Funding arb · Price arb /

STRK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.036%

Price spread now: Bybit against Hyperliquid−0.254%7-day average −0.202% · you buy dearer than you sell

Net, funding: paid 7d − costs−$94as in the Funding arb table

Net, price: spread back to 7d avg − costs−$66as in the Price arb table

costs, in and out, $10k−$610.609% of the position

Long on Hyperliquid Short on Bybit

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+0.054%+$5 · spread now −0.254%, 7d avg −0.202%

Together, before fees−0.278%+ Points / potential airdropHyperliquid: Season 2 · farm board−$28 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: Bybit is 0.052% cheaper against Hyperliquid than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.202%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid STRK	0.04336	0.0100	pay 0.0013% / 1h	27m 58s	$14.7M	$7.2M	5x
Short	Bybit STRKUSDT	0.04325	0.0100	get 0.0050% / 4h	2h 27m	$15.0M	$21.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Hyperliquid. 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 HyperliquidbpFee BybitbpOrdersPrice spread, now −0.254%Rate

Funding earned: $0
Price spread: −0.254% → −0.202%: −$5.15
Slippage, 4 orders: −$40.91
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$66.06
Costs to cover: 0.609%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 5 min ago; Bybit: live order book, 1 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 Hyperliquid live order book, 5 min ago	1.15 bp	16.1 bp −$16	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	1.15 bp	14.7 bp −$15	64.8 bp −$648	doesn't fit	doesn't fit

STRK on 23 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	−0.0560%	1h	0.04277	−1.361%	$60K	$87K	25x	as long as short
Kraken Futures PF_STRKUSD	−0.0305%	1h	0.04335	−0.015%	$456K	$539K	20x	as long as short
dYdX STRK-USD	0.0000%	1h	0.04326	−0.236%	$20K	$24K	5x	as long as short
Injective STRK/USDC PERP	+0.0033%	1h	0.05070	+16.928%	$3K	$38K	5.5x	as long as short
Paradex STRK-USD-PERP	+0.0100%	8h	0.04323	−0.306%	$8K	$144	20x	as long as short
Hyperliquid STRKlong	+0.0100%	1h	0.04336	long leg	$14.7M	$7.2M	5x
Aster STRKUSDT	+0.0100%	4h	0.04336	−0.007%	$33K	$328K	10x	as long as short
Pacifica STRK	+0.0100%	1h	0.04325	−0.251%	$43K	$69K	5x	as long as short
Binance STRKUSDT	+0.0100%	4h	0.04330	−0.141%	$12.3M	$47.6M	75x	as long as short
Bybit STRKUSDTshort	+0.0100%	4h	0.04325	−0.254%	$15.0M	$21.1M	50x

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX STRK-USDT-SWAP	+0.0100%	4h	0.04327	−0.208%	$4.7M	$21.9M	50x	as long as short
Gate STRK_USDT	+0.0100%	4h	0.04326	−0.231%	$588K	$1.3M	50x	as long as short
MEXC STRK_USDT	+0.0100%	4h	0.04328	−0.185%	$12.2M	$2.2M	100x	as long as short
KuCoin STRKUSDTM	+0.0100%	4h	0.04331	−0.115%	$1.5M	$1.8M	50x	as long as short
Bitget STRKUSDT	+0.0100%	4h	0.04331	−0.115%	$3.1M	$3.9M	75x	as long as short
BingX STRK-USDT	+0.0100%	4h	0.04331	−0.115%	—	$26.3M	—	as long as short
Backpack STRK_USDC_PERP	+0.0100%	1h	0.04332	−0.092%	$24K	$146K	10x	as long as short
Variational Omni STRK	+0.0100%	4h	0.04322	−0.327%	$332K	$2.0M	—	as long as short
GRVT STRK_USDT_Perp	+0.0100%	4h	0.04318	−0.415%	$187K	$3.6M	10x	as long as short
SunX STRK-USDT	+0.0100%	4h	0.04429	+2.145%	$2K	$842K	20x	as long as short
Extended STRK-USD	+0.0104%	1h	0.04326	−0.233%	$121K	$661K	10x	as long as short
Lighter STRK	+0.0240%	1h	0.04343	+0.161%	$265K	$506K	5x	as long as short
Deribit STRK_USDC-PERPETUAL	+0.0673%	1h	0.04339	+0.069%	$8K	$44K	25x	as long as short