Funding arb · Price arb /

UNI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.002%

Price spread now: Arcus against Backpack−0.046%7-day average +0.045% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$350.348% of the position

Long on Backpack Short on Arcus

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)+0.151%+$15 · spread now −0.046%, 7d avg +0.045%

Together, before fees+0.138%+$14 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: Arcus is 0.091% cheaper against Backpack than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of +0.045%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack UNI_USDC_PERP	8.8751	0.0100	pay 0.0013% / 1h	8m 46s	$1.1M	$2.4M	10x
Short	Arcus UNI-USD	8.8710	0.0100	get 0.0013% / 1h	8m 46s	$316K	$695K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Backpack. 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 BackpackbpFee ArcusbpOrdersPrice spread, now −0.046%Rate

Funding earned: $0
Price spread: −0.046% → +0.045%: −$9.14
Slippage, 4 orders: −$20.32
Fee Backpack: 5 bp × 2 orders: −$10
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$43.96
Costs to cover: 0.348%
Break-even: never at this rate

Slippage from Backpack: live order book, just now; Arcus: live order book, 35 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 Backpack live order book, just now	0.06 bp	9.7 bp −$10	189.3 bp −$1,893	doesn't fit	doesn't fit
Sell Arcus live order book, 35 min ago	3.91 bp	8.7 bp −$9	11.1 bp −$111	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
Polymarket Perps UNI-USD	−0.0092%	1h	8.8731	−0.023%	$106K	$618K	10x	as long as short
Kraken Futures PF_UNIUSD	−0.0017%	1h	8.8727	−0.028%	$4.7M	$8.6M	50x	as long as short
01 Exchange UNIUSD	−0.0016%	1h	8.8698	−0.060%	$443	$5	10x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0007%	1h	8.8801	+0.057%	$49K	—	150x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0005%	1h	8.8735	−0.018%	$585K	$250K	50x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−0.508%	$660	$153K	12x	as long as short
Nado UNI-PERP	+0.0044%	1h	8.8710	−0.046%	$737K	$4.7M	10x	as long as short
Lighter UNI	+0.0096%	1h	8.8762	+0.012%	$4.5M	$5.7M	15x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.8606	−0.163%	$25K	—	20x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.8692	−0.066%	$727K	$3.6M	50x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica UNI	+0.0100%	1h	8.8660	−0.103%	$284K	$590K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	8.8637	−0.129%	$214.0M	$656.9M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	8.8610	−0.159%	$98.2M	$111.3M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	8.8620	−0.148%	$53.9M	$263.8M	50x	as long as short
Arcus UNI-USDshort	+0.0100%	1h	8.8710	−0.046%	$316K	$695K	10x
Gate UNI_USDT	+0.0100%	8h	8.8650	−0.114%	$25.1M	$66.7M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.8650	−0.114%	$48.5M	$26.6M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.8650	−0.114%	$13.0M	$13.4M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.8630	−0.136%	$32.4M	$45.3M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	8.8620	−0.148%	—	$6.5M	—	as long as short
Backpack UNI_USDC_PERPlong	+0.0100%	1h	8.8751	long leg	$1.1M	$2.4M	10x
Variational Omni UNI	+0.0100%	8h	8.8779	+0.031%	$4.1M	$4.3M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.8835	+0.094%	$168K	$345K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.8780	+0.033%	$621K	$2.7M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.8820	+0.078%	$89K	$710K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.8770	+0.021%	$15K	$3.4M	20x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.8710	−0.046%	$16K	$2.0M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.8746	−0.006%	$36K	$1.4M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.8665	−0.097%	$32K	$887K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.8784	+0.037%	$695K	$4.8M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.8700	−0.057%	$26.8M	$4.5M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	8.8595	−0.176%	$292K	$1.7M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.8675	−0.086%	$31K	—	3x	as long as short
Hyperliquid UNI	+0.0159%	1h	8.8788	+0.042%	$94.4M	$67.5M	10x	as long as short
Coinbase International UNI-PERP-INTX	+0.0192%	1h	8.8730	−0.024%	$924K	$5.5M	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.8740	−0.012%	$10.0M	$3.6M	75x	as long as short
dYdX UNI-USD	+0.0351%	1h	8.8664	−0.098%	$233K	$30K	10x	as long as short
Reya UNIRUSDPERP	+0.0379%	1h	8.8657	−0.106%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0243%	1h	8.8796	+0.051%	$631K	—	120x	as long as short
Aftermath Perps UNIUSD	+0.0511%	1h	8.8906	+0.175%	$949	$53K	10x	as long as short