Funding arb · Price arb /

STRK

all STRK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0236%/8h= +25.8% APRpaid last 24h +0.085%

Price spread now: Lighter against Bybit+0.410%7-day average +0.160% · you sell dearer than you buy

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$750.749% of the position

Long on Bybit Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.389%+$39 on $10k

Price spread, last 4 days (all we have)−0.281%−$28 · spread now +0.410%, 7d avg +0.160%

Together, before fees+0.107%+ Points / potential airdropLighter: Season 3 · farm board+$11 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Lighter is 0.250% dearer against Bybit than usual: you sell high and buy low: +$25 more if the spread goes back to its 7-day average of +0.160%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit STRKUSDT	0.04393	0.0100	pay 0.0050% / 4h	1h 58m	$15.6M	$21.4M	50x
Short	Lighter STRK	0.04411	0.0336	get 0.0042% / 1h	58m 29s	$272K	$540K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Bybit. 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 BybitbpFee LighterbpOrdersPrice spread, now +0.410%Rate

Funding earned: $49.56
Price spread: +0.410% → +0.160%: $24.97
Slippage, 4 orders: −$63.88
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Lighter: 0 bp × 2 orders: $0
Net: −$0.35
Costs to cover: 0.749%
Break-even: 7.0 days

Slippage from Bybit: live order book, 5 min ago; Lighter: 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 Bybit live order book, 5 min ago	1.14 bp	14.4 bp −$14	41.1 bp −$411	doesn't fit	doesn't fit
Sell Lighter live order book, 17 min ago	9.06 bp	25.1 bp −$25	70.0 bp −$700	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	−0.0592%	1h	0.04397	+0.091%	$63K	$95K	25x	as long as short
dYdX STRK-USD	0.0000%	1h	0.04402	+0.200%	$21K	$24K	5x	as long as short
Injective STRK/USDC PERP	+0.0033%	1h	0.05070	+15.411%	$3K	$38K	5.5x	as long as short
BloFin STRK-USDT	+0.0094%	4h	0.04399	+0.137%	$768K	$728K	75x	as long as short
Paradex STRK-USD-PERP	+0.0100%	8h	0.04396	+0.078%	$8K	$144	20x	as long as short
Hyperliquid STRK	+0.0100%	1h	0.04402	+0.205%	$15.1M	$7.3M	5x	as long as short
Aster STRKUSDT	+0.0100%	4h	0.04401	+0.187%	$34K	$363K	10x	as long as short
Pacifica STRK	+0.0100%	1h	0.04400	+0.159%	$44K	$69K	5x	as long as short
Binance STRKUSDT	+0.0100%	4h	0.04398	+0.108%	$12.7M	$50.2M	75x	as long as short
Bybit STRKUSDTlong	+0.0100%	4h	0.04393	long leg	$15.6M	$21.4M	50x

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX STRK-USDT-SWAP	+0.0100%	4h	0.04395	+0.046%	$4.9M	$23.7M	50x	as long as short
Gate STRK_USDT	+0.0100%	4h	0.04400	+0.159%	$589K	$1.4M	50x	as long as short
MEXC STRK_USDT	+0.0100%	4h	0.04398	+0.114%	$12.2M	$2.1M	100x	as long as short
KuCoin STRKUSDTM	+0.0100%	4h	0.04398	+0.114%	$1.5M	$1.9M	50x	as long as short
Bitget STRKUSDT	+0.0100%	4h	0.04400	+0.150%	$3.1M	$4.1M	75x	as long as short
BingX STRK-USDT	+0.0100%	4h	0.04396	+0.068%	—	$25.9M	—	as long as short
Backpack STRK_USDC_PERP	+0.0100%	1h	0.04400	+0.159%	$25K	$152K	10x	as long as short
Variational Omni STRK	+0.0100%	4h	0.04404	+0.257%	$258K	$1.8M	—	as long as short
GRVT STRK_USDT_Perp	+0.0100%	4h	0.04404	+0.250%	$191K	$3.5M	10x	as long as short
SunX STRK-USDT	+0.0100%	4h	0.04504	+2.527%	$2K	$821K	20x	as long as short
Extended STRK-USD	+0.0104%	1h	0.04393	−0.005%	$122K	$626K	10x	as long as short
Lighter STRKshort	+0.0336%	1h	0.04411	+0.410%	$272K	$540K	5x
Deribit STRK_USDC-PERPETUAL	+0.0432%	1h	0.04405	+0.273%	$8K	$24K	25x	as long as short
Kraken Futures PF_STRKUSD	+0.1162%	1h	0.04416	+0.533%	$470K	$490K	20x	as long as short