Funding you earn now, next payment 04:00 UTC+0.0013%/8h= +1.4% APRpaid last 24h −0.005%
Price spread now: Injective against Orderly+1.561%58s7-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—needs both histories
Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and Injective is 1.561% dearer against Orderly than usual: you sell high and buy low: +$156 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 58 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 | Orderly PERP_CAKE_USDC | 2.5049 | 0.0021 | pay 0.0010% / 4h | 23m 27s | $7K | $14K | 10x |
| Short | Injective CAKE/USDC PERP | 2.5440 | 0.0033 | get 0.0004% / 1h | 23m 27s | $113 | $52K | 5.5x |
Orderly PERP_CAKE_USDC
Injective CAKE/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective 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
- $2.66
- Price spread: +1.561% → 0.000%
- $156.09
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- $152.73
- Costs to cover
- 0.060%
- Break-even
- from the start
Slippage unknown: Orderly: no order-book sample; 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 Orderly no order-book sample | — | — | — | — | — |
| Sell Injective no order-book sample | — | — | — | — | — |
Orderly and 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 | |
|---|---|---|---|---|---|---|---|---|
| ApeX Omni CAKEUSDT | −0.0013% | 1h | 2.5069 | +0.080% | $11K | $677K | 50x | as long as short |
| Orderly PERP_CAKE_USDClong | +0.0021% | 4h | 2.5049 | long leg | $7K | $14K | 10x | |
| Injective CAKE/USDC PERPshort | +0.0033% | 1h | 2.5440 | +1.561% | $113 | $52K | 5.5x | |
| Hyperliquid CAKE | +0.0100% | 1h | 2.5077 | +0.112% | $3.1M | $2.5M | 3x | as long as short |
| Aster CAKEUSDT | +0.0100% | 4h | 2.5073 | +0.094% | $2.4M | $79K | 10x | as long as short |
| Binance CAKEUSDT | +0.0100% | 4h | 2.5046 | −0.013% | $17.9M | $31.2M | 75x | as long as short |
| Bybit CAKEUSDT | +0.0100% | 4h | 2.5040 | −0.036% | $5.2M | $3.6M | 50x | as long as short |
| Gate CAKE_USDT | +0.0100% | 4h | 2.5027 | −0.088% | $872K | $642K | 75x | as long as short |
| MEXC CAKE_USDT | +0.0100% | 4h | 2.5048 | −0.004% | $13.3M | $2.9M | 125x | as long as short |
| KuCoin CAKEUSDTM | +0.0100% | 4h | 2.5050 | +0.004% | $2.4M | $5.4M | 50x | as long as short |
ApeX Omni CAKEUSDT
Hyperliquid CAKE
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 | 2.5066 | +0.068% | $2.6M | $2.3M | 75x | as long as short |
| BingX CAKE-USDT | +0.0100% | 4h | 2.5043 | −0.024% | — | $3.8M | — | as long as short |
| Variational Omni CAKE | +0.0100% | 4h | 2.5015 | −0.134% | $519K | $469K | — | as long as short |
| BloFin CAKE-USDT | +0.0159% | 4h | 2.5050 | +0.004% | $996K | $362K | 75x | as long as short |
| GMX CAKE/USD [WBTC.b-USDC] | L +0.0416% / S −0.0269% | 1h | 2.5067 | +0.072% | $37K | — | 100x | as long as short |
| Kraken Futures PF_CAKEUSD | +0.0749% | 1h | 2.5099 | +0.198% | $53K | $38K | 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