Funding arb · Price arb /

BERA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0492%/8h= +53.9% APRpaid last 24h +0.140%

Price spread now: GMX against Orderly+0.031%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 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

Both sides work for this trade now. Funding pays +$15 a day on $10k at the current rate, and GMX is 0.031% dearer against Orderly than usual: you sell high and buy low: +$3 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_BERA_USDC	0.2260	0.0100	pay 0.0050% / 4h	2h 29m	$9K	$883	10x
Short	GMX BERA/USD [ETH-USDC]	0.2261	L +0.0206% / S −0.0592%	get 0.0074% / 1h	29m 19s	$2K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now +0.031%Rate

Funding earned: $103.42
Price spread: +0.031% → 0.000%: $3.1
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee GMX: 6 bp × 2 orders: −$12
Net: $88.52
Costs to cover: 0.180%
Break-even: 1.0 days

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

Orderly and 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 23 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	0.2131	−5.708%	$2K	$5K	12x	as long as short
Kraken Futures PF_BERAUSD	−0.1063%	1h	0.2255	−0.217%	$51K	$25K	20x	as long as short
Coinbase International BERA-PERP-INTX	−0.0280%	1h	0.2234	−1.150%	$15K	$51K	50x	as long as short
Variational Omni BERA	−0.0020%	4h	0.2255	−0.237%	$83K	$49K	—	as long as short
Lighter BERA	+0.0096%	1h	0.2262	+0.097%	$61K	$89K	5x	as long as short
Aster BERAUSDT	+0.0100%	4h	0.2260	+0.012%	$15K	$26K	5x	as long as short
Binance BERAUSDT	+0.0100%	4h	0.2262	+0.067%	$5.4M	$13.9M	50x	as long as short
Bybit BERAUSDT	+0.0100%	4h	0.2260	0.000%	$3.0M	$4.1M	25x	as long as short
OKX BERA-USDT-SWAP	+0.0100%	4h	0.2261	+0.044%	$1.5M	$3.2M	20x	as long as short
Gate BERA_USDT	+0.0100%	4h	0.2263	+0.133%	$334K	$379K	50x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC BERA_USDT	+0.0100%	4h	0.2264	+0.177%	$1.2M	$443K	20x	as long as short
KuCoin BERAUSDTM	+0.0100%	4h	0.2261	+0.044%	$538K	$230K	50x	as long as short
Bitget BERAUSDT	+0.0100%	4h	0.2261	+0.044%	$1.4M	$1.1M	50x	as long as short
BingX BERA-USDT	+0.0100%	4h	0.2260	0.000%	—	$6.6M	—	as long as short
ApeX Omni BERAUSDT	+0.0100%	1h	0.2260	0.000%	$32K	$465K	50x	as long as short
Orderly PERP_BERA_USDClong	+0.0100%	4h	0.2260	long leg	$9K	$883	10x
SoDEX BERA-USD	+0.0100%	1h	0.2257	−0.133%	$363	$6K	5x	as long as short
GMX BERA/USD [ETH-USDC]short	L +0.0206% / S −0.0592%	1h	0.2261	+0.031%	$2K	—	100x
GRVT BERA_USDT_Perp	+0.0332%	4h	0.2259	−0.043%	$115K	$3.1M	10x	as long as short
Hyperliquid BERA	+0.0332%	1h	0.2267	+0.310%	$2.9M	$924K	5x	as long as short
01 Exchange BERAUSD	+0.0424%	1h	0.2269	+0.398%	$4K	$2K	5x	as long as short
Deribit BERA_USDC-PERPETUAL	+0.0635%	1h	0.2261	+0.044%	$4K	$56K	25x	as long as short
Backpack BERA_USDC_PERP	+0.1046%	1h	0.2269	+0.394%	$41K	$166K	5x	as long as short