Funding arb · Price arb /

SYRUP

all SYRUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0214%/8h= −23.4% APRpaid last 24h −0.064%

Price spread now: Gate against GMX−0.063%7-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 Gate

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

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Gate is 0.063% cheaper against GMX than usual: you would sell low and buy high (−$6 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

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	57m 18s	$2K	—	50x
Short	Gate SYRUP_USDT	0.2199	0.0100	get 0.0100% / 8h	1h 57m	$405K	$62K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.063%Rate

Funding earned: −$44.86
Price spread: −0.063% → 0.000%: −$6.32
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$78.18
Costs to cover: 0.270%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Gate: live order book, 48 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 Gate live order book, 48 min ago	16.60 bp	264.6 bp −$265	doesn't fit	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	−0.0002%	1h	0.2204	+0.171%	$39K	$24K	10x	as long as short
Lighter SYRUP	+0.0096%	1h	0.2206	+0.237%	$205K	$213K	5x	as long as short
Hyperliquid SYRUP	+0.0100%	1h	0.2204	+0.169%	$5.4M	$1.9M	3x	as long as short
Aster SYRUPUSDT	+0.0100%	4h	0.2200	−0.021%	$14K	$69K	10x	as long as short
Binance SYRUPUSDT	+0.0100%	4h	0.2200	−0.039%	$8.9M	$7.6M	25x	as long as short
Bybit SYRUPUSDT	+0.0100%	4h	0.2201	+0.014%	$2.2M	$2.6M	25x	as long as short
OKX SYRUP-USDT-SWAP	+0.0100%	4h	0.2199	−0.068%	$1.0M	$1.2M	20x	as long as short
Gate SYRUP_USDTshort	+0.0100%	8h	0.2199	−0.063%	$405K	$62K	25x
MEXC SYRUP_USDT	+0.0100%	4h	0.2200	−0.022%	$2.8M	$420K	100x	as long as short
KuCoin SYRUPUSDTM	+0.0100%	4h	0.2210	+0.423%	$1.9M	$157K	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	0.2201	+0.023%	$692K	$511K	20x	as long as short
BingX SYRUP-USDT	+0.0100%	4h	0.2200	−0.004%	—	$6.5M	—	as long as short
Variational Omni SYRUP	+0.0100%	4h	0.2200	−0.032%	$157K	$27K	—	as long as short
BloFin SYRUP-USDT	+0.0134%	4h	0.2199	−0.054%	$419K	$126K	50x	as long as short
Reya SYRUPRUSDPERP	+0.0149%	1h	0.2200	−0.025%	—	—	5x	as long as short
GMX SYRUP/USD [ETH-USDC]long	L +0.0314% / S −0.1301%	1h	0.2200	long leg	$2K	—	50x