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 Bybit−0.049%7-day average −0.092% · you buy dearer than you sell

Net, funding: paid 7d − costs−$151as in the Funding arb table

Net, price: spread back to 7d avg − costs−$143as in the Price arb table

costs, in and out, $10k−$1471.474% of the position

Long on Bybit Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.031%−$3 on $10k

Price spread, last 4 days (all we have)−0.068%−$7 · spread now −0.049%, 7d avg −0.092%

Together, before fees−0.099%−$10 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 0.042% dearer against Bybit than usual: you sell high and buy low, +$4 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	Bybit UMAUSDT	0.4057	0.0100	pay 0.0050% / 4h	1h 21m	$672K	$157K	25x
Short	Binance UMAUSDT	0.4055	0.0100	get 0.0050% / 4h	1h 21m	$1.5M	$1.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Bybit. 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 BybitbpFee BinancebpOrdersPrice spread, now −0.049%Rate

Funding earned: $0
Price spread: −0.049% → −0.092%: $4.23
Slippage, 4 orders: −$126.43
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Binance: 5 bp × 2 orders: −$10
Net: −$143.2
Costs to cover: 1.474%
Break-even: never at this rate

Slippage from Bybit: live order book, 33 min ago; Binance: live order book, 11 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 Bybit live order book, 33 min ago	6.20 bp	55.8 bp −$56	3980.0 bp −$39.8K	doesn't fit	doesn't fit
Sell Binance live order book, 11 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
Hyperliquid UMA	+0.0100%	1h	0.4059	+0.044%	$215K	$67K	3x	as long as short
Aster UMAUSDT	+0.0100%	4h	0.4053	−0.098%	$25K	$2K	5x	as long as short
Binance UMAUSDTshort	+0.0100%	4h	0.4055	−0.049%	$1.5M	$1.2M	50x
Bybit UMAUSDTlong	+0.0100%	4h	0.4057	long leg	$672K	$157K	25x
OKX UMA-USDT-SWAP	+0.0100%	4h	0.4057	0.000%	$316K	$236K	10x	as long as short
Gate UMA_USDT	+0.0100%	4h	0.4043	−0.345%	$78K	$45K	25x	as long as short
MEXC UMA_USDT	+0.0100%	4h	0.4055	−0.049%	$225K	$163K	50x	as long as short
KuCoin UMAUSDTM	+0.0100%	4h	0.4054	−0.074%	$157K	$63K	30x	as long as short
Bitget UMAUSDT	+0.0100%	4h	0.4059	+0.049%	$978K	$67K	50x	as long as short
BingX UMA-USDT	+0.0100%	4h	0.4055	−0.049%	—	$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	0.4046	−0.267%	$5K	$7	—	as long as short
BloFin UMA-USDT	+0.0138%	4h	0.4044	−0.320%	$75K	$8K	50x	as long as short
Kraken Futures PF_UMAUSD	+0.2642%	1h	0.4066	+0.225%	$14K	$6K	10x	as long as short