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: Lighter against MEXC+0.086%7-day average +0.125% · you sell dearer than you buy

Net, funding: paid 7d − costs−$61as in the Funding arb table

Net, price: spread back to 7d avg − costs−$73as in the Price arb table

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

Long on MEXC Short on Lighter

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)+0.179%+$18 · spread now +0.086%, 7d avg +0.125%

Together, before fees+0.264%+ Points / potential airdropLighter: Season 3 · farm board+$26 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: Lighter is 0.038% cheaper against MEXC than usual: you would sell low and buy high, −$4 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	MEXC SYRUP_USDT	0.2198	0.0100	pay 0.0050% / 4h	1h 06m	$2.9M	$439K	100x
Short	Lighter SYRUP	0.2200	0.0096	get 0.0012% / 1h	6m 46s	$200K	$221K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against MEXC. 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 MEXCbpFee LighterbpOrdersPrice spread, now +0.086%Rate

Funding earned: −$0.84
Price spread: +0.086% → +0.125%: −$3.84
Slippage, 4 orders: −$61.36
Fee MEXC: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$74.04
Costs to cover: 0.694%
Break-even: never at this rate

Slippage from MEXC: live order book, 5 min ago; Lighter: live order book, 18 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 MEXC live order book, 5 min ago	2.27 bp	10.4 bp −$10	61.7 bp −$617	292.0 bp −$29.2K	doesn't fit
Sell Lighter live order book, 18 min ago	16.32 bp	31.8 bp −$32	556.4 bp −$5,564	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
Kraken Futures PF_SYRUPUSD	−0.0002%	1h	0.2200	+0.081%	$40K	$23K	10x	as long as short
BloFin SYRUP-USDT	+0.0053%	4h	0.2194	−0.182%	$418K	$117K	50x	as long as short
Lighter SYRUPshort	+0.0096%	1h	0.2200	+0.086%	$200K	$221K	5x
Aster SYRUPUSDT	+0.0100%	4h	0.2196	−0.077%	$14K	$73K	10x	as long as short
Binance SYRUPUSDT	+0.0100%	4h	0.2198	−0.014%	$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	−0.227%	$1.0M	$1.1M	20x	as long as short
Gate SYRUP_USDT	+0.0100%	8h	0.2195	−0.132%	$403K	$64K	25x	as long as short
MEXC SYRUP_USDTlong	+0.0100%	4h	0.2198	long leg	$2.9M	$439K	100x
KuCoin SYRUPUSDTM	+0.0100%	4h	0.2204	+0.282%	$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	0.000%	$696K	$486K	20x	as long as short
BingX SYRUP-USDT	+0.0100%	4h	0.2199	+0.045%	—	$6.5M	—	as long as short
Variational Omni SYRUP	+0.0100%	4h	0.2197	−0.053%	$156K	$25K	—	as long as short
Reya SYRUPRUSDPERP	+0.0149%	1h	0.2195	−0.153%	—	—	5x	as long as short
GMX SYRUP/USD [ETH-USDC]	L +0.0313% / S −0.1301%	1h	0.2194	−0.167%	$2K	—	50x	as long as short
Hyperliquid SYRUP	+0.0360%	1h	0.2201	+0.150%	$5.4M	$1.9M	3x	as long as short