Funding you earn now, next payment 08:00 UTC−0.0142%/8h= −15.5% APRnext payment −$0.71 per $10,000 · paid last 24h −0.018%
Price spread now: Orderly against Binance−0.105%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
Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Orderly is 0.105% cheaper against Binance than usual: you would sell low and buy high (−$10 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. 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 | Binance CAKEUSDT | 2.5006 | 0.0100 | pay 0.0050% / 4h | 2h 35m | $17.6M | $30.7M | 75x |
| Short | Orderly PERP_CAKE_USDC | 2.4980 | −0.0042 | pay 0.0021% / 4h | 2h 35m | $7K | $14K | 10x |
Binance CAKEUSDT
Orderly PERP_CAKE_USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly against Binance. 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
- −$29.79
- Price spread: −0.105% → 0.000%
- −$10.5
- Slippage, 4 orders
- no order book: not counted
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- −$56.29
- Costs to cover
- 0.160%
- Break-even
- never at this rate
Slippage unknown: Binance: live order book, 6 min ago; Orderly: 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 Binance live order book, 6 min ago | 0.20 bp | 10.3 bp −$10 | 25.7 bp −$257 | doesn't fit | doesn't fit |
| Sell Orderly no order-book sample | — | — | — | — | — |
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 | |
|---|---|---|---|---|---|---|---|---|
| Bybit CAKEUSDT | −0.0548% | 4h | 2.4989 | −0.069% | $5.2M | $3.5M | 50x | as long as short |
| ApeX Omni CAKEUSDT | −0.0246% | 1h | 2.4962 | −0.177% | $11K | $677K | 50x | as long as short |
| Variational Omni CAKE | −0.0049% | 4h | 2.4961 | −0.180% | $511K | $460K | — | as long as short |
| Orderly PERP_CAKE_USDCshort | −0.0042% | 4h | 2.4980 | −0.105% | $7K | $14K | 10x | |
| KuCoin CAKEUSDTM | +0.0008% | 4h | 2.4979 | −0.109% | $2.4M | $5.3M | 50x | as long as short |
| Injective CAKE/USDC PERP | +0.0033% | 1h | 2.5440 | +1.735% | $113 | $52K | 5.5x | as long as short |
| Hyperliquid CAKE | +0.0100% | 1h | 2.5017 | +0.043% | $3.1M | $2.0M | 3x | as long as short |
| Aster CAKEUSDT | +0.0100% | 4h | 2.5016 | +0.038% | $2.4M | $77K | 10x | as long as short |
| Binance CAKEUSDTlong | +0.0100% | 4h | 2.5006 | long leg | $17.6M | $30.7M | 75x | |
| Gate CAKE_USDT | +0.0100% | 4h | 2.4973 | −0.133% | $867K | $608K | 75x | as long as short |
Bybit CAKEUSDT
ApeX Omni CAKEUSDT
Variational Omni CAKE
KuCoin CAKEUSDTM
Injective CAKE/USDC PERP
Hyperliquid CAKE
Aster CAKEUSDT
Gate CAKE_USDTShow all 16 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC CAKE_USDT | +0.0100% | 4h | 2.5005 | −0.005% | $13.2M | $2.8M | 125x | as long as short |
| Bitget CAKEUSDT | +0.0100% | 4h | 2.5011 | +0.019% | $2.5M | $2.3M | 75x | as long as short |
| BingX CAKE-USDT | +0.0100% | 4h | 2.4985 | −0.085% | — | $3.8M | — | as long as short |
| BloFin CAKE-USDT | +0.0138% | 4h | 2.4943 | −0.253% | $989K | $315K | 75x | as long as short |
| GMX CAKE/USD [WBTC.b-USDC] | L +0.0416% / S −0.0269% | 1h | 2.5026 | +0.080% | $37K | — | 100x | as long as short |
| Kraken Futures PF_CAKEUSD | +0.0702% | 1h | 2.5001 | −0.022% | $52K | $37K | 10x | as long as short |
MEXC CAKE_USDT
Bitget CAKEUSDT
BingX CAKE-USDT
BloFin CAKE-USDT
GMX CAKE/USD [WBTC.b-USDC]
Kraken Futures PF_CAKEUSD