Funding arb · Price arb /

UNI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0293%/8h= −32.1% APRpaid last 24h −0.034%

Price spread now: Bybit against ApeX Omni−0.329%7-day average −0.135% · you buy dearer than you sell

Net, funding: paid 7d − costs−$51as in the Funding arb table

Net, price: spread back to 7d avg − costs−$62as in the Price arb table

costs, in and out, $10k−$430.430% of the position

Long on ApeX Omni Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.083%−$8 on $10k

Price spread, last 3 days (all we have)+0.049%+$5 · spread now −0.329%, 7d avg −0.135%

Together, before fees−0.034%−$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Bybit is 0.193% cheaper against ApeX Omni than usual: you would sell low and buy high (−$19 if the spread goes back to its 7-day average of −0.135%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.083% in total (about -4.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni UNIUSDT	8.8260	0.0100	pay 0.0013% / 1h	51m 13s	$83K	$713K	50x
Short	Bybit UNIUSDT	8.7970	−0.0193	pay 0.0193% / 8h	2h 51m	$102.5M	$103.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against ApeX Omni. 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 ApeX OmnibpFee BybitbpOrdersPrice spread, now −0.329%Rate

Funding earned: −$61.57
Price spread: −0.329% → −0.135%: −$19.34
Slippage, 4 orders: −$21.98
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$123.89
Costs to cover: 0.430%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 37 min ago; Bybit: live order book, 3 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 ApeX Omni live order book, 37 min ago	5.09 bp	13.1 bp −$13	100.7 bp −$1,007	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	0.57 bp	8.8 bp −$9	18.9 bp −$189	48.1 bp −$4,807	doesn't fit

UNI on 40 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
Variational Omni UNI	−0.0201%	8h	8.8015	−0.278%	$3.9M	$4.9M	—	as long as short
Bybit UNIUSDTshort	−0.0193%	8h	8.7970	−0.329%	$102.5M	$103.9M	75x
01 Exchange UNIUSD	−0.0064%	1h	8.8043	−0.246%	$439	—	10x	as long as short
Deribit UNI_USDC-PERPETUAL	0.0000%	1h	8.8074	−0.210%	$550K	$125K	50x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0006%	1h	8.8067	−0.219%	$79K	—	150x	as long as short
OKX UNI-USDT-SWAP	+0.0008%	8h	8.7970	−0.329%	$54.2M	$244.2M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.8051	−0.236%	$25K	—	20x	as long as short
Nado UNI-PERP	+0.0100%	1h	8.8050	−0.238%	$848K	$3.9M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.8082	−0.202%	$1.0M	$3.4M	50x	as long as short
Pacifica UNI	+0.0100%	1h	8.8060	−0.227%	$297K	$559K	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance UNIUSDT	+0.0100%	8h	8.8000	−0.295%	$215.5M	$593.7M	75x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.8120	−0.159%	$272K	$605K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.8000	−0.295%	$22.8M	$58.9M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.8010	−0.283%	$42.6M	$24.4M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.8000	−0.295%	$13.7M	$13.6M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.7970	−0.329%	$31.9M	$41.0M	75x	as long as short
BingX UNI-USDT	+0.0100%	8h	8.7980	−0.317%	—	$49.8M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	8.8172	−0.100%	$976K	$2.4M	10x	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.8216	−0.050%	$166K	$343K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.8310	+0.057%	$619K	$2.6M	10x	as long as short
ApeX Omni UNIUSDTlong	+0.0100%	1h	8.8260	long leg	$83K	$713K	50x
StandX UNI-USD	+0.0100%	1h	8.8170	−0.102%	$105K	$3.3M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.8045	−0.244%	$86K	$331K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.8010	−0.283%	$15K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.8075	−0.210%	$36K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.7990	−0.306%	$28K	$659K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.8240	−0.023%	$721K	$4.3M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.8070	−0.215%	$26.5M	$4.3M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	8.7965	−0.334%	$307K	$1.4M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.8062	−0.224%	$31K	$1K	3x	as long as short
Coinbase International UNI-PERP-INTX	+0.0200%	1h	8.8280	+0.023%	$1.0M	$5.3M	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.8060	−0.227%	$9.8M	$3.3M	75x	as long as short
dYdX UNI-USD	+0.0231%	1h	8.8100	−0.181%	$244K	$5K	10x	as long as short
Kraken Futures PF_UNIUSD	+0.0270%	1h	8.8058	−0.229%	$4.9M	$7.1M	50x	as long as short
Reya UNIRUSDPERP	+0.0359%	1h	8.7979	−0.318%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0380% / S −0.0320%	1h	8.8050	−0.238%	$552K	—	120x	as long as short
Hyperliquid UNI	+0.0397%	1h	8.8136	−0.140%	$95.7M	$59.6M	10x	as long as short
Lighter UNI	+0.0472%	1h	8.8227	−0.037%	$4.5M	$5.3M	15x	as long as short
Aftermath Perps UNIUSD	+0.0497%	1h	8.8189	−0.080%	$1K	$50K	10x	as long as short
Injective UNI/USDC PERP	+0.2702%	1h	8.7900	−0.408%	$657	$97K	12x	as long as short