | 4h | 2.5524 | −0.151% | $7K | $14K | 10x | as long as short |
| Injective CAKE/USDC PERP | +0.0033% | 1h | 2.5440 | −0.479% | $113 | $52K | 5.5x | as long as short |
| BloFin CAKE-USDT | +0.0040% | 4h | 2.5529 | −0.131% | $1.0M | $364K | 75x | as long as short |
| Hyperliquid CAKE | +0.0100% | 1h | 2.5560 | −0.009% | $3.2M | $2.7M | 3x | as long as short |
| Aster CAKEUSDT | +0.0100% | 4h | 2.5543 | −0.077% | $2.4M | $80K | 10x | as long as short |
| Binance CAKEUSDT | +0.0100% | 4h | 2.5527 | −0.139% | $18.3M | $36.0M | 75x | as long as short |
| Bybit CAKEUSDT | +0.0100% | 4h | 2.5511 | −0.202% | $5.3M | $3.9M | 50x | as long as short |
| Gate CAKE_USDT | +0.0100% | 4h | 2.5511 | −0.202% | $890K | $754K | 75x | as long as short |
| MEXC CAKE_USDT | +0.0100% | 4h | 2.5517 | −0.178% | $14.2M | $2.8M | 125x | as long as short |
ApeX Omni CAKEUSDT
Orderly PERP_CAKE_USDC
Injective CAKE/USDC PERP
BloFin CAKE-USDT
Hyperliquid CAKE
Aster CAKEUSDT
Binance CAKEUSDT
Bybit CAKEUSDT
Gate CAKE_USDT
MEXC CAKE_USDTShow all 16 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin CAKEUSDTM | +0.0100% | 4h | 2.5525 | −0.147% | $2.5M | $5.6M | 50x | as long as short |
| Bitget CAKEUSDT | +0.0100% | 4h | 2.5543 | −0.076% | $2.7M | $2.6M | 75x | as long as short |
| BingX CAKE-USDT | +0.0100% | 4h | 2.5527 | −0.139% | — | $3.6M | — | as long as short |
| Variational Omni CAKEshort | +0.0100% | 4h | 2.5522 | −0.158% | $536K | $480K | — | |
| GMX CAKE/USD [WBTC.b-USDC] | L +0.0421% / S −0.0272% | 1h | 2.5547 | −0.059% | $38K | — | 100x | as long as short |
| Kraken Futures PF_CAKEUSDlong | +0.0751% | 1h | 2.5563 | long leg | $55K | $39K | 10x |
KuCoin CAKEUSDTM
Bitget CAKEUSDT
BingX CAKE-USDT
GMX CAKE/USD [WBTC.b-USDC]