Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.009%
Price spread now: Variational Omni against Hyperliquid−0.157%7-day average −0.056% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)−0.027%−$3 on $10k
+Price spread, last 3 days (all we have)+0.230%+$23 · spread now −0.157%, 7d avg −0.056%
=Together, before fees+0.203%+ Points / potential airdropHyperliquid: Season 2 · Variational Omni: Active · farm board+$20 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.101% cheaper against Hyperliquid than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of −0.056%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid CAKE | 2.5460 | 0.0100 | pay 0.0013% / 1h | 48m 19s | $3.1M | $3.3M | 3x |
| Short | Variational Omni CAKE | 2.5420 | 0.0100 | get 0.0050% / 4h | 2h 48m | $544K | $497K | — |
Hyperliquid CAKE
Variational Omni CAKEFunding history
latest
Range statsloading…
Price spread between the two exchanges
Variational Omni 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
- $0
- Price spread: −0.157% → −0.056%
- −$10.11
- Slippage, 4 orders
- no order book: not counted
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- −$19.11
- Costs to cover
- 0.090%
- Break-even
- never at this rate
Slippage unknown: Hyperliquid: live order book, 3 min ago; Variational Omni: RFQ quote, 40 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 Hyperliquid live order book, 3 min ago | 1.18 bp | doesn't fit | doesn't fit | doesn't fit | doesn't fit |
| Sell Variational Omni RFQ quote, 40 min ago | 6.63 bp | doesn't fit | 65.8 bp −$658 | doesn't fit | doesn't fit |
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 | +0.0005% | 4h | 2.5416 | −0.173% | $7K | $15K | 10x | as long as short |
| Injective CAKE/USDC PERP | +0.0033% | 1h | 2.5440 | −0.079% | $113 | $52K | 5.5x | as long as short |
| Hyperliquid CAKElong | +0.0100% | 1h | 2.5460 | long leg | $3.1M | $3.3M | 3x | |
| Aster CAKEUSDT | +0.0100% | 4h | 2.5438 | −0.086% | $2.4M | $99K | 10x | as long as short |
| Binance CAKEUSDT | +0.0100% | 4h | 2.5422 | −0.149% | $18.2M | $39.4M | 75x | as long as short |
| Bybit CAKEUSDT | +0.0100% | 4h | 2.5410 | −0.196% | $5.3M | $4.2M | 50x | as long as short |
| Gate CAKE_USDT | +0.0100% | 4h | 2.5436 | −0.094% | $886K | $858K | 75x | as long as short |
| MEXC CAKE_USDT | +0.0100% | 4h | 2.5420 | −0.157% | $14.2M | $2.9M | 125x | as long as short |
| KuCoin CAKEUSDTM | +0.0100% | 4h | 2.5436 | −0.094% | $2.5M | $5.7M | 50x | as long as short |
| Bitget CAKEUSDT | +0.0100% | 4h | 2.5413 | −0.185% | $2.7M | $3.0M | 75x | as long as short |
Orderly PERP_CAKE_USDC
Injective CAKE/USDC PERP
Aster CAKEUSDT
Binance CAKEUSDT
Bybit 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 | 2.5419 | −0.161% | — | $3.5M | — | as long as short |
| Variational Omni CAKEshort | +0.0100% | 4h | 2.5420 | −0.157% | $544K | $497K | — | |
| ApeX Omni CAKEUSDT | +0.0100% | 1h | 2.5429 | −0.122% | $13K | $695K | 50x | as long as short |
| BloFin CAKE-USDT | +0.0132% | 4h | 2.5413 | −0.185% | $993K | $346K | 75x | as long as short |
| GMX CAKE/USD [WBTC.b-USDC] | L +0.0420% / S −0.0272% | 1h | 2.5432 | −0.110% | $38K | — | 100x | as long as short |
| Kraken Futures PF_CAKEUSD | +0.0497% | 1h | 2.5490 | +0.120% | $57K | $39K | 10x | as long as short |
BingX CAKE-USDT
ApeX Omni CAKEUSDT
BloFin CAKE-USDT
GMX CAKE/USD [WBTC.b-USDC]
Kraken Futures PF_CAKEUSD