CAKE

Alert

Funding spread now, next payment 20:00 UTC+0.0046%/8h

next payment, per $10,000+$0.23paid, last 24h+0.008%paid, last 5 days−0.051%to open and closeno order book

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_CAKE_USDC	2.5737	0.0054	pay 0.0027% / 4h	3h 25m	$7K	$15K	10x
Short	Bybit CAKEUSDT	2.5700	0.0100	get 0.0050% / 4h	3h 25m	$5.4M	$4.5M	50x

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee OrderlybpFee BybitbpOrdersRate

Funding earned: $9.57
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$7.43
Break-even: 12.4 days

Slippage unknown: Orderly: no order-book sample; Bybit: live order book, 4 min ago. Net counts fees only.

Price risk

price view

Price gap now: −0.144%
Avg gap 7d: —

A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

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 Orderly no order-book sample	—	—	—	—	—
Sell Bybit live order book, 4 min ago	1.94 bp	24.2 bp −$24	71.4 bp −$714	doesn't fit	doesn't fit

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.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
BloFin CAKE-USDT	+0.0050%	4h	$996K	$383K	75x	as long as short
ApeX Omni CAKEUSDT	+0.0052%	1h	$12K	$696K	50x	as long as short
Orderly PERP_CAKE_USDClong	+0.0054%	4h	$7K	$15K	10x
Hyperliquid CAKE	+0.0100%	1h	$3.1M	$4.5M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	$2.4M	$131K	10x	as long as short
Binance CAKEUSDT	+0.0100%	4h	$18.2M	$42.3M	75x	as long as short
Bybit CAKEUSDTshort	+0.0100%	4h	$5.4M	$4.5M	50x
Gate CAKE_USDT	+0.0100%	4h	$869K	$1.1M	75x	as long as short
MEXC CAKE_USDT	+0.0100%	4h	$12.9M	$2.6M	125x	as long as short
KuCoin CAKEUSDTM	+0.0100%	4h	$2.5M	$6.1M	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Bitget CAKEUSDT	+0.0100%	4h	$2.9M	$3.0M	75x	as long as short
BingX CAKE-USDT	+0.0100%	4h	—	$3.3M	—	as long as short
Variational Omni CAKE	+0.0100%	4h	$557K	$503K	—	as long as short
Injective CAKE/USDC PERP	+0.0401%	1h	$114	$50	5.5x	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0425% / S −0.0272%	1h	$38K	—	100x	as long as short
Kraken Futures PF_CAKEUSD	+0.1551%	1h	$58K	$54K	10x	as long as short