Funding arb · Price arb /

SYRUP

all SYRUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0230%/8h= −25.1% APRpaid last 24h −0.069%

Price spread now: KuCoin against GMX+0.076%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 KuCoin

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. KuCoin is 0.076% dearer against GMX than usual: you sell high and buy low (spread +0.076% 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 27 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX SYRUP/USD [ETH-USDC]	0.2239	L +0.0330% / S −0.1447%	pay 0.0041% / 1h	10m 46s	$3K	—	50x
Short	KuCoin SYRUPUSDTM	0.2241	0.0100	get 0.0050% / 4h	1h 10m	$1.9M	$151K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.076%Rate

Funding earned: −$48.2
Price spread: +0.076% → 0.000%: $7.64
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$64.56
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; KuCoin: live order book, 6 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 KuCoin live order book, 6 min ago	24.46 bp	182.8 bp −$183	doesn't fit	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
BloFin SYRUP-USDT	+0.0094%	4h	0.2237	−0.102%	$438K	$126K	50x	as long as short
Lighter SYRUP	+0.0096%	1h	0.2245	+0.286%	$207K	$218K	5x	as long as short
Aster SYRUPUSDT	+0.0100%	4h	0.2239	−0.020%	$14K	$66K	10x	as long as short
Binance SYRUPUSDT	+0.0100%	4h	0.2241	+0.105%	$9.2M	$7.0M	25x	as long as short
Bybit SYRUPUSDT	+0.0100%	4h	0.2241	+0.081%	$2.2M	$2.1M	25x	as long as short
OKX SYRUP-USDT-SWAP	+0.0100%	4h	0.2241	+0.090%	$1.1M	$1.1M	20x	as long as short
Gate SYRUP_USDT	+0.0100%	8h	0.2238	−0.067%	$415K	$71K	25x	as long as short
MEXC SYRUP_USDT	+0.0100%	4h	0.2240	+0.045%	$2.9M	$425K	100x	as long as short
KuCoin SYRUPUSDTMshort	+0.0100%	4h	0.2241	+0.076%	$1.9M	$151K	25x
Bitget SYRUPUSDT	+0.0100%	4h	0.2241	+0.090%	$704K	$500K	20x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX SYRUP-USDT	+0.0100%	4h	0.2242	+0.134%	—	$6.5M	—	as long as short
Variational Omni SYRUP	+0.0100%	4h	0.2238	−0.041%	$161K	$32K	—	as long as short
Reya SYRUPRUSDPERP	+0.0149%	1h	0.2239	+0.005%	—	—	5x	as long as short
Hyperliquid SYRUP	+0.0159%	1h	0.2246	+0.335%	$5.6M	$1.8M	3x	as long as short
GMX SYRUP/USD [ETH-USDC]long	L +0.0330% / S −0.1447%	1h	0.2239	long leg	$3K	—	50x
Kraken Futures PF_SYRUPUSD	+0.0827%	1h	0.2240	+0.063%	$41K	$24K	10x	as long as short