Funding arb · Price arb /

UMA

all UMA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: MEXC against Binance+0.018%7-day average −0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$92as in the Funding arb table

Net, price: spread back to 7d avg − costs−$89as in the Price arb table

costs, in and out, $10k−$910.914% of the position

Long on Binance Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.001%$0 on $10k

Price spread, last 4 days (all we have)+0.021%+$2 · spread now +0.018%, 7d avg −0.004%

Together, before fees+0.020%+$2 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: MEXC is 0.022% dearer against Binance than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of −0.004%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance UMAUSDT	0.4057	0.0100	pay 0.0050% / 4h	3h 38m	$1.5M	$1.1M	50x
Short	MEXC UMA_USDT	0.4058	0.0100	get 0.0050% / 4h	3h 38m	$214K	$171K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.018%Rate

Funding earned: $0
Price spread: +0.018% → −0.004%: $2.19
Slippage, 4 orders: −$77.44
Fee Binance: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$89.25
Costs to cover: 0.914%
Break-even: never at this rate

Slippage from Binance: live order book, 9 min ago; MEXC: live order book, 40 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, 9 min ago	2.46 bp	30.0 bp −$30	275.9 bp −$2,759	doesn't fit	doesn't fit
Sell MEXC live order book, 40 min ago	1.23 bp	17.5 bp −$17	73.4 bp −$734	128.5 bp −$12.8K	396.0 bp −$198.0K

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	0.4060	+0.070%	$215K	$65K	3x	as long as short
Aster UMAUSDT	+0.0100%	4h	0.4057	−0.002%	$25K	$769	5x	as long as short
Binance UMAUSDTlong	+0.0100%	4h	0.4057	long leg	$1.5M	$1.1M	50x
Bybit UMAUSDT	+0.0100%	4h	0.4059	+0.043%	$680K	$144K	25x	as long as short
OKX UMA-USDT-SWAP	+0.0100%	4h	0.4056	−0.031%	$316K	$232K	10x	as long as short
Gate UMA_USDT	+0.0100%	4h	0.4060	+0.068%	$78K	$41K	25x	as long as short
MEXC UMA_USDTshort	+0.0100%	4h	0.4058	+0.018%	$214K	$171K	50x
KuCoin UMAUSDTM	+0.0100%	4h	0.4059	+0.043%	$155K	$62K	30x	as long as short
Bitget UMAUSDT	+0.0100%	4h	0.4065	+0.191%	$981K	$63K	50x	as long as short
BingX UMA-USDT	+0.0100%	4h	0.4057	−0.006%	—	$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	0.4060	+0.076%	$5K	$1	—	as long as short
BloFin UMA-USDT	+0.0151%	4h	0.4056	−0.031%	$74K	$7K	50x	as long as short
Kraken Futures PF_UMAUSD	+0.1711%	1h	0.4067	+0.248%	$14K	$5K	10x	as long as short