Funding arb · Price arb /

STRK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0061%/8h= −6.7% APRpaid last 24h −0.029%

Price spread now: Variational Omni against Backpack−0.047%7-day average +0.024% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Backpack Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.238%−$24 on $10k

Price spread, last 4 days (all we have)+2.719%+$272 · spread now −0.047%, 7d avg +0.024%

Together, before fees+2.482%+ Points / potential airdropVariational Omni: Active · farm board+$248 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Variational Omni is 0.071% cheaper against Backpack than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.024%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack STRK_USDC_PERP	0.04398	0.0161	pay 0.0020% / 1h	37m 26s	$25K	$148K	10x
Short	Variational Omni STRK	0.04396	0.0100	get 0.0050% / 4h	37m 26s	$359K	$2.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.047%Rate

Funding earned: −$12.79
Price spread: −0.047% → +0.024%: −$7.1
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$29.88
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Backpack: live order book, 41 min ago; Variational Omni: RFQ quote, 2 min ago. Net counts fees only.

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, 41 min ago	2.28 bp	13.7 bp −$14	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 2 min ago	4.55 bp	doesn't fit	43.3 bp −$433	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	−0.0584%	1h	0.04391	−0.159%	$62K	$96K	25x	as long as short
dYdX STRK-USD	+0.0001%	1h	0.04397	−0.020%	$20K	$24K	5x	as long as short
Injective STRK/USDC PERP	+0.0033%	1h	0.05070	+15.280%	$3K	$38K	5.5x	as long as short
BloFin STRK-USDT	+0.0065%	4h	0.04404	+0.136%	$752K	$725K	75x	as long as short
Paradex STRK-USD-PERP	+0.0100%	8h	0.04393	−0.115%	$8K	$144	20x	as long as short
Hyperliquid STRK	+0.0100%	1h	0.04402	+0.091%	$15.0M	$7.5M	5x	as long as short
Aster STRKUSDT	+0.0100%	4h	0.04396	−0.055%	$34K	$350K	10x	as long as short
Pacifica STRK	+0.0100%	1h	0.04396	−0.057%	$44K	$69K	5x	as long as short
Binance STRKUSDT	+0.0100%	4h	0.04396	−0.045%	$12.6M	$49.7M	75x	as long as short
Bybit STRKUSDT	+0.0100%	4h	0.04393	−0.114%	$15.6M	$21.4M	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	0.04393	−0.114%	$4.9M	$23.4M	50x	as long as short
Gate STRK_USDT	+0.0100%	4h	0.04397	−0.023%	$589K	$1.4M	50x	as long as short
MEXC STRK_USDT	+0.0100%	4h	0.04395	−0.068%	$12.3M	$2.1M	100x	as long as short
KuCoin STRKUSDTM	+0.0100%	4h	0.04397	−0.023%	$1.5M	$1.9M	50x	as long as short
Bitget STRKUSDT	+0.0100%	4h	0.04395	−0.070%	$3.1M	$4.1M	75x	as long as short
BingX STRK-USDC	+0.0100%	4h	0.04395	−0.068%	—	$720K	—	as long as short
Variational Omni STRKshort	+0.0100%	4h	0.04396	−0.047%	$359K	$2.0M	—
GRVT STRK_USDT_Perp	+0.0100%	4h	0.04401	+0.076%	$188K	$3.6M	10x	as long as short
SunX STRK-USDT	+0.0100%	4h	0.04502	+2.365%	$2K	$834K	20x	as long as short
Extended STRK-USD	+0.0104%	1h	0.04393	−0.119%	$122K	$625K	10x	as long as short
Backpack STRK_USDC_PERPlong	+0.0161%	1h	0.04398	long leg	$25K	$148K	10x
Kraken Futures PF_STRKUSD	+0.0503%	1h	0.04401	+0.057%	$471K	$512K	20x	as long as short
Lighter STRK	+0.0632%	1h	0.04406	+0.182%	$272K	$506K	5x	as long as short
Deribit STRK_USDC-PERPETUAL	+0.0886%	1h	0.04405	+0.159%	$2K	$34K	25x	as long as short