Funding arb · Price arb /

SYRUP

all SYRUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.1375%/8h= +150.6% APRpaid last 24h +0.428%

Price spread now: GMX against BloFin+0.051%51s7-day average — · you sell dearer than you buy

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

Long on BloFin 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 +$41 a day on $10k at the current rate, and GMX is 0.051% dearer against BloFin than usual: you sell high and buy low: +$5 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 51 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	BloFin SYRUP-USDT	0.2215	0.0072	pay 0.0036% / 4h	25m 44s	$430K	$129K	50x
Short	GMX SYRUP/USD [ETH-USDC]	0.2216	L +0.0329% / S −0.1447%	get 0.0181% / 1h	25m 44s	$3K	—	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against BloFin. 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 BloFinbpFee GMXbpOrdersPrice spread, now +0.051%Rate

Funding earned: $288.83
Price spread: +0.051% → 0.000%: $5.15
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: $269.97
Costs to cover: 0.240%
Break-even: 0.5 days

Slippage unknown: BloFin: live order book, 10 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 BloFin live order book, 10 min ago	0.23 bp	26.9 bp −$27	doesn't fit	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
Kraken Futures PF_SYRUPUSD	−0.0804%	1h	0.2215	+0.026%	$40K	$24K	10x	as long as short
BloFin SYRUP-USDTlong	+0.0072%	4h	0.2215	long leg	$430K	$129K	50x
Lighter SYRUP	+0.0096%	1h	0.2219	+0.208%	$205K	$219K	5x	as long as short
Hyperliquid SYRUP	+0.0100%	1h	0.2221	+0.316%	$5.5M	$1.9M	3x	as long as short
Aster SYRUPUSDT	+0.0100%	4h	0.2215	+0.014%	$14K	$69K	10x	as long as short
Binance SYRUPUSDT	+0.0100%	4h	0.2216	+0.086%	$9.0M	$7.3M	25x	as long as short
Bybit SYRUPUSDT	+0.0100%	4h	0.2217	+0.090%	$2.2M	$2.1M	25x	as long as short
OKX SYRUP-USDT-SWAP	+0.0100%	4h	0.2217	+0.113%	$1.1M	$1.1M	20x	as long as short
Gate SYRUP_USDT	+0.0100%	8h	0.2213	−0.068%	$408K	$70K	25x	as long as short
MEXC SYRUP_USDT	+0.0100%	4h	0.2215	+0.023%	$2.8M	$425K	100x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin SYRUPUSDTM	+0.0100%	4h	0.2215	+0.036%	$1.9M	$152K	25x	as long as short
Bitget SYRUPUSDT	+0.0100%	4h	0.2216	+0.068%	$700K	$508K	20x	as long as short
BingX SYRUP-USDT	+0.0100%	4h	0.2216	+0.068%	—	$6.5M	—	as long as short
Variational Omni SYRUP	+0.0100%	4h	0.2216	+0.072%	$158K	$31K	—	as long as short
Reya SYRUPRUSDPERP	+0.0149%	1h	0.2215	+0.041%	—	—	5x	as long as short
GMX SYRUP/USD [ETH-USDC]short	L +0.0329% / S −0.1447%	1h	0.2216	+0.051%	$3K	—	50x