Funding arb · Price arb /

BERA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0492%/8h= +53.9% APRpaid last 24h +0.124%

Price spread now: GMX against KuCoin−0.307%149s7-day average — · you buy dearer than you sell

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

Long on KuCoin Short on GMX

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

Funding pays, the price is against you. GMX is 0.307% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.307% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$31 on $10k: about 2.1 days of funding at the current rate (+$15 a day). The two prices were read 149 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin BERAUSDTM	0.2291	0.0100	pay 0.0050% / 4h	1h 32m	$548K	$132K	50x
Short	GMX BERA/USD [ETH-USDC]	0.2284	L +0.0206% / S −0.0592%	get 0.0074% / 1h	32m 45s	$2K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against KuCoin. 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 KuCoinbpFee GMXbpOrdersPrice spread, now −0.307%Rate

Funding earned: $103.42
Price spread: −0.307% → 0.000%: −$30.73
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: $48.69
Costs to cover: 0.240%
Break-even: 3.7 days

Slippage unknown: KuCoin: live order book, 11 min ago; GMX: 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 KuCoin live order book, 11 min ago	17.46 bp	76.0 bp −$76	155.9 bp −$1,559	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

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	−6.242%	$2K	$4K	12x	as long as short
Kraken Futures PF_BERAUSD	−0.1556%	1h	0.2294	+0.125%	$51K	$21K	20x	as long as short
BloFin BERA-USDT	+0.0046%	4h	0.2286	−0.218%	$279K	$75K	75x	as long as short
Orderly PERP_BERA_USDC	+0.0093%	4h	0.2294	+0.131%	$9K	$787	10x	as long as short
Lighter BERA	+0.0096%	1h	0.2292	+0.044%	$65K	$73K	5x	as long as short
Hyperliquid BERA	+0.0100%	1h	0.2294	+0.140%	$2.9M	$598K	5x	as long as short
Aster BERAUSDT	+0.0100%	4h	0.2292	+0.035%	$15K	$21K	5x	as long as short
Binance BERAUSDT	+0.0100%	4h	0.2291	+0.014%	$5.4M	$9.5M	50x	as long as short
Bybit BERAUSDT	+0.0100%	4h	0.2286	−0.218%	$3.1M	$2.2M	25x	as long as short
OKX BERA-USDT-SWAP	+0.0100%	4h	0.2287	−0.175%	$1.4M	$2.0M	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	0.2292	+0.044%	$349K	$262K	50x	as long as short
MEXC BERA_USDT	+0.0100%	4h	0.2292	+0.044%	$1.2M	$327K	20x	as long as short
KuCoin BERAUSDTMlong	+0.0100%	4h	0.2291	long leg	$548K	$132K	50x
Bitget BERAUSDT	+0.0100%	4h	0.2293	+0.087%	$1.5M	$765K	50x	as long as short
BingX BERA-USDT	+0.0100%	4h	0.2292	+0.044%	—	$6.6M	—	as long as short
Backpack BERA_USDC_PERP	+0.0100%	1h	0.2293	+0.087%	$24K	$205K	5x	as long as short
Variational Omni BERA	+0.0100%	4h	0.2281	−0.432%	$84K	$49K	—	as long as short
GRVT BERA_USDT_Perp	+0.0100%	4h	0.2290	−0.064%	$108K	$2.9M	10x	as long as short
ApeX Omni BERAUSDT	+0.0100%	1h	0.2290	−0.044%	$52K	$471K	50x	as long as short
SoDEX BERA-USD	+0.0100%	1h	0.2293	+0.105%	$369	$6K	5x	as long as short
01 Exchange BERAUSD	+0.0128%	1h	0.2294	+0.131%	$3K	$864	5x	as long as short
Deribit BERA_USDC-PERPETUAL	+0.0186%	1h	0.2294	+0.131%	$9K	$46K	25x	as long as short
GMX BERA/USD [ETH-USDC]short	L +0.0206% / S −0.0592%	1h	0.2284	−0.307%	$2K	—	100x
Coinbase International BERA-PERP-INTX	+0.0600%	1h	0.2313	+0.960%	$20K	$55K	50x	as long as short