Funding arb · Price arb /

SYRUP

all SYRUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0239%/8h= −26.2% APRpaid last 24h −0.068%

Price spread now: Binance against GMX−0.048%170s7-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 Binance

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

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Binance is 0.048% cheaper against GMX than usual: you would sell low and buy high (−$5 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 170 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	GMX SYRUP/USD [ETH-USDC]	0.2177	L +0.0339% / S −0.1589%	pay 0.0042% / 1h	8m 37s	$3K	—	50x
Short	Binance SYRUPUSDT	0.2175	0.0100	get 0.0050% / 4h	1h 08m	$8.7M	$6.6M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.048%Rate

Funding earned: −$50.27
Price spread: −0.048% → 0.000%: −$4.82
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$77.09
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Binance: live order book, 9 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 Binance live order book, 9 min ago	1.84 bp	26.6 bp −$27	88.1 bp −$881	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 exchanges

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	+0.0066%	4h	0.2175	−0.048%	$410K	$152K	50x	as long as short
Lighter SYRUP	+0.0096%	1h	0.2179	+0.113%	$198K	$186K	5x	as long as short
Hyperliquid SYRUP	+0.0100%	1h	0.2179	+0.103%	$5.5M	$1.6M	3x	as long as short
Aster SYRUPUSDT	+0.0100%	4h	0.2178	+0.086%	$16K	$36K	10x	as long as short
Binance SYRUPUSDTshort	+0.0100%	4h	0.2175	−0.048%	$8.7M	$6.6M	25x
Bybit SYRUPUSDT	+0.0100%	4h	0.2176	−0.021%	$2.1M	$2.3M	25x	as long as short
OKX SYRUP-USDT-SWAP	+0.0100%	4h	0.2176	−0.025%	$1.0M	$957K	20x	as long as short
Gate SYRUP_USDT	+0.0100%	8h	0.2175	−0.053%	$399K	$55K	25x	as long as short
MEXC SYRUP_USDT	+0.0100%	4h	0.2176	−0.025%	$3.0M	$410K	100x	as long as short
KuCoin SYRUPUSDTM	+0.0100%	4h	0.2183	+0.278%	$1.8M	$120K	25x	as long as short

Show all 16 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SYRUPUSDT	+0.0100%	4h	0.2178	+0.067%	$683K	$455K	20x	as long as short
BingX SYRUP-USDT	+0.0100%	4h	0.2176	−0.034%	—	$6.5M	—	as long as short
Variational Omni SYRUP	+0.0100%	4h	0.2175	−0.061%	$157K	$20K	—	as long as short
Reya SYRUPRUSDPERP	+0.0149%	1h	0.2176	−0.047%	—	—	5x	as long as short
GMX SYRUP/USD [ETH-USDC]long	L +0.0339% / S −0.1589%	1h	0.2177	long leg	$3K	—	50x
Kraken Futures PF_SYRUPUSD	+1.4003%	1h	0.2174	−0.120%	$42K	$19K	10x	as long as short