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: KuCoin against Binance−0.064%7-day average +0.098% · you buy dearer than you sell

Net, funding: paid 7d − costs−$1,208as in the Funding arb table

Net, price: spread back to 7d avg − costs−$1,227as in the Price arb table

costs, in and out, $10k−$1,21112.110% of the position

Long on Binance Short on KuCoin

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)+0.129%+$13 · spread now −0.064%, 7d avg +0.098%

Together, before fees+0.161%+$16 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: KuCoin is 0.162% cheaper against Binance than usual: you would sell low and buy high, −$16 on $10k if it goes back to its 7-day average of +0.098%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance UMAUSDT	0.4049	0.0100	pay 0.0050% / 4h	1h 13m	$1.5M	$1.2M	50x
Short	KuCoin UMAUSDTM	0.4046	0.0100	get 0.0050% / 4h	1h 13m	$156K	$63K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.064%Rate

Funding earned: $0
Price spread: −0.064% → +0.098%: −$16.25
Slippage, 4 orders: −$1,189
Fee Binance: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$1,227.25
Costs to cover: 12.110%
Break-even: never at this rate

Slippage from Binance: live order book, 5 min ago; KuCoin: live order book, 1 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, 5 min ago	4.94 bp	28.4 bp −$28	190.9 bp −$1,909	doesn't fit	doesn't fit
Sell KuCoin live order book, 1 min ago	14.83 bp	244.6 bp −$245	doesn't fit	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	+0.0045%	4h	0.4055	+0.158%	$75K	$8K	50x	as long as short
Hyperliquid UMA	+0.0100%	1h	0.4052	+0.086%	$214K	$67K	3x	as long as short
Aster UMAUSDT	+0.0100%	4h	0.4047	−0.031%	$25K	$2K	5x	as long as short
Binance UMAUSDTlong	+0.0100%	4h	0.4049	long leg	$1.5M	$1.2M	50x
Bybit UMAUSDT	+0.0100%	4h	0.4049	+0.010%	$671K	$157K	25x	as long as short
OKX UMA-USDT-SWAP	+0.0100%	4h	0.4048	−0.015%	$315K	$238K	10x	as long as short
Gate UMA_USDT	+0.0100%	4h	0.4044	−0.114%	$78K	$45K	25x	as long as short
MEXC UMA_USDT	+0.0100%	4h	0.4048	−0.015%	$225K	$164K	50x	as long as short
KuCoin UMAUSDTMshort	+0.0100%	4h	0.4046	−0.064%	$156K	$63K	30x
Bitget UMAUSDT	+0.0100%	4h	0.4053	+0.109%	$976K	$67K	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	0.4052	+0.084%	—	$2.3M	—	as long as short
Variational Omni UMA	+0.0100%	4h	0.4056	+0.175%	$5K	$7	—	as long as short
Kraken Futures PF_UMAUSD	+0.2648%	1h	0.4058	+0.228%	$14K	$6K	10x	as long as short