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 KuCoin+0.090%7-day average −0.097% · you sell dearer than you buy

Net, funding: paid 7d − costs−$1,214as in the Funding arb table

Net, price: spread back to 7d avg − costs−$1,192as in the Price arb table

costs, in and out, $10k−$1,21012.105% of the position

Long on KuCoin 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)−0.174%−$17 · spread now +0.090%, 7d avg −0.097%

Together, before fees−0.205%−$21 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 0.187% dearer against KuCoin than usual: you sell high and buy low, +$19 on $10k if it goes back to its 7-day average of −0.097%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin UMAUSDTM	0.4031	0.0100	pay 0.0050% / 4h	33m 30s	$156K	$63K	30x
Short	Binance UMAUSDT	0.4035	0.0100	get 0.0050% / 4h	33m 30s	$1.5M	$1.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against KuCoin. 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 KuCoinbpFee BinancebpOrdersPrice spread, now +0.090%Rate

Funding earned: $0
Price spread: +0.090% → −0.097%: $18.7
Slippage, 4 orders: −$1,188.46
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$1,191.76
Costs to cover: 12.105%
Break-even: never at this rate

Slippage from KuCoin: live order book, 41 min ago; Binance: live order book, 14 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 KuCoin live order book, 41 min ago	14.83 bp	911.3 bp −$911	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 14 min ago	3.72 bp	32.6 bp −$33	126.4 bp −$1,264	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	+0.0040%	4h	0.4038	+0.174%	$74K	$8K	50x	as long as short
Hyperliquid UMA	+0.0100%	1h	0.4038	+0.166%	$214K	$67K	3x	as long as short
Aster UMAUSDT	+0.0100%	4h	0.4032	+0.025%	$24K	$2K	5x	as long as short
Binance UMAUSDTshort	+0.0100%	4h	0.4035	+0.090%	$1.5M	$1.2M	50x
Bybit UMAUSDT	+0.0100%	4h	0.4033	+0.050%	$668K	$154K	25x	as long as short
OKX UMA-USDT-SWAP	+0.0100%	4h	0.4037	+0.149%	$313K	$240K	10x	as long as short
Gate UMA_USDT	+0.0100%	4h	0.4031	0.000%	$78K	$45K	25x	as long as short
MEXC UMA_USDT	+0.0100%	4h	0.4032	+0.025%	$221K	$164K	50x	as long as short
KuCoin UMAUSDTMlong	+0.0100%	4h	0.4031	long leg	$156K	$63K	30x
Bitget UMAUSDT	+0.0100%	4h	0.4040	+0.223%	$972K	$66K	50x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX UMA-USDT	+0.0100%	4h	0.4031	0.000%	—	$2.3M	—	as long as short
Variational Omni UMA	+0.0100%	4h	0.4033	+0.045%	$5K	$7	—	as long as short
Kraken Futures PF_UMAUSD	+0.2356%	1h	0.4039	+0.204%	$14K	$6K	10x	as long as short