Funding arb · Price arb /

STRK

all STRK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.033%

Price spread now: Binance against Backpack+0.037%7-day average −0.020% · you sell dearer than you buy

Net, funding: paid 7d − costs−$129as in the Funding arb table

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$600.604% of the position

Long on Backpack Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.690%−$69 on $10k

Price spread, last 4 days (all we have)−0.168%−$17 · spread now +0.037%, 7d avg −0.020%

Together, before fees−0.858%−$86 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: Binance is 0.057% dearer against Backpack than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.020%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack STRK_USDC_PERP	0.04395	0.0100	pay 0.0013% / 1h	38m 16s	$25K	$150K	10x
Short	Binance STRKUSDT	0.04397	0.0100	get 0.0050% / 4h	1h 38m	$12.7M	$50.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.037%Rate

Funding earned: $0
Price spread: +0.037% → −0.020%: $5.7
Slippage, 4 orders: −$40.36
Fee Backpack: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$54.65
Costs to cover: 0.604%
Break-even: never at this rate

Slippage from Backpack: live order book, 45 min ago; Binance: live order book, 4 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, 45 min ago	5.65 bp	17.9 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 4 min ago	1.13 bp	13.8 bp −$14	37.2 bp −$372	398.8 bp −$39.9K	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	0.04385	−0.228%	$62K	$96K	25x	as long as short
dYdX STRK-USD	0.0000%	1h	0.04401	+0.126%	$21K	$24K	5x	as long as short
Injective STRK/USDC PERP	+0.0033%	1h	0.05070	+15.358%	$3K	$38K	5.5x	as long as short
BloFin STRK-USDT	+0.0070%	4h	0.04400	+0.114%	$761K	$727K	75x	as long as short
Paradex STRK-USD-PERP	+0.0100%	8h	0.04396	+0.024%	$8K	$144	20x	as long as short
Hyperliquid STRK	+0.0100%	1h	0.04400	+0.114%	$15.1M	$7.3M	5x	as long as short
Aster STRKUSDT	+0.0100%	4h	0.04399	+0.084%	$34K	$363K	10x	as long as short
Pacifica STRK	+0.0100%	1h	0.04398	+0.075%	$44K	$69K	5x	as long as short
Binance STRKUSDTshort	+0.0100%	4h	0.04397	+0.037%	$12.7M	$50.0M	75x
Bybit STRKUSDT	+0.0100%	4h	0.04391	−0.091%	$15.5M	$21.4M	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-SWAP	+0.0100%	4h	0.04394	−0.023%	$4.9M	$23.6M	50x	as long as short
Gate STRK_USDT	+0.0100%	4h	0.04399	+0.091%	$587K	$1.4M	50x	as long as short
MEXC STRK_USDT	+0.0100%	4h	0.04398	+0.068%	$12.2M	$2.1M	100x	as long as short
KuCoin STRKUSDTM	+0.0100%	4h	0.04393	−0.046%	$1.5M	$1.9M	50x	as long as short
Bitget STRKUSDT	+0.0100%	4h	0.04396	+0.014%	$3.1M	$4.1M	75x	as long as short
BingX STRK-USDT	+0.0100%	4h	0.04395	0.000%	—	$26.0M	—	as long as short
Backpack STRK_USDC_PERPlong	+0.0100%	1h	0.04395	long leg	$25K	$150K	10x
Variational Omni STRK	+0.0100%	4h	0.04397	+0.045%	$259K	$1.9M	—	as long as short
GRVT STRK_USDT_Perp	+0.0100%	4h	0.04402	+0.155%	$194K	$3.5M	10x	as long as short
SunX STRK-USDT	+0.0100%	4h	0.04500	+2.389%	$2K	$824K	20x	as long as short
Extended STRK-USD	+0.0104%	1h	0.04391	−0.098%	$122K	$626K	10x	as long as short
Deribit STRK_USDC-PERPETUAL	+0.0432%	1h	0.04400	+0.114%	$8K	$24K	25x	as long as short
Lighter STRK	+0.0448%	1h	0.04407	+0.273%	$272K	$540K	5x	as long as short
Kraken Futures PF_STRKUSD	+0.1166%	1h	0.04401	+0.144%	$478K	$496K	20x	as long as short