Funding you earn now, next payment 03:00 UTC+0.0849%/8h= +93.0% APRpaid last 24h +0.082%
Price spread now: Backpack against Orderly−0.186%46s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 5 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. Backpack is 0.186% cheaper against Orderly than usual: you would sell low and buy high (spread −0.186% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$19 on $10k: about 17 hours of funding at the current rate (+$25 a day). The two prices were read 46 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 | Orderly PERP_BERA_USDC | 0.2264 | 0.0100 | pay 0.0050% / 4h | 1h 45m | $9K | $883 | 10x |
| Short | Backpack BERA_USDC_PERP | 0.2260 | 0.0949 | get 0.0119% / 1h | 45m 15s | $37K | $167K | 5x |
Orderly PERP_BERA_USDC
Backpack BERA_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Orderly. 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
- $178.31
- Price spread: −0.186% → 0.000%
- −$18.55
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $143.76
- Costs to cover
- 0.160%
- Break-even
- 1.4 days
Slippage unknown: Orderly: no order-book sample; Backpack: live order book, 18 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 Orderly no order-book sample | — | — | — | — | — |
| Sell Backpack live order book, 18 min ago | 0.66 bp | 11.1 bp −$11 | doesn't fit | doesn't fit | doesn't fit |
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 | 0.2124 | −6.184% | $2K | $5K | 12x | as long as short |
| Coinbase International BERA-PERP-INTX | −0.0376% | 1h | 0.2252 | −0.530% | $15K | $52K | 50x | as long as short |
| Kraken Futures PF_BERAUSD | −0.0185% | 1h | 0.2259 | −0.200% | $51K | $25K | 20x | as long as short |
| Lighter BERA | +0.0096% | 1h | 0.2257 | −0.318% | $61K | $88K | 5x | as long as short |
| Orderly PERP_BERA_USDClong | +0.0100% | 4h | 0.2264 | long leg | $9K | $883 | 10x | |
| Aster BERAUSDT | +0.0100% | 4h | 0.2256 | −0.347% | $16K | $26K | 5x | as long as short |
| Binance BERAUSDT | +0.0100% | 4h | 0.2262 | −0.100% | $5.3M | $14.0M | 50x | as long as short |
| Bybit BERAUSDT | +0.0100% | 4h | 0.2260 | −0.177% | $3.0M | $4.1M | 25x | as long as short |
| OKX BERA-USDT-SWAP | +0.0100% | 4h | 0.2262 | −0.088% | $1.4M | $3.2M | 20x | as long as short |
| Gate BERA_USDT | +0.0100% | 4h | 0.2256 | −0.353% | $341K | $389K | 50x | as long as short |
Injective BERA/USDC PERP
Coinbase International BERA-PERP-INTX
Kraken Futures PF_BERAUSD
Lighter BERA
Aster BERAUSDT
Binance BERAUSDT
Bybit BERAUSDT
OKX BERA-USDT-SWAP
Gate BERA_USDTShow all 24 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC BERA_USDT | +0.0100% | 4h | 0.2259 | −0.221% | $1.2M | $435K | 20x | as long as short |
| KuCoin BERAUSDTM | +0.0100% | 4h | 0.2256 | −0.353% | $538K | $229K | 50x | as long as short |
| Bitget BERAUSDT | +0.0100% | 4h | 0.2260 | −0.177% | $1.4M | $1.1M | 50x | as long as short |
| BingX BERA-USDT | +0.0100% | 4h | 0.2256 | −0.353% | — | $6.6M | — | as long as short |
| Variational Omni BERA | +0.0100% | 4h | 0.2255 | −0.393% | $82K | $49K | — | as long as short |
| ApeX Omni BERAUSDT | +0.0100% | 1h | 0.2250 | −0.618% | $32K | $454K | 50x | as long as short |
| SoDEX BERA-USD | +0.0100% | 1h | 0.2263 | −0.040% | $370 | $6K | 5x | as long as short |
| BloFin BERA-USDT | +0.0136% | 4h | 0.2255 | −0.398% | $279K | $74K | 75x | as long as short |
| GMX BERA/USD [ETH-USDC] | L +0.0206% / S −0.0592% | 1h | 0.2262 | −0.071% | $2K | — | 100x | as long as short |
| Hyperliquid BERA | +0.0349% | 1h | 0.2268 | +0.155% | $2.9M | $913K | 5x | as long as short |
| 01 Exchange BERAUSD | +0.0392% | 1h | 0.2263 | −0.044% | $3K | $3K | 5x | as long as short |
| GRVT BERA_USDT_Perp | +0.0402% | 4h | 0.2259 | −0.229% | $114K | $3.2M | 10x | as long as short |
| Deribit BERA_USDC-PERPETUAL | +0.0634% | 1h | 0.2265 | +0.044% | $4K | $54K | 25x | as long as short |
| Backpack BERA_USDC_PERPshort | +0.0949% | 1h | 0.2260 | −0.186% | $37K | $167K | 5x |
MEXC BERA_USDT
KuCoin BERAUSDTM
Bitget BERAUSDT
BingX BERA-USDT
Variational Omni BERA
ApeX Omni BERAUSDT
SoDEX BERA-USD
BloFin BERA-USDT
GMX BERA/USD [ETH-USDC]
Hyperliquid BERA
01 Exchange BERAUSD
GRVT BERA_USDT_Perp
Deribit BERA_USDC-PERPETUAL