Funding you earn now, next payment 03:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.019%
Price spread now: Injective against Bybit+1.306%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.108%+$11 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
The price spread pays, funding is against you. Injective is 1.306% dearer against Bybit than usual: you sell high and buy low (spread +1.306% now, against zero (this spread has no 7-day history yet)): +$131 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2 months. Mind the row above: over the last 7 days funding on this pair paid +0.108%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit CAKEUSDT | 2.5112 | 0.0100 | pay 0.0050% / 4h | 1h 31m | $5.2M | $3.6M | 50x |
| Short | Injective CAKE/USDC PERP | 2.5440 | 0.0033 | get 0.0004% / 1h | 31m 06s | $113 | $52K | 5.5x |
Bybit CAKEUSDT
Injective CAKE/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective against Bybit. 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
- −$14
- Price spread: +1.306% → 0.000%
- $130.61
- Slippage, 4 orders
- no order book: not counted
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- $105.59
- Costs to cover
- 0.110%
- Break-even
- from the start
Slippage unknown: Bybit: live order book, 2 min ago; 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 Bybit live order book, 2 min ago | 1.99 bp | 23.3 bp −$23 | 52.4 bp −$524 | doesn't fit | doesn't fit |
| Sell Injective no order-book sample | — | — | — | — | — |
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 | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_CAKE_USDC | +0.0013% | 4h | 2.5127 | +0.060% | $7K | $14K | 10x | as long as short |
| Injective CAKE/USDC PERPshort | +0.0033% | 1h | 2.5440 | +1.306% | $113 | $52K | 5.5x | |
| ApeX Omni CAKEUSDT | +0.0074% | 1h | 2.5136 | +0.096% | $11K | $683K | 50x | as long as short |
| Hyperliquid CAKE | +0.0100% | 1h | 2.5160 | +0.191% | $3.1M | $2.5M | 3x | as long as short |
| Aster CAKEUSDT | +0.0100% | 4h | 2.5150 | +0.151% | $2.4M | $72K | 10x | as long as short |
| Binance CAKEUSDT | +0.0100% | 4h | 2.5139 | +0.108% | $17.9M | $31.5M | 75x | as long as short |
| Bybit CAKEUSDTlong | +0.0100% | 4h | 2.5112 | long leg | $5.2M | $3.6M | 50x | |
| Gate CAKE_USDT | +0.0100% | 4h | 2.5114 | +0.008% | $875K | $649K | 75x | as long as short |
| MEXC CAKE_USDT | +0.0100% | 4h | 2.5133 | +0.084% | $13.7M | $2.9M | 125x | as long as short |
| KuCoin CAKEUSDTM | +0.0100% | 4h | 2.5137 | +0.100% | $2.5M | $5.5M | 50x | as long as short |
Orderly PERP_CAKE_USDC
ApeX Omni CAKEUSDT
Hyperliquid CAKE
Aster CAKEUSDT
Binance 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 | 2.5140 | +0.112% | $2.6M | $2.3M | 75x | as long as short |
| BingX CAKE-USDT | +0.0100% | 4h | 2.5125 | +0.052% | — | $3.7M | — | as long as short |
| Variational Omni CAKE | +0.0100% | 4h | 2.5110 | −0.009% | $521K | $470K | — | as long as short |
| BloFin CAKE-USDT | +0.0125% | 4h | 2.5142 | +0.119% | $997K | $373K | 75x | as long as short |
| GMX CAKE/USD [WBTC.b-USDC] | L +0.0416% / S −0.0269% | 1h | 2.5135 | +0.093% | $37K | — | 100x | as long as short |
| Kraken Futures PF_CAKEUSD | +0.1553% | 1h | 2.5159 | +0.189% | $54K | $37K | 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