Funding arb · Price arb /

STRK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0001%/8h= −0.1% APRpaid last 24h −0.010%

Price spread now: Paradex against Hyperliquid−0.046%7-day average — · you buy dearer than you sell

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

Long on Hyperliquid Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · Paradex: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Paradex is 0.046% cheaper against Hyperliquid than usual: you would sell low and buy high, −$5 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid STRK	0.04257	0.0100	pay 0.0013% / 1h	42m 47s	$14.1M	$6.4M	5x
Short	Paradex STRK-USD-PERP	0.04255	0.0099	get 0.0099% / 8h	2h 42m	$8K	$144	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.046%Rate

Funding earned: −$0.13
Price spread: −0.046% → 0.000%: −$4.65
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$17.78
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 10 min ago; Paradex: no order-book sample. 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 Hyperliquid live order book, 10 min ago	1.17 bp	15.5 bp −$16	doesn't fit	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0904%	1h	0.04228	−0.681%	$69K	$99K	25x	as long as short
Kraken Futures PF_STRKUSD	−0.0192%	1h	0.04254	−0.082%	$445K	$583K	20x	as long as short
dYdX STRK-USD	0.0000%	1h	0.04256	−0.018%	$20K	$24K	5x	as long as short
Deribit STRK_USDC-PERPETUAL	0.0000%	1h	0.04254	−0.070%	$8K	$43K	25x	as long as short
Injective STRK/USDC PERP	+0.0033%	1h	0.05070	+19.098%	$3K	$38K	5.5x	as long as short
Lighter STRK	+0.0096%	1h	0.04261	+0.094%	$254K	$442K	5x	as long as short
Paradex STRK-USD-PERPshort	+0.0099%	8h	0.04255	−0.046%	$8K	$144	20x
Hyperliquid STRKlong	+0.0100%	1h	0.04257	long leg	$14.1M	$6.4M	5x
Aster STRKUSDT	+0.0100%	4h	0.04253	−0.105%	$33K	$229K	10x	as long as short
Pacifica STRK	+0.0100%	1h	0.04258	+0.021%	$42K	$69K	5x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance STRKUSDT	+0.0100%	4h	0.04254	−0.078%	$12.0M	$44.8M	75x	as long as short
Bybit STRKUSDT	+0.0100%	4h	0.04251	−0.141%	$14.8M	$20.1M	50x	as long as short
OKX STRK-USDT-SWAP	+0.0100%	4h	0.04256	−0.023%	$4.6M	$19.3M	50x	as long as short
Gate STRK_USDT	+0.0100%	4h	0.04249	−0.188%	$563K	$1.4M	50x	as long as short
MEXC STRK_USDT	+0.0100%	4h	0.04255	−0.047%	$11.3M	$2.1M	100x	as long as short
KuCoin STRKUSDTM	+0.0100%	4h	0.04257	0.000%	$1.5M	$1.9M	50x	as long as short
Bitget STRKUSDT	+0.0100%	4h	0.04254	−0.066%	$3.1M	$3.9M	75x	as long as short
BingX STRK-USDC	+0.0100%	4h	0.04251	−0.141%	—	$724K	—	as long as short
Backpack STRK_USDC_PERP	+0.0100%	1h	0.04248	−0.211%	$26K	$144K	10x	as long as short
Variational Omni STRK	+0.0100%	4h	0.04250	−0.170%	$418K	$1.9M	—	as long as short
GRVT STRK_USDT_Perp	+0.0100%	4h	0.04257	+0.001%	$186K	$3.5M	10x	as long as short
SunX STRK-USDT	+0.0100%	4h	0.04351	+2.208%	$2K	$864K	20x	as long as short
Extended STRK-USD	+0.0104%	1h	0.04248	−0.201%	$121K	$471K	10x	as long as short
BloFin STRK-USDT	+0.0340%	4h	0.04251	−0.141%	$695K	$755K	75x	as long as short