Funding arb · Price arb /

BERA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0106%/8h= −11.6% APRpaid last 24h −0.021%

Price spread now: Binance against GMX+0.203%7-day average — · you sell dearer than you buy

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

Long on GMX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 3 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

The price spread pays, funding is against you. Binance is 0.203% dearer against GMX than usual: you sell high and buy low (spread +0.203% now, against zero (this spread has no 7-day history yet)): +$20 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 6.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX BERA/USD [ETH-USDC]	0.2277	L +0.0206% / S −0.0592%	pay 0.0026% / 1h	17m 37s	$2K	—	100x
Short	Binance BERAUSDT	0.2281	0.0100	get 0.0050% / 4h	3h 17m	$5.6M	$13.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against GMX. 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 GMXbpFee BinancebpOrdersPrice spread, now +0.203%Rate

Funding earned: −$22.2
Price spread: +0.203% → 0.000%: $20.3
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$23.9
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Binance: live order book, 8 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 GMX no order-book sample	—	—	—	—	—
Sell Binance live order book, 8 min ago	2.18 bp	18.2 bp −$18	57.4 bp −$574	doesn't fit	doesn't fit

GMX: 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 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	0.2148	−5.650%	$2K	$5K	12x	as long as short
Kraken Futures PF_BERAUSD	−0.0529%	1h	0.2277	+0.025%	$51K	$25K	20x	as long as short
Coinbase International BERA-PERP-INTX	−0.0328%	1h	0.2276	−0.028%	$9K	$45K	50x	as long as short
Variational Omni BERA	−0.0170%	4h	0.2282	+0.219%	$84K	$49K	—	as long as short
Deribit BERA_USDC-PERPETUAL	0.0000%	1h	0.2277	+0.016%	$4K	$56K	25x	as long as short
Lighter BERA	+0.0096%	1h	0.2281	+0.210%	$62K	$90K	5x	as long as short
Aster BERAUSDT	+0.0100%	4h	0.2282	+0.254%	$13K	$24K	5x	as long as short
Binance BERAUSDTshort	+0.0100%	4h	0.2281	+0.203%	$5.6M	$13.5M	50x
Bybit BERAUSDT	+0.0100%	4h	0.2277	+0.016%	$3.1M	$4.1M	25x	as long as short
OKX BERA-USDT-SWAP	+0.0100%	4h	0.2278	+0.060%	$1.5M	$3.2M	20x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate BERA_USDT	+0.0100%	4h	0.2280	+0.148%	$339K	$376K	50x	as long as short
MEXC BERA_USDT	+0.0100%	4h	0.2280	+0.148%	$1.2M	$446K	20x	as long as short
KuCoin BERAUSDTM	+0.0100%	4h	0.2278	+0.060%	$542K	$228K	50x	as long as short
Bitget BERAUSDT	+0.0100%	4h	0.2281	+0.192%	$1.4M	$1.1M	50x	as long as short
BingX BERA-USDT	+0.0100%	4h	0.2279	+0.104%	—	$6.6M	—	as long as short
ApeX Omni BERAUSDT	+0.0100%	1h	0.2290	+0.587%	$32K	$456K	50x	as long as short
Orderly PERP_BERA_USDC	+0.0100%	4h	0.2277	+0.016%	$9K	$1K	10x	as long as short
SoDEX BERA-USD	+0.0100%	1h	0.2278	+0.082%	$371	$6K	5x	as long as short
BloFin BERA-USDT	+0.0114%	4h	0.2288	+0.499%	$291K	$90K	75x	as long as short
01 Exchange BERAUSD	+0.0184%	1h	0.2282	+0.236%	$4K	$2K	5x	as long as short
GRVT BERA_USDT_Perp	+0.0186%	4h	0.2287	+0.454%	$118K	$2.9M	10x	as long as short
Hyperliquid BERA	+0.0191%	1h	0.2286	+0.403%	$2.9M	$909K	5x	as long as short
GMX BERA/USD [ETH-USDC]long	L +0.0206% / S −0.0592%	1h	0.2277	long leg	$2K	—	100x
Backpack BERA_USDC_PERP	+0.0614%	1h	0.2283	+0.293%	$37K	$150K	5x	as long as short