Funding you earn now, next payment 03:00 UTC+0.1540%/8h= +168.7% APRpaid last 24h +0.257%
Price spread now: Kraken Futures against Orderly+0.148%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—needs both histories
Both sides work for this trade now. Funding pays +$46 a day on $10k at the current rate, and Kraken Futures is 0.148% dearer against Orderly than usual: you sell high and buy low: +$15 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 | 2.5108 | 0.0013 | pay 0.0007% / 4h | 1h 30m | $7K | $14K | 10x |
| Short | Kraken Futures PF_CAKEUSD | 2.5145 | 0.1554 | get 0.0194% / 1h | 30m 14s | $54K | $37K | 10x |
Orderly PERP_CAKE_USDC
Kraken Futures PF_CAKEUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures 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
- $323.49
- Price spread: +0.148% → 0.000%
- $14.77
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $322.26
- Costs to cover
- 0.160%
- Break-even
- 0.0 days
Slippage unknown: Orderly: 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 Orderly no order-book sample | — | — | — | — | — |
| Sell Kraken Futures no order-book sample | — | — | — | — | — |
Orderly 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_USDClong | +0.0013% | 4h | 2.5108 | long leg | $7K | $14K | 10x | |
| Injective CAKE/USDC PERP | +0.0033% | 1h | 2.5440 | +1.322% | $113 | $52K | 5.5x | as long as short |
| ApeX Omni CAKEUSDT | +0.0074% | 1h | 2.5136 | +0.112% | $11K | $683K | 50x | as long as short |
| Hyperliquid CAKE | +0.0100% | 1h | 2.5131 | +0.092% | $3.1M | $2.5M | 3x | as long as short |
| Aster CAKEUSDT | +0.0100% | 4h | 2.5132 | +0.097% | $2.4M | $72K | 10x | as long as short |
| Binance CAKEUSDT | +0.0100% | 4h | 2.5115 | +0.028% | $17.9M | $31.5M | 75x | as long as short |
| Bybit CAKEUSDT | +0.0100% | 4h | 2.5100 | −0.032% | $5.2M | $3.6M | 50x | as long as short |
| Gate CAKE_USDT | +0.0100% | 4h | 2.5103 | −0.020% | $874K | $649K | 75x | as long as short |
| MEXC CAKE_USDT | +0.0100% | 4h | 2.5124 | +0.064% | $13.7M | $2.9M | 125x | as long as short |
| KuCoin CAKEUSDTM | +0.0100% | 4h | 2.5109 | +0.004% | $2.5M | $5.5M | 50x | as long as short |
Injective CAKE/USDC PERP
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 | 2.5114 | +0.024% | $2.6M | $2.3M | 75x | as long as short |
| BingX CAKE-USDT | +0.0100% | 4h | 2.5108 | 0.000% | — | $3.7M | — | as long as short |
| Variational Omni CAKE | +0.0100% | 4h | 2.5110 | +0.007% | $521K | $470K | — | as long as short |
| BloFin CAKE-USDT | +0.0125% | 4h | 2.5142 | +0.135% | $997K | $373K | 75x | as long as short |
| GMX CAKE/USD [WBTC.b-USDC] | L +0.0416% / S −0.0269% | 1h | 2.5116 | +0.030% | $37K | — | 100x | as long as short |
| Kraken Futures PF_CAKEUSDshort | +0.1554% | 1h | 2.5145 | +0.148% | $54K | $37K | 10x |
Bitget CAKEUSDT
BingX CAKE-USDT
Variational Omni CAKE
BloFin CAKE-USDT
GMX CAKE/USD [WBTC.b-USDC]