Funding arb · Price arb /

STRK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.029%

Price spread now: Variational Omni against Backpack−0.117%7-day average +0.024% · 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 3 days (all we have)−0.238%−$24 on $10k

Price spread, last 4 days (all we have)+2.789%+$279 · spread now −0.117%, 7d avg +0.024%

Together, before fees+2.552%+ Points / potential airdropVariational Omni: Active · farm board+$255 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 0.141% cheaper against Backpack than usual: you would sell low and buy high, −$14 on $10k if it goes back to its 7-day average of +0.024%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack STRK_USDC_PERP	0.04368	0.0100	pay 0.0013% / 1h	4m 32s	$25K	$148K	10x
Short	Variational Omni STRK	0.04363	0.0100	get 0.0050% / 4h	4m 32s	$352K	$2.0M	—

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 −0.117%Rate

Funding earned: $0
Price spread: −0.117% → +0.024%: −$14.09
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$24.09
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Backpack: live order book, 9 min ago; Variational Omni: RFQ quote, 5 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, 9 min ago	3.42 bp	22.6 bp −$23	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 5 min ago	4.59 bp	doesn't fit	45.9 bp −$459	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	−0.0584%	1h	0.04342	−0.595%	$62K	$95K	25x	as long as short
dYdX STRK-USD	0.0000%	1h	0.04370	+0.054%	$20K	$24K	5x	as long as short
Injective STRK/USDC PERP	+0.0033%	1h	0.05070	+16.071%	$3K	$38K	5.5x	as long as short
BloFin STRK-USDT	+0.0091%	4h	0.04369	+0.023%	$747K	$727K	75x	as long as short
Paradex STRK-USD-PERP	+0.0100%	8h	0.04372	+0.093%	$8K	$144	20x	as long as short
Hyperliquid STRK	+0.0100%	1h	0.04376	+0.183%	$14.9M	$7.4M	5x	as long as short
Aster STRKUSDT	+0.0100%	4h	0.04374	+0.145%	$34K	$350K	10x	as long as short
Pacifica STRK	+0.0100%	1h	0.04374	+0.144%	$44K	$69K	5x	as long as short
Binance STRKUSDT	+0.0100%	4h	0.04375	+0.162%	$12.5M	$49.4M	75x	as long as short
Bybit STRKUSDT	+0.0100%	4h	0.04370	+0.046%	$15.3M	$21.5M	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	0.04373	+0.114%	$4.9M	$23.0M	50x	as long as short
Gate STRK_USDT	+0.0100%	4h	0.04365	−0.069%	$583K	$1.4M	50x	as long as short
MEXC STRK_USDT	+0.0100%	4h	0.04374	+0.137%	$12.5M	$2.2M	100x	as long as short
KuCoin STRKUSDTM	+0.0100%	4h	0.04371	+0.069%	$1.5M	$1.9M	50x	as long as short
Bitget STRKUSDT	+0.0100%	4h	0.04373	+0.110%	$3.1M	$4.0M	75x	as long as short
BingX STRK-USDT	+0.0100%	4h	0.04371	+0.069%	—	$26.4M	—	as long as short
Backpack STRK_USDC_PERPlong	+0.0100%	1h	0.04368	long leg	$25K	$148K	10x
Variational Omni STRKshort	+0.0100%	4h	0.04363	−0.117%	$352K	$2.0M	—
GRVT STRK_USDT_Perp	+0.0100%	4h	0.04371	+0.069%	$190K	$3.6M	10x	as long as short
SunX STRK-USDT	+0.0100%	4h	0.04470	+2.335%	$2K	$835K	20x	as long as short
Extended STRK-USD	+0.0104%	1h	0.04373	+0.116%	$121K	$625K	10x	as long as short
Deribit STRK_USDC-PERPETUAL	+0.0436%	1h	0.04373	+0.114%	$8K	$44K	25x	as long as short
Kraken Futures PF_STRKUSD	+0.0506%	1h	0.04369	+0.033%	$467K	$515K	20x	as long as short
Lighter STRK	+0.0664%	1h	0.04383	+0.343%	$271K	$507K	5x	as long as short