Funding arb · Price arb /

STRK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.003%

Price spread now: MEXC against Backpack+0.116%7-day average +0.008% · you sell dearer than you buy

Net, funding: paid 7d − costs−$122as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$530.530% of the position

Long on Backpack Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.690%−$69 on $10k

Price spread, last 4 days (all we have)−0.323%−$32 · spread now +0.116%, 7d avg +0.008%

Together, before fees−1.013%−$101 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: MEXC is 0.109% dearer against Backpack than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of +0.008%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack STRK_USDC_PERP	0.04292	0.0100	pay 0.0013% / 1h	14m 43s	$28K	$143K	10x
Short	MEXC STRK_USDT	0.04297	0.0100	get 0.0050% / 4h	14m 43s	$11.4M	$2.1M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.116%Rate

Funding earned: $0
Price spread: +0.116% → +0.008%: $10.86
Slippage, 4 orders: −$38.99
Fee Backpack: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$42.13
Costs to cover: 0.530%
Break-even: never at this rate

Slippage from Backpack: live order book, 23 min ago; MEXC: 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, 23 min ago	2.32 bp	17.8 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 4 min ago	1.17 bp	6.1 bp −$6	18.0 bp −$180	80.5 bp −$8,049	187.0 bp −$93.5K

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	−0.1224%	1h	0.04247	−1.048%	$69K	$86K	25x	as long as short
dYdX STRK-USD	0.0000%	1h	0.04297	+0.120%	$20K	$24K	5x	as long as short
Deribit STRK_USDC-PERPETUAL	0.0000%	1h	0.04288	−0.093%	$8K	$43K	25x	as long as short
Injective STRK/USDC PERP	+0.0033%	1h	0.05070	+18.127%	$3K	$38K	5.5x	as long as short
Lighter STRK	+0.0096%	1h	0.04305	+0.303%	$256K	$441K	5x	as long as short
Paradex STRK-USD-PERP	+0.0100%	8h	0.04298	+0.129%	$8K	$144	20x	as long as short
Hyperliquid STRK	+0.0100%	1h	0.04302	+0.233%	$14.1M	$5.9M	5x	as long as short
Aster STRKUSDT	+0.0100%	4h	0.04301	+0.209%	$33K	$212K	10x	as long as short
Pacifica STRK	+0.0100%	1h	0.04301	+0.210%	$43K	$65K	5x	as long as short
Binance STRKUSDT	+0.0100%	4h	0.04299	+0.156%	$12.2M	$43.3M	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	0.04294	+0.047%	$14.9M	$19.7M	50x	as long as short
OKX STRK-USDT-SWAP	+0.0100%	4h	0.04295	+0.070%	$4.6M	$18.5M	50x	as long as short
Gate STRK_USDT	+0.0100%	4h	0.04297	+0.116%	$571K	$1.4M	50x	as long as short
MEXC STRK_USDTshort	+0.0100%	4h	0.04297	+0.116%	$11.4M	$2.1M	100x
KuCoin STRKUSDTM	+0.0100%	4h	0.04299	+0.163%	$1.5M	$1.8M	50x	as long as short
Bitget STRKUSDT	+0.0100%	4h	0.04297	+0.110%	$3.0M	$3.7M	75x	as long as short
BingX STRK-USDC	+0.0100%	4h	0.04296	+0.093%	—	$734K	—	as long as short
Backpack STRK_USDC_PERPlong	+0.0100%	1h	0.04292	long leg	$28K	$143K	10x
Variational Omni STRK	+0.0100%	4h	0.04283	−0.214%	$417K	$1.9M	—	as long as short
GRVT STRK_USDT_Perp	+0.0100%	4h	0.04284	−0.175%	$183K	$3.5M	10x	as long as short
SunX STRK-USDT	+0.0100%	4h	0.04385	+2.167%	$2K	$884K	20x	as long as short
Extended STRK-USD	+0.0104%	1h	0.04294	+0.058%	$119K	$876K	10x	as long as short
Kraken Futures PF_STRKUSD	+0.0336%	1h	0.04286	−0.134%	$445K	$501K	20x	as long as short
BloFin STRK-USDT	+0.0340%	4h	0.04282	−0.233%	$654K	$765K	75x	as long as short