Funding you earn now, next payment 04:00 UTC+0.0088%/8h= +9.6% APRnext payment +$0.44 per $10,000 · paid last 24h +0.015%
Price spread now: Aster against Orderly+0.156%59s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 5 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Aster is 0.156% dearer against Orderly than usual: you sell high and buy low: +$16 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 59 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 | Orderly PERP_CAKE_USDC | 2.5154 | 0.0012 | pay 0.0006% / 4h | 1h 22m | $7K | $14K | 10x |
| Short | Aster CAKEUSDT | 2.5193 | 0.0100 | get 0.0050% / 4h | 1h 22m | $2.4M | $72K | 10x |
Orderly PERP_CAKE_USDC
Aster CAKEUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Aster against Orderly. 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
- $18.5
- Price spread: +0.156% → 0.000%
- $15.56
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Aster: 4 bp × 2 orders
- −$8
- Net
- $20.05
- Costs to cover
- 0.140%
- Break-even
- from the start
Slippage unknown: Orderly: no order-book sample; Aster: live order book, 1 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 Orderly no order-book sample | — | — | — | — | — |
| Sell Aster live order book, 1 min ago | 3.97 bp | 20.0 bp −$20 | 1347.0 bp −$13.5K | doesn't fit | doesn't fit |
Orderly: 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_USDClong | +0.0012% | 4h | 2.5154 | long leg | $7K | $14K | 10x | |
| Injective CAKE/USDC PERP | +0.0033% | 1h | 2.5440 | +1.137% | $113 | $52K | 5.5x | as long as short |
| Hyperliquid CAKE | +0.0100% | 1h | 2.5209 | +0.219% | $3.1M | $2.5M | 3x | as long as short |
| Aster CAKEUSDTshort | +0.0100% | 4h | 2.5193 | +0.156% | $2.4M | $72K | 10x | |
| Binance CAKEUSDT | +0.0100% | 4h | 2.5188 | +0.135% | $18.0M | $31.5M | 75x | as long as short |
| Bybit CAKEUSDT | +0.0100% | 4h | 2.5168 | +0.056% | $5.3M | $3.6M | 50x | as long as short |
| Gate CAKE_USDT | +0.0100% | 4h | 2.5176 | +0.087% | $878K | $649K | 75x | as long as short |
| MEXC CAKE_USDT | +0.0100% | 4h | 2.5184 | +0.119% | $13.7M | $2.9M | 125x | as long as short |
| KuCoin CAKEUSDTM | +0.0100% | 4h | 2.5178 | +0.095% | $2.5M | $5.5M | 50x | as long as short |
| Bitget CAKEUSDT | +0.0100% | 4h | 2.5192 | +0.151% | $2.6M | $2.3M | 75x | as long as short |
Injective CAKE/USDC PERP
Hyperliquid CAKE
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 | 2.5184 | +0.119% | — | $3.7M | — | as long as short |
| Variational Omni CAKE | +0.0100% | 4h | 2.5040 | −0.454% | $519K | $470K | — | as long as short |
| ApeX Omni CAKEUSDT | +0.0100% | 1h | 2.5108 | −0.183% | $11K | $682K | 50x | as long as short |
| BloFin CAKE-USDT | +0.0114% | 4h | 2.5159 | +0.020% | $1.0M | $368K | 75x | as long as short |
| GMX CAKE/USD [WBTC.b-USDC] | L +0.0416% / S −0.0269% | 1h | 2.5156 | +0.007% | $37K | — | 100x | as long as short |
| Kraken Futures PF_CAKEUSD | +0.1551% | 1h | 2.5183 | +0.114% | $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