Funding arb · Price arb /

SYRUP

all SYRUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0214%/8h= −23.4% APRpaid last 24h −0.066%

Price spread now: Variational Omni against GMX+0.010%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 Variational Omni

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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$6 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX SYRUP/USD [ETH-USDC]	0.2200	L +0.0314% / S −0.1301%	pay 0.0039% / 1h	23m 48s	$2K	—	50x
Short	Variational Omni SYRUP	0.2200	0.0100	get 0.0050% / 4h	3h 23m	$157K	$26K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.010%Rate

Funding earned: −$44.88
Price spread: +0.010% → 0.000%: $0.97
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$55.91
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Variational Omni: RFQ quote, 30 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 Variational Omni RFQ quote, 30 min ago	6.79 bp	doesn't fit	346.2 bp −$3,462	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
Kraken Futures PF_SYRUPUSD	−0.0049%	1h	0.2202	+0.101%	$40K	$22K	10x	as long as short
Lighter SYRUP	+0.0096%	1h	0.2203	+0.103%	$204K	$218K	5x	as long as short
Aster SYRUPUSDT	+0.0100%	4h	0.2201	+0.024%	$14K	$68K	10x	as long as short
Binance SYRUPUSDT	+0.0100%	4h	0.2198	−0.120%	$8.9M	$7.4M	25x	as long as short
Bybit SYRUPUSDT	+0.0100%	4h	0.2200	+0.008%	$2.1M	$2.1M	25x	as long as short
OKX SYRUP-USDT-SWAP	+0.0100%	4h	0.2200	−0.010%	$1.0M	$1.1M	20x	as long as short
Gate SYRUP_USDT	+0.0100%	8h	0.2202	+0.071%	$405K	$65K	25x	as long as short
MEXC SYRUP_USDT	+0.0100%	4h	0.2197	−0.147%	$2.8M	$424K	100x	as long as short
KuCoin SYRUPUSDTM	+0.0100%	4h	0.2202	+0.080%	$1.8M	$151K	25x	as long as short
Bitget SYRUPUSDT	+0.0100%	4h	0.2202	+0.080%	$694K	$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	0.2199	−0.038%	—	$6.6M	—	as long as short
Variational Omni SYRUPshort	+0.0100%	4h	0.2200	+0.010%	$157K	$26K	—
Reya SYRUPRUSDPERP	+0.0149%	1h	0.2200	−0.030%	—	—	5x	as long as short
BloFin SYRUP-USDT	+0.0157%	4h	0.2200	+0.012%	$423K	$128K	50x	as long as short
Hyperliquid SYRUP	+0.0221%	1h	0.2202	+0.080%	$5.4M	$1.9M	3x	as long as short
GMX SYRUP/USD [ETH-USDC]long	L +0.0314% / S −0.1301%	1h	0.2200	long leg	$2K	—	50x