Funding arb · Price arb /

STRK

all STRK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0268%/8h= −29.3% APRpaid last 24h −0.092%

Price spread now: Bybit against Lighter−0.316%7-day average −0.158% · you buy dearer than you sell

Net, funding: paid 7d − costs−$109as in the Funding arb table

Net, price: spread back to 7d avg − costs−$86as in the Price arb table

costs, in and out, $10k−$700.699% of the position

Long on Lighter Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.387%−$39 on $10k

Price spread, last 4 days (all we have)+0.173%+$17 · spread now −0.316%, 7d avg −0.158%

Together, before fees−0.214%+ Points / potential airdropLighter: Season 3 · farm board−$21 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Bybit is 0.158% cheaper against Lighter than usual: you would sell low and buy high (−$16 if the spread goes back to its 7-day average of −0.158%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter STRK	0.04427	0.0368	pay 0.0046% / 1h	55m 08s	$273K	$541K	5x
Short	Bybit STRKUSDT	0.04413	0.0100	get 0.0050% / 4h	2h 55m	$15.5M	$21.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Lighter. 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 LighterbpFee BybitbpOrdersPrice spread, now −0.316%Rate

Funding earned: −$56.28
Price spread: −0.316% → −0.158%: −$15.81
Slippage, 4 orders: −$58.93
Fee Lighter: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$142.03
Costs to cover: 0.699%
Break-even: never at this rate

Slippage from Lighter: live order book, 29 min ago; Bybit: live order book, 3 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 Lighter live order book, 29 min ago	13.41 bp	23.5 bp −$24	63.8 bp −$638	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	1.13 bp	13.3 bp −$13	40.7 bp −$407	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	0.04387	−0.904%	$63K	$90K	25x	as long as short
dYdX STRK-USD	0.0000%	1h	0.04412	−0.350%	$21K	$24K	5x	as long as short
Injective STRK/USDC PERP	+0.0033%	1h	0.05070	+14.525%	$3K	$38K	5.5x	as long as short
Paradex STRK-USD-PERP	+0.0100%	8h	0.04411	−0.356%	$8K	$144	20x	as long as short
Hyperliquid STRK	+0.0100%	1h	0.04417	−0.226%	$15.2M	$7.7M	5x	as long as short
Aster STRKUSDT	+0.0100%	4h	0.04415	−0.263%	$35K	$382K	10x	as long as short
Pacifica STRK	+0.0100%	1h	0.04413	−0.316%	$42K	$49K	5x	as long as short
Binance STRKUSDT	+0.0100%	4h	0.04417	−0.226%	$12.8M	$51.2M	75x	as long as short
Bybit STRKUSDTshort	+0.0100%	4h	0.04413	−0.316%	$15.5M	$21.2M	50x
OKX STRK-USDT-SWAP	+0.0100%	4h	0.04414	−0.294%	$4.9M	$24.4M	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	0.04418	−0.203%	$594K	$1.4M	50x	as long as short
MEXC STRK_USDT	+0.0100%	4h	0.04417	−0.226%	$11.7M	$2.1M	100x	as long as short
KuCoin STRKUSDTM	+0.0100%	4h	0.04415	−0.271%	$1.5M	$2.0M	50x	as long as short
Bitget STRKUSDT	+0.0100%	4h	0.04416	−0.258%	$3.1M	$4.2M	75x	as long as short
BingX STRK-USDT	+0.0100%	4h	0.04414	−0.294%	—	$30.3M	—	as long as short
Backpack STRK_USDC_PERP	+0.0100%	1h	0.04418	−0.203%	$26K	$153K	10x	as long as short
Variational Omni STRK	+0.0100%	4h	0.04405	−0.486%	$260K	$1.6M	—	as long as short
GRVT STRK_USDT_Perp	+0.0100%	4h	0.04411	−0.360%	$191K	$3.5M	10x	as long as short
SunX STRK-USDT	+0.0100%	4h	0.04521	+2.123%	$2K	$814K	20x	as long as short
Extended STRK-USD	+0.0104%	1h	0.04416	−0.260%	$122K	$636K	10x	as long as short
BloFin STRK-USDT	+0.0143%	4h	0.04410	−0.384%	$789K	$731K	75x	as long as short
Kraken Futures PF_STRKUSD	+0.0336%	1h	0.04424	−0.070%	$471K	$507K	20x	as long as short
Lighter STRKlong	+0.0368%	1h	0.04427	long leg	$273K	$541K	5x
Deribit STRK_USDC-PERPETUAL	+0.0655%	1h	0.04423	−0.090%	$8K	$24K	25x	as long as short