Funding arb · Price arb /

SYRUP

all SYRUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0049%/8h= +5.4% APRpaid last 24h —

Price spread now: Reya against Variational Omni+0.035%7-day average — · you sell dearer than you buy

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

Long on Variational Omni Short on Reya

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 airdropVariational Omni: Active · Reya: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Reya is 0.035% dearer against Variational Omni than usual: you sell high and buy low: +$4 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	Variational Omni SYRUP	0.2297	0.0100	pay 0.0050% / 4h	3h 14m	$166K	$46K	—
Short	Reya SYRUPRUSDPERP	0.2298	0.0149	get 0.0019% / 1h	14m 07s	—	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Variational Omni. 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 Variational OmnibpFee ReyabpOrdersPrice spread, now +0.035%Rate

Funding earned: $10.28
Price spread: +0.035% → 0.000%: $3.51
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Reya: 3 bp × 2 orders: −$6
Net: $7.78
Costs to cover: 0.060%
Break-even: 1.7 days

Slippage unknown: Variational Omni: RFQ quote, 60 min ago; Reya: no order-book sample. 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, 60 min ago	8.70 bp	doesn't fit	182.8 bp −$1,828	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

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
BloFin SYRUP-USDT	+0.0061%	4h	0.2297	−0.006%	$456K	$131K	50x	as long as short
Lighter SYRUP	+0.0096%	1h	0.2302	+0.216%	$209K	$217K	5x	as long as short
Aster SYRUPUSDT	+0.0100%	4h	0.2299	+0.077%	$14K	$63K	10x	as long as short
Binance SYRUPUSDT	+0.0100%	4h	0.2299	+0.086%	$9.6M	$6.7M	25x	as long as short
Bybit SYRUPUSDT	+0.0100%	4h	0.2300	+0.155%	$2.3M	$1.9M	25x	as long as short
OKX SYRUP-USDT-SWAP	+0.0100%	4h	0.2299	+0.094%	$1.2M	$1.1M	20x	as long as short
Gate SYRUP_USDT	+0.0100%	8h	0.2298	+0.046%	$427K	$68K	25x	as long as short
MEXC SYRUP_USDT	+0.0100%	4h	0.2298	+0.050%	$3.0M	$580K	100x	as long as short
Bitget SYRUPUSDT	+0.0100%	4h	0.2298	+0.050%	$669K	$440K	20x	as long as short
BingX SYRUP-USDT	+0.0100%	4h	0.2298	+0.055%	—	$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 SYRUPlong	+0.0100%	4h	0.2297	long leg	$166K	$46K	—
KuCoin SYRUPUSDTM	+0.0146%	4h	0.2305	+0.364%	$2.0M	$112K	25x	as long as short
Reya SYRUPRUSDPERPshort	+0.0149%	1h	0.2298	+0.035%	—	—	5x
GMX SYRUP/USD [ETH-USDC]	L +0.0330% / S −0.1447%	1h	0.2297	+0.025%	$3K	—	50x	as long as short
Hyperliquid SYRUP	+0.0788%	1h	0.2305	+0.351%	$5.9M	$1.6M	3x	as long as short
Kraken Futures PF_SYRUPUSD	+0.1571%	1h	0.2301	+0.189%	$41K	$23K	10x	as long as short