Funding arb · Price arb /

SYRUP

all SYRUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−1.3841%/8h= −1515.6% APRnext payment −$17.30 per $10,000 · paid last 24h —

Price spread now: Reya against Kraken Futures+0.128%7-day average — · you sell dearer than you buy

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

Long on Kraken Futures Short on Reya

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

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

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

The price spread pays, funding is against you. Reya is 0.128% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.128% now, against zero (this spread has no 7-day history yet)): +$13 on $10k if it goes back. Holding the pair costs −$415 a day in funding at the current rate, which eats that in about under an hour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_SYRUPUSD	0.2176	1.3990	pay 0.1749% / 1h	28m 13s	$42K	$19K	10x
Short	Reya SYRUPRUSDPERP	0.2179	0.0149	get 0.0019% / 1h	28m 13s	—	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Kraken Futures. 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 Kraken FuturesbpFee ReyabpOrdersPrice spread, now +0.128%Rate

Funding earned: −$2,906.62
Price spread: +0.128% → 0.000%: $12.76
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Reya: 3 bp × 2 orders: −$6
Net: −$2,909.86
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Kraken Futures: no order-book sample; Reya: no order-book sample. 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 Reya no order-book sample	—	—	—	—	—

Kraken Futures and Reya: 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 exchanges

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	+0.0067%	4h	0.2180	+0.202%	$413K	$152K	50x	as long as short
Lighter SYRUP	+0.0096%	1h	0.2182	+0.298%	$199K	$186K	5x	as long as short
Aster SYRUPUSDT	+0.0100%	4h	0.2178	+0.117%	$16K	$75K	10x	as long as short
Binance SYRUPUSDT	+0.0100%	4h	0.2179	+0.141%	$8.8M	$6.6M	25x	as long as short
Bybit SYRUPUSDT	+0.0100%	4h	0.2181	+0.215%	$2.1M	$2.3M	25x	as long as short
OKX SYRUP-USDT-SWAP	+0.0100%	4h	0.2178	+0.096%	$1.0M	$958K	20x	as long as short
Gate SYRUP_USDT	+0.0100%	8h	0.2178	+0.096%	$400K	$54K	25x	as long as short
MEXC SYRUP_USDT	+0.0100%	4h	0.2180	+0.188%	$3.0M	$402K	100x	as long as short
KuCoin SYRUPUSDTM	+0.0100%	4h	0.2186	+0.450%	$1.8M	$123K	25x	as long as short
Bitget SYRUPUSDT	+0.0100%	4h	0.2181	+0.234%	$683K	$461K	20x	as long as short

Show all 16 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX SYRUP-USDT	+0.0100%	4h	0.2180	+0.165%	—	$6.5M	—	as long as short
Variational Omni SYRUP	+0.0100%	4h	0.2183	+0.318%	$156K	$18K	—	as long as short
Reya SYRUPRUSDPERPshort	+0.0149%	1h	0.2179	+0.128%	—	—	5x
Hyperliquid SYRUP	+0.0173%	1h	0.2182	+0.294%	$5.5M	$1.7M	3x	as long as short
GMX SYRUP/USD [ETH-USDC]	L +0.0340% / S −0.1589%	1h	0.2182	+0.296%	$3K	—	50x	as long as short
Kraken Futures PF_SYRUPUSDlong	+1.3990%	1h	0.2176	long leg	$42K	$19K	10x