STRK

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0237%/8h= +26.0% APRnext payment +$0.30 per $10,000 · paid last 24h +0.002%

Price spread now: Kraken Futures against Backpack−0.055%51s7-day average +0.202% · you buy dearer than you sell

Net, funding: paid 7d − costs−$46as 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−$1231.235% of the position

Long on Backpack Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.773%+$77 on $10k

Price spread, last 4 days (all we have)+0.993%+$99 · spread now −0.055%, 7d avg +0.202%

Together, before fees+1.767%+$177 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.257% cheaper against Backpack than usual: you would sell low and buy high (spread −0.055% now, against its 7-day average of +0.202%). If the spread goes back, that is −$26 on $10k: about 3.6 days of funding at the current rate (+$7 a day). The two prices were read 51 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	Backpack STRK_USDC_PERP	0.04281	0.0100	pay 0.0013% / 1h	21m 18s	$27K	$144K	10x
Short	Kraken Futures PF_STRKUSD	0.04279	0.0337	get 0.0042% / 1h	21m 18s	$445K	$507K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Backpack. 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 BackpackbpFee Kraken FuturesbpOrdersPrice spread, now −0.055%Rate

Funding earned: $49.78
Price spread: −0.055% → +0.202%: −$25.71
Slippage, 4 orders: −$103.49
Fee Backpack: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$99.41
Costs to cover: 1.235%
Break-even: 21.0 days

Slippage from Backpack: live order book, 17 min ago; Kraken Futures: live order book, 17 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 Backpack live order book, 17 min ago	2.32 bp	17.8 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 17 min ago	16.22 bp	40.9 bp −$41	563.7 bp −$5,637	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	−0.794%	$69K	$86K	25x	as long as short
dYdX STRK-USD	0.0000%	1h	0.04282	+0.028%	$20K	$24K	5x	as long as short
Deribit STRK_USDC-PERPETUAL	0.0000%	1h	0.04281	0.000%	$8K	$43K	25x	as long as short
Injective STRK/USDC PERP	+0.0033%	1h	0.05070	+18.430%	$3K	$38K	5.5x	as long as short
Lighter STRK	+0.0096%	1h	0.04288	+0.164%	$255K	$440K	5x	as long as short
Paradex STRK-USD-PERP	+0.0100%	8h	0.04283	+0.057%	$8K	$144	20x	as long as short
Hyperliquid STRK	+0.0100%	1h	0.04284	+0.070%	$14.1M	$5.9M	5x	as long as short
Aster STRKUSDT	+0.0100%	4h	0.04283	+0.037%	$33K	$212K	10x	as long as short
Pacifica STRK	+0.0100%	1h	0.04288	+0.154%	$42K	$65K	5x	as long as short
Binance STRKUSDT	+0.0100%	4h	0.04281	0.000%	$12.2M	$43.4M	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	0.04278	−0.070%	$14.8M	$19.7M	50x	as long as short
OKX STRK-USDT-SWAP	+0.0100%	4h	0.04276	−0.117%	$4.6M	$18.4M	50x	as long as short
Gate STRK_USDT	+0.0100%	4h	0.04284	+0.070%	$570K	$1.4M	50x	as long as short
MEXC STRK_USDT	+0.0100%	4h	0.04282	+0.023%	$11.4M	$2.1M	100x	as long as short
KuCoin STRKUSDTM	+0.0100%	4h	0.04285	+0.093%	$1.5M	$1.8M	50x	as long as short
Bitget STRKUSDT	+0.0100%	4h	0.04280	−0.030%	$3.0M	$3.7M	75x	as long as short
BingX STRK-USDT	+0.0100%	4h	0.04280	−0.023%	—	$9.8M	—	as long as short
Backpack STRK_USDC_PERPlong	+0.0100%	1h	0.04281	long leg	$27K	$144K	10x
Variational Omni STRK	+0.0100%	4h	0.04259	−0.521%	$419K	$1.9M	—	as long as short
GRVT STRK_USDT_Perp	+0.0100%	4h	0.04261	−0.466%	$184K	$3.5M	10x	as long as short
SunX STRK-USDT	+0.0100%	4h	0.04383	+2.383%	$2K	$883K	20x	as long as short
Extended STRK-USD	+0.0104%	1h	0.04276	−0.108%	$119K	$876K	10x	as long as short
Kraken Futures PF_STRKUSDshort	+0.0337%	1h	0.04279	−0.055%	$445K	$507K	20x
BloFin STRK-USDT	+0.0340%	4h	0.04286	+0.117%	$660K	$765K	75x	as long as short