Funding arb · Price arb /

SYRUP

all SYRUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.060%

Price spread now: Lighter against Variational Omni−0.048%7-day average +0.010% · you buy dearer than you sell

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

Long on Variational Omni Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.074%+$7 on $10k

Price spread, last 4 days (all we have)+0.027%+$3 · spread now −0.048%, 7d avg +0.010%

Together, before fees+0.100%+ Points / potential airdropVariational Omni: Active · Lighter: Season 3 · farm board+$10 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 0.058% cheaper against Variational Omni than usual: you would sell low and buy high, −$6 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	Variational Omni SYRUP	0.2206	0.0100	pay 0.0050% / 4h	3h 31m	$157K	$26K	—
Short	Lighter SYRUP	0.2205	0.0096	get 0.0012% / 1h	31m 24s	$204K	$218K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Variational Omni. 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 Variational OmnibpFee LighterbpOrdersPrice spread, now −0.048%Rate

Funding earned: −$0.84
Price spread: −0.048% → +0.010%: −$5.83
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Lighter: 0 bp × 2 orders: $0
Net: −$6.67
Costs to cover: 0.000%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 23 min ago; Lighter: live order book, 4 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 Variational Omni RFQ quote, 23 min ago	6.79 bp	doesn't fit	174.2 bp −$1,742	doesn't fit	doesn't fit
Sell Lighter live order book, 4 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	−0.0049%	1h	0.2206	+0.013%	$40K	$22K	10x	as long as short
Lighter SYRUPshort	+0.0096%	1h	0.2205	−0.048%	$204K	$218K	5x
Aster SYRUPUSDT	+0.0100%	4h	0.2204	−0.096%	$14K	$69K	10x	as long as short
Binance SYRUPUSDT	+0.0100%	4h	0.2202	−0.183%	$9.0M	$7.4M	25x	as long as short
Bybit SYRUPUSDT	+0.0100%	4h	0.2203	−0.125%	$2.1M	$2.1M	25x	as long as short
OKX SYRUP-USDT-SWAP	+0.0100%	4h	0.2201	−0.225%	$1.0M	$1.1M	20x	as long as short
Gate SYRUP_USDT	+0.0100%	8h	0.2204	−0.080%	$406K	$65K	25x	as long as short
MEXC SYRUP_USDT	+0.0100%	4h	0.2203	−0.134%	$2.8M	$421K	100x	as long as short
KuCoin SYRUPUSDTM	+0.0100%	4h	0.2204	−0.107%	$1.8M	$151K	25x	as long as short
Bitget SYRUPUSDT	+0.0100%	4h	0.2205	−0.044%	$695K	$502K	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	0.2202	−0.202%	—	$6.5M	—	as long as short
Variational Omni SYRUPlong	+0.0100%	4h	0.2206	long leg	$157K	$26K	—
BloFin SYRUP-USDT	+0.0117%	4h	0.2205	−0.066%	$425K	$128K	50x	as long as short
Reya SYRUPRUSDPERP	+0.0149%	1h	0.2202	−0.180%	—	—	5x	as long as short
Hyperliquid SYRUP	+0.0296%	1h	0.2207	+0.047%	$5.4M	$1.9M	3x	as long as short
GMX SYRUP/USD [ETH-USDC]	L +0.0328% / S −0.1447%	1h	0.2203	−0.126%	$3K	—	50x	as long as short