Funding arb · Price arb /

UMA

all UMA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against Bitget−0.099%7-day average −0.022% · you buy dearer than you sell

Net, funding: paid 7d − costs−$170as in the Funding arb table

Net, price: spread back to 7d avg − costs−$178as in the Price arb table

costs, in and out, $10k−$1701.705% of the position

Long on Bitget Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.005%+$1 on $10k

Price spread, last 4 days (all we have)+0.055%+$6 · spread now −0.099%, 7d avg −0.022%

Together, before fees+0.061%+$6 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: Bybit is 0.077% cheaper against Bitget than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of −0.022%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget UMAUSDT	0.4046	0.0100	pay 0.0050% / 4h	3h 08m	$976K	$67K	50x
Short	Bybit UMAUSDT	0.4042	0.0100	get 0.0050% / 4h	3h 08m	$672K	$151K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.099%Rate

Funding earned: $0
Price spread: −0.099% → −0.022%: −$7.66
Slippage, 4 orders: −$147.48
Fee Bitget: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$178.14
Costs to cover: 1.705%
Break-even: never at this rate

Slippage from Bitget: live order book, 42 min ago; Bybit: live order book, 37 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, 42 min ago	6.15 bp	31.6 bp −$32	212.7 bp −$2,127	doesn't fit	doesn't fit
Sell Bybit live order book, 37 min ago	4.92 bp	37.8 bp −$38	199.7 bp −$1,997	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	+0.0056%	4h	0.4050	+0.099%	$74K	$7K	50x	as long as short
Hyperliquid UMA	+0.0100%	1h	0.4040	−0.138%	$213K	$67K	3x	as long as short
Aster UMAUSDT	+0.0100%	4h	0.4044	−0.060%	$25K	$769	5x	as long as short
Binance UMAUSDT	+0.0100%	4h	0.4038	−0.198%	$1.5M	$1.2M	50x	as long as short
Bybit UMAUSDTshort	+0.0100%	4h	0.4042	−0.099%	$672K	$151K	25x
OKX UMA-USDT-SWAP	+0.0100%	4h	0.4040	−0.148%	$315K	$241K	10x	as long as short
Gate UMA_USDT	+0.0100%	4h	0.4045	−0.025%	$77K	$45K	25x	as long as short
MEXC UMA_USDT	+0.0100%	4h	0.4039	−0.173%	$251K	$169K	50x	as long as short
KuCoin UMAUSDTM	+0.0100%	4h	0.4046	0.000%	$155K	$63K	30x	as long as short
Bitget UMAUSDTlong	+0.0100%	4h	0.4046	long leg	$976K	$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	0.4039	−0.173%	—	$2.3M	—	as long as short
Variational Omni UMA	+0.0100%	4h	0.4053	+0.179%	$5K	$7	—	as long as short
Kraken Futures PF_UMAUSD	+0.2084%	1h	0.4068	+0.542%	$14K	$6K	10x	as long as short