Funding arb · Price arb /

SYRUP

all SYRUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.1190%/8h= +130.4% APRnext payment +$1.49 per $10,000 · paid last 24h —

Price spread now: Hyperliquid against Reya+0.203%7-day average — · you sell dearer than you buy

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

Long on Reya Short on Hyperliquid

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 airdropReya: Active · Hyperliquid: Season 2 · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$36 a day on $10k at the current rate, and Hyperliquid is 0.203% dearer against Reya than usual: you sell high and buy low: +$20 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya SYRUPRUSDPERP	0.2298	0.0149	pay 0.0019% / 1h	38m 29s	—	—	5x
Short	Hyperliquid SYRUP	0.2302	0.1339	get 0.0167% / 1h	38m 29s	$5.7M	$1.3M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Reya. 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 ReyabpFee HyperliquidbpOrdersPrice spread, now +0.203%Rate

Funding earned: $249.99
Price spread: +0.203% → 0.000%: $20.28
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $255.27
Costs to cover: 0.150%
Break-even: from the start

Slippage unknown: Reya: no order-book sample; Hyperliquid: live order book, 3 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 Reya no order-book sample	—	—	—	—	—
Sell Hyperliquid live order book, 3 min ago	1.52 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit

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
Lighter SYRUP	+0.0096%	1h	0.2302	+0.177%	$209K	$225K	5x	as long as short
Aster SYRUPUSDT	+0.0100%	4h	0.2297	−0.015%	$11K	$59K	10x	as long as short
Binance SYRUPUSDT	+0.0100%	4h	0.2297	−0.051%	$9.6M	$6.2M	25x	as long as short
Bybit SYRUPUSDT	+0.0100%	4h	0.2298	+0.003%	$2.3M	$1.8M	25x	as long as short
OKX SYRUP-USDT-SWAP	+0.0100%	4h	0.2298	+0.011%	$1.2M	$962K	20x	as long as short
Gate SYRUP_USDT	+0.0100%	8h	0.2297	−0.032%	$430K	$65K	25x	as long as short
MEXC SYRUP_USDT	+0.0100%	4h	0.2296	−0.076%	$3.1M	$566K	100x	as long as short
KuCoin SYRUPUSDTM	+0.0100%	4h	0.2306	+0.342%	$2.0M	$106K	25x	as long as short
Bitget SYRUPUSDT	+0.0100%	4h	0.2299	+0.055%	$670K	$409K	20x	as long as short
BingX SYRUP-USDT	+0.0100%	4h	0.2298	−0.002%	—	$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	0.2303	+0.232%	$165K	$48K	—	as long as short
Reya SYRUPRUSDPERPlong	+0.0149%	1h	0.2298	long leg	—	—	5x
BloFin SYRUP-USDT	+0.0157%	4h	0.2297	−0.041%	$470K	$130K	50x	as long as short
GMX SYRUP/USD [ETH-USDC]	L +0.0331% / S −0.1447%	1h	0.2297	−0.027%	$3K	—	50x	as long as short
Kraken Futures PF_SYRUPUSD	+0.0981%	1h	0.2303	+0.208%	$41K	$24K	10x	as long as short
Hyperliquid SYRUPshort	+0.1339%	1h	0.2302	+0.203%	$5.7M	$1.3M	3x