Funding arb · Price arb /

SYRUP

all SYRUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.1347%/8h= +147.5% APRpaid last 24h +0.490%

Price spread now: GMX against Binance+0.041%50s7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Binance Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$40 a day on $10k at the current rate, and GMX is 0.041% dearer against Binance than usual: you sell high and buy low: +$4 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 50 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	Binance SYRUPUSDT	0.2307	0.0100	pay 0.0050% / 4h	3m 29s	$9.6M	$6.7M	25x
Short	GMX SYRUP/USD [ETH-USDC]	0.2308	L +0.0331% / S −0.1447%	get 0.0181% / 1h	3m 29s	$3K	—	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Binance. 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 BinancebpFee GMXbpOrdersPrice spread, now +0.041%Rate

Funding earned: $282.92
Price spread: +0.041% → 0.000%: $4.13
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: $265.05
Costs to cover: 0.220%
Break-even: 0.4 days

Slippage unknown: Binance: live order book, 6 min ago; GMX: no order-book sample. 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 Binance live order book, 6 min ago	1.74 bp	33.9 bp −$34	158.3 bp −$1,583	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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 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 SYRUP	+0.0096%	1h	0.2313	+0.255%	$210K	$220K	5x	as long as short
Aster SYRUPUSDT	+0.0100%	4h	0.2308	+0.034%	$14K	$63K	10x	as long as short
Binance SYRUPUSDTlong	+0.0100%	4h	0.2307	long leg	$9.6M	$6.7M	25x
Bybit SYRUPUSDT	+0.0100%	4h	0.2309	+0.069%	$2.3M	$1.9M	25x	as long as short
OKX SYRUP-USDT-SWAP	+0.0100%	4h	0.2308	+0.043%	$1.2M	$1.1M	20x	as long as short
Gate SYRUP_USDT	+0.0100%	8h	0.2306	−0.027%	$429K	$69K	25x	as long as short
MEXC SYRUP_USDT	+0.0100%	4h	0.2307	−0.001%	$3.0M	$583K	100x	as long as short
KuCoin SYRUPUSDTM	+0.0100%	4h	0.2317	+0.433%	$2.0M	$110K	25x	as long as short
Bitget SYRUPUSDT	+0.0100%	4h	0.2308	+0.043%	$680K	$454K	20x	as long as short
BingX SYRUP-USDT	+0.0100%	4h	0.2308	+0.056%	—	$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	0.2305	−0.071%	$166K	$46K	—	as long as short
BloFin SYRUP-USDT	+0.0130%	4h	0.2306	−0.035%	$456K	$135K	50x	as long as short
Reya SYRUPRUSDPERP	+0.0149%	1h	0.2308	+0.059%	—	—	5x	as long as short
GMX SYRUP/USD [ETH-USDC]short	L +0.0331% / S −0.1447%	1h	0.2308	+0.041%	$3K	—	50x
Kraken Futures PF_SYRUPUSD	+0.0682%	1h	0.2311	+0.188%	$42K	$23K	10x	as long as short
Hyperliquid SYRUP	+0.1070%	1h	0.2312	+0.203%	$5.9M	$1.6M	3x	as long as short