Funding you earn now, next payment 04:00 UTC+0.0087%/8h= +9.5% APRnext payment +$0.44 per $10,000 · paid last 24h +0.014%
Price spread now: Binance against Orderly−0.072%59s7-day average — · you buy dearer than you sell
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
=Together, before fees—needs both histories
Funding pays, the price is against you. Binance is 0.072% cheaper against Orderly than usual: you would sell low and buy high (spread −0.072% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 2.7 days of funding at the current rate (+$3 a day). 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 | 2.5138 | 0.0013 | pay 0.0006% / 4h | 2h 09m | $7K | $14K | 10x |
| Short | Binance CAKEUSDT | 2.5120 | 0.0100 | get 0.0050% / 4h | 2h 09m | $17.9M | $33.8M | 75x |
Orderly PERP_CAKE_USDC
Binance CAKEUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance 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
- $18.28
- Price spread: −0.072% → 0.000%
- −$7.16
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$4.88
- Costs to cover
- 0.160%
- Break-even
- 8.9 days
Slippage unknown: Orderly: no order-book sample; Binance: 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 Orderly no order-book sample | — | — | — | — | — |
| Sell Binance live order book, 2 min ago | 1.19 bp | 11.8 bp −$12 | 28.5 bp −$285 | 119.3 bp −$11.9K | 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 15 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 | +0.0013% | 4h | 2.5138 | long leg | $7K | $14K | 10x | |
| Injective CAKE/USDC PERP | +0.0033% | 1h | 2.5440 | +1.201% | $113 | $52K | 5.5x | as long as short |
| Hyperliquid CAKE | +0.0100% | 1h | 2.5145 | +0.029% | $3.1M | $2.6M | 3x | as long as short |
| Aster CAKEUSDT | +0.0100% | 4h | 2.5153 | +0.059% | $2.4M | $76K | 10x | as long as short |
| Binance CAKEUSDTshort | +0.0100% | 4h | 2.5120 | −0.072% | $17.9M | $33.8M | 75x | |
| Bybit CAKEUSDT | +0.0100% | 4h | 2.5120 | −0.072% | $5.2M | $3.7M | 50x | as long as short |
| Gate CAKE_USDT | +0.0100% | 4h | 2.5112 | −0.103% | $876K | $673K | 75x | as long as short |
| MEXC CAKE_USDT | +0.0100% | 4h | 2.5120 | −0.072% | $13.7M | $2.9M | 125x | as long as short |
| KuCoin CAKEUSDTM | +0.0100% | 4h | 2.5127 | −0.044% | $2.4M | $5.5M | 50x | as long as short |
| Bitget CAKEUSDT | +0.0100% | 4h | 2.5133 | −0.020% | $2.6M | $2.5M | 75x | as long as short |
Injective CAKE/USDC PERP
Hyperliquid CAKE
Aster CAKEUSDT
Bybit CAKEUSDT
Gate CAKE_USDT
MEXC CAKE_USDT
KuCoin CAKEUSDTM
Bitget CAKEUSDTShow all 15 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX CAKE-USDT | +0.0100% | 4h | 2.5126 | −0.048% | — | $3.6M | — | as long as short |
| Variational Omni CAKE | +0.0100% | 4h | 2.5131 | −0.029% | $533K | $460K | — | as long as short |
| ApeX Omni CAKEUSDT | +0.0100% | 1h | 2.5152 | +0.056% | $11K | $683K | 50x | as long as short |
| GMX CAKE/USD [WBTC.b-USDC] | L +0.0417% / S −0.0269% | 1h | 2.5136 | −0.008% | $37K | — | 100x | as long as short |
| Kraken Futures PF_CAKEUSD | +0.0833% | 1h | 2.5152 | +0.057% | $54K | $37K | 10x | as long as short |
BingX CAKE-USDT
Variational Omni CAKE
ApeX Omni CAKEUSDT
GMX CAKE/USD [WBTC.b-USDC]
Kraken Futures PF_CAKEUSD