Funding arb · Price arb /

SYRUP

all SYRUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0150%/8h= +16.4% APRpaid last 24h +0.179%

Price spread now: Hyperliquid against Bitget+0.165%7-day average +0.212% · you sell dearer than you buy

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

Long on Bitget Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.430%+$43 on $10k

Price spread, last 4 days (all we have)+0.100%+$10 · spread now +0.165%, 7d avg +0.212%

Together, before fees+0.530%+ Points / potential airdropHyperliquid: Season 2 · farm board+$53 on $10k · with fees, hour by hour

Funding pays, the price is against you. Hyperliquid is 0.047% cheaper against Bitget than usual: you would sell low and buy high (spread +0.165% now, against its 7-day average of +0.212%). If the spread goes back, that is −$5 on $10k: about 25 hours of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget SYRUPUSDT	0.2306	0.0100	pay 0.0050% / 4h	1h 57m	$683K	$429K	20x
Short	Hyperliquid SYRUP	0.2310	0.0250	get 0.0031% / 1h	57m 34s	$5.9M	$1.5M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Bitget. 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 BitgetbpFee HyperliquidbpOrdersPrice spread, now +0.165%Rate

Funding earned: $31.52
Price spread: +0.165% → +0.212%: −$4.7
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $5.82
Costs to cover: 0.210%
Break-even: 5.7 days

Slippage unknown: Bitget: live order book, 23 min ago; Hyperliquid: live order book, 4 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 Bitget live order book, 23 min ago	10.70 bp	23.9 bp −$24	95.3 bp −$953	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 4 min ago	1.73 bp	13.9 bp −$14	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
BloFin SYRUP-USDT	+0.0050%	4h	0.2309	+0.113%	$471K	$134K	50x	as long as short
Lighter SYRUP	+0.0096%	1h	0.2310	+0.173%	$209K	$225K	5x	as long as short
Aster SYRUPUSDT	+0.0100%	4h	0.2306	+0.009%	$12K	$61K	10x	as long as short
Binance SYRUPUSDT	+0.0100%	4h	0.2305	−0.048%	$9.7M	$6.4M	25x	as long as short
Bybit SYRUPUSDT	+0.0100%	4h	0.2307	+0.039%	$2.3M	$1.9M	25x	as long as short
OKX SYRUP-USDT-SWAP	+0.0100%	4h	0.2305	−0.043%	$1.2M	$990K	20x	as long as short
Gate SYRUP_USDT	+0.0100%	8h	0.2307	+0.061%	$431K	$66K	25x	as long as short
MEXC SYRUP_USDT	+0.0100%	4h	0.2304	−0.087%	$3.1M	$559K	100x	as long as short
KuCoin SYRUPUSDTM	+0.0100%	4h	0.2312	+0.269%	$2.0M	$107K	25x	as long as short
Bitget SYRUPUSDTlong	+0.0100%	4h	0.2306	long leg	$683K	$429K	20x

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX SYRUP-USDT	+0.0100%	4h	0.2305	−0.043%	—	$6.5M	—	as long as short
Variational Omni SYRUP	+0.0100%	4h	0.2309	+0.150%	$166K	$51K	—	as long as short
Reya SYRUPRUSDPERP	+0.0149%	1h	0.2306	−0.014%	—	—	5x	as long as short
Hyperliquid SYRUPshort	+0.0250%	1h	0.2310	+0.165%	$5.9M	$1.5M	3x
GMX SYRUP/USD [ETH-USDC]	L +0.0331% / S −0.1447%	1h	0.2305	−0.023%	$3K	—	50x	as long as short
Kraken Futures PF_SYRUPUSD	+0.1419%	1h	0.2310	+0.179%	$42K	$24K	10x	as long as short