Funding arb · Price arb /

SYRUP

all SYRUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.066%

Price spread now: Variational Omni against Lighter+0.017%7-day average −0.010% · you sell dearer than you buy

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

Long on Lighter Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.075%−$8 on $10k

Price spread, last 3 days (all we have)+0.020%+$2 · spread now +0.017%, 7d avg −0.010%

Together, before fees−0.055%+ Points / potential airdropLighter: Season 3 · Variational Omni: Active · farm board−$5 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: Variational Omni is 0.027% dearer against Lighter than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.010%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter SYRUP	0.2310	0.0096	pay 0.0012% / 1h	52m 40s	$209K	$225K	5x
Short	Variational Omni SYRUP	0.2310	0.0100	get 0.0050% / 4h	1h 52m	$166K	$51K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.017%Rate

Funding earned: $0.84
Price spread: +0.017% → −0.010%: $2.71
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $3.55
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Lighter: live order book, 21 min ago; Variational Omni: RFQ quote, 31 min ago. 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, 21 min ago	15.18 bp	15.6 bp −$16	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 31 min ago	6.41 bp	doesn't fit	211.7 bp −$2,117	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
BloFin SYRUP-USDT	+0.0092%	4h	0.2307	−0.113%	$467K	$133K	50x	as long as short
Lighter SYRUPlong	+0.0096%	1h	0.2310	long leg	$209K	$225K	5x
Aster SYRUPUSDT	+0.0100%	4h	0.2307	−0.122%	$12K	$61K	10x	as long as short
Binance SYRUPUSDT	+0.0100%	4h	0.2306	−0.177%	$9.7M	$6.4M	25x	as long as short
Bybit SYRUPUSDT	+0.0100%	4h	0.2308	−0.082%	$2.3M	$1.9M	25x	as long as short
OKX SYRUP-USDT-SWAP	+0.0100%	4h	0.2307	−0.130%	$1.2M	$991K	20x	as long as short
Gate SYRUP_USDT	+0.0100%	8h	0.2309	−0.043%	$431K	$66K	25x	as long as short
MEXC SYRUP_USDT	+0.0100%	4h	0.2305	−0.216%	$3.1M	$560K	100x	as long as short
KuCoin SYRUPUSDTM	+0.0100%	4h	0.2310	−0.004%	$2.0M	$107K	25x	as long as short
Bitget SYRUPUSDT	+0.0100%	4h	0.2306	−0.173%	$681K	$430K	20x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX SYRUP-USDT	+0.0100%	4h	0.2308	−0.095%	—	$6.5M	—	as long as short
Variational Omni SYRUPshort	+0.0100%	4h	0.2310	+0.017%	$166K	$51K	—
Reya SYRUPRUSDPERP	+0.0149%	1h	0.2308	−0.083%	—	—	5x	as long as short
GMX SYRUP/USD [ETH-USDC]	L +0.0331% / S −0.1447%	1h	0.2306	−0.162%	$3K	—	50x	as long as short
Hyperliquid SYRUP	+0.0381%	1h	0.2311	+0.026%	$5.9M	$1.5M	3x	as long as short
Kraken Futures PF_SYRUPUSD	+0.1420%	1h	0.2309	−0.041%	$42K	$24K	10x	as long as short