Funding you earn now, next payment 01:00 UTC+0.0076%/8h= +8.3% APRpaid last 24h +0.015%
Price spread now: Hyperliquid against Orderly+0.181%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
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—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories
Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Hyperliquid is 0.181% dearer against Orderly than usual: you sell high and buy low: +$18 more if the spread goes back to zero (this spread has no 7-day history yet).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_CAKE_USDC | 2.5460 | 0.0024 | pay 0.0012% / 4h | 3h 11m | $7K | $14K | 10x |
| Short | Hyperliquid CAKE | 2.5506 | 0.0100 | get 0.0013% / 1h | 11m 14s | $3.2M | $2.7M | 3x |
Orderly PERP_CAKE_USDC
Hyperliquid CAKEFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Orderly. 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
- $15.96
- Price spread: +0.181% → 0.000%
- $18.07
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $19.02
- Costs to cover
- 0.150%
- Break-even
- from the start
Slippage unknown: Orderly: no order-book sample; Hyperliquid: live order book, 10 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 Orderly no order-book sample | — | — | — | — | — |
| Sell Hyperliquid live order book, 10 min ago | 0.59 bp | doesn't fit | doesn't fit | 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: 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_USDClong | +0.0024% | 4h | 2.5460 | long leg | $7K | $14K | 10x | |
| Injective CAKE/USDC PERP | +0.0033% | 1h | 2.5440 | −0.079% | $113 | $52K | 5.5x | as long as short |
| Hyperliquid CAKEshort | +0.0100% | 1h | 2.5506 | +0.181% | $3.2M | $2.7M | 3x | |
| Aster CAKEUSDT | +0.0100% | 4h | 2.5480 | +0.079% | $2.4M | $78K | 10x | as long as short |
| Binance CAKEUSDT | +0.0100% | 4h | 2.5460 | 0.000% | $18.2M | $34.8M | 75x | as long as short |
| Bybit CAKEUSDT | +0.0100% | 4h | 2.5450 | −0.039% | $5.3M | $3.8M | 50x | as long as short |
| Gate CAKE_USDT | +0.0100% | 4h | 2.5466 | +0.024% | $894K | $684K | 75x | as long as short |
| MEXC CAKE_USDT | +0.0100% | 4h | 2.5461 | +0.004% | $14.1M | $2.8M | 125x | as long as short |
| KuCoin CAKEUSDTM | +0.0100% | 4h | 2.5461 | +0.004% | $2.5M | $5.5M | 50x | as long as short |
| Bitget CAKEUSDT | +0.0100% | 4h | 2.5476 | +0.063% | $2.7M | $2.6M | 75x | as long as short |
Injective CAKE/USDC PERP
Aster CAKEUSDT
Binance CAKEUSDT
Bybit CAKEUSDT
Gate CAKE_USDT
MEXC CAKE_USDT
KuCoin CAKEUSDTM
Bitget CAKEUSDTShow all 16 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX CAKE-USDT | +0.0100% | 4h | 2.5453 | −0.027% | — | $3.5M | — | as long as short |
| Variational Omni CAKE | +0.0100% | 4h | 2.5436 | −0.095% | $533K | $443K | — | as long as short |
| ApeX Omni CAKEUSDT | +0.0100% | 1h | 2.5507 | +0.185% | $11K | $698K | 50x | as long as short |
| BloFin CAKE-USDT | +0.0140% | 4h | 2.5459 | −0.004% | $997K | $360K | 75x | as long as short |
| GMX CAKE/USD [WBTC.b-USDC] | L +0.0421% / S −0.0272% | 1h | 2.5465 | +0.019% | $38K | — | 100x | as long as short |
| Kraken Futures PF_CAKEUSD | +0.0708% | 1h | 2.5513 | +0.208% | $55K | $37K | 10x | as long as short |
BingX CAKE-USDT
Variational Omni CAKE
ApeX Omni CAKEUSDT
BloFin CAKE-USDT
GMX CAKE/USD [WBTC.b-USDC]
Kraken Futures PF_CAKEUSD