Funding arb · Price arb /

SYRUP

all SYRUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.1201%/8h= +131.5% APRpaid last 24h +0.397%

Price spread now: GMX against KuCoin−0.425%7-day average — · you buy dearer than you sell

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

Long on KuCoin 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 0.425% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.425% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$43 on $10k: about 28 hours of funding at the current rate (+$36 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin SYRUPUSDTM	0.2210	0.0100	pay 0.0050% / 4h	2h 46m	$1.8M	$151K	25x
Short	GMX SYRUP/USD [ETH-USDC]	0.2200	L +0.0314% / S −0.1301%	get 0.0163% / 1h	46m 18s	$2K	—	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against KuCoin. 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 KuCoinbpFee GMXbpOrdersPrice spread, now −0.425%Rate

Funding earned: $252.18
Price spread: −0.425% → 0.000%: −$42.54
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: $185.65
Costs to cover: 0.240%
Break-even: 1.8 days

Slippage unknown: KuCoin: live order book, 5 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 KuCoin live order book, 5 min ago	24.63 bp	119.8 bp −$120	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
Kraken Futures PF_SYRUPUSD	−0.0416%	1h	0.2202	−0.359%	$39K	$23K	10x	as long as short
BloFin SYRUP-USDT	+0.0095%	4h	0.2202	−0.353%	$422K	$126K	50x	as long as short
Lighter SYRUP	+0.0096%	1h	0.2204	−0.249%	$205K	$219K	5x	as long as short
Aster SYRUPUSDT	+0.0100%	4h	0.2202	−0.341%	$14K	$68K	10x	as long as short
Binance SYRUPUSDT	+0.0100%	4h	0.2199	−0.469%	$8.9M	$7.5M	25x	as long as short
Bybit SYRUPUSDT	+0.0100%	4h	0.2203	−0.321%	$2.2M	$2.2M	25x	as long as short
OKX SYRUP-USDT-SWAP	+0.0100%	4h	0.2200	−0.443%	$1.0M	$1.1M	20x	as long as short
Gate SYRUP_USDT	+0.0100%	8h	0.2201	−0.394%	$405K	$64K	25x	as long as short
MEXC SYRUP_USDT	+0.0100%	4h	0.2199	−0.489%	$2.8M	$423K	100x	as long as short
KuCoin SYRUPUSDTMlong	+0.0100%	4h	0.2210	long leg	$1.8M	$151K	25x

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SYRUPUSDT	+0.0100%	4h	0.2203	−0.308%	$696K	$509K	20x	as long as short
BingX SYRUP-USDT	+0.0100%	4h	0.2201	−0.385%	—	$6.5M	—	as long as short
Variational Omni SYRUP	+0.0100%	4h	0.2207	−0.135%	$157K	$27K	—	as long as short
Reya SYRUPRUSDPERP	+0.0149%	1h	0.2201	−0.392%	—	—	5x	as long as short
GMX SYRUP/USD [ETH-USDC]short	L +0.0314% / S −0.1301%	1h	0.2200	−0.425%	$2K	—	50x
Hyperliquid SYRUP	+0.0345%	1h	0.2205	−0.240%	$5.4M	$1.9M	3x	as long as short