CAKE

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0085%/8h= +9.3% APRnext payment +$0.43 per $10,000 · paid last 24h +0.014%

Price spread now: Bybit against Orderly−0.063%7-day average — · you buy dearer than you sell

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

Long on Orderly Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Bybit is 0.063% cheaper against Orderly than usual: you would sell low and buy high (spread −0.063% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 2.5 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_CAKE_USDC	2.5243	0.0015	pay 0.0007% / 4h	2h 22m	$7K	$14K	10x
Short	Bybit CAKEUSDT	2.5227	0.0100	get 0.0050% / 4h	2h 22m	$5.3M	$3.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Orderly. 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 OrderlybpFee BybitbpOrdersPrice spread, now −0.063%Rate

Funding earned: $17.86
Price spread: −0.063% → 0.000%: −$6.34
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$5.48
Costs to cover: 0.170%
Break-even: 9.1 days

Slippage unknown: Orderly: no order-book sample; Bybit: live order book, 5 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 Orderly no order-book sample	—	—	—	—	—
Sell Bybit live order book, 5 min ago	1.98 bp	23.1 bp −$23	50.7 bp −$507	doesn't fit	doesn't fit

Orderly: 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_USDClong	+0.0015%	4h	2.5243	long leg	$7K	$14K	10x
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	+0.780%	$113	$52K	5.5x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5278	+0.139%	$3.2M	$2.6M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.5273	+0.117%	$2.4M	$76K	10x	as long as short
Binance CAKEUSDT	+0.0100%	4h	2.5245	+0.007%	$18.0M	$33.8M	75x	as long as short
Bybit CAKEUSDTshort	+0.0100%	4h	2.5227	−0.063%	$5.3M	$3.7M	50x
Gate CAKE_USDT	+0.0100%	4h	2.5240	−0.012%	$879K	$670K	75x	as long as short
MEXC CAKE_USDT	+0.0100%	4h	2.5257	+0.055%	$13.8M	$2.9M	125x	as long as short
KuCoin CAKEUSDTM	+0.0100%	4h	2.5256	+0.051%	$2.4M	$5.5M	50x	as long as short
Bitget CAKEUSDT	+0.0100%	4h	2.5266	+0.091%	$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	2.5247	+0.016%	—	$3.5M	—	as long as short
Variational Omni CAKE	+0.0100%	4h	2.5226	−0.068%	$536K	$458K	—	as long as short
ApeX Omni CAKEUSDT	+0.0100%	1h	2.5250	+0.028%	$11K	$682K	50x	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0417% / S −0.0269%	1h	2.5257	+0.057%	$37K	—	100x	as long as short
Kraken Futures PF_CAKEUSD	+0.0829%	1h	2.5276	+0.132%	$54K	$37K	10x	as long as short