Funding you earn now, next payment 03:00 UTC−0.0067%/8h= −7.3% APRnext payment −$0.08 per $10,000 · paid last 24h −0.019%
Price spread now: Injective against Hyperliquid+1.137%53s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.070%−$7 on $10k
+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. Injective is 1.137% dearer against Hyperliquid than usual: you sell high and buy low (spread +1.137% now, against zero (this spread has no 7-day history yet)): +$114 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 57 days. At the pace of the last 7 days (−0.070% in total) that is about 4 months. The two prices were read 53 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 | Hyperliquid CAKE | 2.5154 | 0.0100 | pay 0.0013% / 1h | 40m 17s | $3.1M | $2.5M | 3x |
| Short | Injective CAKE/USDC PERP | 2.5440 | 0.0033 | get 0.0004% / 1h | 40m 17s | $113 | $52K | 5.5x |
Hyperliquid CAKE
Injective CAKE/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective against Hyperliquid. 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
- −$14
- Price spread: +1.137% → 0.000%
- $113.7
- Slippage, 4 orders
- no order book: not counted
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- $90.68
- Costs to cover
- 0.090%
- Break-even
- from the start
Slippage unknown: Hyperliquid: live order book, 1 min ago; Injective: 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 Hyperliquid live order book, 1 min ago | 1.00 bp | doesn't fit | doesn't fit | doesn't fit | doesn't fit |
| Sell Injective no order-book sample | — | — | — | — | — |
Injective: 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 | +0.0013% | 4h | 2.5129 | −0.099% | $7K | $14K | 10x | as long as short |
| Injective CAKE/USDC PERPshort | +0.0033% | 1h | 2.5440 | +1.137% | $113 | $52K | 5.5x | |
| ApeX Omni CAKEUSDT | +0.0054% | 1h | 2.5140 | −0.056% | $11K | $684K | 50x | as long as short |
| Hyperliquid CAKElong | +0.0100% | 1h | 2.5154 | long leg | $3.1M | $2.5M | 3x | |
| Aster CAKEUSDT | +0.0100% | 4h | 2.5148 | −0.023% | $2.4M | $72K | 10x | as long as short |
| Binance CAKEUSDT | +0.0100% | 4h | 2.5136 | −0.072% | $17.9M | $31.8M | 75x | as long as short |
| Bybit CAKEUSDT | +0.0100% | 4h | 2.5120 | −0.135% | $5.2M | $3.6M | 50x | as long as short |
| Gate CAKE_USDT | +0.0100% | 4h | 2.5102 | −0.207% | $875K | $648K | 75x | as long as short |
| MEXC CAKE_USDT | +0.0100% | 4h | 2.5142 | −0.048% | $13.7M | $2.9M | 125x | as long as short |
| KuCoin CAKEUSDTM | +0.0100% | 4h | 2.5135 | −0.076% | $2.5M | $5.5M | 50x | as long as short |
Orderly PERP_CAKE_USDC
ApeX Omni CAKEUSDT
Aster CAKEUSDT
Binance CAKEUSDT
Bybit CAKEUSDT
Gate CAKE_USDT
MEXC CAKE_USDT
KuCoin CAKEUSDTMShow all 16 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget CAKEUSDT | +0.0100% | 4h | 2.5143 | −0.044% | $2.6M | $2.3M | 75x | as long as short |
| BingX CAKE-USDT | +0.0100% | 4h | 2.5128 | −0.103% | — | $3.7M | — | as long as short |
| Variational Omni CAKE | +0.0100% | 4h | 2.5090 | −0.254% | $533K | $458K | — | as long as short |
| BloFin CAKE-USDT | +0.0119% | 4h | 2.5101 | −0.211% | $994K | $372K | 75x | as long as short |
| GMX CAKE/USD [WBTC.b-USDC] | L +0.0417% / S −0.0269% | 1h | 2.5145 | −0.035% | $37K | — | 100x | as long as short |
| Kraken Futures PF_CAKEUSD | +0.1554% | 1h | 2.5142 | −0.048% | $54K | $37K | 10x | as long as short |
Bitget CAKEUSDT
BingX CAKE-USDT
Variational Omni CAKE
BloFin CAKE-USDT
GMX CAKE/USD [WBTC.b-USDC]
Kraken Futures PF_CAKEUSD