3:06 PM PT -- A rep for Derek and Gloria tells TMZ Sports ... "On behalf of Derek Fisher and Gloria Govan, they would like to thank everyone for their thoughts and prayers. They are beyond grateful that they are both okay and that no one else was involved. Both Derek and Gloria are home and ask that you respect their privacy."

Derek Fisher was arrested on suspicion of DUI Sunday after crashing his car on the 101 Freeway following a night out at Catch in West Hollywood ... and the wreckage looks gnarly.

Derek's Cadillac flipped over just after 3 AM PT Sunday as he was heading northbound on the Ventura 101 Freeway. His passenger was "Basketball Wives" star Gloria Govan. Neither Derek nor Gloria were injured.

Derek was then arrested and jailed after it was determined he'd been drinking. The car wreck could have been deadly from how badly the car had flipped ... based on video obtained by TMZ Sports.

CHP officials say Derek veered into the paved right shoulder of the 101 just east of the 405 interchange. He collided with the raised concrete curb and guardrail, which flipped his car over once. Luckily, the crash left both Derek and Gloria unscathed.

We got Derek Saturday night leaving Catch at 11:45 PM, but he crashed at 3 AM. He apparently picked up Gloria after dinner, because she wasn't at Catch. He and Gloria have been an open couple since March.