Funding arb · Price arb /

UMA

all UMA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against Binance+0.028%7-day average +0.088% · you sell dearer than you buy

Net, funding: paid 7d − costs−$150as in the Funding arb table

Net, price: spread back to 7d avg − costs−$159as in the Price arb table

costs, in and out, $10k−$1531.534% of the position

Long on Binance Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.031%+$3 on $10k

Price spread, last 4 days (all we have)+0.115%+$11 · spread now +0.028%, 7d avg +0.088%

Together, before fees+0.146%+$15 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: Bybit is 0.060% cheaper against Binance than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of +0.088%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance UMAUSDT	0.4054	0.0100	pay 0.0050% / 4h	3h 33m	$1.5M	$1.2M	50x
Short	Bybit UMAUSDT	0.4055	0.0100	get 0.0050% / 4h	3h 33m	$672K	$149K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.028%Rate

Funding earned: $0
Price spread: +0.028% → +0.088%: −$6
Slippage, 4 orders: −$132.38
Fee Binance: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$159.38
Costs to cover: 1.534%
Break-even: never at this rate

Slippage from Binance: live order book, 14 min ago; Bybit: live order book, 12 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, 14 min ago	2.46 bp	24.5 bp −$24	187.4 bp −$1,874	doesn't fit	doesn't fit
Sell Bybit live order book, 12 min ago	4.92 bp	37.8 bp −$38	199.7 bp −$1,997	doesn't fit	doesn't fit

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
BloFin UMA-USDT	+0.0041%	4h	0.4054	+0.004%	$75K	$7K	50x	as long as short
Hyperliquid UMA	+0.0100%	1h	0.4058	+0.100%	$214K	$67K	3x	as long as short
Aster UMAUSDT	+0.0100%	4h	0.4056	+0.047%	$25K	$769	5x	as long as short
Binance UMAUSDTlong	+0.0100%	4h	0.4054	long leg	$1.5M	$1.2M	50x
Bybit UMAUSDTshort	+0.0100%	4h	0.4055	+0.028%	$672K	$149K	25x
OKX UMA-USDT-SWAP	+0.0100%	4h	0.4055	+0.028%	$315K	$242K	10x	as long as short
Gate UMA_USDT	+0.0100%	4h	0.4056	+0.053%	$78K	$45K	25x	as long as short
MEXC UMA_USDT	+0.0100%	4h	0.4054	+0.004%	$254K	$166K	50x	as long as short
KuCoin UMAUSDTM	+0.0100%	4h	0.4056	+0.053%	$156K	$62K	30x	as long as short
Bitget UMAUSDT	+0.0100%	4h	0.4057	+0.078%	$976K	$64K	50x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX UMA-USDT	+0.0100%	4h	0.4055	+0.028%	—	$2.3M	—	as long as short
Variational Omni UMA	+0.0100%	4h	0.4058	+0.097%	$5K	$7	—	as long as short
Kraken Futures PF_UMAUSD	+0.2088%	1h	0.4061	+0.178%	$14K	$6K	10x	as long as short