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: KuCoin against Bitget−0.221%7-day average −0.019% · you buy dearer than you sell

Net, funding: paid 7d − costs−$745as in the Funding arb table

Net, price: spread back to 7d avg − costs−$766as in the Price arb table

costs, in and out, $10k−$7457.453% of the position

Long on Bitget Short on KuCoin

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)+0.039%+$4 · spread now −0.221%, 7d avg −0.019%

Together, before fees+0.045%+$4 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 0.203% cheaper against Bitget than usual: you would sell low and buy high, −$20 on $10k if it goes back to its 7-day average of −0.019%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget UMAUSDT	0.4065	0.0100	pay 0.0050% / 4h	3h 39m	$981K	$63K	50x
Short	KuCoin UMAUSDTM	0.4056	0.0100	get 0.0050% / 4h	3h 39m	$155K	$62K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.221%Rate

Funding earned: $0
Price spread: −0.221% → −0.019%: −$20.28
Slippage, 4 orders: −$721.34
Fee Bitget: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$765.62
Costs to cover: 7.453%
Break-even: never at this rate

Slippage from Bitget: live order book, 57 min ago; KuCoin: live order book, 51 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, 57 min ago	6.16 bp	24.1 bp −$24	278.1 bp −$2,781	doesn't fit	doesn't fit
Sell KuCoin live order book, 51 min ago	11.12 bp	237.7 bp −$238	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
Hyperliquid UMA	+0.0100%	1h	0.4062	−0.084%	$215K	$65K	3x	as long as short
Aster UMAUSDT	+0.0100%	4h	0.4057	−0.195%	$25K	$769	5x	as long as short
Binance UMAUSDT	+0.0100%	4h	0.4057	−0.196%	$1.5M	$1.1M	50x	as long as short
Bybit UMAUSDT	+0.0100%	4h	0.4059	−0.148%	$680K	$144K	25x	as long as short
OKX UMA-USDT-SWAP	+0.0100%	4h	0.4059	−0.148%	$316K	$232K	10x	as long as short
Gate UMA_USDT	+0.0100%	4h	0.4060	−0.123%	$78K	$41K	25x	as long as short
MEXC UMA_USDT	+0.0100%	4h	0.4057	−0.197%	$214K	$171K	50x	as long as short
KuCoin UMAUSDTMshort	+0.0100%	4h	0.4056	−0.221%	$155K	$62K	30x
Bitget UMAUSDTlong	+0.0100%	4h	0.4065	long leg	$981K	$63K	50x
BingX UMA-USDT	+0.0100%	4h	0.4060	−0.123%	—	$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	−0.115%	$5K	$1	—	as long as short
BloFin UMA-USDT	+0.0151%	4h	0.4056	−0.221%	$74K	$7K	50x	as long as short
Kraken Futures PF_UMAUSD	+0.1711%	1h	0.4067	+0.057%	$14K	$5K	10x	as long as short