CAKE

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0254%/8h= −27.8% APRnext payment −$0.32 per $10,000 · paid last 24h −0.223%

Price spread now: Hyperliquid against Kraken Futures−0.198%7-day average — · you buy dearer than you sell

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

Long on Kraken Futures Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.766%−$77 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 −$8 a day on $10k at the current rate, and Hyperliquid is 0.198% cheaper against Kraken Futures than usual: you would sell low and buy high (−$20 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_CAKEUSD	2.4898	0.0354	pay 0.0044% / 1h	0m 11s	$52K	$37K	10x
Short	Hyperliquid CAKE	2.4849	0.0100	get 0.0013% / 1h	0m 11s	$3.1M	$2.2M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now −0.198%Rate

Funding earned: −$53.38
Price spread: −0.198% → 0.000%: −$19.83
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$92.21
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Kraken Futures: no order-book sample; Hyperliquid: live order book, 1 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 Hyperliquid live order book, 1 min ago	0.20 bp	13.4 bp −$13	doesn't fit	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 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
ApeX Omni CAKEUSDT	−0.0109%	1h	2.4889	−0.038%	$10K	$677K	50x	as long as short
Bybit CAKEUSDT	−0.0049%	4h	2.4830	−0.275%	$5.1M	$3.5M	50x	as long as short
Orderly PERP_CAKE_USDC	−0.0013%	4h	2.4827	−0.287%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	+2.175%	$113	$52K	5.5x	as long as short
BloFin CAKE-USDT	+0.0063%	4h	2.4838	−0.242%	$988K	$318K	75x	as long as short
Hyperliquid CAKEshort	+0.0100%	1h	2.4849	−0.198%	$3.1M	$2.2M	3x
Aster CAKEUSDT	+0.0100%	4h	2.4841	−0.231%	$2.3M	$80K	10x	as long as short
Binance CAKEUSDT	+0.0100%	4h	2.4832	−0.267%	$17.6M	$31.2M	75x	as long as short
Gate CAKE_USDT	+0.0100%	4h	2.4815	−0.335%	$863K	$639K	75x	as long as short
MEXC CAKE_USDT	+0.0100%	4h	2.4833	−0.263%	$13.1M	$2.8M	125x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin CAKEUSDTM	+0.0100%	4h	2.4820	−0.315%	$2.4M	$5.4M	50x	as long as short
Bitget CAKEUSDT	+0.0100%	4h	2.4849	−0.198%	$2.4M	$2.4M	75x	as long as short
BingX CAKE-USDT	+0.0100%	4h	2.4832	−0.267%	—	$3.8M	—	as long as short
Variational Omni CAKE	+0.0100%	4h	2.4806	−0.372%	$508K	$470K	—	as long as short
Kraken Futures PF_CAKEUSDlong	+0.0354%	1h	2.4898	long leg	$52K	$37K	10x
GMX CAKE/USD [WBTC.b-USDC]	L +0.0414% / S −0.0269%	1h	2.4848	−0.204%	$37K	—	100x	as long as short