Funding arb · Price arb /

SYRUP

all SYRUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0049%/8h= −5.3% APRpaid last 24h −0.056%

Price spread now: BloFin against Lighter−0.246%60s7-day average −0.127% · you buy dearer than you sell

Net, funding: paid 7d − costs−$108as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1000.995% of the position

Long on Lighter Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.088%−$9 on $10k

Price spread, last 4 days (all we have)+0.118%+$12 · spread now −0.246%, 7d avg −0.127%

Together, before fees+0.030%+ Points / potential airdropLighter: Season 3 · farm board+$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and BloFin is 0.118% cheaper against Lighter than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of −0.127%). Swap the legs. The two prices were read 60 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter SYRUP	0.2199	0.0096	pay 0.0012% / 1h	11m 57s	$200K	$220K	5x
Short	BloFin SYRUP-USDT	0.2194	0.0047	get 0.0024% / 4h	11m 57s	$417K	$135K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Lighter. 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 LighterbpFee BloFinbpOrdersPrice spread, now −0.246%Rate

Funding earned: −$10.25
Price spread: −0.246% → −0.127%: −$11.81
Slippage, 4 orders: −$87.51
Fee Lighter: 0 bp × 2 orders: $0
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$121.58
Costs to cover: 0.995%
Break-even: never at this rate

Slippage from Lighter: live order book, 8 min ago; BloFin: live order book, 4 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 Lighter live order book, 8 min ago	18.69 bp	19.1 bp −$19	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 4 min ago	1.14 bp	26.6 bp −$27	doesn't fit	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
BloFin SYRUP-USDTshort	+0.0047%	4h	0.2194	−0.246%	$417K	$135K	50x
Lighter SYRUPlong	+0.0096%	1h	0.2199	long leg	$200K	$220K	5x
Aster SYRUPUSDT	+0.0100%	4h	0.2188	−0.493%	$14K	$73K	10x	as long as short
Binance SYRUPUSDT	+0.0100%	4h	0.2195	−0.164%	$8.9M	$7.2M	25x	as long as short
Bybit SYRUPUSDT	+0.0100%	4h	0.2197	−0.114%	$2.1M	$2.4M	25x	as long as short
OKX SYRUP-USDT-SWAP	+0.0100%	4h	0.2195	−0.182%	$1.0M	$1.1M	20x	as long as short
Gate SYRUP_USDT	+0.0100%	8h	0.2191	−0.359%	$403K	$62K	25x	as long as short
MEXC SYRUP_USDT	+0.0100%	4h	0.2195	−0.182%	$2.9M	$413K	100x	as long as short
KuCoin SYRUPUSDTM	+0.0100%	4h	0.2192	−0.337%	$1.8M	$152K	25x	as long as short
Bitget SYRUPUSDT	+0.0100%	4h	0.2196	−0.136%	$702K	$481K	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	0.2194	−0.236%	—	$6.5M	—	as long as short
Variational Omni SYRUP	+0.0100%	4h	0.2189	−0.463%	$156K	$24K	—	as long as short
Reya SYRUPRUSDPERP	+0.0149%	1h	0.2195	−0.193%	—	—	5x	as long as short
Hyperliquid SYRUP	+0.0180%	1h	0.2199	+0.014%	$5.4M	$1.8M	3x	as long as short
GMX SYRUP/USD [ETH-USDC]	L +0.0314% / S −0.1301%	1h	0.2196	−0.151%	$2K	—	50x	as long as short
Kraken Futures PF_SYRUPUSD	+0.1627%	1h	0.2194	−0.250%	$40K	$21K	10x	as long as short