Funding you earn now, next payment 08:00 UTC−0.0182%/8h= −19.9% APRnext payment −$0.91 per $10,000 · paid last 24h +0.018%
Price spread now: Variational Omni against Orderly−0.026%48s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories
Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Variational Omni is 0.026% cheaper against Orderly than usual: you would sell low and buy high (−$3 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 48 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 | 2.4977 | −0.0101 | get 0.0051% / 4h | 1h 30m | $7K | $14K | 10x |
| Short | Variational Omni CAKE | 2.4971 | −0.0283 | pay 0.0142% / 4h | 1h 30m | $513K | $417K | — |
Orderly PERP_CAKE_USDC
Variational Omni CAKEFunding history
latest
Range statsloading…
Price spread between the two exchanges
Variational Omni 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
- −$38.21
- Price spread: −0.026% → 0.000%
- −$2.55
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- −$46.76
- Costs to cover
- 0.060%
- Break-even
- never at this rate
Slippage unknown: Orderly: no order-book sample; Variational Omni: RFQ quote, 13 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 Variational Omni RFQ quote, 13 min ago | 6.73 bp | doesn't fit | 74.4 bp −$744 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Bybit CAKEUSDT | −0.0487% | 4h | 2.4970 | −0.028% | $5.2M | $3.4M | 50x | as long as short |
| Variational Omni CAKEshort | −0.0283% | 4h | 2.4971 | −0.026% | $513K | $417K | — | |
| ApeX Omni CAKEUSDT | −0.0263% | 1h | 2.4982 | +0.020% | $11K | $675K | 50x | as long as short |
| KuCoin CAKEUSDTM | −0.0132% | 4h | 2.4987 | +0.040% | $2.4M | $5.2M | 50x | as long as short |
| Orderly PERP_CAKE_USDClong | −0.0101% | 4h | 2.4977 | long leg | $7K | $14K | 10x | |
| Injective CAKE/USDC PERP | +0.0033% | 1h | 2.5440 | +1.854% | $113 | $52K | 5.5x | as long as short |
| MEXC CAKE_USDT | +0.0050% | 4h | 2.4976 | −0.004% | $13.3M | $2.7M | 125x | as long as short |
| Binance CAKEUSDT | +0.0051% | 4h | 2.4973 | −0.015% | $17.6M | $29.5M | 75x | as long as short |
| BloFin CAKE-USDT | +0.0087% | 4h | 2.4974 | −0.012% | $988K | $313K | 75x | as long as short |
| Hyperliquid CAKE | +0.0100% | 1h | 2.4995 | +0.072% | $3.1M | $1.9M | 3x | as long as short |
Bybit CAKEUSDT
ApeX Omni CAKEUSDT
KuCoin CAKEUSDTM
Injective CAKE/USDC PERP
MEXC CAKE_USDT
Binance CAKEUSDT
BloFin CAKE-USDT
Hyperliquid CAKEShow all 16 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster CAKEUSDT | +0.0100% | 4h | 2.5005 | +0.112% | $2.4M | $77K | 10x | as long as short |
| Gate CAKE_USDT | +0.0100% | 4h | 2.4967 | −0.040% | $865K | $588K | 75x | as long as short |
| Bitget CAKEUSDT | +0.0100% | 4h | 2.4988 | +0.044% | $2.5M | $2.2M | 75x | as long as short |
| BingX CAKE-USDT | +0.0100% | 4h | 2.4977 | 0.000% | — | $3.8M | — | as long as short |
| Kraken Futures PF_CAKEUSD | +0.0379% | 1h | 2.5029 | +0.208% | $52K | $34K | 10x | as long as short |
| GMX CAKE/USD [WBTC.b-USDC] | L +0.0416% / S −0.0269% | 1h | 2.4998 | +0.085% | $37K | — | 100x | as long as short |
Aster CAKEUSDT
Gate CAKE_USDT
Bitget CAKEUSDT
BingX CAKE-USDT
Kraken Futures PF_CAKEUSD
GMX CAKE/USD [WBTC.b-USDC]