Funding arb · Price arb /

STRK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.049%

Price spread now: Bybit against Hyperliquid−0.159%7-day average −0.202% · you buy dearer than you sell

Net, funding: paid 7d − costs−$104as in the Funding arb table

Net, price: spread back to 7d avg − costs−$67as in the Price arb table

costs, in and out, $10k−$710.710% of the position

Long on Hyperliquid Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.332%−$33 on $10k

Price spread, last 7 days−0.027%−$3 · spread now −0.159%, 7d avg −0.202%

Together, before fees−0.359%+ Points / potential airdropHyperliquid: Season 2 · farm board−$36 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: Bybit is 0.043% dearer against Hyperliquid than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.202%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid STRK	0.04413	0.0100	pay 0.0013% / 1h	18m 13s	$15.2M	$7.2M	5x
Short	Bybit STRKUSDT	0.04406	0.0100	get 0.0050% / 4h	2h 18m	$15.6M	$21.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Hyperliquid. 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 HyperliquidbpFee BybitbpOrdersPrice spread, now −0.159%Rate

Funding earned: $0
Price spread: −0.159% → −0.202%: $4.35
Slippage, 4 orders: −$51.03
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$66.69
Costs to cover: 0.710%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 5 min ago; Bybit: live order book, just now.

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 Hyperliquid live order book, 5 min ago	1.13 bp	17.5 bp −$17	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, just now	3.40 bp	17.7 bp −$18	51.9 bp −$519	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	−0.0352%	1h	0.04405	−0.181%	$63K	$91K	25x	as long as short
dYdX STRK-USD	0.0000%	1h	0.04414	+0.019%	$21K	$24K	5x	as long as short
Injective STRK/USDC PERP	+0.0033%	1h	0.05070	+14.888%	$3K	$38K	5.5x	as long as short
Paradex STRK-USD-PERP	+0.0100%	8h	0.04411	−0.053%	$8K	$144	20x	as long as short
Hyperliquid STRKlong	+0.0100%	1h	0.04413	long leg	$15.2M	$7.2M	5x
Aster STRKUSDT	+0.0100%	4h	0.04410	−0.076%	$35K	$374K	10x	as long as short
Pacifica STRK	+0.0100%	1h	0.04414	+0.027%	$44K	$69K	5x	as long as short
Binance STRKUSDT	+0.0100%	4h	0.04409	−0.090%	$12.7M	$50.2M	75x	as long as short
Bybit STRKUSDTshort	+0.0100%	4h	0.04406	−0.159%	$15.6M	$21.1M	50x
OKX STRK-USDT-SWAP	+0.0100%	4h	0.04406	−0.159%	$4.9M	$23.7M	50x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate STRK_USDT	+0.0100%	4h	0.04410	−0.068%	$592K	$1.5M	50x	as long as short
MEXC STRK_USDT	+0.0100%	4h	0.04410	−0.068%	$11.6M	$2.2M	100x	as long as short
KuCoin STRKUSDTM	+0.0100%	4h	0.04410	−0.068%	$1.5M	$1.9M	50x	as long as short
Bitget STRKUSDT	+0.0100%	4h	0.04410	−0.068%	$3.1M	$4.1M	75x	as long as short
BingX STRK-USDT	+0.0100%	4h	0.04409	−0.091%	—	$25.9M	—	as long as short
Backpack STRK_USDC_PERP	+0.0100%	1h	0.04408	−0.113%	$25K	$152K	10x	as long as short
Variational Omni STRK	+0.0100%	4h	0.04416	+0.062%	$359K	$1.7M	—	as long as short
GRVT STRK_USDT_Perp	+0.0100%	4h	0.04429	+0.356%	$191K	$3.5M	10x	as long as short
SunX STRK-USDT	+0.0100%	4h	0.04515	+2.311%	$2K	$816K	20x	as long as short
BloFin STRK-USDT	+0.0102%	4h	0.04416	+0.068%	$784K	$729K	75x	as long as short
Extended STRK-USD	+0.0104%	1h	0.04409	−0.101%	$122K	$626K	10x	as long as short
Deribit STRK_USDC-PERPETUAL	+0.0203%	1h	0.04414	+0.023%	$8K	$24K	25x	as long as short
Lighter STRK	+0.0256%	1h	0.04420	+0.159%	$273K	$541K	5x	as long as short
Kraken Futures PF_STRKUSD	+0.0336%	1h	0.04423	+0.232%	$471K	$491K	20x	as long as short