Funding arb · Price arb /

SYRUP

all SYRUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.064%

Price spread now: Lighter against Variational Omni+0.096%7-day average +0.008% · you sell dearer than you buy

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 3 days (all we have)+0.075%+$8 on $10k

Price spread, last 4 days (all we have)−0.076%−$8 · spread now +0.096%, 7d avg +0.008%

Together, before fees−0.001%+ Points / potential airdropVariational Omni: Active · Lighter: Season 3 · farm board$0 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 0.087% dearer against Variational Omni than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of +0.008%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni SYRUP	0.2242	0.0100	pay 0.0050% / 4h	2h 01m	$161K	$37K	—
Short	Lighter SYRUP	0.2244	0.0096	get 0.0012% / 1h	1m 09s	$207K	$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 +0.096%Rate

Funding earned: −$0.84
Price spread: +0.096% → +0.008%: $8.71
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Lighter: 0 bp × 2 orders: $0
Net: $7.87
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; Lighter: live order book, 49 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, 3 min ago	8.92 bp	doesn't fit	258.6 bp −$2,586	doesn't fit	doesn't fit
Sell Lighter live order book, 49 min ago	16.22 bp	40.7 bp −$41	636.8 bp −$6,368	doesn't fit	doesn't fit

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	0.2244	+0.096%	$207K	$218K	5x
Aster SYRUPUSDT	+0.0100%	4h	0.2241	−0.042%	$14K	$66K	10x	as long as short
Binance SYRUPUSDT	+0.0100%	4h	0.2241	−0.056%	$9.2M	$7.0M	25x	as long as short
Bybit SYRUPUSDT	+0.0100%	4h	0.2241	−0.034%	$2.2M	$2.1M	25x	as long as short
OKX SYRUP-USDT-SWAP	+0.0100%	4h	0.2240	−0.092%	$1.1M	$1.1M	20x	as long as short
Gate SYRUP_USDT	+0.0100%	8h	0.2239	−0.136%	$416K	$68K	25x	as long as short
MEXC SYRUP_USDT	+0.0100%	4h	0.2240	−0.092%	$2.9M	$433K	100x	as long as short
KuCoin SYRUPUSDTM	+0.0100%	4h	0.2241	−0.047%	$2.0M	$121K	25x	as long as short
Bitget SYRUPUSDT	+0.0100%	4h	0.2244	+0.087%	$650K	$456K	20x	as long as short
BingX SYRUP-USDT	+0.0100%	4h	0.2239	−0.132%	—	$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 SYRUPlong	+0.0100%	4h	0.2242	long leg	$161K	$37K	—
Reya SYRUPRUSDPERP	+0.0149%	1h	0.2241	−0.036%	—	—	5x	as long as short
GMX SYRUP/USD [ETH-USDC]	L +0.0328% / S −0.1447%	1h	0.2241	−0.029%	$3K	—	50x	as long as short
Hyperliquid SYRUP	+0.0336%	1h	0.2246	+0.179%	$5.6M	$1.8M	3x	as long as short
Kraken Futures PF_SYRUPUSD	+0.1026%	1h	0.2239	−0.125%	$41K	$25K	10x	as long as short