Funding arb · Price arb /

STRK

all STRK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.018%

Price spread now: Backpack against BingX+0.046%7-day average +0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$1as in the Funding arb table

Net, price: spread back to 7d avg − costs−$65as in the Price arb table

costs, in and out, $10k−$690.690% of the position

Long on BingX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.681%+$68 on $10k

Price spread, last 4 days (all we have)+0.040%+$4 · spread now +0.046%, 7d avg +0.004%

Together, before fees+0.721%+$72 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: Backpack is 0.042% dearer against BingX than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.004%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX STRK-USDT	0.04338	0.0100	pay 0.0050% / 4h	32m 09s	—	$26.1M	—
Short	Backpack STRK_USDC_PERP	0.04340	0.0100	get 0.0013% / 1h	32m 09s	$30K	$144K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against BingX. 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 BingXbpFee BackpackbpOrdersPrice spread, now +0.046%Rate

Funding earned: $0
Price spread: +0.046% → +0.004%: $4.24
Slippage, 4 orders: −$49.01
Fee BingX: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$64.77
Costs to cover: 0.690%
Break-even: never at this rate

Slippage from BingX: live order book, 6 min ago; Backpack: live order book, 26 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 BingX live order book, 6 min ago	3.48 bp	15.6 bp −$16	35.8 bp −$358	431.8 bp −$43.2K	doesn't fit
Sell Backpack live order book, 26 min ago	2.31 bp	21.8 bp −$22	doesn't fit	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	0.04311	−0.622%	$75K	$98K	25x	as long as short
Kraken Futures PF_STRKUSD	−0.0135%	1h	0.04342	+0.100%	$462K	$548K	20x	as long as short
dYdX STRK-USD	0.0000%	1h	0.04343	+0.109%	$20K	$24K	5x	as long as short
Injective STRK/USDC PERP	+0.0033%	1h	0.05070	+16.874%	$3K	$38K	5.5x	as long as short
Lighter STRK	+0.0096%	1h	0.04348	+0.231%	$265K	$501K	5x	as long as short
Paradex STRK-USD-PERP	+0.0100%	8h	0.04339	+0.024%	$8K	$144	20x	as long as short
Hyperliquid STRK	+0.0100%	1h	0.04344	+0.138%	$14.6M	$6.3M	5x	as long as short
Aster STRKUSDT	+0.0100%	4h	0.04344	+0.141%	$33K	$269K	10x	as long as short
Pacifica STRK	+0.0100%	1h	0.04342	+0.099%	$43K	$69K	5x	as long as short
Binance STRKUSDT	+0.0100%	4h	0.04340	+0.041%	$12.4M	$45.2M	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	0.04335	−0.069%	$15.3M	$20.4M	50x	as long as short
OKX STRK-USDT-SWAP	+0.0100%	4h	0.04337	−0.023%	$4.7M	$20.3M	50x	as long as short
Gate STRK_USDT	+0.0100%	4h	0.04337	−0.023%	$568K	$1.4M	50x	as long as short
MEXC STRK_USDT	+0.0100%	4h	0.04339	+0.023%	$12.2M	$2.0M	100x	as long as short
KuCoin STRKUSDTM	+0.0100%	4h	0.04340	+0.046%	$1.5M	$1.8M	50x	as long as short
Bitget STRKUSDT	+0.0100%	4h	0.04341	+0.067%	$3.1M	$3.8M	75x	as long as short
BingX STRK-USDTlong	+0.0100%	4h	0.04338	long leg	—	$26.1M	—
Backpack STRK_USDC_PERPshort	+0.0100%	1h	0.04340	+0.046%	$30K	$144K	10x
Variational Omni STRK	+0.0100%	4h	0.04300	−0.882%	$425K	$2.0M	—	as long as short
GRVT STRK_USDT_Perp	+0.0100%	4h	0.04307	−0.715%	$189K	$3.6M	10x	as long as short
SunX STRK-USDT	+0.0100%	4h	0.04446	+2.490%	$1K	$842K	20x	as long as short
Extended STRK-USD	+0.0104%	1h	0.04336	−0.043%	$120K	$659K	10x	as long as short
BloFin STRK-USDT	+0.0340%	4h	0.04345	+0.161%	$764K	$836K	75x	as long as short
Deribit STRK_USDC-PERPETUAL	+0.0672%	1h	0.04344	+0.138%	$8K	$44K	25x	as long as short