Funding arb · Price arb /

SYRUP

all SYRUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0231%/8h= −25.3% APRpaid last 24h −0.077%

Price spread now: Bitget against GMX+0.082%7-day average — · you sell dearer than you buy

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

Long on GMX Short on Bitget

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

The price spread pays, funding is against you. Bitget is 0.082% dearer against GMX than usual: you sell high and buy low (spread +0.082% now, against zero (this spread has no 7-day history yet)): +$8 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 29 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX SYRUP/USD [ETH-USDC]	0.2297	L +0.0331% / S −0.1447%	pay 0.0041% / 1h	38m 40s	$3K	—	50x
Short	Bitget SYRUPUSDT	0.2299	0.0100	get 0.0050% / 4h	2h 38m	$670K	$409K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against GMX. 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 GMXbpFee BitgetbpOrdersPrice spread, now +0.082%Rate

Funding earned: −$48.44
Price spread: +0.082% → 0.000%: $8.23
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$64.21
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Bitget: live order book, 46 min ago. 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 GMX no order-book sample	—	—	—	—	—
Sell Bitget live order book, 46 min ago	6.45 bp	27.2 bp −$27	82.1 bp −$821	doesn't fit	doesn't fit

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	0.2302	+0.204%	$209K	$225K	5x	as long as short
Aster SYRUPUSDT	+0.0100%	4h	0.2297	+0.012%	$11K	$59K	10x	as long as short
Binance SYRUPUSDT	+0.0100%	4h	0.2297	−0.023%	$9.6M	$6.2M	25x	as long as short
Bybit SYRUPUSDT	+0.0100%	4h	0.2298	+0.030%	$2.3M	$1.8M	25x	as long as short
OKX SYRUP-USDT-SWAP	+0.0100%	4h	0.2298	+0.039%	$1.2M	$962K	20x	as long as short
Gate SYRUP_USDT	+0.0100%	8h	0.2297	−0.005%	$430K	$65K	25x	as long as short
MEXC SYRUP_USDT	+0.0100%	4h	0.2296	−0.048%	$3.1M	$566K	100x	as long as short
KuCoin SYRUPUSDTM	+0.0100%	4h	0.2306	+0.370%	$2.0M	$106K	25x	as long as short
Bitget SYRUPUSDTshort	+0.0100%	4h	0.2299	+0.082%	$670K	$409K	20x
BingX SYRUP-USDT	+0.0100%	4h	0.2298	+0.026%	—	$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	0.2303	+0.259%	$165K	$48K	—	as long as short
Reya SYRUPRUSDPERP	+0.0149%	1h	0.2298	+0.027%	—	—	5x	as long as short
BloFin SYRUP-USDT	+0.0157%	4h	0.2297	−0.013%	$470K	$130K	50x	as long as short
GMX SYRUP/USD [ETH-USDC]long	L +0.0331% / S −0.1447%	1h	0.2297	long leg	$3K	—	50x
Kraken Futures PF_SYRUPUSD	+0.0981%	1h	0.2303	+0.235%	$41K	$24K	10x	as long as short
Hyperliquid SYRUP	+0.1339%	1h	0.2302	+0.230%	$5.7M	$1.3M	3x	as long as short