Funding you earn now, next payment 03:00 UTC+0.1447%/8h= +158.4% APRpaid last 24h +0.243%
Price spread now: Kraken Futures against Bybit+0.582%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+0.906%+$91 on $10k
+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 +$43 a day on $10k at the current rate, and Kraken Futures is 0.582% dearer against Bybit than usual: you sell high and buy low: +$58 more if the spread goes back to zero (this spread has no 7-day history yet).
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.906% in total (about 47.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| 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 06m | $5.2M | $3.6M | 50x |
| Short | Kraken Futures PF_CAKEUSD | 2.5258 | 0.1547 | get 0.0193% / 1h | 6m 08s | $54K | $37K | 10x |
Bybit CAKEUSDT
Kraken Futures PF_CAKEUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures 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
- $303.79
- Price spread: +0.582% → 0.000%
- $58.17
- Slippage, 4 orders
- no order book: not counted
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $340.96
- Costs to cover
- 0.210%
- Break-even
- from the start
Slippage unknown: Bybit: live order book, 2 min ago; 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 Bybit live order book, 2 min ago | 3.97 bp | 21.0 bp −$21 | 53.3 bp −$533 | doesn't fit | doesn't fit |
| Sell Kraken Futures no order-book sample | — | — | — | — | — |
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_USDC | +0.0015% | 4h | 2.5119 | +0.028% | $7K | $14K | 10x | as long as short |
| Injective CAKE/USDC PERP | +0.0033% | 1h | 2.5440 | +1.306% | $113 | $52K | 5.5x | as long as short |
| Hyperliquid CAKE | +0.0100% | 1h | 2.5141 | +0.115% | $3.1M | $2.5M | 3x | as long as short |
| Aster CAKEUSDT | +0.0100% | 4h | 2.5130 | +0.070% | $2.4M | $72K | 10x | as long as short |
| Binance CAKEUSDT | +0.0100% | 4h | 2.5112 | +0.001% | $17.9M | $31.3M | 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 | 2.5139 | +0.108% | $876K | $650K | 75x | as long as short |
| MEXC CAKE_USDT | +0.0100% | 4h | 2.5121 | +0.036% | $13.7M | $2.9M | 125x | as long as short |
| KuCoin CAKEUSDTM | +0.0100% | 4h | 2.5133 | +0.084% | $2.4M | $5.5M | 50x | as long as short |
| Bitget CAKEUSDT | +0.0100% | 4h | 2.5142 | +0.119% | $2.6M | $2.3M | 75x | as long as short |
Orderly PERP_CAKE_USDC
Injective CAKE/USDC PERP
Hyperliquid CAKE
Aster CAKEUSDT
Binance CAKEUSDT
Gate CAKE_USDT
MEXC CAKE_USDT
KuCoin CAKEUSDTM
Bitget CAKEUSDTShow all 16 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX CAKE-USDT | +0.0100% | 4h | 2.5120 | +0.032% | — | $3.7M | — | as long as short |
| Variational Omni CAKE | +0.0100% | 4h | 2.5100 | −0.047% | $521K | $469K | — | as long as short |
| ApeX Omni CAKEUSDT | +0.0100% | 1h | 2.5186 | +0.295% | $11K | $681K | 50x | as long as short |
| BloFin CAKE-USDT | +0.0119% | 4h | 2.5174 | +0.247% | $999K | $356K | 75x | as long as short |
| GMX CAKE/USD [WBTC.b-USDC] | L +0.0416% / S −0.0269% | 1h | 2.5127 | +0.059% | $37K | — | 100x | as long as short |
| Kraken Futures PF_CAKEUSDshort | +0.1547% | 1h | 2.5258 | +0.582% | $54K | $37K | 10x |
BingX CAKE-USDT
Variational Omni CAKE
ApeX Omni CAKEUSDT
BloFin CAKE-USDT
GMX CAKE/USD [WBTC.b-USDC]