Funding arb · Price arb /

SYRUP

all SYRUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0024%/8h= +2.6% APRpaid last 24h +0.062%

Price spread now: Lighter against BloFin+0.208%90s7-day average +0.127% · you sell dearer than you buy

Net, funding: paid 7d − costs−$94as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1031.028% of the position

Long on BloFin Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.086%+$9 on $10k

Price spread, last 4 days (all we have)−0.047%−$5 · spread now +0.208%, 7d avg +0.127%

Together, before fees+0.039%+ Points / potential airdropLighter: Season 3 · farm board+$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Lighter is 0.081% dearer against BloFin than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.127%. The two prices were read 90 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin SYRUP-USDT	0.2215	0.0072	pay 0.0036% / 4h	25m 35s	$430K	$129K	50x
Short	Lighter SYRUP	0.2219	0.0096	get 0.0012% / 1h	25m 35s	$205K	$219K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against BloFin. 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 BloFinbpFee LighterbpOrdersPrice spread, now +0.208%Rate

Funding earned: $5.06
Price spread: +0.208% → +0.127%: $8.12
Slippage, 4 orders: −$90.8
Fee BloFin: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$89.63
Costs to cover: 1.028%
Break-even: 131.0 days

Slippage from BloFin: live order book, 10 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 BloFin live order book, 10 min ago	0.23 bp	26.9 bp −$27	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 14 min ago	13.28 bp	31.6 bp −$32	496.2 bp −$4,962	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	−0.0804%	1h	0.2215	+0.026%	$40K	$24K	10x	as long as short
BloFin SYRUP-USDTlong	+0.0072%	4h	0.2215	long leg	$430K	$129K	50x
Lighter SYRUPshort	+0.0096%	1h	0.2219	+0.208%	$205K	$219K	5x
Hyperliquid SYRUP	+0.0100%	1h	0.2221	+0.316%	$5.5M	$1.9M	3x	as long as short
Aster SYRUPUSDT	+0.0100%	4h	0.2215	+0.014%	$14K	$69K	10x	as long as short
Binance SYRUPUSDT	+0.0100%	4h	0.2216	+0.086%	$9.0M	$7.3M	25x	as long as short
Bybit SYRUPUSDT	+0.0100%	4h	0.2217	+0.090%	$2.2M	$2.1M	25x	as long as short
OKX SYRUP-USDT-SWAP	+0.0100%	4h	0.2217	+0.113%	$1.1M	$1.1M	20x	as long as short
Gate SYRUP_USDT	+0.0100%	8h	0.2213	−0.068%	$408K	$70K	25x	as long as short
MEXC SYRUP_USDT	+0.0100%	4h	0.2215	+0.023%	$2.8M	$425K	100x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin SYRUPUSDTM	+0.0100%	4h	0.2215	+0.036%	$1.9M	$152K	25x	as long as short
Bitget SYRUPUSDT	+0.0100%	4h	0.2216	+0.068%	$700K	$508K	20x	as long as short
BingX SYRUP-USDT	+0.0100%	4h	0.2216	+0.068%	—	$6.5M	—	as long as short
Variational Omni SYRUP	+0.0100%	4h	0.2216	+0.072%	$158K	$31K	—	as long as short
Reya SYRUPRUSDPERP	+0.0149%	1h	0.2215	+0.041%	—	—	5x	as long as short
GMX SYRUP/USD [ETH-USDC]	L +0.0329% / S −0.1447%	1h	0.2216	+0.051%	$3K	—	50x	as long as short