Funding arb · Price arb /

SYRUP

all SYRUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.058%

Price spread now: Lighter against OKX−0.027%7-day average +0.071% · 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−$121as in the Price arb table

costs, in and out, $10k−$1111.111% of the position

Long on OKX Short on Lighter

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)+0.323%+$32 · spread now −0.027%, 7d avg +0.071%

Together, before fees+0.392%+ Points / potential airdropLighter: Season 3 · farm board+$39 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 0.098% cheaper against OKX than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of +0.071%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX SYRUP-USDT-SWAP	0.2194	0.0100	pay 0.0050% / 4h	2h 36m	$1.0M	$1.1M	20x
Short	Lighter SYRUP	0.2193	0.0096	get 0.0012% / 1h	36m 57s	$204K	$220K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against OKX. 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 OKXbpFee LighterbpOrdersPrice spread, now −0.027%Rate

Funding earned: −$0.84
Price spread: −0.027% → +0.071%: −$9.81
Slippage, 4 orders: −$101.11
Fee OKX: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$121.75
Costs to cover: 1.111%
Break-even: never at this rate

Slippage from OKX: live order book, 4 min ago; Lighter: live order book, 58 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 OKX live order book, 4 min ago	6.84 bp	35.9 bp −$36	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 58 min ago	8.82 bp	32.8 bp −$33	594.4 bp −$5,944	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	−0.0418%	1h	0.2191	−0.121%	$39K	$24K	10x	as long as short
Lighter SYRUPshort	+0.0096%	1h	0.2193	−0.027%	$204K	$220K	5x
Aster SYRUPUSDT	+0.0100%	4h	0.2191	−0.158%	$14K	$68K	10x	as long as short
Binance SYRUPUSDT	+0.0100%	4h	0.2191	−0.158%	$8.9M	$7.6M	25x	as long as short
Bybit SYRUPUSDT	+0.0100%	4h	0.2193	−0.068%	$2.2M	$2.5M	25x	as long as short
OKX SYRUP-USDT-SWAPlong	+0.0100%	4h	0.2194	long leg	$1.0M	$1.1M	20x
Gate SYRUP_USDT	+0.0100%	8h	0.2190	−0.205%	$403K	$65K	25x	as long as short
MEXC SYRUP_USDT	+0.0100%	4h	0.2191	−0.137%	$2.8M	$424K	100x	as long as short
KuCoin SYRUPUSDTM	+0.0100%	4h	0.2198	+0.178%	$1.8M	$151K	25x	as long as short
Bitget SYRUPUSDT	+0.0100%	4h	0.2195	+0.046%	$691K	$513K	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	0.2191	−0.150%	—	$6.5M	—	as long as short
Variational Omni SYRUP	+0.0100%	4h	0.2197	+0.145%	$157K	$27K	—	as long as short
BloFin SYRUP-USDT	+0.0102%	4h	0.2193	−0.050%	$423K	$124K	50x	as long as short
Reya SYRUPRUSDPERP	+0.0149%	1h	0.2192	−0.072%	—	—	5x	as long as short
Hyperliquid SYRUP	+0.0240%	1h	0.2194	−0.014%	$5.4M	$1.9M	3x	as long as short
GMX SYRUP/USD [ETH-USDC]	L +0.0314% / S −0.1301%	1h	0.2193	−0.067%	$2K	—	50x	as long as short