CAKE

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0322%/8h= −35.2% APRnext payment −$0.40 per $10,000 · paid last 24h −0.083%

Price spread now: Hyperliquid against GMX+0.170%7-day average — · you sell dearer than you buy

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

Long on GMX Short on Hyperliquid

What this pair did over the last

the charts below follow

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 airdropHyperliquid: Season 2 · farm boardneeds both histories

The price spread pays, funding is against you. Hyperliquid is 0.170% dearer against GMX than usual: you sell high and buy low (spread +0.170% now, against zero (this spread has no 7-day history yet)): +$17 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 42 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX CAKE/USD [WBTC.b-USDC]	2.5588	L +0.0422% / S −0.0272%	pay 0.0053% / 1h	50m 39s	$38K	—	100x
Short	Hyperliquid CAKE	2.5632	0.0100	get 0.0013% / 1h	50m 39s	$3.2M	$2.7M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against GMX. 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 GMXbpFee HyperliquidbpOrdersPrice spread, now +0.170%Rate

Funding earned: −$67.52
Price spread: +0.170% → 0.000%: $17.03
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$71.48
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Hyperliquid: 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 GMX no order-book sample	—	—	—	—	—
Sell Hyperliquid live order book, 1 min ago	0.98 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit

GMX: 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_USDC	+0.0027%	4h	2.5574	−0.056%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	−0.580%	$113	$52K	5.5x	as long as short
ApeX Omni CAKEUSDT	+0.0098%	1h	2.5581	−0.029%	$13K	$699K	50x	as long as short
Hyperliquid CAKEshort	+0.0100%	1h	2.5632	+0.170%	$3.2M	$2.7M	3x
Aster CAKEUSDT	+0.0100%	4h	2.5600	+0.044%	$2.4M	$80K	10x	as long as short
Binance CAKEUSDT	+0.0100%	4h	2.5597	+0.032%	$18.4M	$36.4M	75x	as long as short
Bybit CAKEUSDT	+0.0100%	4h	2.5590	+0.006%	$5.3M	$3.9M	50x	as long as short
Gate CAKE_USDT	+0.0100%	4h	2.5570	−0.072%	$894K	$751K	75x	as long as short
MEXC CAKE_USDT	+0.0100%	4h	2.5597	+0.034%	$14.1M	$2.7M	125x	as long as short
KuCoin CAKEUSDTM	+0.0100%	4h	2.5600	+0.045%	$2.5M	$5.7M	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget CAKEUSDT	+0.0100%	4h	2.5614	+0.100%	$2.7M	$2.7M	75x	as long as short
BingX CAKE-USDT	+0.0100%	4h	2.5590	+0.006%	—	$3.6M	—	as long as short
Variational Omni CAKE	+0.0100%	4h	2.5562	−0.105%	$536K	$480K	—	as long as short
BloFin CAKE-USDT	+0.0145%	4h	2.5584	−0.017%	$998K	$364K	75x	as long as short
GMX CAKE/USD [WBTC.b-USDC]long	L +0.0422% / S −0.0272%	1h	2.5588	long leg	$38K	—	100x
Kraken Futures PF_CAKEUSD	+0.0750%	1h	2.5596	+0.029%	$57K	$37K	10x	as long as short