Funding arb · Price arb /

SYRUP

all SYRUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0274%/8h= −30.0% APRpaid last 24h −0.176%

Price spread now: BloFin against Hyperliquid−0.233%7-day average −0.254% · you buy dearer than you sell

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

Long on Hyperliquid Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.445%−$44 on $10k

Price spread, last 3 days (all we have)−0.109%−$11 · spread now −0.233%, 7d avg −0.254%

Together, before fees−0.553%+ Points / potential airdropHyperliquid: Season 2 · farm board−$55 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BloFin is 0.021% dearer against Hyperliquid than usual: you sell high and buy low (spread −0.233% now, against its 7-day average of −0.254%): +$2 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 6 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid SYRUP	0.2315	0.0412	pay 0.0051% / 1h	54m 51s	$5.9M	$1.5M	3x
Short	BloFin SYRUP-USDT	0.2310	0.0138	get 0.0069% / 4h	1h 54m	$468K	$134K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.233%Rate

Funding earned: −$57.49
Price spread: −0.233% → −0.254%: $2.08
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$76.41
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 7 min ago; BloFin: live order book, 26 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, 7 min ago	1.73 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 26 min ago	2.79 bp	20.3 bp −$20	doesn't fit	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 SYRUP	+0.0096%	1h	0.2314	−0.030%	$210K	$225K	5x	as long as short
Aster SYRUPUSDT	+0.0100%	4h	0.2312	−0.150%	$12K	$61K	10x	as long as short
Binance SYRUPUSDT	+0.0100%	4h	0.2310	−0.206%	$9.7M	$6.4M	25x	as long as short
Bybit SYRUPUSDT	+0.0100%	4h	0.2312	−0.134%	$2.3M	$1.9M	25x	as long as short
OKX SYRUP-USDT-SWAP	+0.0100%	4h	0.2310	−0.216%	$1.2M	$992K	20x	as long as short
Gate SYRUP_USDT	+0.0100%	8h	0.2311	−0.168%	$431K	$66K	25x	as long as short
MEXC SYRUP_USDT	+0.0100%	4h	0.2310	−0.216%	$3.1M	$560K	100x	as long as short
KuCoin SYRUPUSDTM	+0.0100%	4h	0.2317	+0.104%	$2.0M	$107K	25x	as long as short
Bitget SYRUPUSDT	+0.0100%	4h	0.2310	−0.216%	$682K	$430K	20x	as long as short
BingX SYRUP-USDT	+0.0100%	4h	0.2310	−0.212%	—	$6.5M	—	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni SYRUP	+0.0100%	4h	0.2310	−0.199%	$166K	$51K	—	as long as short
BloFin SYRUP-USDTshort	+0.0138%	4h	0.2310	−0.233%	$468K	$134K	50x
Reya SYRUPRUSDPERP	+0.0149%	1h	0.2310	−0.230%	—	—	5x	as long as short
GMX SYRUP/USD [ETH-USDC]	L +0.0331% / S −0.1447%	1h	0.2309	−0.244%	$3K	—	50x	as long as short
Hyperliquid SYRUPlong	+0.0412%	1h	0.2315	long leg	$5.9M	$1.5M	3x
Kraken Futures PF_SYRUPUSD	+0.1418%	1h	0.2311	−0.159%	$42K	$24K	10x	as long as short