CAKE

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0732%/8h= −80.1% APRnext payment −$0.91 per $10,000 · paid last 24h −0.261%

Price spread now: ApeX Omni against Kraken Futures+0.186%75s7-day average — · you sell dearer than you buy

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

Long on Kraken Futures Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.854%−$85 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. ApeX Omni is 0.186% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.186% now, against zero (this spread has no 7-day history yet)): +$19 on $10k if it goes back. Holding the pair costs −$22 a day in funding at the current rate, which eats that in about 20 hours. The two prices were read 75 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_CAKEUSD	2.5197	0.0832	pay 0.0104% / 1h	19m 40s	$54K	$37K	10x
Short	ApeX Omni CAKEUSDT	2.5244	0.0100	get 0.0013% / 1h	19m 40s	$11K	$682K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Kraken Futures. 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 Kraken FuturesbpFee ApeX OmnibpOrdersPrice spread, now +0.186%Rate

Funding earned: −$153.63
Price spread: +0.186% → 0.000%: $18.62
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$155.01
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Kraken Futures: no order-book sample; ApeX Omni: live order book, 49 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 Kraken Futures no order-book sample	—	—	—	—	—
Sell ApeX Omni live order book, 49 min ago	5.90 bp	12.9 bp −$13	96.0 bp −$960	doesn't fit	doesn't fit

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 15 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	+0.0014%	4h	2.5182	−0.060%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	+0.964%	$113	$52K	5.5x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5200	+0.012%	$3.1M	$2.6M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.5206	+0.034%	$2.4M	$76K	10x	as long as short
Binance CAKEUSDT	+0.0100%	4h	2.5173	−0.096%	$18.0M	$33.8M	75x	as long as short
Bybit CAKEUSDT	+0.0100%	4h	2.5141	−0.223%	$5.3M	$3.7M	50x	as long as short
Gate CAKE_USDT	+0.0100%	4h	2.5164	−0.131%	$877K	$670K	75x	as long as short
MEXC CAKE_USDT	+0.0100%	4h	2.5172	−0.100%	$13.7M	$2.9M	125x	as long as short
KuCoin CAKEUSDTM	+0.0100%	4h	2.5173	−0.096%	$2.4M	$5.5M	50x	as long as short
Bitget CAKEUSDT	+0.0100%	4h	2.5193	−0.016%	$2.6M	$2.5M	75x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX CAKE-USDT	+0.0100%	4h	2.5167	−0.119%	—	$3.5M	—	as long as short
Variational Omni CAKE	+0.0100%	4h	2.5190	−0.027%	$536K	$458K	—	as long as short
ApeX Omni CAKEUSDTshort	+0.0100%	1h	2.5244	+0.186%	$11K	$682K	50x
GMX CAKE/USD [WBTC.b-USDC]	L +0.0417% / S −0.0269%	1h	2.5197	+0.001%	$37K	—	100x	as long as short
Kraken Futures PF_CAKEUSDlong	+0.0832%	1h	2.5197	long leg	$54K	$37K	10x