Funding arb · Price arb /

STRK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.018%

Price spread now: GRVT against Backpack−0.576%7-day average +0.170% · you buy dearer than you sell

Net, funding: paid 7d − costs−$162as in the Funding arb table

Net, price: spread back to 7d avg − costs−$165as in the Price arb table

costs, in and out, $10k−$910.907% of the position

Long on Backpack Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.713%−$71 on $10k

Price spread, last 4 days (all we have)+2.304%+$230 · spread now −0.576%, 7d avg +0.170%

Together, before fees+1.591%+ Points / potential airdropGRVT: Active · farm board+$159 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: GRVT is 0.745% cheaper against Backpack than usual: you would sell low and buy high, −$75 on $10k if it goes back to its 7-day average of +0.170%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack STRK_USDC_PERP	0.04350	0.0100	pay 0.0013% / 1h	21m 04s	$25K	$137K	10x
Short	GRVT STRK_USDT_Perp	0.04325	0.0100	get 0.0050% / 4h	1h 21m	$188K	$3.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.576%Rate

Funding earned: $0
Price spread: −0.576% → +0.170%: −$74.53
Slippage, 4 orders: −$71.68
Fee Backpack: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$165.21
Costs to cover: 0.907%
Break-even: never at this rate

Slippage from Backpack: live order book, 42 min ago; GRVT: live order book, 3 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, 42 min ago	2.31 bp	16.6 bp −$17	doesn't fit	doesn't fit	doesn't fit
Sell GRVT live order book, 3 min ago	8.09 bp	19.7 bp −$20	119.6 bp −$1,196	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	−0.0952%	1h	0.04350	0.000%	$76K	$100K	25x	as long as short
Kraken Futures PF_STRKUSD	−0.0367%	1h	0.04351	+0.020%	$458K	$531K	20x	as long as short
dYdX STRK-USD	0.0000%	1h	0.04352	+0.037%	$20K	$24K	5x	as long as short
Injective STRK/USDC PERP	+0.0033%	1h	0.05070	+16.552%	$3K	$38K	5.5x	as long as short
Lighter STRK	+0.0096%	1h	0.04359	+0.207%	$266K	$505K	5x	as long as short
Paradex STRK-USD-PERP	+0.0100%	8h	0.04351	+0.029%	$8K	$144	20x	as long as short
Hyperliquid STRK	+0.0100%	1h	0.04353	+0.069%	$14.7M	$6.9M	5x	as long as short
Aster STRKUSDT	+0.0100%	4h	0.04352	+0.053%	$33K	$328K	10x	as long as short
Pacifica STRK	+0.0100%	1h	0.04353	+0.067%	$43K	$69K	5x	as long as short
Binance STRKUSDT	+0.0100%	4h	0.04346	−0.083%	$12.4M	$45.8M	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	0.04343	−0.161%	$15.3M	$20.6M	50x	as long as short
OKX STRK-USDT-SWAP	+0.0100%	4h	0.04346	−0.092%	$4.7M	$20.8M	50x	as long as short
Gate STRK_USDT	+0.0100%	4h	0.04345	−0.115%	$586K	$1.3M	50x	as long as short
MEXC STRK_USDT	+0.0100%	4h	0.04346	−0.092%	$12.2M	$2.0M	100x	as long as short
KuCoin STRKUSDTM	+0.0100%	4h	0.04351	+0.023%	$1.5M	$1.8M	50x	as long as short
Bitget STRKUSDT	+0.0100%	4h	0.04348	−0.048%	$3.1M	$3.8M	75x	as long as short
BingX STRK-USDT	+0.0100%	4h	0.04350	0.000%	—	$26.1M	—	as long as short
Backpack STRK_USDC_PERPlong	+0.0100%	1h	0.04350	long leg	$25K	$137K	10x
Variational Omni STRK	+0.0100%	4h	0.04341	−0.202%	$420K	$2.1M	—	as long as short
GRVT STRK_USDT_Perpshort	+0.0100%	4h	0.04325	−0.576%	$188K	$3.5M	10x
SunX STRK-USDT	+0.0100%	4h	0.04446	+2.207%	$2K	$833K	20x	as long as short
Extended STRK-USD	+0.0104%	1h	0.04344	−0.129%	$122K	$665K	10x	as long as short
BloFin STRK-USDT	+0.0340%	4h	0.04346	−0.092%	$757K	$844K	75x	as long as short
Deribit STRK_USDC-PERPETUAL	+0.0900%	1h	0.04354	+0.092%	$8K	$44K	25x	as long as short