Funding arb · Price arb /

UMA

all UMA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: BingX against Binance+0.007%7-day average +0.059% · you sell dearer than you buy

Net, funding: paid 7d − costs−$126as in the Funding arb table

Net, price: spread back to 7d avg − costs−$135as in the Price arb table

costs, in and out, $10k−$1291.295% of the position

Long on Binance Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.032%+$3 on $10k

Price spread, last 7 days+0.020%+$2 · spread now +0.007%, 7d avg +0.059%

Together, before fees+0.052%+$5 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: BingX is 0.052% cheaper against Binance than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.059%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance UMAUSDT	0.4000	0.0100	pay 0.0050% / 4h	2h 54m	$1.5M	$1.3M	50x
Short	BingX UMA-USDT	0.4000	0.0100	get 0.0050% / 4h	2h 54m	—	$2.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Binance. 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 BinancebpFee BingXbpOrdersPrice spread, now +0.007%Rate

Funding earned: $0
Price spread: +0.007% → +0.059%: −$5.22
Slippage, 4 orders: −$109.49
Fee Binance: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$134.71
Costs to cover: 1.295%
Break-even: never at this rate

Slippage from Binance: live order book, 8 min ago; BingX: live order book, 8 min ago.

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 Binance live order book, 8 min ago	3.72 bp	29.4 bp −$29	182.9 bp −$1,829	doesn't fit	doesn't fit
Sell BingX live order book, 8 min ago	9.92 bp	35.0 bp −$35	81.8 bp −$818	788.3 bp −$78.8K	1186.9 bp −$593.5K

UMA on 13 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
Hyperliquid UMA	+0.0100%	1h	0.4003	+0.077%	$212K	$68K	3x	as long as short
Aster UMAUSDT	+0.0100%	4h	0.4001	+0.043%	$24K	$2K	5x	as long as short
Binance UMAUSDTlong	+0.0100%	4h	0.4000	long leg	$1.5M	$1.3M	50x
Bybit UMAUSDT	+0.0100%	4h	0.4002	+0.057%	$664K	$168K	25x	as long as short
OKX UMA-USDT-SWAP	+0.0100%	4h	0.4002	+0.057%	$311K	$242K	10x	as long as short
Gate UMA_USDT	+0.0100%	4h	0.4015	+0.382%	$77K	$46K	25x	as long as short
MEXC UMA_USDT	+0.0100%	4h	0.4000	+0.007%	$231K	$167K	50x	as long as short
KuCoin UMAUSDTM	+0.0100%	4h	0.4000	+0.007%	$162K	$62K	30x	as long as short
Bitget UMAUSDT	+0.0100%	4h	0.4005	+0.132%	$966K	$71K	50x	as long as short
BingX UMA-USDTshort	+0.0100%	4h	0.4000	+0.007%	—	$2.3M	—

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni UMA	+0.0100%	4h	0.4004	+0.104%	$5K	$7	—	as long as short
BloFin UMA-USDT	+0.0122%	4h	0.4003	+0.082%	$74K	$6K	50x	as long as short
Kraken Futures PF_UMAUSD	+0.2500%	1h	0.4025	+0.636%	$14K	$6K	10x	as long as short