Funding arb · Price arb /

UMA

all UMA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.2394%/8h= +262.2% APRpaid last 24h +0.426%

Price spread now: Kraken Futures against Binance+0.395%7-day average — · you sell dearer than you buy

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

Long on Binance Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 4 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

Both sides work for this trade now. Funding pays +$72 a day on $10k at the current rate, and Kraken Futures is 0.395% dearer against Binance than usual: you sell high and buy low: +$39 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance UMAUSDT	0.4019	0.0100	pay 0.0050% / 4h	2h 48m	$1.5M	$1.3M	50x
Short	Kraken Futures PF_UMAUSD	0.4034	0.2494	get 0.0312% / 1h	48m 44s	$14K	$6K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.395%Rate

Funding earned: $502.82
Price spread: +0.395% → 0.000%: $39.46
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $522.28
Costs to cover: 0.200%
Break-even: from the start

Slippage unknown: Binance: live order book, 14 min ago; Kraken Futures: 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 Binance live order book, 14 min ago	3.72 bp	29.4 bp −$29	182.9 bp −$1,829	doesn't fit	doesn't fit
Sell Kraken Futures no order-book sample	—	—	—	—	—

Kraken Futures: 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.

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	0.4021	+0.056%	$213K	$68K	3x	as long as short
Aster UMAUSDT	+0.0100%	4h	0.4013	−0.142%	$24K	$2K	5x	as long as short
Binance UMAUSDTlong	+0.0100%	4h	0.4019	long leg	$1.5M	$1.3M	50x
Bybit UMAUSDT	+0.0100%	4h	0.4020	+0.036%	$667K	$168K	25x	as long as short
OKX UMA-USDT-SWAP	+0.0100%	4h	0.4017	−0.039%	$313K	$242K	10x	as long as short
Gate UMA_USDT	+0.0100%	4h	0.4020	+0.036%	$78K	$46K	25x	as long as short
MEXC UMA_USDT	+0.0100%	4h	0.4018	−0.014%	$231K	$168K	50x	as long as short
KuCoin UMAUSDTM	+0.0100%	4h	0.4015	−0.089%	$163K	$62K	30x	as long as short
Bitget UMAUSDT	+0.0100%	4h	0.4014	−0.114%	$968K	$71K	50x	as long as short
BingX UMA-USDT	+0.0100%	4h	0.4017	−0.039%	—	$2.3M	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni UMA	+0.0100%	4h	0.4015	−0.092%	$5K	$7	—	as long as short
BloFin UMA-USDT	+0.0133%	4h	0.4016	−0.064%	$74K	$6K	50x	as long as short
Kraken Futures PF_UMAUSDshort	+0.2494%	1h	0.4034	+0.395%	$14K	$6K	10x