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 BingX−0.129%7-day average — · you buy dearer than you sell

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

Long on BingX 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

Funding pays, the price is against you. GMX is 0.129% cheaper against BingX than usual: you would sell low and buy high (spread −0.129% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$13 on $10k: about 8 hours of funding at the current rate (+$40 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX SYRUP-USDT	0.2303	0.0100	pay 0.0050% / 4h	27m 41s	—	$6.5M	—
Short	GMX SYRUP/USD [ETH-USDC]	0.2300	L +0.0331% / S −0.1447%	get 0.0181% / 1h	27m 41s	$3K	—	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against BingX. 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 BingXbpFee GMXbpOrdersPrice spread, now −0.129%Rate

Funding earned: $282.92
Price spread: −0.129% → 0.000%: −$12.94
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: $247.99
Costs to cover: 0.220%
Break-even: 0.9 days

Slippage unknown: BingX: live order book, 9 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 BingX live order book, 9 min ago	3.70 bp	28.4 bp −$28	85.7 bp −$857	766.4 bp −$76.6K	1197.8 bp −$598.9K
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	0.2304	+0.056%	$209K	$220K	5x	as long as short
Aster SYRUPUSDT	+0.0100%	4h	0.2300	−0.123%	$13K	$62K	10x	as long as short
Binance SYRUPUSDT	+0.0100%	4h	0.2300	−0.141%	$9.6M	$6.6M	25x	as long as short
Bybit SYRUPUSDT	+0.0100%	4h	0.2302	−0.052%	$2.3M	$1.9M	25x	as long as short
OKX SYRUP-USDT-SWAP	+0.0100%	4h	0.2302	−0.048%	$1.2M	$1.0M	20x	as long as short
Gate SYRUP_USDT	+0.0100%	8h	0.2297	−0.252%	$427K	$69K	25x	as long as short
MEXC SYRUP_USDT	+0.0100%	4h	0.2299	−0.178%	$3.0M	$582K	100x	as long as short
KuCoin SYRUPUSDTM	+0.0100%	4h	0.2308	+0.195%	$2.0M	$108K	25x	as long as short
Bitget SYRUPUSDT	+0.0100%	4h	0.2302	−0.048%	$678K	$450K	20x	as long as short
BingX SYRUP-USDTlong	+0.0100%	4h	0.2303	long leg	—	$6.5M	—

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni SYRUP	+0.0100%	4h	0.2295	−0.365%	$165K	$46K	—	as long as short
BloFin SYRUP-USDT	+0.0147%	4h	0.2293	−0.430%	$459K	$133K	50x	as long as short
Reya SYRUPRUSDPERP	+0.0149%	1h	0.2303	−0.001%	—	—	5x	as long as short
GMX SYRUP/USD [ETH-USDC]short	L +0.0331% / S −0.1447%	1h	0.2300	−0.129%	$3K	—	50x
Kraken Futures PF_SYRUPUSD	+0.0683%	1h	0.2306	+0.140%	$41K	$23K	10x	as long as short
Hyperliquid SYRUP	+0.1484%	1h	0.2307	+0.178%	$5.9M	$1.5M	3x	as long as short