Funding arb · Price arb /

BERA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0465%/8h= +50.9% APRpaid last 24h +0.029%

Price spread now: Backpack against Gate+0.013%7-day average +0.018% · you sell dearer than you buy

Net, funding: paid 7d − costs−$105as in the Funding arb table

Net, price: spread back to 7d avg − costs−$105as in the Price arb table

costs, in and out, $10k−$1051.049% of the position

Long on Gate Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.004%$0 on $10k

Price spread, last 4 days (all we have)−0.077%−$8 · spread now +0.013%, 7d avg +0.018%

Together, before fees−0.080%−$8 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.018%, so right now this pair is about funding alone: +$14 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 -0.004% in total (about -0.2% 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	Gate BERA_USDT	0.2280	0.0100	pay 0.0050% / 4h	6m 33s	$337K	$390K	50x
Short	Backpack BERA_USDC_PERP	0.2280	0.0565	get 0.0071% / 1h	6m 33s	$37K	$148K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Gate. 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 GatebpFee BackpackbpOrdersPrice spread, now +0.013%Rate

Funding earned: $97.71
Price spread: +0.013% → +0.018%: −$0.53
Slippage, 4 orders: −$79.93
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$7.75
Costs to cover: 1.049%
Break-even: 7.6 days

Slippage from Gate: live order book, 4 min ago; Backpack: live order book, 6 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 Gate live order book, 4 min ago	4.38 bp	44.4 bp −$44	doesn't fit	doesn't fit	doesn't fit
Sell Backpack live order book, 6 min ago	0.88 bp	11.1 bp −$11	doesn't fit	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	0.2147	−5.833%	$2K	$5K	12x	as long as short
Kraken Futures PF_BERAUSD	−0.0420%	1h	0.2279	−0.062%	$51K	$24K	20x	as long as short
Coinbase International BERA-PERP-INTX	−0.0296%	1h	0.2269	−0.482%	$9K	$44K	50x	as long as short
Variational Omni BERA	−0.0036%	4h	0.2270	−0.431%	$84K	$49K	—	as long as short
Deribit BERA_USDC-PERPETUAL	0.0000%	1h	0.2280	0.000%	$4K	$61K	25x	as long as short
Bybit BERAUSDT	+0.0017%	4h	0.2276	−0.175%	$3.1M	$4.1M	25x	as long as short
Lighter BERA	+0.0096%	1h	0.2279	−0.039%	$62K	$90K	5x	as long as short
Aster BERAUSDT	+0.0100%	4h	0.2281	+0.040%	$13K	$27K	5x	as long as short
Binance BERAUSDT	+0.0100%	4h	0.2280	0.000%	$5.6M	$13.5M	50x	as long as short
OKX BERA-USDT-SWAP	+0.0100%	4h	0.2275	−0.219%	$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_USDTlong	+0.0100%	4h	0.2280	long leg	$337K	$390K	50x
MEXC BERA_USDT	+0.0100%	4h	0.2280	0.000%	$1.3M	$437K	20x	as long as short
KuCoin BERAUSDTM	+0.0100%	4h	0.2278	−0.088%	$545K	$227K	50x	as long as short
Bitget BERAUSDT	+0.0100%	4h	0.2280	0.000%	$1.5M	$1.1M	50x	as long as short
BingX BERA-USDT	+0.0100%	4h	0.2279	−0.044%	—	$6.6M	—	as long as short
GRVT BERA_USDT_Perp	+0.0100%	4h	0.2284	+0.156%	$116K	$2.8M	10x	as long as short
ApeX Omni BERAUSDT	+0.0100%	1h	0.2280	0.000%	$37K	$461K	50x	as long as short
Orderly PERP_BERA_USDC	+0.0100%	4h	0.2279	−0.044%	$9K	$1K	10x	as long as short
SoDEX BERA-USD	+0.0100%	1h	0.2279	−0.026%	$368	$6K	5x	as long as short
01 Exchange BERAUSD	+0.0152%	1h	0.2279	−0.044%	$4K	$2K	5x	as long as short
BloFin BERA-USDT	+0.0154%	4h	0.2283	+0.132%	$292K	$83K	75x	as long as short
GMX BERA/USD [ETH-USDC]	L +0.0206% / S −0.0592%	1h	0.2280	−0.002%	$2K	—	100x	as long as short
Hyperliquid BERA	+0.0280%	1h	0.2283	+0.127%	$2.9M	$953K	5x	as long as short
Backpack BERA_USDC_PERPshort	+0.0565%	1h	0.2280	+0.013%	$37K	$148K	5x