Funding arb · Price arb /

STRK

all STRK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0044%/8h= −4.8% APRpaid last 24h −0.010%

Price spread now: BloFin against Backpack+0.136%66s7-day average +0.097% · you sell dearer than you buy

Net, funding: paid 7d − costs−$121as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$600.605% of the position

Long on Backpack Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.609%−$61 on $10k

Price spread, last 3 days (all we have)+3.669%+$367 · spread now +0.136%, 7d avg +0.097%

Together, before fees+3.060%+$306 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BloFin is 0.040% dearer against Backpack than usual: you sell high and buy low (spread +0.136% now, against its 7-day average of +0.097%): +$4 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 3.0 days. At the pace of the last 7 days (−0.609% in total) that is about 11 hours. The two prices were read 66 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack STRK_USDC_PERP	0.04402	0.0100	pay 0.0013% / 1h	15m 22s	$25K	$152K	10x
Short	BloFin STRK-USDT	0.04408	0.0056	get 0.0028% / 4h	2h 15m	$786K	$728K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Backpack. 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 BackpackbpFee BloFinbpOrdersPrice spread, now +0.136%Rate

Funding earned: −$9.19
Price spread: +0.136% → +0.097%: $3.95
Slippage, 4 orders: −$38.46
Fee Backpack: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$65.7
Costs to cover: 0.605%
Break-even: never at this rate

Slippage from Backpack: live order book, 8 min ago; BloFin: 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 Backpack live order book, 8 min ago	5.65 bp	17.9 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 6 min ago	2.26 bp	9.9 bp −$10	28.7 bp −$287	doesn't fit	doesn't fit

STRK 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
Coinbase International STRK-PERP-INTX	−0.0352%	1h	0.04400	−0.045%	$63K	$91K	25x	as long as short
dYdX STRK-USD	0.0000%	1h	0.04405	+0.063%	$21K	$24K	5x	as long as short
Deribit STRK_USDC-PERPETUAL	0.0000%	1h	0.04407	+0.114%	$8K	$24K	25x	as long as short
Injective STRK/USDC PERP	+0.0033%	1h	0.05070	+15.175%	$3K	$38K	5.5x	as long as short
BloFin STRK-USDTshort	+0.0056%	4h	0.04408	+0.136%	$786K	$728K	75x
Paradex STRK-USD-PERP	+0.0100%	8h	0.04402	−0.001%	$8K	$144	20x	as long as short
Hyperliquid STRK	+0.0100%	1h	0.04407	+0.114%	$15.1M	$7.2M	5x	as long as short
Aster STRKUSDT	+0.0100%	4h	0.04406	+0.090%	$35K	$374K	10x	as long as short
Pacifica STRK	+0.0100%	1h	0.04405	+0.059%	$44K	$69K	5x	as long as short
Binance STRKUSDT	+0.0100%	4h	0.04402	0.000%	$12.7M	$50.2M	75x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit STRKUSDT	+0.0100%	4h	0.04399	−0.068%	$15.6M	$21.1M	50x	as long as short
OKX STRK-USDT-SWAP	+0.0100%	4h	0.04401	−0.023%	$4.9M	$23.7M	50x	as long as short
Gate STRK_USDT	+0.0100%	4h	0.04407	+0.114%	$591K	$1.5M	50x	as long as short
MEXC STRK_USDT	+0.0100%	4h	0.04404	+0.045%	$11.6M	$2.2M	100x	as long as short
KuCoin STRKUSDTM	+0.0100%	4h	0.04402	0.000%	$1.5M	$1.9M	50x	as long as short
Bitget STRKUSDT	+0.0100%	4h	0.04401	−0.025%	$3.1M	$4.1M	75x	as long as short
BingX STRK-USDC	+0.0100%	4h	0.04401	−0.023%	—	$724K	—	as long as short
Backpack STRK_USDC_PERPlong	+0.0100%	1h	0.04402	long leg	$25K	$152K	10x
Variational Omni STRK	+0.0100%	4h	0.04416	+0.313%	$359K	$1.7M	—	as long as short
GRVT STRK_USDT_Perp	+0.0100%	4h	0.04407	+0.114%	$190K	$3.5M	10x	as long as short
SunX STRK-USDT	+0.0100%	4h	0.04507	+2.385%	$2K	$816K	20x	as long as short
Extended STRK-USD	+0.0104%	1h	0.04400	−0.047%	$122K	$626K	10x	as long as short
Lighter STRK	+0.0264%	1h	0.04413	+0.250%	$272K	$541K	5x	as long as short
Kraken Futures PF_STRKUSD	+0.0337%	1h	0.04414	+0.283%	$470K	$491K	20x	as long as short