Funding arb · Price arb /

SYRUP

all SYRUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.064%

Price spread now: BingX against Lighter−0.172%7-day average −0.093% · you buy dearer than you sell

Net, funding: paid 7d − costs−$104as in the Funding arb table

Net, price: spread back to 7d avg − costs−$105as in the Price arb table

costs, in and out, $10k−$970.973% of the position

Long on Lighter Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.069%−$7 on $10k

Price spread, last 4 days (all we have)+0.065%+$6 · spread now −0.172%, 7d avg −0.093%

Together, before fees−0.004%+ Points / potential airdropLighter: Season 3 · farm board$0 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: BingX is 0.078% cheaper against Lighter than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of −0.093%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter SYRUP	0.2213	0.0096	pay 0.0012% / 1h	0m 34s	$204K	$219K	5x
Short	BingX SYRUP-USDT	0.2210	0.0100	get 0.0050% / 4h	0m 34s	—	$6.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Lighter. 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 LighterbpFee BingXbpOrdersPrice spread, now −0.172%Rate

Funding earned: $0.84
Price spread: −0.172% → −0.093%: −$7.82
Slippage, 4 orders: −$87.32
Fee Lighter: 0 bp × 2 orders: $0
Fee BingX: 5 bp × 2 orders: −$10
Net: −$104.31
Costs to cover: 0.973%
Break-even: 876.2 days

Slippage from Lighter: live order book, 39 min ago; BingX: live order book, 1 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 Lighter live order book, 39 min ago	13.28 bp	15.8 bp −$16	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 1 min ago	4.98 bp	31.5 bp −$32	86.0 bp −$860	620.4 bp −$62.0K	1176.2 bp −$588.1K

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	−0.0805%	1h	0.2210	−0.129%	$40K	$22K	10x	as long as short
BloFin SYRUP-USDT	+0.0067%	4h	0.2207	−0.298%	$317K	$128K	50x	as long as short
Lighter SYRUPlong	+0.0096%	1h	0.2213	long leg	$204K	$219K	5x
Aster SYRUPUSDT	+0.0100%	4h	0.2211	−0.103%	$14K	$69K	10x	as long as short
Binance SYRUPUSDT	+0.0100%	4h	0.2210	−0.145%	$9.0M	$7.3M	25x	as long as short
Bybit SYRUPUSDT	+0.0100%	4h	0.2213	−0.005%	$2.1M	$2.1M	25x	as long as short
OKX SYRUP-USDT-SWAP	+0.0100%	4h	0.2209	−0.194%	$1.1M	$1.1M	20x	as long as short
Gate SYRUP_USDT	+0.0100%	8h	0.2212	−0.063%	$408K	$70K	25x	as long as short
MEXC SYRUP_USDT	+0.0100%	4h	0.2211	−0.104%	$2.8M	$426K	100x	as long as short
KuCoin SYRUPUSDTM	+0.0100%	4h	0.2215	+0.077%	$1.9M	$151K	25x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SYRUPUSDT	+0.0100%	4h	0.2211	−0.104%	$697K	$508K	20x	as long as short
BingX SYRUP-USDTshort	+0.0100%	4h	0.2210	−0.172%	—	$6.5M	—
Variational Omni SYRUP	+0.0100%	4h	0.2212	−0.074%	$158K	$27K	—	as long as short
Reya SYRUPRUSDPERP	+0.0149%	1h	0.2211	−0.120%	—	—	5x	as long as short
Hyperliquid SYRUP	+0.0186%	1h	0.2215	+0.072%	$5.5M	$1.9M	3x	as long as short
GMX SYRUP/USD [ETH-USDC]	L +0.0328% / S −0.1447%	1h	0.2211	−0.114%	$3K	—	50x	as long as short