Funding arb · Price arb /

STRK

all STRK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.011%

Price spread now: OKX against Backpack−0.071%7-day average +0.009% · you buy dearer than you sell

Net, funding: paid 7d − costs−$145as in the Funding arb table

Net, price: spread back to 7d avg − costs−$84as in the Price arb table

costs, in and out, $10k−$760.761% of the position

Long on Backpack Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.693%−$69 on $10k

Price spread, last 4 days (all we have)−0.057%−$6 · spread now −0.071%, 7d avg +0.009%

Together, before fees−0.750%−$75 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: OKX is 0.079% cheaper against Backpack than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack STRK_USDC_PERP	0.04248	0.0100	pay 0.0013% / 1h	2m 45s	$27K	$145K	10x
Short	OKX STRK-USDT-SWAP	0.04245	0.0100	get 0.0050% / 4h	3h 02m	$4.6M	$19.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.071%Rate

Funding earned: $0
Price spread: −0.071% → +0.009%: −$7.93
Slippage, 4 orders: −$56.07
Fee Backpack: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$84
Costs to cover: 0.761%
Break-even: never at this rate

Slippage from Backpack: live order book, 50 min ago; OKX: 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 Backpack live order book, 50 min ago	2.31 bp	21.4 bp −$21	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 1 min ago	1.18 bp	19.6 bp −$20	42.9 bp −$429	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	−0.1032%	1h	0.04228	−0.471%	$69K	$99K	25x	as long as short
dYdX STRK-USD	0.0000%	1h	0.04254	+0.145%	$20K	$24K	5x	as long as short
Deribit STRK_USDC-PERPETUAL	0.0000%	1h	0.04253	+0.118%	$8K	$43K	25x	as long as short
Injective STRK/USDC PERP	+0.0033%	1h	0.05070	+19.350%	$3K	$38K	5.5x	as long as short
Kraken Futures PF_STRKUSD	+0.0060%	1h	0.04248	+0.009%	$446K	$581K	20x	as long as short
Lighter STRK	+0.0096%	1h	0.04255	+0.165%	$254K	$473K	5x	as long as short
Paradex STRK-USD-PERP	+0.0099%	8h	0.04253	+0.125%	$8K	$144	20x	as long as short
Hyperliquid STRK	+0.0100%	1h	0.04248	0.000%	$14.1M	$6.5M	5x	as long as short
Aster STRKUSDT	+0.0100%	4h	0.04244	−0.100%	$33K	$229K	10x	as long as short
Pacifica STRK	+0.0100%	1h	0.04257	+0.202%	$42K	$69K	5x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance STRKUSDT	+0.0100%	4h	0.04243	−0.119%	$12.0M	$44.9M	75x	as long as short
Bybit STRKUSDT	+0.0100%	4h	0.04241	−0.165%	$14.8M	$20.2M	50x	as long as short
OKX STRK-USDT-SWAPshort	+0.0100%	4h	0.04245	−0.071%	$4.6M	$19.4M	50x
Gate STRK_USDT	+0.0100%	4h	0.04242	−0.141%	$557K	$1.4M	50x	as long as short
MEXC STRK_USDT	+0.0100%	4h	0.04248	0.000%	$11.4M	$2.1M	100x	as long as short
KuCoin STRKUSDTM	+0.0100%	4h	0.04249	+0.024%	$1.4M	$1.8M	50x	as long as short
Bitget STRKUSDT	+0.0100%	4h	0.04246	−0.047%	$3.1M	$3.9M	75x	as long as short
BingX STRK-USDC	+0.0100%	4h	0.04245	−0.071%	—	$724K	—	as long as short
Backpack STRK_USDC_PERPlong	+0.0100%	1h	0.04248	long leg	$27K	$145K	10x
Variational Omni STRK	+0.0100%	4h	0.04255	+0.159%	$418K	$2.0M	—	as long as short
GRVT STRK_USDT_Perp	+0.0100%	4h	0.04253	+0.118%	$186K	$3.5M	10x	as long as short
SunX STRK-USDT	+0.0100%	4h	0.04349	+2.378%	$2K	$860K	20x	as long as short
Extended STRK-USD	+0.0104%	1h	0.04245	−0.061%	$119K	$472K	10x	as long as short
BloFin STRK-USDT	+0.0340%	4h	0.04254	+0.141%	$720K	$754K	75x	as long as short