Funding arb · Price arb /

SYRUP

all SYRUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0154%/8h= +16.9% APRpaid last 24h +0.195%

Price spread now: Hyperliquid against BingX+0.186%7-day average +0.153% · you sell dearer than you buy

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

Long on BingX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.481%+$48 on $10k

Price spread, last 7 days−0.181%−$18 · spread now +0.186%, 7d avg +0.153%

Together, before fees+0.300%+ Points / potential airdropHyperliquid: Season 2 · farm board+$30 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Hyperliquid is 0.033% dearer against BingX than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.153%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX SYRUP-USDT	0.2201	0.0100	pay 0.0050% / 4h	3h 08m	—	$6.5M	—
Short	Hyperliquid SYRUP	0.2205	0.0254	get 0.0032% / 1h	8m 36s	$5.4M	$1.9M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against BingX. 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 BingXbpFee HyperliquidbpOrdersPrice spread, now +0.186%Rate

Funding earned: $32.42
Price spread: +0.186% → +0.153%: $3.35
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $16.77
Costs to cover: 0.190%
Break-even: 3.4 days

Slippage unknown: BingX: live order book, 12 min ago; Hyperliquid: live order book, 3 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 BingX live order book, 12 min ago	5.00 bp	24.0 bp −$24	76.6 bp −$766	721.6 bp −$72.2K	1126.9 bp −$563.4K
Sell Hyperliquid live order book, 3 min ago	1.13 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit

SYRUP on 16 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
Kraken Futures PF_SYRUPUSD	−0.0049%	1h	0.2201	+0.024%	$39K	$23K	10x	as long as short
BloFin SYRUP-USDT	+0.0083%	4h	0.2200	−0.009%	$421K	$127K	50x	as long as short
Lighter SYRUP	+0.0096%	1h	0.2204	+0.145%	$204K	$218K	5x	as long as short
Aster SYRUPUSDT	+0.0100%	4h	0.2204	+0.143%	$14K	$68K	10x	as long as short
Binance SYRUPUSDT	+0.0100%	4h	0.2199	−0.059%	$8.9M	$7.5M	25x	as long as short
Bybit SYRUPUSDT	+0.0100%	4h	0.2201	+0.032%	$2.2M	$2.2M	25x	as long as short
OKX SYRUP-USDT-SWAP	+0.0100%	4h	0.2200	−0.032%	$1.0M	$1.1M	20x	as long as short
Gate SYRUP_USDT	+0.0100%	8h	0.2200	−0.045%	$405K	$65K	25x	as long as short
MEXC SYRUP_USDT	+0.0100%	4h	0.2199	−0.077%	$2.8M	$425K	100x	as long as short
KuCoin SYRUPUSDTM	+0.0100%	4h	0.2209	+0.382%	$1.8M	$151K	25x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SYRUPUSDT	+0.0100%	4h	0.2203	+0.105%	$703K	$505K	20x	as long as short
BingX SYRUP-USDTlong	+0.0100%	4h	0.2201	long leg	—	$6.5M	—
Variational Omni SYRUP	+0.0100%	4h	0.2206	+0.245%	$158K	$26K	—	as long as short
Reya SYRUPRUSDPERP	+0.0149%	1h	0.2201	−0.004%	—	—	5x	as long as short
Hyperliquid SYRUPshort	+0.0254%	1h	0.2205	+0.186%	$5.4M	$1.9M	3x
GMX SYRUP/USD [ETH-USDC]	L +0.0314% / S −0.1301%	1h	0.2201	+0.030%	$2K	—	50x	as long as short