STRK

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0390%/8h= −42.7% APRnext payment −$0.49 per $10,000 · paid last 24h −0.150%

Price spread now: Backpack against Kraken Futures−0.006%7-day average −0.217% · you buy dearer than you sell

Net, funding: paid 7d − costs−$173as in the Funding arb table

Net, price: spread back to 7d avg − costs−$81as in the Price arb table

costs, in and out, $10k−$1031.026% of the position

Long on Kraken Futures Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.704%−$70 on $10k

Price spread, last 3 days (all we have)−1.265%−$127 · spread now −0.006%, 7d avg −0.217%

Together, before fees−1.969%−$197 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Backpack is 0.211% dearer against Kraken Futures than usual: you sell high and buy low (spread −0.006% now, against its 7-day average of −0.217%): +$21 on $10k if it goes back. Holding the pair costs −$12 a day in funding at the current rate, which eats that in about 43 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_STRKUSD	0.04403	0.0502	pay 0.0063% / 1h	31m 33s	$472K	$512K	20x
Short	Backpack STRK_USDC_PERP	0.04403	0.0112	get 0.0014% / 1h	31m 33s	$25K	$148K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Kraken Futures. 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 Kraken FuturesbpFee BackpackbpOrdersPrice spread, now −0.006%Rate

Funding earned: −$81.99
Price spread: −0.006% → −0.217%: $21.08
Slippage, 4 orders: −$82.56
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$163.46
Costs to cover: 1.026%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 46 min ago; Backpack: live order book, 46 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 Kraken Futures live order book, 46 min ago	15.94 bp	36.1 bp −$36	42.1 bp −$421	doesn't fit	doesn't fit
Sell Backpack live order book, 46 min ago	2.28 bp	21.0 bp −$21	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	−0.0584%	1h	0.04383	−0.461%	$62K	$96K	25x	as long as short
dYdX STRK-USD	+0.0001%	1h	0.04400	−0.068%	$21K	$24K	5x	as long as short
Injective STRK/USDC PERP	+0.0033%	1h	0.05070	+15.142%	$3K	$38K	5.5x	as long as short
Paradex STRK-USD-PERP	+0.0100%	8h	0.04396	−0.174%	$8K	$144	20x	as long as short
Hyperliquid STRK	+0.0100%	1h	0.04404	+0.016%	$15.0M	$7.5M	5x	as long as short
Aster STRKUSDT	+0.0100%	4h	0.04400	−0.067%	$34K	$350K	10x	as long as short
Pacifica STRK	+0.0100%	1h	0.04400	−0.077%	$44K	$69K	5x	as long as short
Binance STRKUSDT	+0.0100%	4h	0.04397	−0.143%	$12.6M	$49.7M	75x	as long as short
Bybit STRKUSDT	+0.0100%	4h	0.04395	−0.188%	$15.6M	$21.4M	50x	as long as short
OKX STRK-USDT-SWAP	+0.0100%	4h	0.04396	−0.165%	$4.9M	$23.4M	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	0.04397	−0.143%	$589K	$1.4M	50x	as long as short
MEXC STRK_USDT	+0.0100%	4h	0.04398	−0.120%	$12.3M	$2.1M	100x	as long as short
KuCoin STRKUSDTM	+0.0100%	4h	0.04399	−0.097%	$1.5M	$1.9M	50x	as long as short
Bitget STRKUSDT	+0.0100%	4h	0.04395	−0.193%	$3.1M	$4.1M	75x	as long as short
BingX STRK-USDT	+0.0100%	4h	0.04395	−0.188%	—	$26.4M	—	as long as short
Variational Omni STRK	+0.0100%	4h	0.04393	−0.222%	$358K	$2.0M	—	as long as short
GRVT STRK_USDT_Perp	+0.0100%	4h	0.04398	−0.122%	$193K	$3.6M	10x	as long as short
SunX STRK-USDT	+0.0100%	4h	0.04507	+2.356%	$2K	$834K	20x	as long as short
Extended STRK-USD	+0.0104%	1h	0.04396	−0.171%	$122K	$625K	10x	as long as short
Backpack STRK_USDC_PERPshort	+0.0112%	1h	0.04403	−0.006%	$25K	$148K	10x
BloFin STRK-USDT	+0.0149%	4h	0.04397	−0.143%	$751K	$730K	75x	as long as short
Kraken Futures PF_STRKUSDlong	+0.0502%	1h	0.04403	long leg	$472K	$512K	20x
Deribit STRK_USDC-PERPETUAL	+0.0658%	1h	0.04408	+0.107%	$2K	$34K	25x	as long as short
Lighter STRK	+0.0720%	1h	0.04410	+0.153%	$272K	$506K	5x	as long as short