Funding you earn now, next payment 23:00 UTC+0.0754%/8h= +82.6% APRpaid last 24h +0.278%
Price spread now: Kraken Futures against Orderly+0.132%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
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
Both sides work for this trade now. Funding pays +$23 a day on $10k at the current rate, and Kraken Futures is 0.132% dearer against Orderly than usual: you sell high and buy low: +$13 more if the spread goes back to zero (this spread has no 7-day history yet).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_CAKE_USDC | 2.5444 | 0.0022 | pay 0.0011% / 4h | 1h 08m | $7K | $14K | 10x |
| Short | Kraken Futures PF_CAKEUSD | 2.5478 | 0.0776 | get 0.0097% / 1h | 8m 09s | $57K | $37K | 10x |
Orderly PERP_CAKE_USDC
Kraken Futures PF_CAKEUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Orderly. 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
- $158.4
- Price spread: +0.132% → 0.000%
- $13.2
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $155.61
- Costs to cover
- 0.160%
- Break-even
- 0.1 days
Slippage unknown: Orderly: no order-book sample; 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 Orderly no order-book sample | — | — | — | — | — |
| Sell Kraken Futures no order-book sample | — | — | — | — | — |
Orderly and 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 | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_CAKE_USDClong | +0.0022% | 4h | 2.5444 | long leg | $7K | $14K | 10x | |
| Injective CAKE/USDC PERP | +0.0033% | 1h | 2.5440 | −0.016% | $113 | $52K | 5.5x | as long as short |
| BloFin CAKE-USDT | +0.0063% | 4h | 2.5439 | −0.020% | $994K | $363K | 75x | as long as short |
| Hyperliquid CAKE | +0.0100% | 1h | 2.5483 | +0.153% | $3.2M | $2.8M | 3x | as long as short |
| Aster CAKEUSDT | +0.0100% | 4h | 2.5462 | +0.071% | $2.4M | $87K | 10x | as long as short |
| Binance CAKEUSDT | +0.0100% | 4h | 2.5450 | +0.025% | $18.3M | $37.5M | 75x | as long as short |
| Bybit CAKEUSDT | +0.0100% | 4h | 2.5440 | −0.016% | $5.3M | $4.0M | 50x | as long as short |
| Gate CAKE_USDT | +0.0100% | 4h | 2.5444 | 0.000% | $890K | $768K | 75x | as long as short |
| MEXC CAKE_USDT | +0.0100% | 4h | 2.5446 | +0.008% | $14.1M | $2.8M | 125x | as long as short |
| KuCoin CAKEUSDTM | +0.0100% | 4h | 2.5453 | +0.035% | $2.5M | $5.7M | 50x | as long as short |
Injective CAKE/USDC PERP
BloFin CAKE-USDT
Hyperliquid CAKE
Aster CAKEUSDT
Binance CAKEUSDT
Bybit CAKEUSDT
Gate CAKE_USDT
MEXC CAKE_USDT
KuCoin CAKEUSDTMShow all 16 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget CAKEUSDT | +0.0100% | 4h | 2.5465 | +0.083% | $2.7M | $2.8M | 75x | as long as short |
| BingX CAKE-USDT | +0.0100% | 4h | 2.5447 | +0.012% | — | $3.6M | — | as long as short |
| Variational Omni CAKE | +0.0100% | 4h | 2.5437 | −0.029% | $533K | $492K | — | as long as short |
| ApeX Omni CAKEUSDT | +0.0100% | 1h | 2.5410 | −0.134% | $13K | $700K | 50x | as long as short |
| GMX CAKE/USD [WBTC.b-USDC] | L +0.0421% / S −0.0272% | 1h | 2.5459 | +0.061% | $38K | — | 100x | as long as short |
| Kraken Futures PF_CAKEUSDshort | +0.0776% | 1h | 2.5478 | +0.132% | $57K | $37K | 10x |
Bitget CAKEUSDT
BingX CAKE-USDT
Variational Omni CAKE
ApeX Omni CAKEUSDT
GMX CAKE/USD [WBTC.b-USDC]