CAKE

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0077%/8h= −8.4% APRnext payment −$0.38 per $10,000 · paid last 24h −0.014%

Price spread now: Orderly against Bybit−0.048%50s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Bybit Short on Orderly

What this pair did over the last

the charts below follow

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 −$2 a day on $10k at the current rate, and Orderly is 0.048% cheaper against Bybit than usual: you would sell low and buy high (−$5 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 50 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	Bybit CAKEUSDT	2.5231	0.0100	pay 0.0050% / 4h	2h 46m	$5.3M	$3.8M	50x
Short	Orderly PERP_CAKE_USDC	2.5219	0.0023	get 0.0012% / 4h	2h 46m	$7K	$14K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Bybit. 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 BybitbpFee OrderlybpOrdersPrice spread, now −0.048%Rate

Funding earned: −$16.14
Price spread: −0.048% → 0.000%: −$4.76
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$37.9
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 1 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 Bybit live order book, 1 min ago	1.98 bp	20.7 bp −$21	50.6 bp −$506	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
Orderly PERP_CAKE_USDCshort	+0.0023%	4h	2.5219	−0.048%	$7K	$14K	10x
ApeX Omni CAKEUSDT	+0.0033%	1h	2.5273	+0.166%	$11K	$699K	50x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	+0.828%	$113	$52K	5.5x	as long as short
BloFin CAKE-USDT	+0.0087%	4h	2.5243	+0.048%	$992K	$360K	75x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5265	+0.135%	$3.2M	$2.6M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.5264	+0.131%	$2.4M	$75K	10x	as long as short
Binance CAKEUSDT	+0.0100%	4h	2.5238	+0.027%	$18.0M	$34.6M	75x	as long as short
Bybit CAKEUSDTlong	+0.0100%	4h	2.5231	long leg	$5.3M	$3.8M	50x
Gate CAKE_USDT	+0.0100%	4h	2.5220	−0.044%	$882K	$664K	75x	as long as short
MEXC CAKE_USDT	+0.0100%	4h	2.5240	+0.036%	$13.8M	$2.8M	125x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin CAKEUSDTM	+0.0100%	4h	2.5236	+0.020%	$2.4M	$5.5M	50x	as long as short
Bitget CAKEUSDT	+0.0100%	4h	2.5237	+0.024%	$2.6M	$2.5M	75x	as long as short
BingX CAKE-USDT	+0.0100%	4h	2.5220	−0.044%	—	$3.5M	—	as long as short
Variational Omni CAKE	+0.0100%	4h	2.5246	+0.060%	$537K	$459K	—	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0417% / S −0.0269%	1h	2.5237	+0.025%	$37K	—	100x	as long as short
Kraken Futures PF_CAKEUSD	+0.0827%	1h	2.5344	+0.449%	$55K	$37K	10x	as long as short