Funding arb · Price arb /

BERA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.1356%/8h= −148.5% APRpaid last 24h +5.692%

Price spread now: Kraken Futures against Orderly+0.057%7-day average — · you sell dearer than you buy

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

Long on Orderly Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 5 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. Kraken Futures is 0.057% dearer against Orderly than usual: you sell high and buy low (spread +0.057% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$41 a day in funding at the current rate, which eats that in about 3 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_BERA_USDC	0.2289	0.0080	pay 0.0040% / 4h	16m 49s	$9K	$787	10x
Short	Kraken Futures PF_BERAUSD	0.2290	−0.1276	pay 0.0159% / 1h	16m 49s	$51K	$21K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Orderly. 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 OrderlybpFee Kraken FuturesbpOrdersPrice spread, now +0.057%Rate

Funding earned: −$284.78
Price spread: +0.057% → 0.000%: $5.71
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$295.07
Costs to cover: 0.160%
Break-even: never at this rate

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

Orderly and 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	0.2150	−6.073%	$2K	$4K	12x	as long as short
Kraken Futures PF_BERAUSDshort	−0.1276%	1h	0.2290	+0.057%	$51K	$21K	20x
Orderly PERP_BERA_USDClong	+0.0080%	4h	0.2289	long leg	$9K	$787	10x
BloFin BERA-USDT	+0.0087%	4h	0.2287	−0.087%	$281K	$76K	75x	as long as short
Lighter BERA	+0.0096%	1h	0.2290	+0.052%	$64K	$74K	5x	as long as short
Hyperliquid BERA	+0.0100%	1h	0.2296	+0.306%	$2.9M	$589K	5x	as long as short
Aster BERAUSDT	+0.0100%	4h	0.2291	+0.084%	$13K	$22K	5x	as long as short
Binance BERAUSDT	+0.0100%	4h	0.2292	+0.138%	$5.5M	$9.3M	50x	as long as short
Bybit BERAUSDT	+0.0100%	4h	0.2290	+0.044%	$3.1M	$2.1M	25x	as long as short
OKX BERA-USDT-SWAP	+0.0100%	4h	0.2290	+0.044%	$1.4M	$1.9M	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	0.2291	+0.087%	$345K	$271K	50x	as long as short
MEXC BERA_USDT	+0.0100%	4h	0.2292	+0.131%	$1.2M	$322K	20x	as long as short
KuCoin BERAUSDTM	+0.0100%	4h	0.2289	0.000%	$551K	$128K	50x	as long as short
Bitget BERAUSDT	+0.0100%	4h	0.2292	+0.131%	$1.5M	$780K	50x	as long as short
BingX BERA-USDT	+0.0100%	4h	0.2292	+0.131%	—	$6.6M	—	as long as short
Backpack BERA_USDC_PERP	+0.0100%	1h	0.2293	+0.192%	$25K	$204K	5x	as long as short
Variational Omni BERA	+0.0100%	4h	0.2281	−0.345%	$84K	$49K	—	as long as short
GRVT BERA_USDT_Perp	+0.0100%	4h	0.2288	−0.052%	$116K	$3.0M	10x	as long as short
ApeX Omni BERAUSDT	+0.0100%	1h	0.2290	+0.044%	$36K	$482K	50x	as long as short
SoDEX BERA-USD	+0.0100%	1h	0.2290	+0.031%	$369	$6K	5x	as long as short
01 Exchange BERAUSD	+0.0128%	1h	0.2288	−0.044%	$3K	$864	5x	as long as short
Deribit BERA_USDC-PERPETUAL	+0.0187%	1h	0.2290	+0.044%	$9K	$45K	25x	as long as short
GMX BERA/USD [ETH-USDC]	L +0.0206% / S −0.0592%	1h	0.2289	+0.008%	$2K	—	100x	as long as short
Coinbase International BERA-PERP-INTX	+0.0816%	1h	0.2300	+0.481%	$19K	$53K	50x	as long as short