Funding arb · Price arb /

BERA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0107%/8h= −11.7% APRpaid last 24h −0.049%

Price spread now: Orderly against GMX+0.047%7-day average — · you sell dearer than you buy

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

Long on GMX Short on Orderly

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—needs both histories

The price spread pays, funding is against you. Orderly is 0.047% dearer against GMX than usual: you sell high and buy low (spread +0.047% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 35 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX BERA/USD [ETH-USDC]	0.2300	L +0.0206% / S −0.0592%	pay 0.0026% / 1h	9m 54s	$2K	—	100x
Short	Orderly PERP_BERA_USDC	0.2301	0.0099	get 0.0050% / 4h	1h 09m	$9K	$883	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against GMX. 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 GMXbpFee OrderlybpOrdersPrice spread, now +0.047%Rate

Funding earned: −$22.46
Price spread: +0.047% → 0.000%: $4.65
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$35.81
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Orderly: 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 GMX no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

GMX and Orderly: 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	0.2159	−6.128%	$2K	$5K	12x	as long as short
Coinbase International BERA-PERP-INTX	−0.0376%	1h	0.2290	−0.432%	$16K	$54K	50x	as long as short
Kraken Futures PF_BERAUSD	−0.0181%	1h	0.2300	+0.017%	$51K	$25K	20x	as long as short
BloFin BERA-USDT	+0.0068%	4h	0.2306	+0.264%	$216K	$74K	75x	as long as short
Lighter BERA	+0.0096%	1h	0.2300	+0.020%	$62K	$88K	5x	as long as short
Orderly PERP_BERA_USDCshort	+0.0099%	4h	0.2301	+0.047%	$9K	$883	10x
Aster BERAUSDT	+0.0100%	4h	0.2299	−0.022%	$15K	$27K	5x	as long as short
Binance BERAUSDT	+0.0100%	4h	0.2299	−0.040%	$5.4M	$14.2M	50x	as long as short
Bybit BERAUSDT	+0.0100%	4h	0.2296	−0.171%	$3.1M	$4.1M	25x	as long as short
OKX BERA-USDT-SWAP	+0.0100%	4h	0.2296	−0.171%	$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	0.2299	−0.040%	$347K	$394K	50x	as long as short
MEXC BERA_USDT	+0.0100%	4h	0.2299	−0.040%	$1.2M	$438K	20x	as long as short
KuCoin BERAUSDTM	+0.0100%	4h	0.2299	−0.040%	$554K	$230K	50x	as long as short
Bitget BERAUSDT	+0.0100%	4h	0.2298	−0.084%	$1.5M	$1.1M	50x	as long as short
BingX BERA-USDT	+0.0100%	4h	0.2298	−0.084%	—	$6.6M	—	as long as short
Variational Omni BERA	+0.0100%	4h	0.2299	−0.060%	$84K	$49K	—	as long as short
ApeX Omni BERAUSDT	+0.0100%	1h	0.2300	+0.003%	$34K	$462K	50x	as long as short
SoDEX BERA-USD	+0.0100%	1h	0.2300	−0.014%	$377	$6K	5x	as long as short
GMX BERA/USD [ETH-USDC]long	L +0.0206% / S −0.0592%	1h	0.2300	long leg	$2K	—	100x
Hyperliquid BERA	+0.0303%	1h	0.2301	+0.060%	$2.9M	$916K	5x	as long as short
GRVT BERA_USDT_Perp	+0.0388%	4h	0.2297	−0.108%	$115K	$3.2M	10x	as long as short
01 Exchange BERAUSD	+0.0400%	1h	0.2300	+0.003%	$3K	$3K	5x	as long as short
Deribit BERA_USDC-PERPETUAL	+0.0620%	1h	0.2301	+0.047%	$2K	$55K	25x	as long as short
Backpack BERA_USDC_PERP	+0.0895%	1h	0.2300	+0.016%	$35K	$158K	5x	as long as short