Funding arb · Price arb /

SYRUP

all SYRUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0230%/8h= −25.2% APRpaid last 24h −0.075%

Price spread now: MEXC against GMX−0.096%7-day average — · you buy dearer than you sell

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

Long on GMX Short on MEXC

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 against this trade now: funding costs −$7 a day on $10k at the current rate, and MEXC is 0.096% cheaper against GMX than usual: you would sell low and buy high (−$10 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX SYRUP/USD [ETH-USDC]	0.2297	L +0.0330% / S −0.1447%	pay 0.0041% / 1h	32m 37s	$3K	—	50x
Short	MEXC SYRUP_USDT	0.2295	0.0100	get 0.0050% / 4h	1h 32m	$3.1M	$561K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.096%Rate

Funding earned: −$48.31
Price spread: −0.096% → 0.000%: −$9.62
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee MEXC: 4 bp × 2 orders: −$8
Net: −$77.93
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; MEXC: live order book, 4 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 MEXC live order book, 4 min ago	4.35 bp	10.1 bp −$10	58.1 bp −$581	303.4 bp −$30.3K	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	+0.0069%	4h	0.2297	+0.008%	$463K	$132K	50x	as long as short
Lighter SYRUP	+0.0096%	1h	0.2300	+0.121%	$209K	$225K	5x	as long as short
Aster SYRUPUSDT	+0.0100%	4h	0.2298	+0.023%	$12K	$61K	10x	as long as short
Binance SYRUPUSDT	+0.0100%	4h	0.2295	−0.105%	$9.6M	$6.5M	25x	as long as short
Bybit SYRUPUSDT	+0.0100%	4h	0.2297	−0.022%	$2.3M	$1.9M	25x	as long as short
OKX SYRUP-USDT-SWAP	+0.0100%	4h	0.2295	−0.096%	$1.2M	$990K	20x	as long as short
Gate SYRUP_USDT	+0.0100%	8h	0.2296	−0.035%	$428K	$67K	25x	as long as short
MEXC SYRUP_USDTshort	+0.0100%	4h	0.2295	−0.096%	$3.1M	$561K	100x
KuCoin SYRUPUSDTM	+0.0100%	4h	0.2299	+0.082%	$2.0M	$107K	25x	as long as short
Bitget SYRUPUSDT	+0.0100%	4h	0.2298	+0.034%	$676K	$432K	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	0.2297	−0.013%	—	$6.5M	—	as long as short
Variational Omni SYRUP	+0.0100%	4h	0.2301	+0.173%	$166K	$51K	—	as long as short
Reya SYRUPRUSDPERP	+0.0149%	1h	0.2297	+0.011%	—	—	5x	as long as short
GMX SYRUP/USD [ETH-USDC]long	L +0.0330% / S −0.1447%	1h	0.2297	long leg	$3K	—	50x
Hyperliquid SYRUP	+0.0697%	1h	0.2301	+0.174%	$5.8M	$1.5M	3x	as long as short
Kraken Futures PF_SYRUPUSD	+0.1426%	1h	0.2298	+0.037%	$41K	$23K	10x	as long as short