Funding arb · Price arb /

SYRUP

all SYRUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.056%

Price spread now: MEXC against Lighter+0.009%7-day average −0.125% · you sell dearer than you buy

Net, funding: paid 7d − costs−$78as in the Funding arb table

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

costs, in and out, $10k−$690.694% of the position

Long on Lighter Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.085%−$8 on $10k

Price spread, last 4 days (all we have)−0.275%−$27 · spread now +0.009%, 7d avg −0.125%

Together, before fees−0.360%+ Points / potential airdropLighter: Season 3 · farm board−$36 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: MEXC is 0.134% dearer against Lighter than usual: you sell high and buy low, +$13 on $10k if it goes back to its 7-day average of −0.125%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter SYRUP	0.2198	0.0096	pay 0.0012% / 1h	6m 55s	$200K	$221K	5x
Short	MEXC SYRUP_USDT	0.2198	0.0100	get 0.0050% / 4h	1h 06m	$2.9M	$439K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.009%Rate

Funding earned: $0.84
Price spread: +0.009% → −0.125%: $13.39
Slippage, 4 orders: −$61.36
Fee Lighter: 0 bp × 2 orders: $0
Fee MEXC: 4 bp × 2 orders: −$8
Net: −$55.13
Costs to cover: 0.694%
Break-even: 466.4 days

Slippage from Lighter: live order book, 18 min ago; MEXC: live order book, 5 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, 18 min ago	16.32 bp	16.8 bp −$17	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 5 min ago	2.27 bp	10.4 bp −$10	62.4 bp −$624	285.2 bp −$28.5K	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	−0.0002%	1h	0.2200	+0.090%	$40K	$23K	10x	as long as short
BloFin SYRUP-USDT	+0.0053%	4h	0.2194	−0.173%	$418K	$117K	50x	as long as short
Lighter SYRUPlong	+0.0096%	1h	0.2198	long leg	$200K	$221K	5x
Aster SYRUPUSDT	+0.0100%	4h	0.2196	−0.068%	$14K	$73K	10x	as long as short
Binance SYRUPUSDT	+0.0100%	4h	0.2197	−0.023%	$8.9M	$7.5M	25x	as long as short
Bybit SYRUPUSDT	+0.0100%	4h	0.2197	−0.059%	$2.1M	$2.5M	25x	as long as short
OKX SYRUP-USDT-SWAP	+0.0100%	4h	0.2193	−0.218%	$1.0M	$1.1M	20x	as long as short
Gate SYRUP_USDT	+0.0100%	8h	0.2195	−0.123%	$403K	$64K	25x	as long as short
MEXC SYRUP_USDTshort	+0.0100%	4h	0.2198	+0.009%	$2.9M	$439K	100x
KuCoin SYRUPUSDTM	+0.0100%	4h	0.2203	+0.237%	$1.9M	$156K	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	0.2198	+0.009%	$696K	$486K	20x	as long as short
BingX SYRUP-USDT	+0.0100%	4h	0.2198	+0.023%	—	$6.5M	—	as long as short
Variational Omni SYRUP	+0.0100%	4h	0.2197	−0.044%	$156K	$25K	—	as long as short
Reya SYRUPRUSDPERP	+0.0149%	1h	0.2195	−0.144%	—	—	5x	as long as short
GMX SYRUP/USD [ETH-USDC]	L +0.0313% / S −0.1301%	1h	0.2194	−0.158%	$2K	—	50x	as long as short
Hyperliquid SYRUP	+0.0364%	1h	0.2200	+0.086%	$5.4M	$1.9M	3x	as long as short