Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.003%

Price spread now: BingX against Backpack−0.054%7-day average −0.511% · you buy dearer than you sell

Net, funding: paid 7d − costs−$33as in the Funding arb table

Net, price: spread back to 7d avg − costs+$22as in the Price arb table

costs, in and out, $10k−$240.237% of the position

Long on Backpack Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.096%−$10 on $10k

Price spread, last 7 days−0.506%−$51 · spread now −0.054%, 7d avg −0.511%

Together, before fees−0.603%−$60 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: BingX is 0.456% dearer against Backpack than usual: you sell high and buy low, +$46 on $10k if it goes back to its 7-day average of −0.511%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack UNI_USDC_PERP	8.8498	0.0100	pay 0.0013% / 1h	39m 18s	$982K	$2.3M	10x
Short	BingX UNI-USDT	8.8450	0.0100	get 0.0100% / 8h	1h 39m	—	$52.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.054%Rate

Funding earned: $0
Price spread: −0.054% → −0.511%: $45.65
Slippage, 4 orders: −$3.69
Fee Backpack: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: $21.96
Costs to cover: 0.237%
Break-even: from the start

Slippage from Backpack: live order book, 5 min ago; BingX: live order book, 15 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, 5 min ago	0.57 bp	5.9 bp −$6	85.2 bp −$852	doesn't fit	doesn't fit
Sell BingX live order book, 15 min ago	0.57 bp	6.3 bp −$6	10.2 bp −$102	20.0 bp −$2,005	72.0 bp −$36.0K

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	−0.0078%	8h	8.8285	−0.241%	$3.9M	$4.6M	—	as long as short
Bybit UNIUSDT	−0.0027%	8h	8.8430	−0.077%	$100.9M	$104.5M	75x	as long as short
Deribit UNI_USDC-PERPETUAL	0.0000%	1h	8.8490	−0.009%	$563K	$157K	50x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0006%	1h	8.8468	−0.034%	$80K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.7900	−0.676%	$657	$96K	12x	as long as short
OKX UNI-USDT-SWAP	+0.0038%	8h	8.8440	−0.066%	$54.7M	$243.8M	50x	as long as short
01 Exchange UNIUSD	+0.0048%	1h	8.8504	+0.007%	$442	—	10x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.8442	−0.064%	$25K	—	20x	as long as short
Nado UNI-PERP	+0.0100%	1h	8.8475	−0.026%	$849K	$3.9M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.8538	+0.046%	$1.0M	$3.4M	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	8.8486	−0.014%	$297K	$570K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	8.8450	−0.054%	$217.2M	$588.4M	75x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.8500	+0.002%	$273K	$606K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.8490	−0.009%	$23.0M	$58.4M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.8450	−0.054%	$42.7M	$24.4M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.8490	−0.009%	$13.5M	$13.8M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.8410	−0.099%	$32.1M	$41.3M	75x	as long as short
BingX UNI-USDTshort	+0.0100%	8h	8.8450	−0.054%	—	$52.0M	—
Backpack UNI_USDC_PERPlong	+0.0100%	1h	8.8498	long leg	$982K	$2.3M	10x
edgeX UNIUSDC	+0.0100%	4h	8.8253	−0.277%	$166K	$342K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.8239	−0.293%	$612K	$2.5M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.8240	−0.292%	$87K	$714K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.8340	−0.179%	$105K	$3.2M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.8484	−0.016%	$87K	$351K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.8450	−0.054%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.8506	+0.009%	$36K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.8420	−0.088%	$25K	$666K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.8576	+0.088%	$727K	$4.3M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.8410	−0.099%	$26.6M	$4.5M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	8.8390	−0.122%	$300K	$1.4M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.8435	−0.071%	$31K	$1K	3x	as long as short
dYdX UNI-USD	+0.0125%	1h	8.8499	+0.001%	$245K	$6K	10x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.8400	−0.111%	$9.8M	$3.3M	75x	as long as short
Coinbase International UNI-PERP-INTX	+0.0224%	1h	8.8500	+0.002%	$1.0M	$5.3M	50x	as long as short
Hyperliquid UNI	+0.0338%	1h	8.8622	+0.140%	$96.9M	$59.1M	10x	as long as short
Kraken Futures PF_UNIUSD	+0.0342%	1h	8.8512	+0.015%	$4.9M	$7.0M	50x	as long as short
Reya UNIRUSDPERP	+0.0362%	1h	8.8465	−0.038%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0379% / S −0.0319%	1h	8.8467	−0.035%	$554K	—	120x	as long as short
Lighter UNI	+0.0584%	1h	8.8631	+0.150%	$4.5M	$5.2M	15x	as long as short
Aftermath Perps UNIUSD	+0.0618%	1h	8.8251	−0.279%	$1K	$49K	10x	as long as short