CAKE

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0075%/8h= −8.2% APRnext payment −$0.38 per $10,000 · paid last 24h −0.014%

Price spread now: Orderly against Variational Omni−0.039%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Variational Omni Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 3 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 −$2 a day on $10k at the current rate, and Orderly is 0.039% cheaper against Variational Omni than usual: you would sell low and buy high (−$4 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni CAKE	2.5436	0.0100	pay 0.0050% / 4h	3h 06m	$533K	$443K	—
Short	Orderly PERP_CAKE_USDC	2.5426	0.0025	get 0.0012% / 4h	3h 06m	$7K	$14K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Variational OmnibpFee OrderlybpOrdersPrice spread, now −0.039%Rate

Funding earned: −$15.8
Price spread: −0.039% → 0.000%: −$3.85
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$25.65
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Orderly: 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 Variational Omni RFQ quote, 2 min ago	4.68 bp	doesn't fit	76.0 bp −$760	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

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_USDCshort	+0.0025%	4h	2.5426	−0.039%	$7K	$14K	10x
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	+0.016%	$113	$52K	5.5x	as long as short
BloFin CAKE-USDT	+0.0041%	4h	2.5436	+0.001%	$998K	$359K	75x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5460	+0.095%	$3.2M	$2.6M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.5423	−0.051%	$2.4M	$78K	10x	as long as short
Binance CAKEUSDT	+0.0100%	4h	2.5418	−0.070%	$18.2M	$34.7M	75x	as long as short
Bybit CAKEUSDT	+0.0100%	4h	2.5396	−0.156%	$5.3M	$3.8M	50x	as long as short
Gate CAKE_USDT	+0.0100%	4h	2.5409	−0.105%	$892K	$684K	75x	as long as short
MEXC CAKE_USDT	+0.0100%	4h	2.5418	−0.070%	$14.0M	$2.8M	125x	as long as short
KuCoin CAKEUSDTM	+0.0100%	4h	2.5419	−0.066%	$2.5M	$5.5M	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget CAKEUSDT	+0.0100%	4h	2.5433	−0.011%	$2.7M	$2.5M	75x	as long as short
BingX CAKE-USDT	+0.0100%	4h	2.5410	−0.101%	—	$3.5M	—	as long as short
Variational Omni CAKElong	+0.0100%	4h	2.5436	long leg	$533K	$443K	—
ApeX Omni CAKEUSDT	+0.0100%	1h	2.5439	+0.013%	$11K	$697K	50x	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0421% / S −0.0272%	1h	2.5420	−0.064%	$38K	—	100x	as long as short
Kraken Futures PF_CAKEUSD	+0.0710%	1h	2.5465	+0.116%	$55K	$37K	10x	as long as short