Funding arb · Price arb /

UMA

all UMA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.1840%/8h= +201.5% APRpaid last 24h +0.417%

Price spread now: Kraken Futures against BloFin+0.296%57s7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on BloFin Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$55 a day on $10k at the current rate, and Kraken Futures is 0.296% dearer against BloFin than usual: you sell high and buy low: +$30 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin UMA-USDT	0.4024	0.0090	pay 0.0045% / 4h	2h 20m	$72K	$5K	50x
Short	Kraken Futures PF_UMAUSD	0.4036	0.1930	get 0.0241% / 1h	20m 04s	$14K	$6K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against BloFin. 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 BloFinbpFee Kraken FuturesbpOrdersPrice spread, now +0.296%Rate

Funding earned: $386.44
Price spread: +0.296% → 0.000%: $29.62
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $394.06
Costs to cover: 0.220%
Break-even: from the start

Slippage unknown: BloFin: no order-book sample; Kraken Futures: no order-book sample. Net counts fees only.

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 BloFin no order-book sample	—	—	—	—	—
Sell Kraken Futures no order-book sample	—	—	—	—	—

BloFin and Kraken Futures: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

UMA on 13 exchanges

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-USDTlong	+0.0090%	4h	0.4024	long leg	$72K	$5K	50x
Hyperliquid UMA	+0.0100%	1h	0.4026	+0.047%	$217K	$73K	3x	as long as short
Aster UMAUSDT	+0.0100%	4h	0.4023	−0.025%	$24K	$769	5x	as long as short
Binance UMAUSDT	+0.0100%	4h	0.4020	−0.102%	$1.5M	$1.1M	50x	as long as short
Bybit UMAUSDT	+0.0100%	4h	0.4024	0.000%	$687K	$151K	25x	as long as short
OKX UMA-USDT-SWAP	+0.0100%	4h	0.4021	−0.075%	$313K	$242K	10x	as long as short
Gate UMA_USDT	+0.0100%	4h	0.4020	−0.099%	$72K	$40K	25x	as long as short
MEXC UMA_USDT	+0.0100%	4h	0.4022	−0.050%	$254K	$174K	50x	as long as short
KuCoin UMAUSDTM	+0.0100%	4h	0.4026	+0.050%	$152K	$60K	30x	as long as short
Bitget UMAUSDT	+0.0100%	4h	0.4029	+0.124%	$973K	$59K	50x	as long as short

Show all 13 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX UMA-USDT	+0.0100%	4h	0.4020	−0.099%	—	$2.3M	—	as long as short
Variational Omni UMA	+0.0100%	4h	0.4025	+0.029%	$5K	$1	—	as long as short
Kraken Futures PF_UMAUSDshort	+0.1930%	1h	0.4036	+0.296%	$14K	$6K	10x