Funding arb · Price arb /

SYRUP

all SYRUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0182%/8h= −19.9% APRnext payment −$0.23 per $10,000 · paid last 24h —

Price spread now: Reya against GMX+0.032%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 Reya

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

The price spread pays, funding is against you. Reya is 0.032% dearer against GMX than usual: you sell high and buy low (spread +0.032% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 14 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX SYRUP/USD [ETH-USDC]	0.2306	L +0.0331% / S −0.1447%	pay 0.0041% / 1h	52m 38s	$3K	—	50x
Short	Reya SYRUPRUSDPERP	0.2306	0.0149	get 0.0019% / 1h	52m 38s	—	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now +0.032%Rate

Funding earned: −$38.19
Price spread: +0.032% → 0.000%: $3.16
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Reya: 3 bp × 2 orders: −$6
Net: −$53.03
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Reya: 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 GMX no order-book sample	—	—	—	—	—
Sell Reya no order-book sample	—	—	—	—	—

GMX and Reya: 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
BloFin SYRUP-USDT	+0.0084%	4h	0.2305	−0.012%	$457K	$135K	50x	as long as short
Lighter SYRUP	+0.0096%	1h	0.2310	+0.179%	$210K	$217K	5x	as long as short
Aster SYRUPUSDT	+0.0100%	4h	0.2304	−0.063%	$14K	$63K	10x	as long as short
Binance SYRUPUSDT	+0.0100%	4h	0.2304	−0.055%	$9.6M	$6.8M	25x	as long as short
Bybit SYRUPUSDT	+0.0100%	4h	0.2308	+0.088%	$2.3M	$2.0M	25x	as long as short
OKX SYRUP-USDT-SWAP	+0.0100%	4h	0.2305	−0.029%	$1.2M	$1.1M	20x	as long as short
Gate SYRUP_USDT	+0.0100%	8h	0.2307	+0.062%	$429K	$68K	25x	as long as short
MEXC SYRUP_USDT	+0.0100%	4h	0.2305	−0.029%	$3.0M	$578K	100x	as long as short
Bitget SYRUPUSDT	+0.0100%	4h	0.2305	−0.029%	$679K	$454K	20x	as long as short
BingX SYRUP-USDT	+0.0100%	4h	0.2306	+0.027%	—	$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	0.2312	+0.278%	$166K	$46K	—	as long as short
KuCoin SYRUPUSDTM	+0.0102%	4h	0.2317	+0.491%	$2.0M	$110K	25x	as long as short
Reya SYRUPRUSDPERPshort	+0.0149%	1h	0.2306	+0.032%	—	—	5x
GMX SYRUP/USD [ETH-USDC]long	L +0.0331% / S −0.1447%	1h	0.2306	long leg	$3K	—	50x
Hyperliquid SYRUP	+0.0344%	1h	0.2309	+0.157%	$5.9M	$1.6M	3x	as long as short
Kraken Futures PF_SYRUPUSD	+0.1566%	1h	0.2307	+0.070%	$41K	$23K	10x	as long as short