Funding arb · Price arb /

UNI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.003%

Price spread now: Bitget against Backpack−0.243%7-day average −0.516% · you buy dearer than you sell

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs−$6as in the Price arb table

costs, in and out, $10k−$340.337% of the position

Long on Backpack Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.064%−$6 on $10k

Price spread, last 7 days+0.252%+$25 · spread now −0.243%, 7d avg −0.516%

Together, before fees+0.189%+$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: Bitget is 0.272% dearer against Backpack than usual: you sell high and buy low, +$27 on $10k if it goes back to its 7-day average of −0.516%.

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 38s	$987K	$2.4M	10x
Short	Bitget UNIUSDT	8.9800	0.0100	get 0.0100% / 8h	6h 51m	$32.9M	$43.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.243%Rate

Funding earned: $0
Price spread: −0.243% → −0.516%: $27.25
Slippage, 4 orders: −$11.67
Fee Backpack: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$6.42
Costs to cover: 0.337%
Break-even: never at this rate

Slippage from Backpack: live order book, 2 min ago; Bitget: live order book, 2 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, 2 min ago	0.06 bp	5.7 bp −$6	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 2 min ago	1.67 bp	10.7 bp −$11	21.2 bp −$212	49.7 bp −$4,975	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
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	8.9968	−0.056%	$37K	—	150x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0019%	1h	9.0001	−0.020%	$582K	$186K	50x	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	9.0070	+0.057%	$937K	$4.3M	10x	as long as short
Hyperliquid UNI	+0.0100%	1h	8.9953	−0.073%	$98.3M	$59.4M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.9955	−0.071%	$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

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance UNIUSDT	+0.0100%	8h	8.9801	−0.242%	$226.7M	$608.9M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	8.9770	−0.277%	$100.8M	$108.2M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	8.9760	−0.288%	$55.4M	$253.3M	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	8.9760	−0.288%	$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	8.9790	−0.254%	$13.3M	$13.8M	75x	as long as short
Bitget UNIUSDTshort	+0.0100%	8h	8.9800	−0.243%	$32.9M	$43.4M	75x
BingX UNI-USDT	+0.0100%	8h	8.9840	−0.199%	—	$57.1M	—	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	8.9741	−0.309%	$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	9.0108	+0.099%	$86K	$407K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.9940	−0.088%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	9.0137	+0.131%	$37K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.9955	−0.071%	$21K	$713K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	9.0077	+0.064%	$714K	$4.2M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.9990	−0.032%	$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	8.9817	−0.224%	$300K	$1.5M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.9928	−0.101%	$32K	—	3x	as long as short
BloFin UNI-USDT	+0.0220%	8h	9.0050	+0.034%	$10.5M	$3.6M	75x	as long as short
Coinbase International UNI-PERP-INTX	+0.0312%	1h	9.0250	+0.257%	$1.1M	$4.8M	50x	as long as short
Reya UNIRUSDPERP	+0.0367%	1h	9.0008	−0.012%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0382% / S −0.0245%	1h	8.9980	−0.044%	$642K	—	120x	as long as short
Kraken Futures PF_UNIUSD	+0.0426%	1h	9.0029	+0.012%	$5.0M	$7.0M	50x	as long as short
Lighter UNI	+0.0512%	1h	8.9945	−0.082%	$4.6M	$5.1M	15x	as long as short
Aftermath Perps UNIUSD	+0.1050%	1h	9.0315	+0.329%	$990	$48K	10x	as long as short