Funding arb · Price arb /

BERA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0100%/8h= +11.0% APRpaid last 24h −9.508%

Price spread now: Variational Omni against Kraken Futures−0.295%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 Variational Omni

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—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Funding pays, the price is against you. Variational Omni is 0.295% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.295% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$29 on $10k: about 9.8 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_BERAUSD	0.2268	0.0000	get 0.0000% / 1h	6m 57s	$51K	$24K	20x
Short	Variational Omni BERA	0.2261	0.0100	get 0.0050% / 4h	1h 06m	$83K	$49K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.295%Rate

Funding earned: $21.06
Price spread: −0.295% → 0.000%: −$29.48
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$18.41
Costs to cover: 0.100%
Break-even: 13.1 days

Slippage unknown: Kraken Futures: no order-book sample; Variational Omni: 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 Kraken Futures no order-book sample	—	—	—	—	—
Sell Variational Omni no order-book sample	—	—	—	—	—

Kraken Futures and Variational Omni: 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	0.2132	−5.991%	$2K	$4K	12x	as long as short
Coinbase International BERA-PERP-INTX	−0.0320%	1h	0.2259	−0.392%	$9K	$45K	50x	as long as short
Kraken Futures PF_BERAUSDlong	0.0000%	1h	0.2268	long leg	$51K	$24K	20x
BloFin BERA-USDT	+0.0083%	4h	0.2269	+0.049%	$288K	$88K	75x	as long as short
Lighter BERA	+0.0096%	1h	0.2270	+0.094%	$63K	$89K	5x	as long as short
Aster BERAUSDT	+0.0100%	4h	0.2269	+0.040%	$13K	$27K	5x	as long as short
Binance BERAUSDT	+0.0100%	4h	0.2270	+0.094%	$5.5M	$13.5M	50x	as long as short
Bybit BERAUSDT	+0.0100%	4h	0.2267	−0.039%	$3.1M	$4.1M	25x	as long as short
OKX BERA-USDT-SWAP	+0.0100%	4h	0.2268	+0.005%	$1.5M	$3.2M	20x	as long as short
Gate BERA_USDT	+0.0100%	4h	0.2266	−0.083%	$335K	$395K	50x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC BERA_USDT	+0.0100%	4h	0.2269	+0.049%	$1.2M	$434K	20x	as long as short
KuCoin BERAUSDTM	+0.0100%	4h	0.2268	+0.005%	$547K	$222K	50x	as long as short
Bitget BERAUSDT	+0.0100%	4h	0.2268	+0.005%	$1.5M	$1.1M	50x	as long as short
BingX BERA-USDT	+0.0100%	4h	0.2267	−0.039%	—	$6.6M	—	as long as short
Variational Omni BERAshort	+0.0100%	4h	0.2261	−0.295%	$83K	$49K	—
GRVT BERA_USDT_Perp	+0.0100%	4h	0.2269	+0.033%	$105K	$2.7M	10x	as long as short
ApeX Omni BERAUSDT	+0.0100%	1h	0.2260	−0.347%	$32K	$458K	50x	as long as short
Orderly PERP_BERA_USDC	+0.0100%	4h	0.2269	+0.049%	$9K	$1K	10x	as long as short
SoDEX BERA-USD	+0.0100%	1h	0.2268	+0.027%	$372	$6K	5x	as long as short
01 Exchange BERAUSD	+0.0176%	1h	0.2269	+0.049%	$4K	$2K	5x	as long as short
Deribit BERA_USDC-PERPETUAL	+0.0191%	1h	0.2270	+0.094%	$4K	$62K	25x	as long as short
GMX BERA/USD [ETH-USDC]	L +0.0206% / S −0.0592%	1h	0.2269	+0.054%	$2K	—	100x	as long as short
Hyperliquid BERA	+0.0471%	1h	0.2275	+0.292%	$2.9M	$946K	5x	as long as short
Backpack BERA_USDC_PERP	+0.0780%	1h	0.2272	+0.186%	$37K	$149K	5x	as long as short