Funding arb · Price arb /

SYRUP

all SYRUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0053%/8h= −5.8% APRnext payment −$0.07 per $10,000 · paid last 24h —

Price spread now: Lighter against Reya+0.079%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 Lighter

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 · Lighter: Season 3 · farm boardneeds both histories

The price spread pays, funding is against you. Lighter is 0.079% dearer against Reya than usual: you sell high and buy low (spread +0.079% now, against zero (this spread has no 7-day history yet)): +$8 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 5.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya SYRUPRUSDPERP	0.2244	0.0149	pay 0.0019% / 1h	15m 17s	—	—	5x
Short	Lighter SYRUP	0.2245	0.0096	get 0.0012% / 1h	15m 17s	$207K	$218K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Reya. 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 ReyabpFee LighterbpOrdersPrice spread, now +0.079%Rate

Funding earned: −$11.12
Price spread: +0.079% → 0.000%: $7.88
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Lighter: 0 bp × 2 orders: $0
Net: −$9.24
Costs to cover: 0.060%
Break-even: from the start

Slippage unknown: Reya: no order-book sample; Lighter: live order book, 35 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 Lighter live order book, 35 min ago	16.22 bp	40.7 bp −$41	636.8 bp −$6,368	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 15 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 SYRUPshort	+0.0096%	1h	0.2245	+0.079%	$207K	$218K	5x
Aster SYRUPUSDT	+0.0100%	4h	0.2243	−0.055%	$14K	$66K	10x	as long as short
Binance SYRUPUSDT	+0.0100%	4h	0.2244	−0.001%	$9.3M	$7.1M	25x	as long as short
Bybit SYRUPUSDT	+0.0100%	4h	0.2244	+0.012%	$2.2M	$2.1M	25x	as long as short
OKX SYRUP-USDT-SWAP	+0.0100%	4h	0.2242	−0.077%	$1.1M	$1.1M	20x	as long as short
Gate SYRUP_USDT	+0.0100%	8h	0.2243	−0.042%	$417K	$68K	25x	as long as short
MEXC SYRUP_USDT	+0.0100%	4h	0.2243	−0.033%	$2.9M	$430K	100x	as long as short
KuCoin SYRUPUSDTM	+0.0100%	4h	0.2253	+0.413%	$2.0M	$121K	25x	as long as short
Bitget SYRUPUSDT	+0.0100%	4h	0.2246	+0.101%	$653K	$470K	20x	as long as short
BingX SYRUP-USDT	+0.0100%	4h	0.2243	−0.037%	—	$6.5M	—	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni SYRUP	+0.0100%	4h	0.2245	+0.036%	$161K	$37K	—	as long as short
Reya SYRUPRUSDPERPlong	+0.0149%	1h	0.2244	long leg	—	—	5x
GMX SYRUP/USD [ETH-USDC]	L +0.0328% / S −0.1447%	1h	0.2244	−0.009%	$3K	—	50x	as long as short
Hyperliquid SYRUP	+0.0364%	1h	0.2246	+0.106%	$5.6M	$1.8M	3x	as long as short
Kraken Futures PF_SYRUPUSD	+0.1025%	1h	0.2241	−0.114%	$41K	$25K	10x	as long as short