Funding you earn now, next payment 09:00 UTC−0.0383%/8h= −41.9% APRnext payment −$0.48 per $10,000 · paid last 24h +0.183%
Price spread now: Kraken Futures against Hyperliquid−0.035%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.804%+$80 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories
Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and Kraken Futures is 0.035% cheaper against Hyperliquid 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. Mind the row above: over the last 7 days funding on this pair paid +0.804%, 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 | Hyperliquid CAKE | 2.4905 | 0.0100 | pay 0.0013% / 1h | 53m 36s | $3.1M | $1.8M | 3x |
| Short | Kraken Futures PF_CAKEUSD | 2.4896 | −0.0283 | pay 0.0035% / 1h | 53m 36s | $54K | $44K | 10x |
Hyperliquid CAKE
Kraken Futures PF_CAKEUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Hyperliquid. 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
- −$80.42
- Price spread: −0.035% → 0.000%
- −$3.55
- Slippage, 4 orders
- no order book: not counted
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$102.97
- Costs to cover
- 0.190%
- Break-even
- never at this rate
Slippage unknown: Hyperliquid: live order book, 8 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 Hyperliquid live order book, 8 min ago | 0.20 bp | doesn't fit | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| Bybit CAKEUSDT | −0.1904% | 4h | 2.4870 | −0.141% | $5.3M | $3.1M | 50x | as long as short |
| Variational Omni CAKE | −0.0307% | 4h | 2.4851 | −0.217% | $512K | $419K | — | as long as short |
| Kraken Futures PF_CAKEUSDshort | −0.0283% | 1h | 2.4896 | −0.035% | $54K | $44K | 10x | |
| Orderly PERP_CAKE_USDC | −0.0132% | 4h | 2.4899 | −0.024% | $7K | $14K | 10x | as long as short |
| ApeX Omni CAKEUSDT | −0.0112% | 1h | 2.4850 | −0.221% | $10K | $669K | 50x | as long as short |
| BloFin CAKE-USDT | +0.0009% | 4h | 2.4887 | −0.072% | $993K | $313K | 75x | as long as short |
| MEXC CAKE_USDT | +0.0024% | 4h | 2.4887 | −0.072% | $15.1M | $2.9M | 125x | as long as short |
| Binance CAKEUSDT | +0.0025% | 4h | 2.4886 | −0.075% | $17.5M | $27.4M | 75x | as long as short |
| Injective CAKE/USDC PERP | +0.0033% | 1h | 2.5440 | +2.148% | $113 | $52K | 5.5x | as long as short |
| KuCoin CAKEUSDTM | +0.0098% | 4h | 2.4900 | −0.020% | $2.4M | $5.1M | 50x | as long as short |
Bybit CAKEUSDT
Variational Omni CAKE
Orderly PERP_CAKE_USDC
ApeX Omni CAKEUSDT
BloFin CAKE-USDT
MEXC CAKE_USDT
Binance CAKEUSDT
Injective CAKE/USDC PERP
KuCoin CAKEUSDTMShow all 16 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid CAKElong | +0.0100% | 1h | 2.4905 | long leg | $3.1M | $1.8M | 3x | |
| Aster CAKEUSDT | +0.0100% | 4h | 2.4899 | −0.024% | $2.3M | $106K | 10x | as long as short |
| Gate CAKE_USDT | +0.0100% | 4h | 2.4865 | −0.161% | $888K | $586K | 75x | as long as short |
| Bitget CAKEUSDT | +0.0100% | 4h | 2.4880 | −0.100% | $2.6M | $2.1M | 75x | as long as short |
| BingX CAKE-USDT | +0.0100% | 4h | 2.4872 | −0.133% | — | $3.8M | — | as long as short |
| GMX CAKE/USD [WBTC.b-USDC] | L +0.0380% / S −0.0214% | 1h | 2.4925 | +0.082% | $37K | — | 100x | as long as short |
Aster CAKEUSDT
Gate CAKE_USDT
Bitget CAKEUSDT
BingX CAKE-USDT
GMX CAKE/USD [WBTC.b-USDC]