Funding arb · Price arb /

SYRUP

all SYRUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.060%

Price spread now: Lighter against KuCoin−0.131%7-day average −0.079% · you buy dearer than you sell

Net, funding: paid 7d − costs−$394as in the Funding arb table

Net, price: spread back to 7d avg − costs−$406as in the Price arb table

costs, in and out, $10k−$4014.008% of the position

Long on KuCoin Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.064%+$6 on $10k

Price spread, last 4 days (all we have)−0.087%−$9 · spread now −0.131%, 7d avg −0.079%

Together, before fees−0.023%+ Points / potential airdropLighter: Season 3 · farm board−$2 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.053% cheaper against KuCoin than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.079%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin SYRUPUSDTM	0.2209	0.0100	pay 0.0050% / 4h	3h 29m	$1.8M	$151K	25x
Short	Lighter SYRUP	0.2206	0.0096	get 0.0012% / 1h	29m 29s	$204K	$218K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against KuCoin. 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 KuCoinbpFee LighterbpOrdersPrice spread, now −0.131%Rate

Funding earned: −$0.84
Price spread: −0.131% → −0.079%: −$5.26
Slippage, 4 orders: −$388.8
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$406.9
Costs to cover: 4.008%
Break-even: never at this rate

Slippage from KuCoin: live order book, 2 min ago; Lighter: live order book, 6 min ago.

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 KuCoin live order book, 2 min ago	28.53 bp	142.5 bp −$143	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 6 min ago	8.82 bp	32.8 bp −$33	594.4 bp −$5,944	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
Kraken Futures PF_SYRUPUSD	−0.0049%	1h	0.2208	−0.039%	$40K	$22K	10x	as long as short
BloFin SYRUP-USDT	+0.0064%	4h	0.2202	−0.308%	$425K	$128K	50x	as long as short
Lighter SYRUPshort	+0.0096%	1h	0.2206	−0.131%	$204K	$218K	5x
Aster SYRUPUSDT	+0.0100%	4h	0.2203	−0.259%	$14K	$69K	10x	as long as short
Binance SYRUPUSDT	+0.0100%	4h	0.2202	−0.295%	$9.0M	$7.4M	25x	as long as short
Bybit SYRUPUSDT	+0.0100%	4h	0.2203	−0.263%	$2.1M	$2.1M	25x	as long as short
OKX SYRUP-USDT-SWAP	+0.0100%	4h	0.2204	−0.222%	$1.0M	$1.1M	20x	as long as short
Gate SYRUP_USDT	+0.0100%	8h	0.2203	−0.254%	$406K	$65K	25x	as long as short
MEXC SYRUP_USDT	+0.0100%	4h	0.2202	−0.312%	$2.8M	$421K	100x	as long as short
KuCoin SYRUPUSDTMlong	+0.0100%	4h	0.2209	long leg	$1.8M	$151K	25x

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SYRUPUSDT	+0.0100%	4h	0.2205	−0.177%	$695K	$500K	20x	as long as short
BingX SYRUP-USDT	+0.0100%	4h	0.2201	−0.358%	—	$6.6M	—	as long as short
Variational Omni SYRUP	+0.0100%	4h	0.2203	−0.280%	$157K	$26K	—	as long as short
Reya SYRUPRUSDPERP	+0.0149%	1h	0.2203	−0.262%	—	—	5x	as long as short
Hyperliquid SYRUP	+0.0295%	1h	0.2208	−0.045%	$5.4M	$1.9M	3x	as long as short
GMX SYRUP/USD [ETH-USDC]	L +0.0328% / S −0.1447%	1h	0.2205	−0.179%	$3K	—	50x	as long as short