Funding arb · Price arb /

BERA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.039%

Price spread now: Deribit against Bybit+0.221%7-day average — · you sell dearer than you buy

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

Long on Bybit Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.471%−$47 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Deribit is 0.221% dearer against Bybit than usual: you sell high and buy low (spread +0.221% now, against zero (this spread has no 7-day history yet)): +$22 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 7.4 days. At the pace of the last 7 days (−0.471% in total) that is about 3.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit BERAUSDT	0.2264	0.0100	pay 0.0050% / 4h	2h 11m	$3.1M	$4.2M	25x
Short	Deribit BERA_USDC-PERPETUAL	0.2269	0	get 0.0000% / 1h	11m 06s	$4K	$62K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Bybit. 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 BybitbpFee DeribitbpOrdersPrice spread, now +0.221%Rate

Funding earned: −$21
Price spread: +0.221% → 0.000%: $22.08
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$16.92
Costs to cover: 0.180%
Break-even: from the start

Slippage unknown: Bybit: live order book, 7 min ago; Deribit: 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 Bybit live order book, 7 min ago	4.40 bp	33.1 bp −$33	111.6 bp −$1,116	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: 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	0.2136	−5.654%	$2K	$4K	12x	as long as short
Kraken Futures PF_BERAUSD	−0.0565%	1h	0.2271	+0.289%	$51K	$26K	20x	as long as short
Coinbase International BERA-PERP-INTX	−0.0304%	1h	0.2259	−0.221%	$10K	$45K	50x	as long as short
Deribit BERA_USDC-PERPETUALshort	0.0000%	1h	0.2269	+0.221%	$4K	$62K	25x
01 Exchange BERAUSD	+0.0048%	1h	0.2268	+0.177%	$4K	$2K	5x	as long as short
Lighter BERA	+0.0096%	1h	0.2269	+0.221%	$63K	$93K	5x	as long as short
Aster BERAUSDT	+0.0100%	4h	0.2270	+0.266%	$13K	$28K	5x	as long as short
Binance BERAUSDT	+0.0100%	4h	0.2270	+0.265%	$5.5M	$13.6M	50x	as long as short
Bybit BERAUSDTlong	+0.0100%	4h	0.2264	long leg	$3.1M	$4.2M	25x
OKX BERA-USDT-SWAP	+0.0100%	4h	0.2265	+0.044%	$1.5M	$3.2M	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	0.2271	+0.309%	$336K	$390K	50x	as long as short
MEXC BERA_USDT	+0.0100%	4h	0.2269	+0.221%	$1.2M	$436K	20x	as long as short
KuCoin BERAUSDTM	+0.0100%	4h	0.2266	+0.088%	$549K	$220K	50x	as long as short
Bitget BERAUSDT	+0.0100%	4h	0.2270	+0.265%	$1.5M	$1.1M	50x	as long as short
BingX BERA-USDT	+0.0100%	4h	0.2267	+0.133%	—	$6.6M	—	as long as short
Variational Omni BERA	+0.0100%	4h	0.2271	+0.305%	$84K	$49K	—	as long as short
GRVT BERA_USDT_Perp	+0.0100%	4h	0.2274	+0.441%	$105K	$2.8M	10x	as long as short
ApeX Omni BERAUSDT	+0.0100%	1h	0.2270	+0.265%	$33K	$454K	50x	as long as short
Orderly PERP_BERA_USDC	+0.0100%	4h	0.2268	+0.177%	$9K	$1K	10x	as long as short
SoDEX BERA-USD	+0.0100%	1h	0.2269	+0.225%	$372	$6K	5x	as long as short
BloFin BERA-USDT	+0.0128%	4h	0.2269	+0.221%	$292K	$88K	75x	as long as short
GMX BERA/USD [ETH-USDC]	L +0.0206% / S −0.0592%	1h	0.2269	+0.200%	$2K	—	100x	as long as short
Hyperliquid BERA	+0.0820%	1h	0.2274	+0.424%	$2.9M	$967K	5x	as long as short
Backpack BERA_USDC_PERP	+0.0862%	1h	0.2269	+0.239%	$38K	$149K	5x	as long as short