Funding arb · Price arb /

STRK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.003%

Price spread now: Backpack against MEXC−0.116%7-day average −0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs+$16as in the Funding arb table

Net, price: spread back to 7d avg − costs−$64as in the Price arb table

costs, in and out, $10k−$530.530% of the position

Long on MEXC Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.690%+$69 on $10k

Price spread, last 4 days (all we have)+0.323%+$32 · spread now −0.116%, 7d avg −0.008%

Together, before fees+1.013%+$101 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 0.108% cheaper against MEXC than usual: you would sell low and buy high, −$11 on $10k if it goes back to its 7-day average of −0.008%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC STRK_USDT	0.04297	0.0100	pay 0.0050% / 4h	14m 30s	$11.4M	$2.1M	100x
Short	Backpack STRK_USDC_PERP	0.04292	0.0100	get 0.0013% / 1h	14m 30s	$28K	$143K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against MEXC. 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 MEXCbpFee BackpackbpOrdersPrice spread, now −0.116%Rate

Funding earned: $0
Price spread: −0.116% → −0.008%: −$10.85
Slippage, 4 orders: −$38.99
Fee MEXC: 2 bp × 2 orders: −$4
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$63.84
Costs to cover: 0.530%
Break-even: never at this rate

Slippage from MEXC: live order book, 4 min ago; Backpack: live order book, 24 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 MEXC live order book, 4 min ago	1.17 bp	8.8 bp −$9	22.0 bp −$220	86.7 bp −$8,667	194.9 bp −$97.4K
Sell Backpack live order book, 24 min ago	2.32 bp	20.3 bp −$20	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	−0.1224%	1h	0.04247	−1.164%	$69K	$86K	25x	as long as short
dYdX STRK-USD	0.0000%	1h	0.04297	+0.003%	$20K	$24K	5x	as long as short
Deribit STRK_USDC-PERPETUAL	0.0000%	1h	0.04288	−0.209%	$8K	$43K	25x	as long as short
Injective STRK/USDC PERP	+0.0033%	1h	0.05070	+17.989%	$3K	$38K	5.5x	as long as short
Lighter STRK	+0.0096%	1h	0.04305	+0.186%	$256K	$441K	5x	as long as short
Paradex STRK-USD-PERP	+0.0100%	8h	0.04298	+0.012%	$8K	$144	20x	as long as short
Hyperliquid STRK	+0.0100%	1h	0.04300	+0.070%	$14.1M	$5.9M	5x	as long as short
Aster STRKUSDT	+0.0100%	4h	0.04299	+0.047%	$33K	$212K	10x	as long as short
Pacifica STRK	+0.0100%	1h	0.04301	+0.093%	$43K	$65K	5x	as long as short
Binance STRKUSDT	+0.0100%	4h	0.04296	−0.018%	$12.2M	$43.3M	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	0.04294	−0.070%	$14.9M	$19.6M	50x	as long as short
OKX STRK-USDT-SWAP	+0.0100%	4h	0.04295	−0.047%	$4.6M	$18.5M	50x	as long as short
Gate STRK_USDT	+0.0100%	4h	0.04297	0.000%	$571K	$1.4M	50x	as long as short
MEXC STRK_USDTlong	+0.0100%	4h	0.04297	long leg	$11.4M	$2.1M	100x
KuCoin STRKUSDTM	+0.0100%	4h	0.04299	+0.047%	$1.5M	$1.8M	50x	as long as short
Bitget STRKUSDT	+0.0100%	4h	0.04297	−0.007%	$3.0M	$3.7M	75x	as long as short
BingX STRK-USDC	+0.0100%	4h	0.04296	−0.023%	—	$734K	—	as long as short
Backpack STRK_USDC_PERPshort	+0.0100%	1h	0.04292	−0.116%	$28K	$143K	10x
Variational Omni STRK	+0.0100%	4h	0.04283	−0.330%	$417K	$1.9M	—	as long as short
GRVT STRK_USDT_Perp	+0.0100%	4h	0.04284	−0.291%	$183K	$3.5M	10x	as long as short
SunX STRK-USDT	+0.0100%	4h	0.04385	+2.048%	$2K	$884K	20x	as long as short
Extended STRK-USD	+0.0104%	1h	0.04294	−0.058%	$119K	$876K	10x	as long as short
Kraken Futures PF_STRKUSD	+0.0336%	1h	0.04286	−0.250%	$445K	$501K	20x	as long as short
BloFin STRK-USDT	+0.0340%	4h	0.04282	−0.349%	$654K	$765K	75x	as long as short