Funding arb · Price arb /

STRK

all STRK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.003%

Price spread now: Backpack against Binance−0.137%7-day average +0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs+$3as in the Funding arb table

Net, price: spread back to 7d avg − costs−$82as in the Price arb table

costs, in and out, $10k−$660.665% of the position

Long on Binance Short on Backpack

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)+0.810%+$81 · spread now −0.137%, 7d avg +0.015%

Together, before fees+1.500%+$150 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: Backpack is 0.153% cheaper against Binance than usual: you would sell low and buy high, −$15 on $10k if it goes back to its 7-day average of +0.015%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance STRKUSDT	0.04307	0.0100	pay 0.0050% / 4h	0m 22s	$12.2M	$43.2M	75x
Short	Backpack STRK_USDC_PERP	0.04301	0.0100	get 0.0013% / 1h	0m 22s	$27K	$143K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Binance. 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 BinancebpFee BackpackbpOrdersPrice spread, now −0.137%Rate

Funding earned: $0
Price spread: −0.137% → +0.015%: −$15.26
Slippage, 4 orders: −$46.45
Fee Binance: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$81.72
Costs to cover: 0.665%
Break-even: never at this rate

Slippage from Binance: live order book, 12 min ago; Backpack: live order book, 38 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 Binance live order book, 12 min ago	1.17 bp	13.2 bp −$13	39.7 bp −$397	doesn't fit	doesn't fit
Sell Backpack live order book, 38 min ago	2.32 bp	20.3 bp −$20	doesn't fit	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	−0.1224%	1h	0.04263	−1.020%	$69K	$86K	25x	as long as short
dYdX STRK-USD	0.0000%	1h	0.04307	+0.005%	$20K	$24K	5x	as long as short
Injective STRK/USDC PERP	+0.0033%	1h	0.05070	+17.718%	$3K	$38K	5.5x	as long as short
Lighter STRK	+0.0096%	1h	0.04313	+0.141%	$256K	$441K	5x	as long as short
Paradex STRK-USD-PERP	+0.0100%	8h	0.04305	−0.037%	$8K	$144	20x	as long as short
Hyperliquid STRK	+0.0100%	1h	0.04310	+0.072%	$14.1M	$5.8M	5x	as long as short
Aster STRKUSDT	+0.0100%	4h	0.04308	+0.028%	$33K	$212K	10x	as long as short
Pacifica STRK	+0.0100%	1h	0.04309	+0.041%	$43K	$65K	5x	as long as short
Binance STRKUSDTlong	+0.0100%	4h	0.04307	long leg	$12.2M	$43.2M	75x
Bybit STRKUSDT	+0.0100%	4h	0.04303	−0.091%	$14.9M	$19.6M	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	0.04304	−0.068%	$4.6M	$18.4M	50x	as long as short
Gate STRK_USDT	+0.0100%	4h	0.04308	+0.025%	$571K	$1.4M	50x	as long as short
MEXC STRK_USDT	+0.0100%	4h	0.04307	+0.002%	$11.4M	$2.1M	100x	as long as short
KuCoin STRKUSDTM	+0.0100%	4h	0.04308	+0.025%	$1.5M	$1.8M	50x	as long as short
Bitget STRKUSDT	+0.0100%	4h	0.04306	−0.033%	$3.0M	$3.7M	75x	as long as short
BingX STRK-USDT	+0.0100%	4h	0.04305	−0.044%	—	$9.7M	—	as long as short
Backpack STRK_USDC_PERPshort	+0.0100%	1h	0.04301	−0.137%	$27K	$143K	10x
Variational Omni STRK	+0.0100%	4h	0.04294	−0.302%	$418K	$1.9M	—	as long as short
GRVT STRK_USDT_Perp	+0.0100%	4h	0.04294	−0.298%	$182K	$3.4M	10x	as long as short
SunX STRK-USDT	+0.0100%	4h	0.04401	+2.185%	$1K	$887K	20x	as long as short
Extended STRK-USD	+0.0104%	1h	0.04305	−0.035%	$120K	$880K	10x	as long as short
Kraken Futures PF_STRKUSD	+0.0335%	1h	0.04301	−0.134%	$447K	$488K	20x	as long as short
BloFin STRK-USDT	+0.0340%	4h	0.04292	−0.346%	$652K	$763K	75x	as long as short
Deribit STRK_USDC-PERPETUAL	+0.0680%	1h	0.04305	−0.044%	$8K	$43K	25x	as long as short