Funding arb · Price arb /

SYRUP

all SYRUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.064%

Price spread now: Lighter against Bitget+0.126%7-day average +0.079% · you sell dearer than you buy

Net, funding: paid 7d − costs−$101as in the Funding arb table

Net, price: spread back to 7d avg − costs−$103as in the Price arb table

costs, in and out, $10k−$1081.078% of the position

Long on Bitget Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.069%+$7 on $10k

Price spread, last 4 days (all we have)+0.158%+$16 · spread now +0.126%, 7d avg +0.079%

Together, before fees+0.227%+ Points / potential airdropLighter: Season 3 · farm board+$23 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: Lighter is 0.047% dearer against Bitget than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.079%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget SYRUPUSDT	0.2303	0.0100	pay 0.0050% / 4h	3h 41m	$678K	$448K	20x
Short	Lighter SYRUP	0.2306	0.0096	get 0.0012% / 1h	41m 45s	$210K	$217K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Bitget. 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 BitgetbpFee LighterbpOrdersPrice spread, now +0.126%Rate

Funding earned: −$0.84
Price spread: +0.126% → +0.079%: $4.67
Slippage, 4 orders: −$95.82
Fee Bitget: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$103.99
Costs to cover: 1.078%
Break-even: never at this rate

Slippage from Bitget: live order book, 29 min ago; Lighter: live order book, 14 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 Bitget live order book, 29 min ago	12.99 bp	25.0 bp −$25	140.6 bp −$1,406	doesn't fit	doesn't fit
Sell Lighter live order book, 14 min ago	17.09 bp	36.1 bp −$36	629.8 bp −$6,298	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
Lighter SYRUPshort	+0.0096%	1h	0.2306	+0.126%	$210K	$217K	5x
Aster SYRUPUSDT	+0.0100%	4h	0.2303	−0.020%	$14K	$63K	10x	as long as short
Binance SYRUPUSDT	+0.0100%	4h	0.2302	−0.061%	$9.6M	$6.7M	25x	as long as short
Bybit SYRUPUSDT	+0.0100%	4h	0.2303	+0.017%	$2.3M	$2.0M	25x	as long as short
OKX SYRUP-USDT-SWAP	+0.0100%	4h	0.2301	−0.087%	$1.2M	$1.1M	20x	as long as short
Gate SYRUP_USDT	+0.0100%	8h	0.2302	−0.056%	$428K	$68K	25x	as long as short
MEXC SYRUP_USDT	+0.0100%	4h	0.2302	−0.043%	$3.0M	$579K	100x	as long as short
Bitget SYRUPUSDTlong	+0.0100%	4h	0.2303	long leg	$678K	$448K	20x
BingX SYRUP-USDT	+0.0100%	4h	0.2303	−0.004%	—	$6.5M	—	as long as short
Variational Omni SYRUP	+0.0100%	4h	0.2301	−0.076%	$166K	$46K	—	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin SYRUP-USDT	+0.0144%	4h	0.2301	−0.104%	$457K	$133K	50x	as long as short
Reya SYRUPRUSDPERP	+0.0149%	1h	0.2303	+0.006%	—	—	5x	as long as short
KuCoin SYRUPUSDTM	+0.0166%	4h	0.2312	+0.386%	$2.0M	$112K	25x	as long as short
GMX SYRUP/USD [ETH-USDC]	L +0.0330% / S −0.1447%	1h	0.2302	−0.050%	$3K	—	50x	as long as short
Hyperliquid SYRUP	+0.0448%	1h	0.2307	+0.156%	$5.9M	$1.6M	3x	as long as short
Kraken Futures PF_SYRUPUSD	+0.1571%	1h	0.2301	−0.073%	$41K	$23K	10x	as long as short