Funding arb · Price arb /

SYRUP

all SYRUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0049%/8h= +5.4% APRpaid last 24h —

Price spread now: Reya against Bybit−0.049%46s7-day average — · you buy dearer than you sell

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

Long on Bybit 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 airdropReya: Active · farm boardneeds both histories

Funding pays, the price is against you. Reya is 0.049% cheaper against Bybit than usual: you would sell low and buy high (spread −0.049% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 3.4 days of funding at the current rate (+$1 a day). The two prices were read 46 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	Bybit SYRUPUSDT	0.2217	0.0100	pay 0.0050% / 4h	25m 44s	$2.2M	$2.1M	25x
Short	Reya SYRUPRUSDPERP	0.2215	0.0149	get 0.0019% / 1h	25m 44s	—	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Bybit. 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 BybitbpFee ReyabpOrdersPrice spread, now −0.049%Rate

Funding earned: $10.28
Price spread: −0.049% → 0.000%: −$4.95
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Reya: 3 bp × 2 orders: −$6
Net: −$11.67
Costs to cover: 0.170%
Break-even: 14.9 days

Slippage unknown: Bybit: live order book, 1 min ago; 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 Bybit live order book, 1 min ago	2.71 bp	44.8 bp −$45	220.2 bp −$2,202	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

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 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	−0.064%	$40K	$24K	10x	as long as short
BloFin SYRUP-USDT	+0.0072%	4h	0.2215	−0.090%	$430K	$129K	50x	as long as short
Lighter SYRUP	+0.0096%	1h	0.2219	+0.117%	$205K	$219K	5x	as long as short
Hyperliquid SYRUP	+0.0100%	1h	0.2221	+0.226%	$5.5M	$1.9M	3x	as long as short
Aster SYRUPUSDT	+0.0100%	4h	0.2215	−0.076%	$14K	$69K	10x	as long as short
Binance SYRUPUSDT	+0.0100%	4h	0.2216	−0.005%	$9.0M	$7.3M	25x	as long as short
Bybit SYRUPUSDTlong	+0.0100%	4h	0.2217	long leg	$2.2M	$2.1M	25x
OKX SYRUP-USDT-SWAP	+0.0100%	4h	0.2217	+0.023%	$1.1M	$1.1M	20x	as long as short
Gate SYRUP_USDT	+0.0100%	8h	0.2213	−0.158%	$408K	$70K	25x	as long as short
MEXC SYRUP_USDT	+0.0100%	4h	0.2215	−0.068%	$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	−0.054%	$1.9M	$152K	25x	as long as short
Bitget SYRUPUSDT	+0.0100%	4h	0.2216	−0.023%	$700K	$508K	20x	as long as short
BingX SYRUP-USDT	+0.0100%	4h	0.2216	−0.023%	—	$6.5M	—	as long as short
Variational Omni SYRUP	+0.0100%	4h	0.2216	−0.018%	$158K	$31K	—	as long as short
Reya SYRUPRUSDPERPshort	+0.0149%	1h	0.2215	−0.049%	—	—	5x
GMX SYRUP/USD [ETH-USDC]	L +0.0329% / S −0.1447%	1h	0.2216	−0.039%	$3K	—	50x	as long as short