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: Bitget against Bybit−0.025%7-day average +0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs−$161as in the Funding arb table

Net, price: spread back to 7d avg − costs−$165as in the Price arb table

costs, in and out, $10k−$1601.603% of the position

Long on Bybit Short on Bitget

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)+0.155%+$15 · spread now −0.025%, 7d avg +0.023%

Together, before fees+0.150%+$15 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: Bitget is 0.047% cheaper against Bybit than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.023%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit UMAUSDT	0.4058	0.0100	pay 0.0050% / 4h	1h 19m	$673K	$157K	25x
Short	Bitget UMAUSDT	0.4057	0.0100	get 0.0050% / 4h	1h 19m	$977K	$67K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.025%Rate

Funding earned: $0
Price spread: −0.025% → +0.023%: −$4.72
Slippage, 4 orders: −$137.28
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$165
Costs to cover: 1.603%
Break-even: never at this rate

Slippage from Bybit: live order book, 35 min ago; Bitget: live order book, 41 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, 35 min ago	6.20 bp	55.8 bp −$56	3980.0 bp −$39.8K	doesn't fit	doesn't fit
Sell Bitget live order book, 41 min ago	8.69 bp	29.7 bp −$30	133.1 bp −$1,331	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	−0.345%	$75K	$8K	50x	as long as short
Hyperliquid UMA	+0.0100%	1h	0.4056	−0.042%	$215K	$67K	3x	as long as short
Aster UMAUSDT	+0.0100%	4h	0.4056	−0.051%	$25K	$2K	5x	as long as short
Binance UMAUSDT	+0.0100%	4h	0.4052	−0.143%	$1.5M	$1.2M	50x	as long as short
Bybit UMAUSDTlong	+0.0100%	4h	0.4058	long leg	$673K	$157K	25x
OKX UMA-USDT-SWAP	+0.0100%	4h	0.4054	−0.099%	$316K	$236K	10x	as long as short
Gate UMA_USDT	+0.0100%	4h	0.4048	−0.246%	$78K	$45K	25x	as long as short
MEXC UMA_USDT	+0.0100%	4h	0.4051	−0.172%	$225K	$163K	50x	as long as short
KuCoin UMAUSDTM	+0.0100%	4h	0.4054	−0.099%	$157K	$63K	30x	as long as short
Bitget UMAUSDTshort	+0.0100%	4h	0.4057	−0.025%	$977K	$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	0.4054	−0.099%	—	$2.3M	—	as long as short
Variational Omni UMA	+0.0100%	4h	0.4060	+0.055%	$5K	$7	—	as long as short
Kraken Futures PF_UMAUSD	+0.2641%	1h	0.4068	+0.245%	$14K	$6K	10x	as long as short