Funding arb · Price arb /

STRK

all STRK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.033%

Price spread now: Backpack against OKX+0.136%46s7-day average −0.011% · you sell dearer than you buy

Net, funding: paid 7d − costs+$1as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$680.685% of the position

Long on OKX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.693%+$69 on $10k

Price spread, last 4 days (all we have)−0.065%−$7 · spread now +0.136%, 7d avg −0.011%

Together, before fees+0.627%+$63 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 0.147% dearer against OKX than usual: you sell high and buy low, +$15 on $10k if it goes back to its 7-day average of −0.011%. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX STRK-USDT-SWAP	0.04401	0.0100	pay 0.0050% / 4h	2h 16m	$4.9M	$23.7M	50x
Short	Backpack STRK_USDC_PERP	0.04407	0.0100	get 0.0013% / 1h	16m 15s	$25K	$152K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against OKX. 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 OKXbpFee BackpackbpOrdersPrice spread, now +0.136%Rate

Funding earned: $0
Price spread: +0.136% → −0.011%: $14.69
Slippage, 4 orders: −$48.47
Fee OKX: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$53.79
Costs to cover: 0.685%
Break-even: never at this rate

Slippage from OKX: live order book, 2 min ago; Backpack: live order book, 7 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 OKX live order book, 2 min ago	1.13 bp	19.3 bp −$19	157.9 bp −$1,579	doesn't fit	doesn't fit
Sell Backpack live order book, 7 min ago	5.65 bp	17.3 bp −$17	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	−0.0352%	1h	0.04400	−0.023%	$63K	$91K	25x	as long as short
dYdX STRK-USD	0.0000%	1h	0.04410	+0.211%	$21K	$24K	5x	as long as short
Deribit STRK_USDC-PERPETUAL	0.0000%	1h	0.04407	+0.136%	$8K	$24K	25x	as long as short
Injective STRK/USDC PERP	+0.0033%	1h	0.05070	+15.201%	$3K	$38K	5.5x	as long as short
BloFin STRK-USDT	+0.0056%	4h	0.04408	+0.159%	$786K	$728K	75x	as long as short
Paradex STRK-USD-PERP	+0.0100%	8h	0.04404	+0.064%	$8K	$144	20x	as long as short
Hyperliquid STRK	+0.0100%	1h	0.04407	+0.136%	$15.2M	$7.2M	5x	as long as short
Aster STRKUSDT	+0.0100%	4h	0.04407	+0.136%	$35K	$374K	10x	as long as short
Pacifica STRK	+0.0100%	1h	0.04408	+0.157%	$44K	$69K	5x	as long as short
Binance STRKUSDT	+0.0100%	4h	0.04403	+0.045%	$12.7M	$50.2M	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	0.04401	0.000%	$15.6M	$21.1M	50x	as long as short
OKX STRK-USDT-SWAPlong	+0.0100%	4h	0.04401	long leg	$4.9M	$23.7M	50x
Gate STRK_USDT	+0.0100%	4h	0.04408	+0.159%	$591K	$1.5M	50x	as long as short
MEXC STRK_USDT	+0.0100%	4h	0.04403	+0.045%	$11.6M	$2.2M	100x	as long as short
KuCoin STRKUSDTM	+0.0100%	4h	0.04402	+0.023%	$1.5M	$1.9M	50x	as long as short
Bitget STRKUSDT	+0.0100%	4h	0.04407	+0.132%	$3.1M	$4.1M	75x	as long as short
BingX STRK-USDC	+0.0100%	4h	0.04403	+0.045%	—	$723K	—	as long as short
Backpack STRK_USDC_PERPshort	+0.0100%	1h	0.04407	+0.136%	$25K	$152K	10x
Variational Omni STRK	+0.0100%	4h	0.04416	+0.335%	$359K	$1.7M	—	as long as short
GRVT STRK_USDT_Perp	+0.0100%	4h	0.04412	+0.254%	$190K	$3.5M	10x	as long as short
SunX STRK-USDT	+0.0100%	4h	0.04507	+2.409%	$2K	$816K	20x	as long as short
Extended STRK-USD	+0.0104%	1h	0.04402	+0.033%	$122K	$626K	10x	as long as short
Lighter STRK	+0.0256%	1h	0.04417	+0.364%	$272K	$541K	5x	as long as short
Kraken Futures PF_STRKUSD	+0.0337%	1h	0.04414	+0.306%	$470K	$491K	20x	as long as short