Funding arb · Price arb /

SYRUP

all SYRUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.1347%/8h= +147.5% APRpaid last 24h +0.429%

Price spread now: GMX against Variational Omni+0.125%7-day average — · you sell dearer than you buy

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

Long on Variational Omni 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—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$40 a day on $10k at the current rate, and GMX is 0.125% dearer against Variational Omni than usual: you sell high and buy low: +$12 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni SYRUP	0.2206	0.0100	pay 0.0050% / 4h	3m 29s	$158K	$32K	—
Short	GMX SYRUP/USD [ETH-USDC]	0.2209	L +0.0328% / S −0.1447%	get 0.0181% / 1h	3m 29s	$3K	—	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Variational Omni. 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 Variational OmnibpFee GMXbpOrdersPrice spread, now +0.125%Rate

Funding earned: $282.92
Price spread: +0.125% → 0.000%: $12.49
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee GMX: 6 bp × 2 orders: −$12
Net: $283.42
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 55 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 Variational Omni RFQ quote, 55 min ago	6.75 bp	doesn't fit	218.1 bp −$2,181	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	−0.0806%	1h	0.2208	+0.108%	$40K	$22K	10x	as long as short
BloFin SYRUP-USDT	+0.0049%	4h	0.2207	+0.033%	$427K	$128K	50x	as long as short
Lighter SYRUP	+0.0096%	1h	0.2210	+0.215%	$204K	$219K	5x	as long as short
Aster SYRUPUSDT	+0.0100%	4h	0.2210	+0.174%	$14K	$69K	10x	as long as short
Binance SYRUPUSDT	+0.0100%	4h	0.2207	+0.072%	$9.0M	$7.3M	25x	as long as short
Bybit SYRUPUSDT	+0.0100%	4h	0.2208	+0.106%	$2.1M	$2.1M	25x	as long as short
OKX SYRUP-USDT-SWAP	+0.0100%	4h	0.2207	+0.056%	$1.1M	$1.1M	20x	as long as short
Gate SYRUP_USDT	+0.0100%	8h	0.2211	+0.237%	$408K	$70K	25x	as long as short
MEXC SYRUP_USDT	+0.0100%	4h	0.2208	+0.101%	$2.8M	$426K	100x	as long as short
KuCoin SYRUPUSDTM	+0.0100%	4h	0.2214	+0.355%	$1.9M	$151K	25x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SYRUPUSDT	+0.0100%	4h	0.2209	+0.147%	$697K	$508K	20x	as long as short
BingX SYRUP-USDT	+0.0100%	4h	0.2209	+0.129%	—	$6.5M	—	as long as short
Variational Omni SYRUPlong	+0.0100%	4h	0.2206	long leg	$158K	$32K	—
Reya SYRUPRUSDPERP	+0.0149%	1h	0.2208	+0.095%	—	—	5x	as long as short
Hyperliquid SYRUP	+0.0176%	1h	0.2213	+0.328%	$5.5M	$1.9M	3x	as long as short
GMX SYRUP/USD [ETH-USDC]short	L +0.0328% / S −0.1447%	1h	0.2209	+0.125%	$3K	—	50x