Funding arb · Price arb /

SYRUP

all SYRUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0122%/8h= +13.4% APRpaid last 24h −0.401%

Price spread now: BloFin against Kraken Futures−0.085%57s7-day average — · you buy dearer than you sell

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

Long on Kraken Futures Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. BloFin is 0.085% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.085% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$9 on $10k: about 2.3 days of funding at the current rate (+$4 a day). The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_SYRUPUSD	0.2197	−0.0002	get 0.0000% / 1h	31m 43s	$39K	$22K	10x
Short	BloFin SYRUP-USDT	0.2195	0.0121	get 0.0060% / 4h	1h 31m	$418K	$117K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Kraken Futures. 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 Kraken FuturesbpFee BloFinbpOrdersPrice spread, now −0.085%Rate

Funding earned: $25.71
Price spread: −0.085% → 0.000%: −$8.51
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$4.81
Costs to cover: 0.220%
Break-even: 8.3 days

Slippage unknown: Kraken Futures: no order-book sample; BloFin: live order book, 54 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 Kraken Futures no order-book sample	—	—	—	—	—
Sell BloFin live order book, 54 min ago	0.23 bp	31.8 bp −$32	doesn't fit	doesn't fit	doesn't fit

Kraken Futures: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Kraken Futures PF_SYRUPUSDlong	−0.0002%	1h	0.2197	long leg	$39K	$22K	10x
Lighter SYRUP	+0.0096%	1h	0.2200	+0.156%	$200K	$218K	5x	as long as short
Aster SYRUPUSDT	+0.0100%	4h	0.2198	+0.070%	$14K	$69K	10x	as long as short
Binance SYRUPUSDT	+0.0100%	4h	0.2197	+0.006%	$8.9M	$7.5M	25x	as long as short
Bybit SYRUPUSDT	+0.0100%	4h	0.2197	+0.024%	$2.2M	$2.5M	25x	as long as short
OKX SYRUP-USDT-SWAP	+0.0100%	4h	0.2195	−0.081%	$1.0M	$1.1M	20x	as long as short
Gate SYRUP_USDT	+0.0100%	8h	0.2198	+0.047%	$405K	$64K	25x	as long as short
MEXC SYRUP_USDT	+0.0100%	4h	0.2196	−0.035%	$2.9M	$437K	100x	as long as short
KuCoin SYRUPUSDTM	+0.0100%	4h	0.2200	+0.152%	$1.9M	$158K	25x	as long as short
Bitget SYRUPUSDT	+0.0100%	4h	0.2198	+0.056%	$691K	$488K	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	0.2197	+0.010%	—	$6.5M	—	as long as short
Variational Omni SYRUP	+0.0100%	4h	0.2198	+0.038%	$157K	$27K	—	as long as short
BloFin SYRUP-USDTshort	+0.0121%	4h	0.2195	−0.085%	$418K	$117K	50x
Reya SYRUPRUSDPERP	+0.0149%	1h	0.2196	−0.039%	—	—	5x	as long as short
GMX SYRUP/USD [ETH-USDC]	L +0.0314% / S −0.1301%	1h	0.2196	−0.015%	$2K	—	50x	as long as short
Hyperliquid SYRUP	+0.0483%	1h	0.2202	+0.224%	$5.4M	$1.9M	3x	as long as short