Funding arb · Price arb /

STRK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0154%/8h= −16.9% APRpaid last 24h −0.018%

Price spread now: Gate against Backpack0.000%7-day average −0.028% · you sell dearer than you buy

Net, funding: paid 7d − costs−$208as in the Funding arb table

Net, price: spread back to 7d avg − costs−$134as in the Price arb table

costs, in and out, $10k−$1371.365% of the position

Long on Backpack Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.710%−$71 on $10k

Price spread, last 4 days (all we have)−0.058%−$6 · spread now 0.000%, 7d avg −0.028%

Together, before fees−0.768%−$77 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.028% dearer against Backpack than usual: you sell high and buy low (spread 0.000% now, against its 7-day average of −0.028%): +$3 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 14 hours. At the pace of the last 7 days (−0.710% in total) that is about 7 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack STRK_USDC_PERP	0.04324	0.0254	pay 0.0032% / 1h	57m 50s	$31K	$144K	10x
Short	Gate STRK_USDT	0.04324	0.0100	get 0.0050% / 4h	57m 50s	$567K	$1.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now 0.000%Rate

Funding earned: −$32.42
Price spread: 0.000% → −0.028%: $2.78
Slippage, 4 orders: −$111.52
Fee Backpack: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$166.15
Costs to cover: 1.365%
Break-even: never at this rate

Slippage from Backpack: live order book, just now; Gate: live order book, 4 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, just now	2.31 bp	16.3 bp −$16	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	3.47 bp	64.4 bp −$64	327.4 bp −$3,274	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	−0.0976%	1h	0.04290	−0.786%	$75K	$98K	25x	as long as short
Kraken Futures PF_STRKUSD	−0.0136%	1h	0.04329	+0.113%	$452K	$532K	20x	as long as short
dYdX STRK-USD	0.0000%	1h	0.04326	+0.042%	$20K	$24K	5x	as long as short
Injective STRK/USDC PERP	+0.0033%	1h	0.05070	+17.253%	$3K	$38K	5.5x	as long as short
Paradex STRK-USD-PERP	+0.0100%	8h	0.04323	−0.022%	$8K	$144	20x	as long as short
Hyperliquid STRK	+0.0100%	1h	0.04331	+0.162%	$14.6M	$6.9M	5x	as long as short
Aster STRKUSDT	+0.0100%	4h	0.04324	+0.002%	$33K	$328K	10x	as long as short
Pacifica STRK	+0.0100%	1h	0.04327	+0.060%	$43K	$69K	5x	as long as short
Binance STRKUSDT	+0.0100%	4h	0.04326	+0.046%	$12.4M	$45.8M	75x	as long as short
Bybit STRKUSDT	+0.0100%	4h	0.04323	−0.023%	$15.2M	$20.6M	50x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX STRK-USDT-SWAP	+0.0100%	4h	0.04324	0.000%	$4.7M	$20.6M	50x	as long as short
Gate STRK_USDTshort	+0.0100%	4h	0.04324	0.000%	$567K	$1.3M	50x
MEXC STRK_USDT	+0.0100%	4h	0.04326	+0.046%	$12.1M	$2.0M	100x	as long as short
KuCoin STRKUSDTM	+0.0100%	4h	0.04324	0.000%	$1.5M	$1.8M	50x	as long as short
Bitget STRKUSDT	+0.0100%	4h	0.04325	+0.019%	$3.1M	$3.8M	75x	as long as short
BingX STRK-USDT	+0.0100%	4h	0.04325	+0.023%	—	$26.1M	—	as long as short
Variational Omni STRK	+0.0100%	4h	0.04323	−0.032%	$428K	$2.1M	—	as long as short
GRVT STRK_USDT_Perp	+0.0100%	4h	0.04330	+0.144%	$188K	$3.6M	10x	as long as short
SunX STRK-USDT	+0.0100%	4h	0.04428	+2.405%	$1K	$839K	20x	as long as short
Extended STRK-USD	+0.0104%	1h	0.04325	+0.012%	$122K	$661K	10x	as long as short
Backpack STRK_USDC_PERPlong	+0.0254%	1h	0.04324	long leg	$31K	$144K	10x
BloFin STRK-USDT	+0.0340%	4h	0.04335	+0.254%	$760K	$843K	75x	as long as short
Lighter STRK	+0.0400%	1h	0.04335	+0.254%	$264K	$501K	5x	as long as short
Deribit STRK_USDC-PERPETUAL	+0.0674%	1h	0.04331	+0.162%	$8K	$43K	25x	as long as short