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: OKX against Binance−0.035%7-day average +0.058% · you buy dearer than you sell

Net, funding: paid 7d − costs−$121as in the Funding arb table

Net, price: spread back to 7d avg − costs−$126as in the Price arb table

costs, in and out, $10k−$1171.169% of the position

Long on Binance Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.044%−$4 on $10k

Price spread, last 4 days (all we have)+0.172%+$17 · spread now −0.035%, 7d avg +0.058%

Together, before fees+0.128%+$13 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: OKX is 0.093% cheaper against Binance than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of +0.058%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance UMAUSDT	0.4052	0.0100	pay 0.0050% / 4h	27m 43s	$1.5M	$1.2M	50x
Short	OKX UMA-USDT-SWAP	0.4051	0.0100	get 0.0050% / 4h	27m 43s	$315K	$242K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.035%Rate

Funding earned: $0
Price spread: −0.035% → +0.058%: −$9.3
Slippage, 4 orders: −$96.89
Fee Binance: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$126.19
Costs to cover: 1.169%
Break-even: never at this rate

Slippage from Binance: live order book, 5 min ago; OKX: live order book, 28 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	1.24 bp	24.0 bp −$24	234.9 bp −$2,349	doesn't fit	doesn't fit
Sell OKX live order book, 28 min ago	4.95 bp	35.2 bp −$35	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	+0.0094%	4h	0.4054	+0.039%	$75K	$8K	50x	as long as short
Hyperliquid UMA	+0.0100%	1h	0.4054	+0.041%	$214K	$67K	3x	as long as short
Aster UMAUSDT	+0.0100%	4h	0.4052	0.000%	$25K	$2K	5x	as long as short
Binance UMAUSDTlong	+0.0100%	4h	0.4052	long leg	$1.5M	$1.2M	50x
Bybit UMAUSDT	+0.0100%	4h	0.4055	+0.064%	$672K	$153K	25x	as long as short
OKX UMA-USDT-SWAPshort	+0.0100%	4h	0.4051	−0.035%	$315K	$242K	10x
Gate UMA_USDT	+0.0100%	4h	0.4047	−0.134%	$78K	$45K	25x	as long as short
MEXC UMA_USDT	+0.0100%	4h	0.4052	−0.010%	$222K	$164K	50x	as long as short
KuCoin UMAUSDTM	+0.0100%	4h	0.4053	+0.014%	$156K	$63K	30x	as long as short
Bitget UMAUSDT	+0.0100%	4h	0.4051	−0.035%	$975K	$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	0.4053	+0.014%	—	$2.3M	—	as long as short
Variational Omni UMA	+0.0100%	4h	0.4051	−0.028%	$5K	$7	—	as long as short
Kraken Futures PF_UMAUSD	+0.2337%	1h	0.4072	+0.475%	$14K	$6K	10x	as long as short