SYN arbitrage between Kraken and Binance: we compare the price of SYN on Kraken (futures) and Binance (spot) in real time — the executable spread (buy at the ask, sell at the bid), basis, volume and deposit/withdrawal status. You can see whether the gap holds or is a one-second blip you would never get into.

Over the past 24 hours the spread between Kraken and Binance stayed between 0.45% and 0.84%, median 0.69% across 130 samples (funding divergence).

SYN: Binance — deposit open, withdrawal open.

Open interest in SYN right now — $6.8M: Binance $5.0M, BingX $1.1M, Bitget $596.3K, HTX $50.0K. See OI SYN.

About SYN arbitrage

How do I read the SYN spread?

The spread is how many percent higher SYN trades on one exchange than on the other. We measure it at tradeable prices (ask/bid) net of fees; “net” is closer to what you actually keep.

Is this arbitrage worth taking?

Look past the spread: check volume, order-book depth and the deposit/withdrawal status on Kraken and Binance. If deposits or withdrawals are shut, or the book is thin, the spread exists on paper but you cannot trade into it.

How do I get SYN alerts?

Build a rule in the the builder with the spread threshold you want — the notification arrives as a Telegram direct message within seconds.