Funding arb · Price arb /

SYRUP

all SYRUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.1298%/8h= +142.2% APRnext payment +$1.62 per $10,000 · paid last 24h —

Price spread now: GMX against Reya−0.024%55s7-day average — · you buy dearer than you sell

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

Long on Reya Short on GMX

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

Funding pays, the price is against you. GMX is 0.024% cheaper against Reya than usual: you would sell low and buy high (spread −0.024% 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 (+$39 a day). The two prices were read 55 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	Reya SYRUPRUSDPERP	0.2300	0.0149	pay 0.0019% / 1h	48m 34s	—	—	5x
Short	GMX SYRUP/USD [ETH-USDC]	0.2300	L +0.0331% / S −0.1447%	get 0.0181% / 1h	48m 34s	$3K	—	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Reya. 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 ReyabpFee GMXbpOrdersPrice spread, now −0.024%Rate

Funding earned: $272.65
Price spread: −0.024% → 0.000%: −$2.43
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee GMX: 6 bp × 2 orders: −$12
Net: $252.22
Costs to cover: 0.180%
Break-even: 0.5 days

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

Reya and 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
Lighter SYRUP	+0.0096%	1h	0.2304	+0.167%	$209K	$217K	5x	as long as short
Aster SYRUPUSDT	+0.0100%	4h	0.2301	+0.024%	$14K	$63K	10x	as long as short
Binance SYRUPUSDT	+0.0100%	4h	0.2300	−0.012%	$9.6M	$6.8M	25x	as long as short
Bybit SYRUPUSDT	+0.0100%	4h	0.2301	+0.059%	$2.3M	$2.0M	25x	as long as short
OKX SYRUP-USDT-SWAP	+0.0100%	4h	0.2298	−0.093%	$1.2M	$1.1M	20x	as long as short
Gate SYRUP_USDT	+0.0100%	8h	0.2301	+0.059%	$428K	$68K	25x	as long as short
MEXC SYRUP_USDT	+0.0100%	4h	0.2300	−0.006%	$3.0M	$578K	100x	as long as short
Bitget SYRUPUSDT	+0.0100%	4h	0.2301	+0.037%	$678K	$454K	20x	as long as short
BingX SYRUP-USDT	+0.0100%	4h	0.2300	−0.006%	—	$6.5M	—	as long as short
Variational Omni SYRUP	+0.0100%	4h	0.2303	+0.141%	$166K	$46K	—	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin SYRUPUSDTM	+0.0116%	4h	0.2312	+0.515%	$2.0M	$111K	25x	as long as short
Reya SYRUPRUSDPERPlong	+0.0149%	1h	0.2300	long leg	—	—	5x
BloFin SYRUP-USDT	+0.0151%	4h	0.2301	+0.020%	$457K	$135K	50x	as long as short
GMX SYRUP/USD [ETH-USDC]short	L +0.0331% / S −0.1447%	1h	0.2300	−0.024%	$3K	—	50x
Hyperliquid SYRUP	+0.0390%	1h	0.2305	+0.193%	$5.8M	$1.6M	3x	as long as short
Kraken Futures PF_SYRUPUSD	+0.1569%	1h	0.2303	+0.121%	$41K	$23K	10x	as long as short