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: OKX against Bybit−0.099%7-day average −0.032% · you buy dearer than you sell

Net, funding: paid 7d − costs−$173as in the Funding arb table

Net, price: spread back to 7d avg − costs−$172as in the Price arb table

costs, in and out, $10k−$1651.654% of the position

Long on Bybit Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.075%−$7 on $10k

Price spread, last 4 days (all we have)+0.099%+$10 · spread now −0.099%, 7d avg −0.032%

Together, before fees+0.024%+$2 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: OKX is 0.067% cheaper against Bybit than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of −0.032%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit UMAUSDT	0.4055	0.0100	pay 0.0050% / 4h	26m 57s	$672K	$153K	25x
Short	OKX UMA-USDT-SWAP	0.4051	0.0100	get 0.0050% / 4h	26m 57s	$315K	$242K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.099%Rate

Funding earned: $0
Price spread: −0.099% → −0.032%: −$6.67
Slippage, 4 orders: −$144.38
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee OKX: 5 bp × 2 orders: −$10
Net: −$172.05
Costs to cover: 1.654%
Break-even: never at this rate

Slippage from Bybit: live order book, 23 min ago; OKX: live order book, 28 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, 23 min ago	7.44 bp	52.7 bp −$53	263.1 bp −$2,631	doesn't fit	doesn't fit
Sell OKX live order book, 28 min ago	4.95 bp	35.2 bp −$35	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	0.4055	−0.007%	$214K	$67K	3x	as long as short
Aster UMAUSDT	+0.0100%	4h	0.4052	−0.070%	$25K	$2K	5x	as long as short
Binance UMAUSDT	+0.0100%	4h	0.4052	−0.074%	$1.5M	$1.2M	50x	as long as short
Bybit UMAUSDTlong	+0.0100%	4h	0.4055	long leg	$672K	$153K	25x
OKX UMA-USDT-SWAPshort	+0.0100%	4h	0.4051	−0.099%	$315K	$242K	10x
Gate UMA_USDT	+0.0100%	4h	0.4047	−0.197%	$78K	$45K	25x	as long as short
MEXC UMA_USDT	+0.0100%	4h	0.4052	−0.074%	$222K	$164K	50x	as long as short
KuCoin UMAUSDTM	+0.0100%	4h	0.4052	−0.074%	$156K	$63K	30x	as long as short
Bitget UMAUSDT	+0.0100%	4h	0.4051	−0.099%	$975K	$67K	50x	as long as short
BingX UMA-USDT	+0.0100%	4h	0.4053	−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	0.4051	−0.091%	$5K	$7	—	as long as short
BloFin UMA-USDT	+0.0118%	4h	0.4054	−0.025%	$75K	$8K	50x	as long as short
Kraken Futures PF_UMAUSD	+0.2337%	1h	0.4072	+0.413%	$14K	$6K	10x	as long as short