Funding arb · Price arb /

BERA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.015%

Price spread now: Deribit against Orderly+0.044%7-day average — · you sell dearer than you buy

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

Long on Orderly Short on Deribit

What this pair did over the last

the charts below follow

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

The price spread pays, funding is against you. Deribit is 0.044% dearer against Orderly than usual: you sell high and buy low (spread +0.044% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 35 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_BERA_USDC	0.2279	0.0100	pay 0.0050% / 4h	7m 20s	$9K	$1K	10x
Short	Deribit BERA_USDC-PERPETUAL	0.2280	0	get 0.0000% / 1h	7m 20s	$4K	$61K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Orderly. 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 OrderlybpFee DeribitbpOrdersPrice spread, now +0.044%Rate

Funding earned: −$21
Price spread: +0.044% → 0.000%: $4.39
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$29.61
Costs to cover: 0.130%
Break-even: never at this rate

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

Orderly and Deribit: 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	0.2147	−5.792%	$2K	$5K	12x	as long as short
Kraken Futures PF_BERAUSD	−0.0420%	1h	0.2279	−0.018%	$51K	$24K	20x	as long as short
Coinbase International BERA-PERP-INTX	−0.0296%	1h	0.2269	−0.439%	$9K	$44K	50x	as long as short
Variational Omni BERA	−0.0036%	4h	0.2270	−0.387%	$84K	$49K	—	as long as short
Deribit BERA_USDC-PERPETUALshort	0.0000%	1h	0.2280	+0.044%	$4K	$61K	25x
Bybit BERAUSDT	+0.0027%	4h	0.2277	−0.088%	$3.1M	$4.1M	25x	as long as short
Lighter BERA	+0.0096%	1h	0.2279	+0.004%	$62K	$90K	5x	as long as short
Aster BERAUSDT	+0.0100%	4h	0.2281	+0.071%	$13K	$27K	5x	as long as short
Binance BERAUSDT	+0.0100%	4h	0.2280	+0.045%	$5.6M	$13.5M	50x	as long as short
OKX BERA-USDT-SWAP	+0.0100%	4h	0.2277	−0.088%	$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	0.2281	+0.088%	$337K	$390K	50x	as long as short
MEXC BERA_USDT	+0.0100%	4h	0.2280	+0.044%	$1.3M	$437K	20x	as long as short
KuCoin BERAUSDTM	+0.0100%	4h	0.2280	+0.044%	$546K	$227K	50x	as long as short
Bitget BERAUSDT	+0.0100%	4h	0.2279	0.000%	$1.5M	$1.1M	50x	as long as short
BingX BERA-USDT	+0.0100%	4h	0.2280	+0.044%	—	$6.6M	—	as long as short
GRVT BERA_USDT_Perp	+0.0100%	4h	0.2284	+0.200%	$116K	$2.8M	10x	as long as short
ApeX Omni BERAUSDT	+0.0100%	1h	0.2280	+0.044%	$37K	$461K	50x	as long as short
Orderly PERP_BERA_USDClong	+0.0100%	4h	0.2279	long leg	$9K	$1K	10x
SoDEX BERA-USD	+0.0100%	1h	0.2279	+0.018%	$368	$6K	5x	as long as short
01 Exchange BERAUSD	+0.0152%	1h	0.2279	0.000%	$4K	$2K	5x	as long as short
BloFin BERA-USDT	+0.0154%	4h	0.2283	+0.176%	$292K	$83K	75x	as long as short
GMX BERA/USD [ETH-USDC]	L +0.0206% / S −0.0592%	1h	0.2280	+0.042%	$2K	—	100x	as long as short
Hyperliquid BERA	+0.0282%	1h	0.2283	+0.171%	$2.9M	$953K	5x	as long as short
Backpack BERA_USDC_PERP	+0.0577%	1h	0.2285	+0.250%	$37K	$148K	5x	as long as short