Funding arb · Price arb /

UNI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.002%

Price spread now: Backpack against Arcus+0.076%7-day average −0.046% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$20as in the Price arb table

costs, in and out, $10k−$320.323% of the position

Long on Arcus Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.013%+$1 on $10k

Price spread, last 4 days (all we have)−0.201%−$20 · spread now +0.076%, 7d avg −0.046%

Together, before fees−0.188%−$19 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: Backpack is 0.121% dearer against Arcus than usual: you sell high and buy low, +$12 on $10k if it goes back to its 7-day average of −0.046%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus UNI-USD	8.8230	0.0100	pay 0.0013% / 1h	24m 20s	$315K	$690K	10x
Short	Backpack UNI_USDC_PERP	8.8297	0.0100	get 0.0013% / 1h	24m 20s	$1.0M	$2.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Arcus. 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 ArcusbpFee BackpackbpOrdersPrice spread, now +0.076%Rate

Funding earned: $0
Price spread: +0.076% → −0.046%: $12.15
Slippage, 4 orders: −$17.75
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$20.11
Costs to cover: 0.323%
Break-even: never at this rate

Slippage from Arcus: live order book, 14 min ago; Backpack: live order book, 5 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 Arcus live order book, 14 min ago	5.63 bp	8.5 bp −$8	15.7 bp −$157	doesn't fit	doesn't fit
Sell Backpack live order book, 5 min ago	0.28 bp	7.3 bp −$7	56.0 bp −$560	doesn't fit	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
Kraken Futures PF_UNIUSD	−0.0308%	1h	8.8219	−0.012%	$4.6M	$8.6M	50x	as long as short
01 Exchange UNIUSD	−0.0016%	1h	8.8232	+0.002%	$440	$5	10x	as long as short
Deribit UNI_USDC-PERPETUAL	0.0000%	1h	8.8253	+0.026%	$584K	$264K	50x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0007%	1h	8.8296	+0.075%	$48K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	+0.079%	$660	$153K	12x	as long as short
Nado UNI-PERP	+0.0041%	1h	8.8168	−0.071%	$722K	$4.7M	10x	as long as short
Polymarket Perps UNI-USD	+0.0057%	1h	8.8216	−0.016%	$104K	$615K	10x	as long as short
Lighter UNI	+0.0096%	1h	8.8322	+0.104%	$4.4M	$5.6M	15x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.8168	−0.070%	$25K	—	20x	as long as short
Hyperliquid UNI	+0.0100%	1h	8.8318	+0.100%	$94.1M	$67.5M	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster UNIUSDT	+0.0100%	8h	8.8264	+0.039%	$717K	$3.3M	50x	as long as short
Pacifica UNI	+0.0100%	1h	8.8211	−0.022%	$285K	$599K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	8.8207	−0.026%	$213.6M	$652.3M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	8.8150	−0.091%	$97.6M	$110.6M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	8.8160	−0.079%	$54.0M	$260.2M	50x	as long as short
Arcus UNI-USDlong	+0.0100%	1h	8.8230	long leg	$315K	$690K	10x
Gate UNI_USDT	+0.0100%	8h	8.8210	−0.023%	$25.9M	$66.4M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.8220	−0.011%	$47.9M	$26.3M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.8210	−0.023%	$12.9M	$13.3M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.8160	−0.079%	$32.3M	$45.3M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	8.8210	−0.023%	—	$6.5M	—	as long as short
Backpack UNI_USDC_PERPshort	+0.0100%	1h	8.8297	+0.076%	$1.0M	$2.5M	10x
Variational Omni UNI	+0.0100%	8h	8.8189	−0.047%	$4.1M	$4.1M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.8421	+0.216%	$167K	$345K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.8330	+0.113%	$613K	$2.6M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.8310	+0.091%	$89K	$709K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.8290	+0.068%	$14K	$3.4M	20x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.8170	−0.068%	$17K	$2.2M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.8243	+0.015%	$36K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.8157	−0.083%	$32K	$887K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.8318	+0.100%	$695K	$4.7M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.8260	+0.034%	$26.6M	$4.5M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	8.8132	−0.111%	$285K	$1.7M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.8179	−0.057%	$31K	—	3x	as long as short
Coinbase International UNI-PERP-INTX	+0.0200%	1h	8.8270	+0.045%	$919K	$5.4M	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.8240	+0.011%	$10.1M	$3.6M	75x	as long as short
Aftermath Perps UNIUSD	+0.0381%	1h	8.8403	+0.196%	$945	$52K	10x	as long as short
Reya UNIRUSDPERP	+0.0381%	1h	8.8145	−0.096%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0243%	1h	8.8301	+0.080%	$628K	—	120x	as long as short
dYdX UNI-USD	+0.0560%	1h	8.8223	−0.008%	$232K	$30K	10x	as long as short