Funding arb · Price arb /

BERA

all BERA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0799%/8h= +87.5% APRpaid last 24h +0.008%

Price spread now: Backpack against Gate+0.171%7-day average +0.014% · you sell dearer than you buy

Net, funding: paid 7d − costs−$115as in the Funding arb table

Net, price: spread back to 7d avg − costs−$96as in the Price arb table

costs, in and out, $10k−$1111.114% of the position

Long on Gate Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.036%−$4 on $10k

Price spread, last 4 days (all we have)−0.159%−$16 · spread now +0.171%, 7d avg +0.014%

Together, before fees−0.194%−$19 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$24 a day on $10k at the current rate, and Backpack is 0.158% dearer against Gate than usual: you sell high and buy low: +$16 more if the spread goes back to its 7-day average of +0.014%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.036% in total (about -1.9% a year). A funding rate is set anew for every payment. 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	Gate BERA_USDT	0.2278	0.0100	pay 0.0050% / 4h	2h 18m	$337K	$390K	50x
Short	Backpack BERA_USDC_PERP	0.2282	0.0899	get 0.0112% / 1h	18m 59s	$38K	$149K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Gate. 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 GatebpFee BackpackbpOrdersPrice spread, now +0.171%Rate

Funding earned: $167.83
Price spread: +0.171% → +0.014%: $15.77
Slippage, 4 orders: −$86.4
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Backpack: 5 bp × 2 orders: −$10
Net: $72.2
Costs to cover: 1.114%
Break-even: 4.0 days

Slippage from Gate: live order book, 1 min ago; Backpack: live order book, 4 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 Gate live order book, 1 min ago	6.58 bp	46.9 bp −$47	doesn't fit	doesn't fit	doesn't fit
Sell Backpack live order book, 4 min ago	0.22 bp	9.9 bp −$10	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	0.2145	−5.838%	$2K	$4K	12x	as long as short
Kraken Futures PF_BERAUSD	−0.0562%	1h	0.2281	+0.152%	$51K	$26K	20x	as long as short
Coinbase International BERA-PERP-INTX	−0.0304%	1h	0.2259	−0.834%	$10K	$45K	50x	as long as short
Deribit BERA_USDC-PERPETUAL	0.0000%	1h	0.2281	+0.132%	$4K	$62K	25x	as long as short
01 Exchange BERAUSD	+0.0032%	1h	0.2281	+0.132%	$4K	$2K	5x	as long as short
BloFin BERA-USDT	+0.0075%	4h	0.2281	+0.132%	$291K	$88K	75x	as long as short
Lighter BERA	+0.0096%	1h	0.2281	+0.114%	$63K	$93K	5x	as long as short
Aster BERAUSDT	+0.0100%	4h	0.2280	+0.086%	$13K	$28K	5x	as long as short
Binance BERAUSDT	+0.0100%	4h	0.2279	+0.044%	$5.5M	$13.6M	50x	as long as short
Bybit BERAUSDT	+0.0100%	4h	0.2276	−0.088%	$3.1M	$4.2M	25x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX BERA-USDT-SWAP	+0.0100%	4h	0.2276	−0.088%	$1.5M	$3.3M	20x	as long as short
Gate BERA_USDTlong	+0.0100%	4h	0.2278	long leg	$337K	$390K	50x
MEXC BERA_USDT	+0.0100%	4h	0.2279	+0.044%	$1.2M	$435K	20x	as long as short
KuCoin BERAUSDTM	+0.0100%	4h	0.2276	−0.088%	$552K	$220K	50x	as long as short
Bitget BERAUSDT	+0.0100%	4h	0.2279	+0.044%	$1.5M	$1.1M	50x	as long as short
BingX BERA-USDT	+0.0100%	4h	0.2281	+0.132%	—	$6.6M	—	as long as short
Variational Omni BERA	+0.0100%	4h	0.2277	−0.027%	$84K	$49K	—	as long as short
GRVT BERA_USDT_Perp	+0.0100%	4h	0.2280	+0.083%	$106K	$2.8M	10x	as long as short
ApeX Omni BERAUSDT	+0.0100%	1h	0.2280	+0.088%	$34K	$456K	50x	as long as short
Orderly PERP_BERA_USDC	+0.0100%	4h	0.2280	+0.088%	$9K	$1K	10x	as long as short
SoDEX BERA-USD	+0.0100%	1h	0.2280	+0.066%	$374	$6K	5x	as long as short
GMX BERA/USD [ETH-USDC]	L +0.0206% / S −0.0592%	1h	0.2280	+0.103%	$2K	—	100x	as long as short
Hyperliquid BERA	+0.0863%	1h	0.2285	+0.312%	$3.0M	$964K	5x	as long as short
Backpack BERA_USDC_PERPshort	+0.0899%	1h	0.2282	+0.171%	$38K	$149K	5x