Funding you earn now, next payment 02:00 UTC−0.0710%/8h= −77.7% APRnext payment −$0.89 per $10,000 · paid last 24h −0.011%
Price spread now: Hyperliquid against Backpack+0.031%7-day average +0.031% · you sell dearer than you buy
Net, funding: paid 7d − costs−$71as in the Funding arb table
Net, price: spread back to 7d avg − costs−$54as in the Price arb table
costs, in and out, $10k−$540.539% of the position
Funding, last 7 days−0.171%−$17 on $10k
+Price spread, last 4 days (all we have)−0.002%$0 · spread now +0.031%, 7d avg +0.031%
=Together, before fees−0.172%+ Points / potential airdropHyperliquid: Season 2 · farm board−$17 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.031%, so right now this pair is about funding alone: −$21 a day on $10k at the current rate.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.171% in total (about -8.9% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.89 per $10,000. 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 | 0.2269 | 0.1046 | pay 0.0131% / 1h | 30m 10s | $41K | $166K | 5x |
| Short | Hyperliquid BERA | 0.2270 | 0.0336 | get 0.0042% / 1h | 30m 10s | $2.9M | $924K | 5x |
Backpack BERA_USDC_PERP
Hyperliquid BERAFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid 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
- −$149.05
- Price spread: +0.031% → +0.031%
- −$0.01
- Slippage, 4 orders
- −$34.92
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$202.99
- Costs to cover
- 0.539%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 38 min ago; Hyperliquid: live order book, 1 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, 38 min ago | 0.22 bp | 11.5 bp −$12 | doesn't fit | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 1 min ago | 0.88 bp | 18.0 bp −$18 | doesn't fit | doesn't fit | doesn't fit |
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 | 0.2128 | −6.210% | $2K | $5K | 12x | as long as short |
| Kraken Futures PF_BERAUSD | −0.1060% | 1h | 0.2263 | −0.267% | $51K | $25K | 20x | as long as short |
| Coinbase International BERA-PERP-INTX | −0.0280% | 1h | 0.2234 | −1.538% | $15K | $51K | 50x | as long as short |
| Variational Omni BERA | −0.0020% | 4h | 0.2255 | −0.628% | $83K | $49K | — | as long as short |
| Lighter BERA | +0.0096% | 1h | 0.2265 | −0.190% | $61K | $89K | 5x | as long as short |
| Aster BERAUSDT | +0.0100% | 4h | 0.2259 | −0.451% | $15K | $26K | 5x | as long as short |
| Binance BERAUSDT | +0.0100% | 4h | 0.2266 | −0.130% | $5.4M | $13.9M | 50x | as long as short |
| Bybit BERAUSDT | +0.0100% | 4h | 0.2262 | −0.304% | $3.0M | $4.1M | 25x | as long as short |
| OKX BERA-USDT-SWAP | +0.0100% | 4h | 0.2264 | −0.216% | $1.5M | $3.2M | 20x | as long as short |
| Gate BERA_USDT | +0.0100% | 4h | 0.2261 | −0.348% | $334K | $379K | 50x | as long as short |
Injective BERA/USDC PERP
Kraken Futures PF_BERAUSD
Coinbase International BERA-PERP-INTX
Variational Omni BERA
Lighter BERA
Aster BERAUSDT
Binance BERAUSDT
Bybit BERAUSDT
OKX BERA-USDT-SWAP
Gate BERA_USDTShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC BERA_USDT | +0.0100% | 4h | 0.2265 | −0.172% | $1.2M | $443K | 20x | as long as short |
| KuCoin BERAUSDTM | +0.0100% | 4h | 0.2260 | −0.392% | $537K | $230K | 50x | as long as short |
| Bitget BERAUSDT | +0.0100% | 4h | 0.2263 | −0.260% | $1.4M | $1.1M | 50x | as long as short |
| BingX BERA-USDT | +0.0100% | 4h | 0.2262 | −0.304% | — | $6.6M | — | as long as short |
| ApeX Omni BERAUSDT | +0.0100% | 1h | 0.2250 | −0.833% | $32K | $464K | 50x | as long as short |
| Orderly PERP_BERA_USDC | +0.0100% | 4h | 0.2264 | −0.216% | $9K | $883 | 10x | as long as short |
| SoDEX BERA-USD | +0.0100% | 1h | 0.2264 | −0.216% | $365 | $6K | 5x | as long as short |
| GMX BERA/USD [ETH-USDC] | L +0.0206% / S −0.0592% | 1h | 0.2262 | −0.306% | $2K | — | 100x | as long as short |
| GRVT BERA_USDT_Perp | +0.0332% | 4h | 0.2259 | −0.436% | $115K | $3.1M | 10x | as long as short |
| Hyperliquid BERAshort | +0.0336% | 1h | 0.2270 | +0.031% | $2.9M | $924K | 5x | |
| 01 Exchange BERAUSD | +0.0408% | 1h | 0.2265 | −0.172% | $4K | $2K | 5x | as long as short |
| Backpack BERA_USDC_PERPlong | +0.1046% | 1h | 0.2269 | long leg | $41K | $166K | 5x | |
| Deribit BERA_USDC-PERPETUAL | +0.1076% | 1h | 0.2266 | −0.128% | $4K | $56K | 25x | as long as short |
MEXC BERA_USDT
KuCoin BERAUSDTM
Bitget BERAUSDT
BingX BERA-USDT
ApeX Omni BERAUSDT
Orderly PERP_BERA_USDC
SoDEX BERA-USD
GMX BERA/USD [ETH-USDC]
GRVT BERA_USDT_Perp
01 Exchange BERAUSD
Deribit BERA_USDC-PERPETUAL