Funding arb · Price arb /

SYRUP

all SYRUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0053%/8h= +5.8% APRnext payment +$0.07 per $10,000 · paid last 24h —

Price spread now: Reya against Lighter−0.241%7-day average — · you buy dearer than you sell

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

Long on Lighter 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 airdropLighter: Season 3 · Reya: Active · farm boardneeds both histories

Funding pays, the price is against you. Reya is 0.241% cheaper against Lighter than usual: you would sell low and buy high (spread −0.241% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$24 on $10k: about 15 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter SYRUP	0.2304	0.0096	pay 0.0012% / 1h	38m 21s	$209K	$217K	5x
Short	Reya SYRUPRUSDPERP	0.2299	0.0149	get 0.0019% / 1h	38m 21s	—	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Lighter. 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 LighterbpFee ReyabpOrdersPrice spread, now −0.241%Rate

Funding earned: $11.12
Price spread: −0.241% → 0.000%: −$24.09
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Reya: 3 bp × 2 orders: −$6
Net: −$18.97
Costs to cover: 0.060%
Break-even: 18.9 days

Slippage unknown: Lighter: live order book, 17 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 Lighter live order book, 17 min ago	17.09 bp	20.9 bp −$21	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
BloFin SYRUP-USDT	+0.0087%	4h	0.2301	−0.139%	$457K	$133K	50x	as long as short
Lighter SYRUPlong	+0.0096%	1h	0.2304	long leg	$209K	$217K	5x
Aster SYRUPUSDT	+0.0100%	4h	0.2300	−0.201%	$14K	$63K	10x	as long as short
Binance SYRUPUSDT	+0.0100%	4h	0.2298	−0.282%	$9.6M	$6.7M	25x	as long as short
Bybit SYRUPUSDT	+0.0100%	4h	0.2301	−0.139%	$2.3M	$2.0M	25x	as long as short
OKX SYRUP-USDT-SWAP	+0.0100%	4h	0.2298	−0.269%	$1.2M	$1.1M	20x	as long as short
Gate SYRUP_USDT	+0.0100%	8h	0.2300	−0.182%	$428K	$68K	25x	as long as short
MEXC SYRUP_USDT	+0.0100%	4h	0.2298	−0.269%	$3.0M	$579K	100x	as long as short
Bitget SYRUPUSDT	+0.0100%	4h	0.2300	−0.182%	$677K	$450K	20x	as long as short
BingX SYRUP-USDT	+0.0100%	4h	0.2300	−0.200%	—	$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	0.2304	−0.013%	$166K	$46K	—	as long as short
Reya SYRUPRUSDPERPshort	+0.0149%	1h	0.2299	−0.241%	—	—	5x
KuCoin SYRUPUSDTM	+0.0174%	4h	0.2308	+0.178%	$2.0M	$112K	25x	as long as short
GMX SYRUP/USD [ETH-USDC]	L +0.0330% / S −0.1447%	1h	0.2298	−0.249%	$3K	—	50x	as long as short
Hyperliquid SYRUP	+0.0463%	1h	0.2303	−0.052%	$5.8M	$1.6M	3x	as long as short
Kraken Futures PF_SYRUPUSD	+0.1569%	1h	0.2303	−0.049%	$41K	$23K	10x	as long as short