CAKE

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0023%/8h= −2.5% APRnext payment −$0.03 per $10,000 · paid last 24h +0.193%

Price spread now: Kraken Futures against GMX+0.035%54s7-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 Kraken Futures

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—needs both histories

The price spread pays, funding is against you. Kraken Futures is 0.035% dearer against GMX than usual: you sell high and buy low (spread +0.035% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 5.1 days. The two prices were read 54 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	GMX CAKE/USD [WBTC.b-USDC]	2.5534	L +0.0419% / S −0.0272%	pay 0.0052% / 1h	32m 22s	$38K	—	100x
Short	Kraken Futures PF_CAKEUSD	2.5543	0.0396	get 0.0050% / 1h	32m 22s	$57K	$44K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.035%Rate

Funding earned: −$4.82
Price spread: +0.035% → 0.000%: $3.51
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$23.32
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Kraken Futures: 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 GMX no order-book sample	—	—	—	—	—
Sell Kraken Futures no order-book sample	—	—	—	—	—

GMX and Kraken Futures: 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	−0.0001%	4h	2.5505	−0.114%	$7K	$15K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	−0.368%	$113	$52K	5.5x	as long as short
BloFin CAKE-USDT	+0.0063%	4h	2.5509	−0.098%	$984K	$373K	75x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.5562	+0.108%	$2.4M	$112K	10x	as long as short
Binance CAKEUSDT	+0.0100%	4h	2.5525	−0.034%	$18.0M	$40.7M	75x	as long as short
Bybit CAKEUSDT	+0.0100%	4h	2.5522	−0.047%	$5.3M	$4.4M	50x	as long as short
Gate CAKE_USDT	+0.0100%	4h	2.5510	−0.094%	$835K	$860K	75x	as long as short
MEXC CAKE_USDT	+0.0100%	4h	2.5532	−0.008%	$14.1M	$2.9M	125x	as long as short
KuCoin CAKEUSDTM	+0.0100%	4h	2.5558	+0.094%	$2.5M	$5.9M	50x	as long as short
Bitget CAKEUSDT	+0.0100%	4h	2.5549	+0.059%	$2.8M	$3.1M	75x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX CAKE-USDT	+0.0100%	4h	2.5532	−0.008%	—	$3.5M	—	as long as short
Variational Omni CAKE	+0.0100%	4h	2.5475	−0.230%	$543K	$502K	—	as long as short
ApeX Omni CAKEUSDT	+0.0100%	1h	2.5512	−0.086%	$13K	$693K	50x	as long as short
Hyperliquid CAKE	+0.0112%	1h	2.5579	+0.176%	$3.1M	$3.5M	3x	as long as short
Kraken Futures PF_CAKEUSDshort	+0.0396%	1h	2.5543	+0.035%	$57K	$44K	10x
GMX CAKE/USD [WBTC.b-USDC]long	L +0.0419% / S −0.0272%	1h	2.5534	long leg	$38K	—	100x