Funding you earn now, next payment 02:00 UTC−0.0182%/8h= −20.0% APRnext payment −$0.23 per $10,000 · paid last 24h −0.011%
Price spread now: Hyperliquid against Backpack+0.355%7-day average +0.032% · you sell dearer than you buy
Net, funding: paid 7d − costs−$60as in the Funding arb table
Net, price: spread back to 7d avg − costs−$10as in the Price arb table
costs, in and out, $10k−$430.427% of the position
Funding, last 7 days−0.171%−$17 on $10k
+Price spread, last 4 days (all we have)−0.298%−$30 · spread now +0.355%, 7d avg +0.032%
=Together, before fees−0.469%+ Points / potential airdropHyperliquid: Season 2 · farm board−$47 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Hyperliquid is 0.323% dearer against Backpack than usual: you sell high and buy low (spread +0.355% now, against its 7-day average of +0.032%): +$32 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 5.9 days. At the pace of the last 7 days (−0.171% in total) that is about 13 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack BERA_USDC_PERP | 0.2251 | 0.0426 | pay 0.0053% / 1h | 53m 13s | $36K | $152K | 5x |
| Short | Hyperliquid BERA | 0.2259 | 0.0244 | get 0.0030% / 1h | 53m 13s | $2.9M | $914K | 5x |
Backpack BERA_USDC_PERP
Hyperliquid BERAFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Backpack. 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
- −$38.3
- Price spread: +0.355% → +0.032%
- $32.33
- Slippage, 4 orders
- −$23.72
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$48.7
- Costs to cover
- 0.427%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 15 min ago; Hyperliquid: live order book, 8 min ago.
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 Backpack live order book, 15 min ago | 0.22 bp | 11.5 bp −$12 | doesn't fit | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 8 min ago | 0.88 bp | 7.7 bp −$8 | doesn't fit | doesn't fit | doesn't fit |
BERA on 24 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective BERA/USDC PERP | −0.5000% | 1h | 0.2115 | −6.033% | $2K | $5K | 12x | as long as short |
| Kraken Futures PF_BERAUSD | −0.1064% | 1h | 0.2254 | +0.156% | $51K | $25K | 20x | as long as short |
| Coinbase International BERA-PERP-INTX | −0.0280% | 1h | 0.2241 | −0.435% | $15K | $51K | 50x | as long as short |
| Variational Omni BERA | −0.0102% | 4h | 0.2243 | −0.362% | $83K | $49K | — | as long as short |
| BloFin BERA-USDT | +0.0095% | 4h | 0.2260 | +0.409% | $289K | $88K | 75x | as long as short |
| Lighter BERA | +0.0096% | 1h | 0.2257 | +0.293% | $61K | $89K | 5x | as long as short |
| Aster BERAUSDT | +0.0100% | 4h | 0.2254 | +0.144% | $13K | $25K | 5x | as long as short |
| Binance BERAUSDT | +0.0100% | 4h | 0.2259 | +0.373% | $5.4M | $13.8M | 50x | as long as short |
| Bybit BERAUSDT | +0.0100% | 4h | 0.2256 | +0.231% | $3.0M | $4.1M | 25x | as long as short |
| OKX BERA-USDT-SWAP | +0.0100% | 4h | 0.2258 | +0.320% | $1.5M | $3.2M | 20x | as long as short |
Injective BERA/USDC PERP
Kraken Futures PF_BERAUSD
Coinbase International BERA-PERP-INTX
Variational Omni BERA
BloFin BERA-USDT
Lighter BERA
Aster BERAUSDT
Binance BERAUSDT
Bybit BERAUSDT
OKX BERA-USDT-SWAPShow all 24 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate BERA_USDT | +0.0100% | 4h | 0.2253 | +0.098% | $333K | $371K | 50x | as long as short |
| MEXC BERA_USDT | +0.0100% | 4h | 0.2258 | +0.320% | $1.2M | $441K | 20x | as long as short |
| KuCoin BERAUSDTM | +0.0100% | 4h | 0.2254 | +0.142% | $537K | $230K | 50x | as long as short |
| Bitget BERAUSDT | +0.0100% | 4h | 0.2255 | +0.187% | $1.4M | $1.1M | 50x | as long as short |
| BingX BERA-USDT | +0.0100% | 4h | 0.2254 | +0.142% | — | $6.6M | — | as long as short |
| ApeX Omni BERAUSDT | +0.0100% | 1h | 0.2260 | +0.409% | $32K | $464K | 50x | as long as short |
| Orderly PERP_BERA_USDC | +0.0100% | 4h | 0.2256 | +0.231% | $8K | $686 | 10x | as long as short |
| SoDEX BERA-USD | +0.0100% | 1h | 0.2257 | +0.275% | $367 | $6K | 5x | as long as short |
| GRVT BERA_USDT_Perp | +0.0120% | 4h | 0.2247 | −0.169% | $106K | $3.0M | 10x | as long as short |
| Deribit BERA_USDC-PERPETUAL | +0.0193% | 1h | 0.2258 | +0.320% | $4K | $56K | 25x | as long as short |
| GMX BERA/USD [ETH-USDC] | L +0.0206% / S −0.0592% | 1h | 0.2256 | +0.243% | $2K | — | 100x | as long as short |
| Hyperliquid BERAshort | +0.0244% | 1h | 0.2259 | +0.355% | $2.9M | $914K | 5x | |
| 01 Exchange BERAUSD | +0.0248% | 1h | 0.2257 | +0.275% | $4K | $2K | 5x | as long as short |
| Backpack BERA_USDC_PERPlong | +0.0426% | 1h | 0.2251 | long leg | $36K | $152K | 5x |
Gate BERA_USDT
MEXC BERA_USDT
KuCoin BERAUSDTM
Bitget BERAUSDT
BingX BERA-USDT
ApeX Omni BERAUSDT
Orderly PERP_BERA_USDC
SoDEX BERA-USD
GRVT BERA_USDT_Perp
Deribit BERA_USDC-PERPETUAL
GMX BERA/USD [ETH-USDC]
01 Exchange BERAUSD