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: Binance against Bitget−0.123%7-day average −0.092% · you buy dearer than you sell

Net, funding: paid 7d − costs−$124as in the Funding arb table

Net, price: spread back to 7d avg − costs−$124as in the Price arb table

costs, in and out, $10k−$1211.210% of the position

Long on Bitget Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.026%−$3 on $10k

Price spread, last 7 days+0.055%+$5 · spread now −0.123%, 7d avg −0.092%

Together, before fees+0.029%+$3 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: Binance is 0.031% cheaper against Bitget than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.092%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget UMAUSDT	0.4059	0.0100	pay 0.0050% / 4h	1h 20m	$978K	$67K	50x
Short	Binance UMAUSDT	0.4054	0.0100	get 0.0050% / 4h	1h 20m	$1.5M	$1.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Bitget. 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 BitgetbpFee BinancebpOrdersPrice spread, now −0.123%Rate

Funding earned: $0
Price spread: −0.123% → −0.092%: −$3.11
Slippage, 4 orders: −$99.02
Fee Bitget: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$124.13
Costs to cover: 1.210%
Break-even: never at this rate

Slippage from Bitget: live order book, 40 min ago; Binance: 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 Bitget live order book, 40 min ago	8.69 bp	37.2 bp −$37	229.4 bp −$2,294	doesn't fit	doesn't fit
Sell Binance live order book, 12 min ago	3.71 bp	28.2 bp −$28	109.6 bp −$1,096	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	+0.0076%	4h	0.4044	−0.370%	$75K	$8K	50x	as long as short
Hyperliquid UMA	+0.0100%	1h	0.4058	−0.020%	$215K	$67K	3x	as long as short
Aster UMAUSDT	+0.0100%	4h	0.4057	−0.059%	$25K	$2K	5x	as long as short
Binance UMAUSDTshort	+0.0100%	4h	0.4054	−0.123%	$1.5M	$1.2M	50x
Bybit UMAUSDT	+0.0100%	4h	0.4057	−0.049%	$672K	$157K	25x	as long as short
OKX UMA-USDT-SWAP	+0.0100%	4h	0.4055	−0.099%	$316K	$236K	10x	as long as short
Gate UMA_USDT	+0.0100%	4h	0.4049	−0.246%	$78K	$45K	25x	as long as short
MEXC UMA_USDT	+0.0100%	4h	0.4054	−0.123%	$225K	$163K	50x	as long as short
KuCoin UMAUSDTM	+0.0100%	4h	0.4054	−0.123%	$157K	$63K	30x	as long as short
Bitget UMAUSDTlong	+0.0100%	4h	0.4059	long leg	$978K	$67K	50x

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX UMA-USDT	+0.0100%	4h	0.4058	−0.025%	—	$2.3M	—	as long as short
Variational Omni UMA	+0.0100%	4h	0.4060	+0.031%	$5K	$7	—	as long as short
Kraken Futures PF_UMAUSD	+0.2640%	1h	0.4069	+0.243%	$14K	$6K	10x	as long as short