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 Bybit−0.022%7-day average — · you buy dearer than you sell

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

Long on Bybit 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—needs both histories

Funding pays, the price is against you. GMX is 0.022% cheaper against Bybit than usual: you would sell low and buy high (spread −0.022% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$2 on $10k: about 1 hour of funding at the current rate (+$40 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit SYRUPUSDT	0.2214	0.0100	pay 0.0050% / 4h	18m 08s	$2.1M	$2.1M	25x
Short	GMX SYRUP/USD [ETH-USDC]	0.2213	L +0.0329% / S −0.1447%	get 0.0181% / 1h	18m 08s	$3K	—	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Bybit. 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 BybitbpFee GMXbpOrdersPrice spread, now −0.022%Rate

Funding earned: $282.92
Price spread: −0.022% → 0.000%: −$2.17
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee GMX: 6 bp × 2 orders: −$12
Net: $257.76
Costs to cover: 0.230%
Break-even: 0.6 days

Slippage unknown: Bybit: live order book, 4 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 Bybit live order book, 4 min ago	2.93 bp	42.0 bp −$42	173.5 bp −$1,735	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	−0.0804%	1h	0.2213	−0.026%	$40K	$24K	10x	as long as short
Lighter SYRUP	+0.0096%	1h	0.2216	+0.117%	$205K	$219K	5x	as long as short
Hyperliquid SYRUP	+0.0100%	1h	0.2219	+0.239%	$5.5M	$1.9M	3x	as long as short
Aster SYRUPUSDT	+0.0100%	4h	0.2212	−0.068%	$14K	$69K	10x	as long as short
Binance SYRUPUSDT	+0.0100%	4h	0.2214	+0.001%	$9.0M	$7.3M	25x	as long as short
Bybit SYRUPUSDTlong	+0.0100%	4h	0.2214	long leg	$2.1M	$2.1M	25x
OKX SYRUP-USDT-SWAP	+0.0100%	4h	0.2213	−0.027%	$1.1M	$1.1M	20x	as long as short
Gate SYRUP_USDT	+0.0100%	8h	0.2213	−0.036%	$408K	$70K	25x	as long as short
MEXC SYRUP_USDT	+0.0100%	4h	0.2213	−0.027%	$2.8M	$425K	100x	as long as short
KuCoin SYRUPUSDTM	+0.0100%	4h	0.2220	+0.267%	$1.9M	$152K	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	0.2214	+0.018%	$698K	$508K	20x	as long as short
BingX SYRUP-USDT	+0.0100%	4h	0.2214	+0.018%	—	$6.5M	—	as long as short
Variational Omni SYRUP	+0.0100%	4h	0.2218	+0.192%	$158K	$31K	—	as long as short
BloFin SYRUP-USDT	+0.0105%	4h	0.2216	+0.090%	$428K	$128K	50x	as long as short
Reya SYRUPRUSDPERP	+0.0149%	1h	0.2213	−0.046%	—	—	5x	as long as short
GMX SYRUP/USD [ETH-USDC]short	L +0.0329% / S −0.1447%	1h	0.2213	−0.022%	$3K	—	50x