Funding arb · Price arb /

SYRUP

all SYRUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0049%/8h= +5.4% APRpaid last 24h —

Price spread now: Reya against KuCoin−0.463%7-day average — · you buy dearer than you sell

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

Long on KuCoin 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

Funding pays, the price is against you. Reya is 0.463% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.463% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$46 on $10k: about 32 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin SYRUPUSDTM	0.2317	0.0100	pay 0.0050% / 4h	3h 53m	$2.0M	$110K	25x
Short	Reya SYRUPRUSDPERP	0.2306	0.0149	get 0.0019% / 1h	53m 59s	—	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against KuCoin. 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 KuCoinbpFee ReyabpOrdersPrice spread, now −0.463%Rate

Funding earned: $10.28
Price spread: −0.463% → 0.000%: −$46.33
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Reya: 3 bp × 2 orders: −$6
Net: −$54.06
Costs to cover: 0.180%
Break-even: 43.8 days

Slippage unknown: KuCoin: live order book, 2 min ago; 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 KuCoin live order book, 2 min ago	7.11 bp	93.7 bp −$94	doesn't fit	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

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 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
Lighter SYRUP	+0.0096%	1h	0.2311	−0.276%	$210K	$217K	5x	as long as short
Aster SYRUPUSDT	+0.0100%	4h	0.2304	−0.548%	$14K	$63K	10x	as long as short
Binance SYRUPUSDT	+0.0100%	4h	0.2306	−0.485%	$9.6M	$6.8M	25x	as long as short
Bybit SYRUPUSDT	+0.0100%	4h	0.2307	−0.423%	$2.3M	$2.0M	25x	as long as short
OKX SYRUP-USDT-SWAP	+0.0100%	4h	0.2306	−0.470%	$1.2M	$1.1M	20x	as long as short
Gate SYRUP_USDT	+0.0100%	8h	0.2307	−0.427%	$429K	$68K	25x	as long as short
MEXC SYRUP_USDT	+0.0100%	4h	0.2305	−0.514%	$3.0M	$578K	100x	as long as short
KuCoin SYRUPUSDTMlong	+0.0100%	4h	0.2317	long leg	$2.0M	$110K	25x
Bitget SYRUPUSDT	+0.0100%	4h	0.2305	−0.514%	$679K	$454K	20x	as long as short
BingX SYRUP-USDT	+0.0100%	4h	0.2307	−0.427%	—	$6.5M	—	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni SYRUP	+0.0100%	4h	0.2312	−0.208%	$166K	$46K	—	as long as short
BloFin SYRUP-USDT	+0.0119%	4h	0.2309	−0.324%	$457K	$135K	50x	as long as short
Reya SYRUPRUSDPERPshort	+0.0149%	1h	0.2306	−0.463%	—	—	5x
GMX SYRUP/USD [ETH-USDC]	L +0.0331% / S −0.1447%	1h	0.2306	−0.488%	$3K	—	50x	as long as short
Hyperliquid SYRUP	+0.0335%	1h	0.2310	−0.294%	$5.9M	$1.6M	3x	as long as short
Kraken Futures PF_SYRUPUSD	+0.1565%	1h	0.2310	−0.296%	$42K	$23K	10x	as long as short