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: Backpack against Hyperliquid−0.354%7-day average −0.032% · you buy dearer than you sell
Net, funding: paid 7d − costs−$26as in the Funding arb table
Net, price: spread back to 7d avg − costs−$75as 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)+0.297%+$30 · spread now −0.354%, 7d avg −0.032%
=Together, before fees+0.467%+ Points / potential airdropHyperliquid: Season 2 · farm board+$47 on $10k · with fees, hour by hour
Funding pays, the price is against you. Backpack is 0.322% cheaper against Hyperliquid than usual: you would sell low and buy high (spread −0.354% now, against its 7-day average of −0.032%). If the spread goes back, that is −$32 on $10k: about 5.9 days of funding at the current rate (+$5 a day). 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 | Hyperliquid BERA | 0.2259 | 0.0244 | pay 0.0030% / 1h | 53m 12s | $2.9M | $914K | 5x |
| Short | Backpack BERA_USDC_PERP | 0.2251 | 0.0426 | get 0.0053% / 1h | 53m 12s | $36K | $152K | 5x |
Hyperliquid BERA
Backpack BERA_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Hyperliquid. 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: −0.354% → −0.032%
- −$32.2
- Slippage, 4 orders
- −$23.72
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$36.62
- Costs to cover
- 0.427%
- Break-even
- 13.7 days
Slippage from Hyperliquid: live order book, 8 min ago; Backpack: live order book, 15 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 Hyperliquid live order book, 8 min ago | 0.88 bp | 14.6 bp −$15 | doesn't fit | doesn't fit | doesn't fit |
| Sell Backpack live order book, 15 min ago | 0.22 bp | 8.9 bp −$9 | 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 | −6.366% | $2K | $5K | 12x | as long as short |
| Kraken Futures PF_BERAUSD | −0.1064% | 1h | 0.2254 | −0.199% | $51K | $25K | 20x | as long as short |
| Coinbase International BERA-PERP-INTX | −0.0280% | 1h | 0.2241 | −0.788% | $15K | $51K | 50x | as long as short |
| Variational Omni BERA | −0.0102% | 4h | 0.2243 | −0.715% | $83K | $49K | — | as long as short |
| BloFin BERA-USDT | +0.0095% | 4h | 0.2260 | +0.053% | $289K | $88K | 75x | as long as short |
| Lighter BERA | +0.0096% | 1h | 0.2257 | −0.062% | $61K | $89K | 5x | as long as short |
| Aster BERAUSDT | +0.0100% | 4h | 0.2254 | −0.211% | $13K | $25K | 5x | as long as short |
| Binance BERAUSDT | +0.0100% | 4h | 0.2259 | +0.018% | $5.4M | $13.8M | 50x | as long as short |
| Bybit BERAUSDT | +0.0100% | 4h | 0.2256 | −0.124% | $3.0M | $4.1M | 25x | as long as short |
| OKX BERA-USDT-SWAP | +0.0100% | 4h | 0.2258 | −0.035% | $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 | −0.257% | $333K | $371K | 50x | as long as short |
| MEXC BERA_USDT | +0.0100% | 4h | 0.2258 | −0.035% | $1.2M | $441K | 20x | as long as short |
| KuCoin BERAUSDTM | +0.0100% | 4h | 0.2254 | −0.213% | $537K | $230K | 50x | as long as short |
| Bitget BERAUSDT | +0.0100% | 4h | 0.2255 | −0.168% | $1.4M | $1.1M | 50x | as long as short |
| BingX BERA-USDT | +0.0100% | 4h | 0.2254 | −0.213% | — | $6.6M | — | as long as short |
| ApeX Omni BERAUSDT | +0.0100% | 1h | 0.2260 | +0.053% | $32K | $464K | 50x | as long as short |
| Orderly PERP_BERA_USDC | +0.0100% | 4h | 0.2256 | −0.124% | $8K | $686 | 10x | as long as short |
| SoDEX BERA-USD | +0.0100% | 1h | 0.2257 | −0.080% | $367 | $6K | 5x | as long as short |
| GRVT BERA_USDT_Perp | +0.0120% | 4h | 0.2247 | −0.522% | $106K | $3.0M | 10x | as long as short |
| Deribit BERA_USDC-PERPETUAL | +0.0193% | 1h | 0.2258 | −0.035% | $4K | $56K | 25x | as long as short |
| GMX BERA/USD [ETH-USDC] | L +0.0206% / S −0.0592% | 1h | 0.2256 | −0.112% | $2K | — | 100x | as long as short |
| Hyperliquid BERAlong | +0.0244% | 1h | 0.2259 | long leg | $2.9M | $914K | 5x | |
| 01 Exchange BERAUSD | +0.0248% | 1h | 0.2257 | −0.080% | $4K | $2K | 5x | as long as short |
| Backpack BERA_USDC_PERPshort | +0.0426% | 1h | 0.2251 | −0.354% | $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