Funding you earn now, next payment 03:00 UTC−0.0921%/8h= −100.8% APRpaid last 24h −0.072%
Price spread now: Bybit against Backpack−0.155%7-day average −0.108% · you buy dearer than you sell
Net, funding: paid 7d − costs−$94as in the Funding arb table
Net, price: spread back to 7d avg − costs−$90as in the Price arb table
costs, in and out, $10k−$850.854% of the position
Funding, last 7 days−0.086%−$9 on $10k
+Price spread, last 4 days (all we have)+0.543%+$54 · spread now −0.155%, 7d avg −0.108%
=Both sides work against this trade now: funding costs −$28 a day on $10k at the current rate, and Bybit is 0.047% cheaper against Backpack than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.108%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.086% in total (about -4.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack BERA_USDC_PERP | 0.2263 | 0.1021 | pay 0.0128% / 1h | 40m 48s | $38K | $168K | 5x |
| Short | Bybit BERAUSDT | 0.2260 | 0.0100 | get 0.0050% / 4h | 1h 40m | $3.0M | $4.1M | 25x |
Backpack BERA_USDC_PERP
Bybit BERAUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Backpack. 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
- −$193.33
- Price spread: −0.155% → −0.108%
- −$4.65
- Slippage, 4 orders
- −$64.44
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$283.43
- Costs to cover
- 0.854%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 22 min ago; Bybit: live order book, 2 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 Backpack live order book, 22 min ago | 0.66 bp | 11.5 bp −$11 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bybit live order book, 2 min ago | 4.40 bp | 30.8 bp −$31 | 81.5 bp −$815 | 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 | 0.2137 | −5.589% | $2K | $5K | 12x | as long as short |
| Coinbase International BERA-PERP-INTX | −0.0376% | 1h | 0.2252 | −0.508% | $15K | $52K | 50x | as long as short |
| Kraken Futures PF_BERAUSD | −0.0185% | 1h | 0.2254 | −0.413% | $51K | $25K | 20x | as long as short |
| BloFin BERA-USDT | +0.0091% | 4h | 0.2263 | −0.022% | $278K | $74K | 75x | as long as short |
| Lighter BERA | +0.0096% | 1h | 0.2260 | −0.177% | $61K | $88K | 5x | as long as short |
| Orderly PERP_BERA_USDC | +0.0099% | 4h | 0.2261 | −0.110% | $9K | $883 | 10x | as long as short |
| Aster BERAUSDT | +0.0100% | 4h | 0.2265 | +0.062% | $16K | $26K | 5x | as long as short |
| Binance BERAUSDT | +0.0100% | 4h | 0.2263 | −0.028% | $5.3M | $14.0M | 50x | as long as short |
| Bybit BERAUSDTshort | +0.0100% | 4h | 0.2260 | −0.155% | $3.0M | $4.1M | 25x | |
| OKX BERA-USDT-SWAP | +0.0100% | 4h | 0.2262 | −0.066% | $1.4M | $3.2M | 20x | as long as short |
Injective BERA/USDC PERP
Coinbase International BERA-PERP-INTX
Kraken Futures PF_BERAUSD
BloFin BERA-USDT
Lighter BERA
Orderly PERP_BERA_USDC
Aster BERAUSDT
Binance 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 | 0.2263 | −0.022% | $342K | $390K | 50x | as long as short |
| MEXC BERA_USDT | +0.0100% | 4h | 0.2262 | −0.066% | $1.2M | $435K | 20x | as long as short |
| KuCoin BERAUSDTM | +0.0100% | 4h | 0.2262 | −0.066% | $539K | $229K | 50x | as long as short |
| Bitget BERAUSDT | +0.0100% | 4h | 0.2262 | −0.066% | $1.4M | $1.1M | 50x | as long as short |
| BingX BERA-USDT | +0.0100% | 4h | 0.2263 | −0.022% | — | $6.6M | — | as long as short |
| Variational Omni BERA | +0.0100% | 4h | 0.2259 | −0.218% | $82K | $49K | — | as long as short |
| ApeX Omni BERAUSDT | +0.0100% | 1h | 0.2260 | −0.155% | $32K | $453K | 50x | as long as short |
| SoDEX BERA-USD | +0.0100% | 1h | 0.2259 | −0.199% | $369 | $6K | 5x | as long as short |
| Deribit BERA_USDC-PERPETUAL | +0.0193% | 1h | 0.2260 | −0.155% | $4K | $54K | 25x | as long as short |
| GMX BERA/USD [ETH-USDC] | L +0.0206% / S −0.0592% | 1h | 0.2261 | −0.119% | $2K | — | 100x | as long as short |
| Hyperliquid BERA | +0.0363% | 1h | 0.2265 | +0.062% | $2.9M | $913K | 5x | as long as short |
| 01 Exchange BERAUSD | +0.0408% | 1h | 0.2268 | +0.199% | $3K | $3K | 5x | as long as short |
| GRVT BERA_USDT_Perp | +0.0426% | 4h | 0.2268 | +0.204% | $107K | $3.2M | 10x | as long as short |
| Backpack BERA_USDC_PERPlong | +0.1021% | 1h | 0.2263 | long leg | $38K | $168K | 5x |
Gate BERA_USDT
MEXC BERA_USDT
KuCoin BERAUSDTM
Bitget BERAUSDT
BingX BERA-USDT
Variational Omni BERA
ApeX Omni BERAUSDT
SoDEX BERA-USD
Deribit BERA_USDC-PERPETUAL
GMX BERA/USD [ETH-USDC]
Hyperliquid BERA
01 Exchange BERAUSD
GRVT BERA_USDT_Perp