Funding you earn now, next payment 02:00 UTC+0.0901%/8h= +98.7% APRnext payment +$1.13 per $10,000 · paid last 24h +0.076%
Price spread now: Backpack against Deribit+0.227%50s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.531%+$53 on $10k
+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 +$27 a day on $10k at the current rate, and Backpack is 0.227% dearer against Deribit than usual: you sell high and buy low: +$23 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.531% in total (about 28.8% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.13 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit BERA_USDC-PERPETUAL | 0.2248 | 0.0195 | pay 0.0024% / 1h | 10m 16s | $4K | $54K | 25x |
| Short | Backpack BERA_USDC_PERP | 0.2253 | 0.1096 | get 0.0137% / 1h | 10m 16s | $40K | $167K | 5x |
Deribit BERA_USDC-PERPETUAL
Backpack BERA_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Deribit. 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
- $189.23
- Price spread: +0.227% → 0.000%
- $22.69
- Slippage, 4 orders
- no order book: not counted
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $194.91
- Costs to cover
- 0.170%
- Break-even
- from the start
Slippage unknown: Deribit: no order-book sample; Backpack: live order book, 58 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 Deribit no order-book sample | — | — | — | — | — |
| Sell Backpack live order book, 58 min ago | 0.22 bp | 8.9 bp −$9 | doesn't fit | doesn't fit | doesn't fit |
Deribit: 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.
BERA on 23 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 | 0.2117 | −5.827% | $2K | $5K | 12x | as long as short |
| Kraken Futures PF_BERAUSD | −0.1067% | 1h | 0.2246 | −0.080% | $50K | $25K | 20x | as long as short |
| Coinbase International BERA-PERP-INTX | −0.0280% | 1h | 0.2234 | −0.623% | $15K | $51K | 50x | as long as short |
| Lighter BERA | +0.0096% | 1h | 0.2248 | +0.018% | $61K | $89K | 5x | as long as short |
| Aster BERAUSDT | +0.0100% | 4h | 0.2252 | +0.178% | $15K | $26K | 5x | as long as short |
| Binance BERAUSDT | +0.0100% | 4h | 0.2249 | +0.044% | $5.3M | $14.0M | 50x | as long as short |
| Bybit BERAUSDT | +0.0100% | 4h | 0.2247 | −0.044% | $3.0M | $4.1M | 25x | as long as short |
| OKX BERA-USDT-SWAP | +0.0100% | 4h | 0.2246 | −0.089% | $1.4M | $3.2M | 20x | as long as short |
| Gate BERA_USDT | +0.0100% | 4h | 0.2250 | +0.089% | $336K | $389K | 50x | as long as short |
| MEXC BERA_USDT | +0.0100% | 4h | 0.2249 | +0.044% | $1.2M | $447K | 20x | as long as short |
Injective BERA/USDC PERP
Kraken Futures PF_BERAUSD
Coinbase International BERA-PERP-INTX
Lighter BERA
Aster BERAUSDT
Binance BERAUSDT
Bybit BERAUSDT
OKX BERA-USDT-SWAP
Gate BERA_USDT
MEXC BERA_USDTShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin BERAUSDTM | +0.0100% | 4h | 0.2250 | +0.089% | $536K | $232K | 50x | as long as short |
| Bitget BERAUSDT | +0.0100% | 4h | 0.2249 | +0.044% | $1.4M | $1.1M | 50x | as long as short |
| BingX BERA-USDT | +0.0100% | 4h | 0.2250 | +0.089% | — | $6.6M | — | as long as short |
| Variational Omni BERA | +0.0100% | 4h | 0.2247 | −0.062% | $83K | $48K | — | as long as short |
| ApeX Omni BERAUSDT | +0.0100% | 1h | 0.2260 | +0.534% | $32K | $458K | 50x | as long as short |
| Orderly PERP_BERA_USDC | +0.0100% | 4h | 0.2248 | 0.000% | $8K | $883 | 10x | as long as short |
| SoDEX BERA-USD | +0.0100% | 1h | 0.2248 | −0.022% | $363 | $6K | 5x | as long as short |
| Deribit BERA_USDC-PERPETUALlong | +0.0195% | 1h | 0.2248 | long leg | $4K | $54K | 25x | |
| GMX BERA/USD [ETH-USDC] | L +0.0206% / S −0.0592% | 1h | 0.2247 | −0.023% | $2K | — | 100x | as long as short |
| Hyperliquid BERA | +0.0340% | 1h | 0.2254 | +0.249% | $2.9M | $925K | 5x | as long as short |
| 01 Exchange BERAUSD | +0.0440% | 1h | 0.2251 | +0.133% | $3K | $3K | 5x | as long as short |
| GRVT BERA_USDT_Perp | +0.0444% | 4h | 0.2255 | +0.311% | $111K | $3.1M | 10x | as long as short |
| Backpack BERA_USDC_PERPshort | +0.1096% | 1h | 0.2253 | +0.227% | $40K | $167K | 5x |
KuCoin BERAUSDTM
Bitget BERAUSDT
BingX BERA-USDT
Variational Omni BERA
ApeX Omni BERAUSDT
Orderly PERP_BERA_USDC
SoDEX BERA-USD
GMX BERA/USD [ETH-USDC]
Hyperliquid BERA
01 Exchange BERAUSD
GRVT BERA_USDT_Perp