Funding arb · Price arb /

BERA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.1649%/8h= +180.6% APRpaid last 24h −6.158%

Price spread now: Binance against Kraken Futures−0.043%7-day average — · you buy dearer than you sell

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

Long on Kraken Futures Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−17.031%−$1,703 on $10k

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. Binance is 0.043% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.043% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 2 hours of funding at the current rate (+$49 a day). Mind the row above: over the last 7 days funding on this pair cost −17.031%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_BERAUSD	0.2304	−0.1549	get 0.0194% / 1h	1m 06s	$52K	$21K	20x
Short	Binance BERAUSDT	0.2303	0.0100	get 0.0050% / 4h	1h 01m	$5.5M	$9.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Kraken Futures. 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 Kraken FuturesbpFee BinancebpOrdersPrice spread, now −0.043%Rate

Funding earned: $346.34
Price spread: −0.043% → 0.000%: −$4.32
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: $322.02
Costs to cover: 0.200%
Break-even: 0.5 days

Slippage unknown: Kraken Futures: no order-book sample; Binance: live order book, 8 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 Kraken Futures no order-book sample	—	—	—	—	—
Sell Binance live order book, 8 min ago	2.16 bp	16.6 bp −$17	45.9 bp −$459	doesn't fit	doesn't fit

Kraken Futures: 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	0.2171	−5.776%	$2K	$4K	12x	as long as short
Kraken Futures PF_BERAUSDlong	−0.1549%	1h	0.2304	long leg	$52K	$21K	20x
BloFin BERA-USDT	+0.0082%	4h	0.2310	+0.257%	$282K	$76K	75x	as long as short
Orderly PERP_BERA_USDC	+0.0090%	4h	0.2303	−0.047%	$9K	$787	10x	as long as short
Lighter BERA	+0.0096%	1h	0.2304	−0.016%	$65K	$73K	5x	as long as short
Hyperliquid BERA	+0.0100%	1h	0.2306	+0.101%	$2.9M	$592K	5x	as long as short
Aster BERAUSDT	+0.0100%	4h	0.2304	−0.003%	$13K	$23K	5x	as long as short
Binance BERAUSDTshort	+0.0100%	4h	0.2303	−0.043%	$5.5M	$9.5M	50x
Bybit BERAUSDT	+0.0100%	4h	0.2301	−0.134%	$3.1M	$2.2M	25x	as long as short
OKX BERA-USDT-SWAP	+0.0100%	4h	0.2303	−0.047%	$1.4M	$2.0M	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	0.2302	−0.090%	$348K	$272K	50x	as long as short
MEXC BERA_USDT	+0.0100%	4h	0.2303	−0.047%	$1.3M	$333K	20x	as long as short
KuCoin BERAUSDTM	+0.0100%	4h	0.2302	−0.090%	$554K	$133K	50x	as long as short
Bitget BERAUSDT	+0.0100%	4h	0.2305	+0.040%	$1.5M	$790K	50x	as long as short
BingX BERA-USDT	+0.0100%	4h	0.2302	−0.090%	—	$6.6M	—	as long as short
Backpack BERA_USDC_PERP	+0.0100%	1h	0.2303	−0.025%	$24K	$204K	5x	as long as short
Variational Omni BERA	+0.0100%	4h	0.2310	+0.261%	$85K	$49K	—	as long as short
GRVT BERA_USDT_Perp	+0.0100%	4h	0.2306	+0.083%	$106K	$3.0M	10x	as long as short
ApeX Omni BERAUSDT	+0.0100%	1h	0.2310	+0.257%	$51K	$471K	50x	as long as short
SoDEX BERA-USD	+0.0100%	1h	0.2303	−0.043%	$371	$6K	5x	as long as short
01 Exchange BERAUSD	+0.0128%	1h	0.2303	−0.047%	$3K	$864	5x	as long as short
Deribit BERA_USDC-PERPETUAL	+0.0184%	1h	0.2304	−0.003%	$9K	$45K	25x	as long as short
GMX BERA/USD [ETH-USDC]	L +0.0206% / S −0.0592%	1h	0.2303	−0.044%	$2K	—	100x	as long as short
Coinbase International BERA-PERP-INTX	+0.0600%	1h	0.2322	+0.778%	$19K	$53K	50x	as long as short