Funding arb · Price arb /

SYRUP

all SYRUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.1154%/8h= +126.3% APRpaid last 24h +0.415%

Price spread now: GMX against BloFin−0.054%51s7-day average — · you buy dearer than you sell

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

Long on BloFin Short on GMX

What this pair did over the last

the charts below follow

Funding, last 4 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

Funding pays, the price is against you. GMX is 0.054% cheaper against BloFin than usual: you would sell low and buy high (spread −0.054% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 4 hours of funding at the current rate (+$35 a day). The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin SYRUP-USDT	0.2200	0.0147	pay 0.0074% / 4h	3h 41m	$414K	$134K	50x
Short	GMX SYRUP/USD [ETH-USDC]	0.2199	L +0.0313% / S −0.1301%	get 0.0163% / 1h	41m 39s	$2K	—	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against BloFin. 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 BloFinbpFee GMXbpOrdersPrice spread, now −0.054%Rate

Funding earned: $242.29
Price spread: −0.054% → 0.000%: −$5.36
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: $212.92
Costs to cover: 0.240%
Break-even: 0.8 days

Slippage unknown: BloFin: live order book, 34 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 BloFin live order book, 34 min ago	1.14 bp	18.9 bp −$19	doesn't fit	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
Lighter SYRUP	+0.0096%	1h	0.2204	+0.182%	$201K	$220K	5x	as long as short
Aster SYRUPUSDT	+0.0100%	4h	0.2200	+0.015%	$14K	$73K	10x	as long as short
Binance SYRUPUSDT	+0.0100%	4h	0.2200	−0.011%	$8.9M	$7.2M	25x	as long as short
Bybit SYRUPUSDT	+0.0100%	4h	0.2201	+0.064%	$2.1M	$2.4M	25x	as long as short
OKX SYRUP-USDT-SWAP	+0.0100%	4h	0.2201	+0.045%	$1.1M	$1.1M	20x	as long as short
Gate SYRUP_USDT	+0.0100%	8h	0.2198	−0.095%	$404K	$60K	25x	as long as short
MEXC SYRUP_USDT	+0.0100%	4h	0.2199	−0.045%	$2.9M	$415K	100x	as long as short
KuCoin SYRUPUSDTM	+0.0100%	4h	0.2199	−0.027%	$1.9M	$152K	25x	as long as short
Bitget SYRUPUSDT	+0.0100%	4h	0.2203	+0.136%	$704K	$479K	20x	as long as short
BingX SYRUP-USDT	+0.0100%	4h	0.2200	+0.005%	—	$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	0.2201	+0.045%	$157K	$24K	—	as long as short
BloFin SYRUP-USDTlong	+0.0147%	4h	0.2200	long leg	$414K	$134K	50x
Reya SYRUPRUSDPERP	+0.0149%	1h	0.2199	−0.046%	—	—	5x	as long as short
Hyperliquid SYRUP	+0.0231%	1h	0.2205	+0.245%	$5.5M	$1.8M	3x	as long as short
GMX SYRUP/USD [ETH-USDC]short	L +0.0313% / S −0.1301%	1h	0.2199	−0.054%	$2K	—	50x
Kraken Futures PF_SYRUPUSD	+1.4472%	1h	0.2194	−0.270%	$40K	$21K	10x	as long as short