Funding arb · Price arb /

SYRUP

all SYRUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.1347%/8h= +147.5% APRpaid last 24h +0.475%

Price spread now: GMX against Bybit−0.036%7-day average — · you buy dearer than you sell

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

Long on Bybit 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 0.036% cheaper against Bybit than usual: you would sell low and buy high (spread −0.036% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 2 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	Bybit SYRUPUSDT	0.2301	0.0100	pay 0.0050% / 4h	3h 39m	$2.3M	$2.0M	25x
Short	GMX SYRUP/USD [ETH-USDC]	0.2300	L +0.0330% / S −0.1447%	get 0.0181% / 1h	39m 12s	$3K	—	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Bybit. 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 BybitbpFee GMXbpOrdersPrice spread, now −0.036%Rate

Funding earned: $282.92
Price spread: −0.036% → 0.000%: −$3.61
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee GMX: 6 bp × 2 orders: −$12
Net: $256.32
Costs to cover: 0.230%
Break-even: 0.7 days

Slippage unknown: Bybit: live order book, 3 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 Bybit live order book, 3 min ago	2.82 bp	58.8 bp −$59	288.2 bp −$2,882	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
BloFin SYRUP-USDT	+0.0087%	4h	0.2301	−0.004%	$457K	$133K	50x	as long as short
Lighter SYRUP	+0.0096%	1h	0.2304	+0.130%	$209K	$217K	5x	as long as short
Aster SYRUPUSDT	+0.0100%	4h	0.2301	−0.011%	$14K	$63K	10x	as long as short
Binance SYRUPUSDT	+0.0100%	4h	0.2300	−0.046%	$9.6M	$6.8M	25x	as long as short
Bybit SYRUPUSDTlong	+0.0100%	4h	0.2301	long leg	$2.3M	$2.0M	25x
OKX SYRUP-USDT-SWAP	+0.0100%	4h	0.2299	−0.091%	$1.2M	$1.1M	20x	as long as short
Gate SYRUP_USDT	+0.0100%	8h	0.2301	−0.017%	$428K	$68K	25x	as long as short
MEXC SYRUP_USDT	+0.0100%	4h	0.2300	−0.048%	$3.0M	$579K	100x	as long as short
Bitget SYRUPUSDT	+0.0100%	4h	0.2300	−0.048%	$677K	$451K	20x	as long as short
BingX SYRUP-USDT	+0.0100%	4h	0.2301	−0.017%	—	$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	0.2304	+0.121%	$166K	$46K	—	as long as short
Reya SYRUPRUSDPERP	+0.0149%	1h	0.2300	−0.036%	—	—	5x	as long as short
KuCoin SYRUPUSDTM	+0.0178%	4h	0.2309	+0.365%	$2.0M	$112K	25x	as long as short
GMX SYRUP/USD [ETH-USDC]short	L +0.0330% / S −0.1447%	1h	0.2300	−0.036%	$3K	—	50x
Hyperliquid SYRUP	+0.0466%	1h	0.2305	+0.178%	$5.8M	$1.6M	3x	as long as short
Kraken Futures PF_SYRUPUSD	+0.1569%	1h	0.2303	+0.086%	$41K	$23K	10x	as long as short