Funding arb · Price arb /

STRK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.005%

Price spread now: Variational Omni against Backpack−0.429%7-day average +0.023% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Backpack Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.235%−$24 on $10k

Price spread, last 4 days (all we have)+3.102%+$310 · spread now −0.429%, 7d avg +0.023%

Together, before fees+2.867%+ Points / potential airdropVariational Omni: Active · farm board+$287 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: Variational Omni is 0.452% cheaper against Backpack than usual: you would sell low and buy high, −$45 on $10k if it goes back to its 7-day average of +0.023%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack STRK_USDC_PERP	0.04251	0.0100	pay 0.0013% / 1h	20m 01s	$26K	$142K	10x
Short	Variational Omni STRK	0.04233	0.0100	get 0.0050% / 4h	2h 20m	$416K	$1.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.429%Rate

Funding earned: $0
Price spread: −0.429% → +0.023%: −$45.16
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$55.16
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Backpack: live order book, 28 min ago; Variational Omni: RFQ quote, 4 min ago. Net counts fees only.

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, 28 min ago	3.52 bp	20.3 bp −$20	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 4 min ago	4.73 bp	doesn't fit	78.0 bp −$780	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	−0.0904%	1h	0.04204	−1.106%	$69K	$99K	25x	as long as short
Kraken Futures PF_STRKUSD	−0.0192%	1h	0.04251	+0.010%	$446K	$588K	20x	as long as short
dYdX STRK-USD	0.0000%	1h	0.04245	−0.147%	$20K	$24K	5x	as long as short
Injective STRK/USDC PERP	+0.0033%	1h	0.05070	+19.266%	$3K	$38K	5.5x	as long as short
Lighter STRK	+0.0096%	1h	0.04257	+0.141%	$254K	$443K	5x	as long as short
Paradex STRK-USD-PERP	+0.0099%	8h	0.04246	−0.119%	$8K	$144	20x	as long as short
Hyperliquid STRK	+0.0100%	1h	0.04253	+0.047%	$14.1M	$6.4M	5x	as long as short
Aster STRKUSDT	+0.0100%	4h	0.04250	−0.020%	$33K	$229K	10x	as long as short
Pacifica STRK	+0.0100%	1h	0.04246	−0.115%	$42K	$69K	5x	as long as short
Binance STRKUSDT	+0.0100%	4h	0.04251	0.000%	$12.0M	$44.7M	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	0.04248	−0.071%	$14.8M	$20.2M	50x	as long as short
OKX STRK-USDT-SWAP	+0.0100%	4h	0.04252	+0.024%	$4.6M	$19.3M	50x	as long as short
Gate STRK_USDT	+0.0100%	4h	0.04244	−0.165%	$571K	$1.4M	50x	as long as short
MEXC STRK_USDT	+0.0100%	4h	0.04249	−0.047%	$11.4M	$2.1M	100x	as long as short
KuCoin STRKUSDTM	+0.0100%	4h	0.04252	+0.024%	$1.5M	$1.9M	50x	as long as short
Bitget STRKUSDT	+0.0100%	4h	0.04251	−0.002%	$3.0M	$3.9M	75x	as long as short
BingX STRK-USDT	+0.0100%	4h	0.04252	+0.024%	—	$10.1M	—	as long as short
Backpack STRK_USDC_PERPlong	+0.0100%	1h	0.04251	long leg	$26K	$142K	10x
Variational Omni STRKshort	+0.0100%	4h	0.04233	−0.429%	$416K	$1.9M	—
GRVT STRK_USDT_Perp	+0.0100%	4h	0.04226	−0.600%	$184K	$3.5M	10x	as long as short
SunX STRK-USDT	+0.0100%	4h	0.04351	+2.352%	$1K	$869K	20x	as long as short
Extended STRK-USD	+0.0104%	1h	0.04249	−0.049%	$119K	$474K	10x	as long as short
Deribit STRK_USDC-PERPETUAL	+0.0220%	1h	0.04253	+0.047%	$8K	$43K	25x	as long as short
BloFin STRK-USDT	+0.0340%	4h	0.04235	−0.376%	$681K	$767K	75x	as long as short