Funding arb · Price arb /

SYRUP

all SYRUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0354%/8h= −38.8% APRpaid last 24h −0.188%

Price spread now: KuCoin against Hyperliquid+0.074%7-day average +0.018% · you sell dearer than you buy

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

Long on Hyperliquid Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.436%−$44 on $10k

Price spread, last 7 days+0.051%+$5 · spread now +0.074%, 7d avg +0.018%

Together, before fees−0.385%+ Points / potential airdropHyperliquid: Season 2 · farm board−$39 on $10k · with fees, hour by hour

The price spread pays, funding is against you. KuCoin is 0.055% dearer against Hyperliquid than usual: you sell high and buy low (spread +0.074% now, against its 7-day average of +0.018%): +$6 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 12 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid SYRUP	0.2311	0.0454	pay 0.0057% / 1h	43m 42s	$5.9M	$1.5M	3x
Short	KuCoin SYRUPUSDTM	0.2313	0.0100	get 0.0050% / 4h	1h 43m	$2.0M	$107K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.074%Rate

Funding earned: −$74.34
Price spread: +0.074% → +0.018%: $5.52
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$89.83
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 8 min ago; KuCoin: live order book, 3 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, 8 min ago	1.08 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 3 min ago	20.98 bp	158.5 bp −$159	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
BloFin SYRUP-USDT	+0.0057%	4h	0.2304	−0.312%	$466K	$133K	50x	as long as short
Lighter SYRUP	+0.0096%	1h	0.2309	−0.069%	$209K	$225K	5x	as long as short
Aster SYRUPUSDT	+0.0100%	4h	0.2306	−0.207%	$12K	$61K	10x	as long as short
Binance SYRUPUSDT	+0.0100%	4h	0.2306	−0.229%	$9.7M	$6.4M	25x	as long as short
Bybit SYRUPUSDT	+0.0100%	4h	0.2307	−0.173%	$2.3M	$1.9M	25x	as long as short
OKX SYRUP-USDT-SWAP	+0.0100%	4h	0.2306	−0.216%	$1.2M	$992K	20x	as long as short
Gate SYRUP_USDT	+0.0100%	8h	0.2306	−0.229%	$430K	$67K	25x	as long as short
MEXC SYRUP_USDT	+0.0100%	4h	0.2304	−0.303%	$3.1M	$560K	100x	as long as short
KuCoin SYRUPUSDTMshort	+0.0100%	4h	0.2313	+0.074%	$2.0M	$107K	25x
Bitget SYRUPUSDT	+0.0100%	4h	0.2305	−0.260%	$678K	$432K	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	0.2304	−0.307%	—	$6.5M	—	as long as short
Variational Omni SYRUP	+0.0100%	4h	0.2305	−0.241%	$166K	$51K	—	as long as short
Reya SYRUPRUSDPERP	+0.0149%	1h	0.2305	−0.279%	—	—	5x	as long as short
GMX SYRUP/USD [ETH-USDC]	L +0.0331% / S −0.1447%	1h	0.2304	−0.285%	$3K	—	50x	as long as short
Hyperliquid SYRUPlong	+0.0454%	1h	0.2311	long leg	$5.9M	$1.5M	3x
Kraken Futures PF_SYRUPUSD	+0.1420%	1h	0.2308	−0.143%	$42K	$23K	10x	as long as short