Funding arb · Price arb /

SYRUP

all SYRUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.066%

Price spread now: MEXC against Lighter−0.186%7-day average −0.121% · you buy dearer than you sell

Net, funding: paid 7d − costs−$79as in the Funding arb table

Net, price: spread back to 7d avg − costs−$77as in the Price arb table

costs, in and out, $10k−$710.705% of the position

Long on Lighter Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.085%−$9 on $10k

Price spread, last 4 days (all we have)+0.029%+$3 · spread now −0.186%, 7d avg −0.121%

Together, before fees−0.056%+ Points / potential airdropLighter: Season 3 · farm board−$6 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: MEXC is 0.065% cheaper against Lighter than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of −0.121%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter SYRUP	0.2308	0.0096	pay 0.0012% / 1h	47m 35s	$209K	$225K	5x
Short	MEXC SYRUP_USDT	0.2304	0.0100	get 0.0050% / 4h	1h 47m	$3.1M	$560K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.186%Rate

Funding earned: $0.84
Price spread: −0.186% → −0.121%: −$6.54
Slippage, 4 orders: −$62.5
Fee Lighter: 0 bp × 2 orders: $0
Fee MEXC: 4 bp × 2 orders: −$8
Net: −$76.2
Costs to cover: 0.705%
Break-even: 642.0 days

Slippage from Lighter: live order book, 26 min ago; MEXC: live order book, 5 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, 26 min ago	15.18 bp	15.6 bp −$16	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 5 min ago	2.17 bp	9.1 bp −$9	62.6 bp −$626	296.4 bp −$29.6K	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
Lighter SYRUPlong	+0.0096%	1h	0.2308	long leg	$209K	$225K	5x
Aster SYRUPUSDT	+0.0100%	4h	0.2305	−0.137%	$12K	$61K	10x	as long as short
Binance SYRUPUSDT	+0.0100%	4h	0.2305	−0.156%	$9.7M	$6.4M	25x	as long as short
Bybit SYRUPUSDT	+0.0100%	4h	0.2304	−0.173%	$2.3M	$1.9M	25x	as long as short
OKX SYRUP-USDT-SWAP	+0.0100%	4h	0.2304	−0.186%	$1.2M	$990K	20x	as long as short
Gate SYRUP_USDT	+0.0100%	8h	0.2306	−0.113%	$430K	$67K	25x	as long as short
MEXC SYRUP_USDTshort	+0.0100%	4h	0.2304	−0.186%	$3.1M	$560K	100x
KuCoin SYRUPUSDTM	+0.0100%	4h	0.2311	+0.134%	$2.0M	$107K	25x	as long as short
Bitget SYRUPUSDT	+0.0100%	4h	0.2304	−0.186%	$678K	$431K	20x	as long as short
BingX SYRUP-USDT	+0.0100%	4h	0.2303	−0.238%	—	$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	0.2306	−0.082%	$166K	$51K	—	as long as short
BloFin SYRUP-USDT	+0.0124%	4h	0.2303	−0.234%	$466K	$133K	50x	as long as short
Reya SYRUPRUSDPERP	+0.0149%	1h	0.2304	−0.180%	—	—	5x	as long as short
GMX SYRUP/USD [ETH-USDC]	L +0.0331% / S −0.1447%	1h	0.2303	−0.228%	$3K	—	50x	as long as short
Hyperliquid SYRUP	+0.0376%	1h	0.2309	+0.013%	$5.9M	$1.5M	3x	as long as short
Kraken Futures PF_SYRUPUSD	+0.1422%	1h	0.2305	−0.146%	$41K	$23K	10x	as long as short