Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.006%

Price spread now: Binance against Backpack−0.188%55s7-day average −0.525% · you buy dearer than you sell

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$290.285% of the position

Long on Backpack Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.053%−$5 on $10k

Price spread, last 7 days+0.228%+$23 · spread now −0.188%, 7d avg −0.525%

Together, before fees+0.175%+$18 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 0.337% dearer against Backpack than usual: you sell high and buy low, +$34 on $10k if it goes back to its 7-day average of −0.525%. The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack UNI_USDC_PERP	9.0019	0.0100	pay 0.0013% / 1h	51m 10s	$987K	$2.4M	10x
Short	Binance UNIUSDT	8.9850	0.0100	get 0.0100% / 8h	6h 51m	$226.8M	$609.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.188%Rate

Funding earned: $0
Price spread: −0.188% → −0.525%: $33.69
Slippage, 4 orders: −$8.53
Fee Backpack: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: $5.15
Costs to cover: 0.285%
Break-even: from the start

Slippage from Backpack: live order book, 3 min ago; Binance: live order book, 8 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, 3 min ago	0.06 bp	5.7 bp −$6	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 8 min ago	1.10 bp	7.8 bp −$8	13.7 bp −$137	45.2 bp −$4,524	168.7 bp −$84.3K

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
ApeX Omni UNIUSDT	−0.0157%	1h	9.0000	−0.021%	$88K	$707K	50x	as long as short
dYdX UNI-USD	0.0000%	1h	8.9787	−0.258%	$236K	$29K	10x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0004%	1h	8.9840	−0.199%	$37K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−1.910%	$660	$154K	12x	as long as short
01 Exchange UNIUSD	+0.0064%	1h	8.9829	−0.211%	$448	—	10x	as long as short
Nado UNI-PERP	+0.0100%	1h	8.9772	−0.274%	$930K	$4.3M	10x	as long as short
Hyperliquid UNI	+0.0100%	1h	8.9875	−0.160%	$98.2M	$59.4M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.9887	−0.147%	$1.0M	$2.9M	50x	as long as short
Pacifica UNI	+0.0100%	1h	8.9804	−0.238%	$296K	$581K	10x	as long as short
Binance UNIUSDTshort	+0.0100%	8h	8.9850	−0.188%	$226.8M	$609.0M	75x

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit UNIUSDT	+0.0100%	8h	8.9820	−0.221%	$100.9M	$108.2M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	8.9850	−0.188%	$55.4M	$253.6M	50x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.9900	−0.132%	$275K	$616K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.9810	−0.232%	$22.9M	$57.8M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.9840	−0.199%	$49.8M	$24.9M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.9830	−0.210%	$13.3M	$13.8M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.9830	−0.210%	$32.9M	$43.4M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	8.9810	−0.232%	—	$6.5M	—	as long as short
Backpack UNI_USDC_PERPlong	+0.0100%	1h	9.0019	long leg	$987K	$2.4M	10x
Variational Omni UNI	+0.0100%	8h	8.9791	−0.253%	$4.1M	$4.4M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.9948	−0.079%	$169K	$344K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.9984	−0.039%	$635K	$2.6M	10x	as long as short
StandX UNI-USD	+0.0100%	1h	9.0000	−0.021%	$55K	$3.3M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.9814	−0.228%	$85K	$407K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.9840	−0.199%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.9919	−0.111%	$36K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.9850	−0.188%	$21K	$713K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.9877	−0.158%	$711K	$4.2M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.9900	−0.132%	$27.1M	$4.6M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.9739	−0.311%	$26K	—	20x	as long as short
Extended UNI-USD	+0.0104%	1h	8.9813	−0.228%	$300K	$1.5M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.9857	−0.180%	$32K	—	3x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0171%	1h	8.9893	−0.139%	$581K	$186K	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.9770	−0.277%	$10.4M	$3.6M	75x	as long as short
Coinbase International UNI-PERP-INTX	+0.0312%	1h	8.9840	−0.199%	$1.1M	$4.8M	50x	as long as short
Reya UNIRUSDPERP	+0.0367%	1h	8.9755	−0.293%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0382% / S −0.0245%	1h	8.9850	−0.188%	$641K	—	120x	as long as short
Kraken Futures PF_UNIUSD	+0.0427%	1h	8.9888	−0.145%	$5.0M	$7.0M	50x	as long as short
Lighter UNI	+0.0512%	1h	9.0013	−0.007%	$4.6M	$5.1M	15x	as long as short
Aftermath Perps UNIUSD	+0.1041%	1h	9.0244	+0.250%	$989	$48K	10x	as long as short