Funding arb · Price arb /

SYRUP

all SYRUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0516%/8h= −56.5% APRpaid last 24h −0.188%

Price spread now: MEXC against Hyperliquid−0.268%7-day average −0.196% · you buy dearer than you sell

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

Long on Hyperliquid Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.457%−$46 on $10k

Price spread, last 7 days+0.220%+$22 · spread now −0.268%, 7d avg −0.196%

Together, before fees−0.237%+ Points / potential airdropHyperliquid: Season 2 · farm board−$24 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$15 a day on $10k at the current rate, and MEXC is 0.071% cheaper against Hyperliquid than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.196%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid SYRUP	0.2314	0.0616	pay 0.0077% / 1h	40m 16s	$5.9M	$1.5M	3x
Short	MEXC SYRUP_USDT	0.2308	0.0100	get 0.0050% / 4h	1h 40m	$3.1M	$560K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.268%Rate

Funding earned: −$108.32
Price spread: −0.268% → −0.196%: −$7.15
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee MEXC: 4 bp × 2 orders: −$8
Net: −$132.47
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 2 min ago; MEXC: live order book, 2 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, 2 min ago	1.51 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 2 min ago	4.33 bp	12.2 bp −$12	64.6 bp −$646	320.5 bp −$32.1K	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	+0.0086%	4h	0.2309	−0.216%	$466K	$133K	50x	as long as short
Lighter SYRUP	+0.0096%	1h	0.2312	−0.086%	$210K	$225K	5x	as long as short
Aster SYRUPUSDT	+0.0100%	4h	0.2309	−0.216%	$12K	$61K	10x	as long as short
Binance SYRUPUSDT	+0.0100%	4h	0.2309	−0.216%	$9.7M	$6.4M	25x	as long as short
Bybit SYRUPUSDT	+0.0100%	4h	0.2308	−0.246%	$2.3M	$1.9M	25x	as long as short
OKX SYRUP-USDT-SWAP	+0.0100%	4h	0.2307	−0.311%	$1.2M	$992K	20x	as long as short
Gate SYRUP_USDT	+0.0100%	8h	0.2309	−0.229%	$431K	$67K	25x	as long as short
MEXC SYRUP_USDTshort	+0.0100%	4h	0.2308	−0.268%	$3.1M	$560K	100x
KuCoin SYRUPUSDTM	+0.0100%	4h	0.2316	+0.082%	$2.0M	$107K	25x	as long as short
Bitget SYRUPUSDT	+0.0100%	4h	0.2307	−0.311%	$679K	$431K	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	0.2308	−0.251%	—	$6.5M	—	as long as short
Variational Omni SYRUP	+0.0100%	4h	0.2310	−0.182%	$166K	$51K	—	as long as short
Reya SYRUPRUSDPERP	+0.0149%	1h	0.2308	−0.271%	—	—	5x	as long as short
GMX SYRUP/USD [ETH-USDC]	L +0.0330% / S −0.1447%	1h	0.2307	−0.300%	$3K	—	50x	as long as short
Hyperliquid SYRUPlong	+0.0616%	1h	0.2314	long leg	$5.9M	$1.5M	3x
Kraken Futures PF_SYRUPUSD	+0.1419%	1h	0.2309	−0.218%	$42K	$23K	10x	as long as short