Funding arb · Price arb /

STRK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.049%

Price spread now: Hyperliquid against OKX+0.204%7-day average +0.131% · you sell dearer than you buy

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$57as in the Price arb table

costs, in and out, $10k−$640.641% of the position

Long on OKX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.332%+$33 on $10k

Price spread, last 7 days−0.047%−$5 · spread now +0.204%, 7d avg +0.131%

Together, before fees+0.285%+ Points / potential airdropHyperliquid: Season 2 · farm board+$29 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: Hyperliquid is 0.074% dearer against OKX than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of +0.131%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX STRK-USDT-SWAP	0.04407	0.0100	pay 0.0050% / 4h	2h 40m	$4.9M	$23.9M	50x
Short	Hyperliquid STRK	0.04416	0.0100	get 0.0013% / 1h	40m 42s	$15.2M	$7.3M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.204%Rate

Funding earned: $0
Price spread: +0.204% → +0.131%: $7.37
Slippage, 4 orders: −$45.08
Fee OKX: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$56.71
Costs to cover: 0.641%
Break-even: never at this rate

Slippage from OKX: live order book, 3 min ago; Hyperliquid: live order book, 2 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, 3 min ago	2.27 bp	19.5 bp −$19	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 2 min ago	1.13 bp	18.4 bp −$18	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	0.04374	−0.749%	$63K	$90K	25x	as long as short
dYdX STRK-USD	0.0000%	1h	0.04413	+0.133%	$21K	$24K	5x	as long as short
Injective STRK/USDC PERP	+0.0033%	1h	0.05070	+15.044%	$3K	$38K	5.5x	as long as short
BloFin STRK-USDT	+0.0045%	4h	0.04413	+0.136%	$781K	$723K	75x	as long as short
Paradex STRK-USD-PERP	+0.0100%	8h	0.04413	+0.128%	$8K	$144	20x	as long as short
Hyperliquid STRKshort	+0.0100%	1h	0.04416	+0.204%	$15.2M	$7.3M	5x
Aster STRKUSDT	+0.0100%	4h	0.04414	+0.152%	$35K	$374K	10x	as long as short
Pacifica STRK	+0.0100%	1h	0.04412	+0.104%	$42K	$49K	5x	as long as short
Binance STRKUSDT	+0.0100%	4h	0.04414	+0.159%	$12.7M	$50.4M	75x	as long as short
Bybit STRKUSDT	+0.0100%	4h	0.04406	−0.023%	$15.4M	$21.0M	50x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX STRK-USDT-SWAPlong	+0.0100%	4h	0.04407	long leg	$4.9M	$23.9M	50x
Gate STRK_USDT	+0.0100%	4h	0.04418	+0.250%	$594K	$1.4M	50x	as long as short
MEXC STRK_USDT	+0.0100%	4h	0.04414	+0.159%	$11.7M	$2.2M	100x	as long as short
KuCoin STRKUSDTM	+0.0100%	4h	0.04411	+0.091%	$1.5M	$1.9M	50x	as long as short
Bitget STRKUSDT	+0.0100%	4h	0.04410	+0.077%	$3.1M	$4.1M	75x	as long as short
BingX STRK-USDT	+0.0100%	4h	0.04410	+0.068%	—	$30.2M	—	as long as short
Backpack STRK_USDC_PERP	+0.0100%	1h	0.04411	+0.091%	$25K	$152K	10x	as long as short
Variational Omni STRK	+0.0100%	4h	0.04391	−0.374%	$264K	$1.6M	—	as long as short
GRVT STRK_USDT_Perp	+0.0100%	4h	0.04397	−0.227%	$189K	$3.5M	10x	as long as short
SunX STRK-USDT	+0.0100%	4h	0.04515	+2.451%	$1K	$811K	20x	as long as short
Extended STRK-USD	+0.0104%	1h	0.04408	+0.030%	$122K	$626K	10x	as long as short
Lighter STRK	+0.0176%	1h	0.04424	+0.386%	$273K	$541K	5x	as long as short
Deribit STRK_USDC-PERPETUAL	+0.0203%	1h	0.04416	+0.204%	$8K	$24K	25x	as long as short
Kraken Futures PF_STRKUSD	+0.0336%	1h	0.04424	+0.377%	$471K	$494K	20x	as long as short