Funding arb · Price arb /

SYRUP

all SYRUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0220%/8h= −24.1% APRpaid last 24h −0.179%

Price spread now: Binance against Hyperliquid−0.115%7-day average −0.191% · you buy dearer than you sell

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

Long on Hyperliquid Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.445%−$45 on $10k

Price spread, last 7 days+0.079%+$8 · spread now −0.115%, 7d avg −0.191%

Together, before fees−0.366%+ Points / potential airdropHyperliquid: Season 2 · farm board−$37 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Binance is 0.076% dearer against Hyperliquid than usual: you sell high and buy low (spread −0.115% now, against its 7-day average of −0.191%): +$8 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 28 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid SYRUP	0.2311	0.0320	pay 0.0040% / 1h	57m 03s	$5.9M	$1.5M	3x
Short	Binance SYRUPUSDT	0.2308	0.0100	get 0.0050% / 4h	1h 57m	$9.7M	$6.4M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Hyperliquid. 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 HyperliquidbpFee BinancebpOrdersPrice spread, now −0.115%Rate

Funding earned: −$46.15
Price spread: −0.115% → −0.191%: $7.64
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Binance: 5 bp × 2 orders: −$10
Net: −$57.52
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 5 min ago; Binance: live order book, 13 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 Hyperliquid live order book, 5 min ago	1.73 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 13 min ago	0.22 bp	23.3 bp −$23	91.5 bp −$915	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	+0.0084%	4h	0.2306	−0.193%	$471K	$134K	50x	as long as short
Lighter SYRUP	+0.0096%	1h	0.2310	−0.015%	$209K	$225K	5x	as long as short
Aster SYRUPUSDT	+0.0100%	4h	0.2307	−0.174%	$12K	$61K	10x	as long as short
Binance SYRUPUSDTshort	+0.0100%	4h	0.2308	−0.115%	$9.7M	$6.4M	25x
Bybit SYRUPUSDT	+0.0100%	4h	0.2309	−0.080%	$2.3M	$1.9M	25x	as long as short
OKX SYRUP-USDT-SWAP	+0.0100%	4h	0.2307	−0.154%	$1.2M	$991K	20x	as long as short
Gate SYRUP_USDT	+0.0100%	8h	0.2308	−0.128%	$431K	$66K	25x	as long as short
MEXC SYRUP_USDT	+0.0100%	4h	0.2305	−0.240%	$3.1M	$560K	100x	as long as short
KuCoin SYRUPUSDTM	+0.0100%	4h	0.2313	+0.106%	$2.0M	$107K	25x	as long as short
Bitget SYRUPUSDT	+0.0100%	4h	0.2306	−0.197%	$683K	$430K	20x	as long as short

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	−0.227%	—	$6.5M	—	as long as short
Variational Omni SYRUP	+0.0100%	4h	0.2309	−0.047%	$166K	$51K	—	as long as short
Reya SYRUPRUSDPERP	+0.0149%	1h	0.2306	−0.211%	—	—	5x	as long as short
Hyperliquid SYRUPlong	+0.0320%	1h	0.2311	long leg	$5.9M	$1.5M	3x
GMX SYRUP/USD [ETH-USDC]	L +0.0331% / S −0.1447%	1h	0.2305	−0.225%	$3K	—	50x	as long as short
Kraken Futures PF_SYRUPUSD	+0.1420%	1h	0.2308	−0.097%	$42K	$24K	10x	as long as short