Funding arb · Price arb /

SYRUP

all SYRUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0049%/8h= +5.4% APRpaid last 24h —

Price spread now: Reya against Aster−0.080%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Aster Short on Reya

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropAster: Stage 5 · Reya: Active · farm boardneeds both histories

Funding pays, the price is against you. Reya is 0.080% cheaper against Aster than usual: you would sell low and buy high (spread −0.080% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$8 on $10k: about 5.5 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster SYRUPUSDT	0.2241	0.0100	pay 0.0050% / 4h	2h 05m	$14K	$66K	10x
Short	Reya SYRUPRUSDPERP	0.2240	0.0149	get 0.0019% / 1h	5m 01s	—	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Aster. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 AsterbpFee ReyabpOrdersPrice spread, now −0.080%Rate

Funding earned: $10.28
Price spread: −0.080% → 0.000%: −$8.01
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Reya: 3 bp × 2 orders: −$6
Net: −$11.73
Costs to cover: 0.140%
Break-even: 15.0 days

Slippage unknown: Aster: no order-book sample; Reya: no order-book sample. 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 Aster no order-book sample	—	—	—	—	—
Sell Reya no order-book sample	—	—	—	—	—

Aster and Reya: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

SYRUP on 15 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
Lighter SYRUP	+0.0096%	1h	0.2243	+0.072%	$207K	$218K	5x	as long as short
Aster SYRUPUSDTlong	+0.0100%	4h	0.2241	long leg	$14K	$66K	10x
Binance SYRUPUSDT	+0.0100%	4h	0.2239	−0.102%	$9.2M	$7.0M	25x	as long as short
Bybit SYRUPUSDT	+0.0100%	4h	0.2241	−0.026%	$2.2M	$2.1M	25x	as long as short
OKX SYRUP-USDT-SWAP	+0.0100%	4h	0.2239	−0.111%	$1.1M	$1.1M	20x	as long as short
Gate SYRUP_USDT	+0.0100%	8h	0.2239	−0.120%	$416K	$68K	25x	as long as short
MEXC SYRUP_USDT	+0.0100%	4h	0.2239	−0.111%	$2.9M	$433K	100x	as long as short
KuCoin SYRUPUSDTM	+0.0100%	4h	0.2241	−0.026%	$2.0M	$121K	25x	as long as short
Bitget SYRUPUSDT	+0.0100%	4h	0.2241	−0.022%	$650K	$456K	20x	as long as short
BingX SYRUP-USDT	+0.0100%	4h	0.2239	−0.124%	—	$6.5M	—	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni SYRUP	+0.0100%	4h	0.2240	−0.059%	$161K	$37K	—	as long as short
Reya SYRUPRUSDPERPshort	+0.0149%	1h	0.2240	−0.080%	—	—	5x
Hyperliquid SYRUP	+0.0316%	1h	0.2244	+0.118%	$5.6M	$1.8M	3x	as long as short
GMX SYRUP/USD [ETH-USDC]	L +0.0328% / S −0.1447%	1h	0.2240	−0.058%	$3K	—	50x	as long as short
Kraken Futures PF_SYRUPUSD	+0.1026%	1h	0.2239	−0.098%	$41K	$25K	10x	as long as short