Funding arb · Price arb /

SYRUP

all SYRUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0026%/8h= −2.8% APRpaid last 24h −0.202%

Price spread now: BingX against Hyperliquid−0.174%7-day average −0.151% · you buy dearer than you sell

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

Long on Hyperliquid Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.480%−$48 on $10k

Price spread, last 7 days+0.147%+$15 · spread now −0.174%, 7d avg −0.151%

Together, before fees−0.333%+ Points / potential airdropHyperliquid: Season 2 · farm board−$33 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and BingX is 0.022% cheaper against Hyperliquid than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.151%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid SYRUP	0.2247	0.0126	pay 0.0016% / 1h	20m 54s	$5.6M	$1.8M	3x
Short	BingX SYRUP-USDT	0.2243	0.0100	get 0.0050% / 4h	1h 20m	—	$6.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Hyperliquid. 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 HyperliquidbpFee BingXbpOrdersPrice spread, now −0.174%Rate

Funding earned: −$5.37
Price spread: −0.174% → −0.151%: −$2.23
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee BingX: 5 bp × 2 orders: −$10
Net: −$26.6
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 11 min ago; BingX: live order book, 5 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, 11 min ago	2.23 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 5 min ago	5.37 bp	30.1 bp −$30	85.2 bp −$852	548.2 bp −$54.8K	1180.2 bp −$590.1K

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 SYRUP	+0.0096%	1h	0.2245	−0.062%	$207K	$218K	5x	as long as short
Aster SYRUPUSDT	+0.0100%	4h	0.2239	−0.318%	$14K	$66K	10x	as long as short
Binance SYRUPUSDT	+0.0100%	4h	0.2242	−0.202%	$9.2M	$7.0M	25x	as long as short
Bybit SYRUPUSDT	+0.0100%	4h	0.2243	−0.151%	$2.2M	$2.1M	25x	as long as short
OKX SYRUP-USDT-SWAP	+0.0100%	4h	0.2241	−0.249%	$1.1M	$1.1M	20x	as long as short
Gate SYRUP_USDT	+0.0100%	8h	0.2241	−0.267%	$415K	$71K	25x	as long as short
MEXC SYRUP_USDT	+0.0100%	4h	0.2242	−0.205%	$2.9M	$423K	100x	as long as short
KuCoin SYRUPUSDTM	+0.0100%	4h	0.2248	+0.071%	$1.9M	$151K	25x	as long as short
Bitget SYRUPUSDT	+0.0100%	4h	0.2243	−0.160%	$705K	$500K	20x	as long as short
BingX SYRUP-USDTshort	+0.0100%	4h	0.2243	−0.174%	—	$6.5M	—

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni SYRUP	+0.0100%	4h	0.2243	−0.172%	$161K	$32K	—	as long as short
BloFin SYRUP-USDT	+0.0109%	4h	0.2238	−0.392%	$438K	$126K	50x	as long as short
Hyperliquid SYRUPlong	+0.0126%	1h	0.2247	long leg	$5.6M	$1.8M	3x
Reya SYRUPRUSDPERP	+0.0149%	1h	0.2243	−0.178%	—	—	5x	as long as short
GMX SYRUP/USD [ETH-USDC]	L +0.0330% / S −0.1447%	1h	0.2242	−0.191%	$3K	—	50x	as long as short
Kraken Futures PF_SYRUPUSD	+0.0827%	1h	0.2240	−0.284%	$41K	$25K	10x	as long as short