Funding arb · Price arb /

BERA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0106%/8h= −11.6% APRpaid last 24h −0.040%

Price spread now: Orderly against GMX−0.019%7-day average — · you buy dearer than you sell

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

Long on GMX Short on Orderly

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 sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX BERA/USD [ETH-USDC]	0.2269	L +0.0206% / S −0.0592%	pay 0.0026% / 1h	35m 30s	$2K	—	100x
Short	Orderly PERP_BERA_USDC	0.2269	0.0100	get 0.0050% / 4h	2h 35m	$9K	$1K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.019%Rate

Funding earned: −$22.18
Price spread: −0.019% → 0.000%: −$1.94
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$42.12
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Orderly: 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 GMX no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

GMX and Orderly: 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	0.2132	−6.056%	$2K	$4K	12x	as long as short
Kraken Futures PF_BERAUSD	−0.0565%	1h	0.2268	−0.077%	$51K	$27K	20x	as long as short
Coinbase International BERA-PERP-INTX	−0.0304%	1h	0.2259	−0.460%	$10K	$45K	50x	as long as short
01 Exchange BERAUSD	−0.0056%	1h	0.2272	+0.113%	$4K	$2K	5x	as long as short
Deribit BERA_USDC-PERPETUAL	0.0000%	1h	0.2269	−0.019%	$4K	$62K	25x	as long as short
Variational Omni BERA	+0.0058%	4h	0.2264	−0.239%	$83K	$49K	—	as long as short
Lighter BERA	+0.0096%	1h	0.2270	+0.042%	$63K	$93K	5x	as long as short
Aster BERAUSDT	+0.0100%	4h	0.2292	+0.994%	$14K	$28K	5x	as long as short
Binance BERAUSDT	+0.0100%	4h	0.2272	+0.096%	$5.5M	$13.7M	50x	as long as short
Bybit BERAUSDT	+0.0100%	4h	0.2267	−0.108%	$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	0.2267	−0.108%	$1.5M	$3.3M	20x	as long as short
Gate BERA_USDT	+0.0100%	4h	0.2266	−0.152%	$338K	$388K	50x	as long as short
MEXC BERA_USDT	+0.0100%	4h	0.2270	+0.025%	$1.2M	$435K	20x	as long as short
KuCoin BERAUSDTM	+0.0100%	4h	0.2264	−0.240%	$549K	$220K	50x	as long as short
Bitget BERAUSDT	+0.0100%	4h	0.2270	+0.025%	$1.5M	$1.1M	50x	as long as short
BingX BERA-USDT	+0.0100%	4h	0.2268	−0.063%	—	$6.6M	—	as long as short
GRVT BERA_USDT_Perp	+0.0100%	4h	0.2272	+0.113%	$105K	$2.9M	10x	as long as short
ApeX Omni BERAUSDT	+0.0100%	1h	0.2270	+0.025%	$32K	$455K	50x	as long as short
Orderly PERP_BERA_USDCshort	+0.0100%	4h	0.2269	−0.019%	$9K	$1K	10x
SoDEX BERA-USD	+0.0100%	1h	0.2269	−0.006%	$372	$6K	5x	as long as short
BloFin BERA-USDT	+0.0119%	4h	0.2272	+0.113%	$294K	$88K	75x	as long as short
GMX BERA/USD [ETH-USDC]long	L +0.0206% / S −0.0592%	1h	0.2269	long leg	$2K	—	100x
Backpack BERA_USDC_PERP	+0.0548%	1h	0.2272	+0.095%	$39K	$149K	5x	as long as short
Hyperliquid BERA	+0.0896%	1h	0.2276	+0.271%	$2.9M	$984K	5x	as long as short