Funding arb · Price arb /

STRK

all STRK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.0308%/8hnext payment +$0.39 per $10,000 · paid last 24h −0.174%

Price spread now: Backpack against Kraken Futures−0.068%7-day average −0.220% · you buy dearer than you sell

Net, funding: paid 7d − costs−$160as in the Funding arb table

Net, price: spread back to 7d avg − costs−$79as in the Price arb table

costs, in and out, $10k−$940.942% of the position

Long on Kraken Futures Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.660%−$66 on $10k

Price spread, last 3 days (all we have)−0.870%−$87 · spread now −0.068%, 7d avg −0.220%

Together, before fees−1.530%−$153 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Backpack is 0.152% dearer against Kraken Futures than usual: you sell high and buy low: +$15 more if the spread goes back to its 7-day average of −0.220%. Mind the row above: over the last 7 days funding on this pair cost −0.660%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_STRKUSD	0.04448	−0.0208	get 0.0026% / 1h	7m 09s	$476K	$503K	20x
Short	Backpack STRK_USDC_PERP	0.04445	0.0100	get 0.0013% / 1h	7m 09s	$25K	$161K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Kraken Futures. 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 Kraken FuturesbpFee BackpackbpOrdersPrice spread, now −0.068%Rate

Funding earned: $64.77
Price spread: −0.068% → −0.220%: $15.2
Slippage, 4 orders: −$74.21
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$14.23
Costs to cover: 0.942%
Break-even: 8.5 days

Slippage from Kraken Futures: live order book, 25 min ago; Backpack: live order book, 25 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 Kraken Futures live order book, 25 min ago	18.09 bp	25.8 bp −$26	2817.3 bp −$28.2K	doesn't fit	doesn't fit
Sell Backpack live order book, 25 min ago	1.13 bp	18.9 bp −$19	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	−0.0840%	1h	0.04442	−0.136%	$40K	$61K	25x	as long as short
Kraken Futures PF_STRKUSDlong	−0.0208%	1h	0.04448	long leg	$476K	$503K	20x
dYdX STRK-USD	0.0000%	1h	0.04439	−0.195%	$21K	$24K	5x	as long as short
Injective STRK/USDC PERP	+0.0033%	1h	0.05070	+13.983%	$3K	$38K	5.5x	as long as short
Hyperliquid STRK	+0.0100%	1h	0.04452	+0.089%	$15.5M	$7.7M	5x	as long as short
Aster STRKUSDT	+0.0100%	4h	0.04448	+0.002%	$36K	$386K	10x	as long as short
Pacifica STRK	+0.0100%	1h	0.04436	−0.275%	$42K	$49K	5x	as long as short
Binance STRKUSDT	+0.0100%	4h	0.04445	−0.068%	$12.8M	$52.6M	75x	as long as short
Bybit STRKUSDT	+0.0100%	4h	0.04443	−0.113%	$15.6M	$20.8M	50x	as long as short
OKX STRK-USDT-SWAP	+0.0100%	4h	0.04441	−0.158%	$4.9M	$25.4M	50x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate STRK_USDT	+0.0100%	4h	0.04440	−0.181%	$611K	$1.6M	50x	as long as short
MEXC STRK_USDT	+0.0100%	4h	0.04446	−0.046%	$11.9M	$2.4M	100x	as long as short
KuCoin STRKUSDTM	+0.0100%	4h	0.04443	−0.113%	$1.5M	$2.0M	50x	as long as short
Bitget STRKUSDT	+0.0100%	4h	0.04445	−0.062%	$3.1M	$4.1M	75x	as long as short
BingX STRK-USDC	+0.0100%	4h	0.04444	−0.091%	—	$721K	—	as long as short
Backpack STRK_USDC_PERPshort	+0.0100%	1h	0.04445	−0.068%	$25K	$161K	10x
Variational Omni STRK	+0.0100%	4h	0.04433	−0.328%	$257K	$996K	—	as long as short
GRVT STRK_USDT_Perp	+0.0100%	4h	0.04432	−0.353%	$188K	$3.3M	10x	as long as short
SunX STRK-USDT	+0.0100%	4h	0.04546	+2.202%	$2K	$799K	20x	as long as short
Paradex STRK-USD-PERP	+0.0100%	8h	0.04434	−0.324%	$8K	$144	20x	as long as short
Extended STRK-USD	+0.0104%	1h	0.04442	−0.143%	$122K	$664K	10x	as long as short
BloFin STRK-USDT	+0.0154%	4h	0.04442	−0.136%	$761K	$750K	75x	as long as short
Lighter STRK	+0.0272%	1h	0.04454	+0.134%	$273K	$629K	5x	as long as short
Deribit STRK_USDC-PERPETUAL	+0.0650%	1h	0.04450	+0.044%	$9K	$34K	25x	as long as short