Funding arb · Price arb /

UNI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.029%

Price spread now: Bybit against Backpack+0.270%7-day average −0.584% · you sell dearer than you buy

Net, funding: paid 7d − costs−$45as in the Funding arb table

Net, price: spread back to 7d avg − costs+$49as in the Price arb table

costs, in and out, $10k−$360.362% of the position

Long on Backpack Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.084%−$8 on $10k

Price spread, last 7 days−0.292%−$29 · spread now +0.270%, 7d avg −0.584%

Together, before fees−0.376%−$38 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: Bybit is 0.854% dearer against Backpack than usual: you sell high and buy low, +$85 on $10k if it goes back to its 7-day average of −0.584%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack UNI_USDC_PERP	9.0037	0.0100	pay 0.0013% / 1h	34m 43s	$1.0M	$2.3M	10x
Short	Bybit UNIUSDT	9.0280	0.0100	get 0.0100% / 8h	3h 34m	$101.4M	$111.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.270%Rate

Funding earned: $0
Price spread: +0.270% → −0.584%: $85.39
Slippage, 4 orders: −$15.16
Fee Backpack: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $49.23
Costs to cover: 0.362%
Break-even: from the start

Slippage from Backpack: live order book, 4 min ago; Bybit: live order book, 4 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, 4 min ago	0.06 bp	5.6 bp −$6	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	0.56 bp	9.9 bp −$10	18.0 bp −$180	42.0 bp −$4,200	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
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0004%	1h	8.9929	−0.120%	$37K	—	150x	as long as short
01 Exchange UNIUSD	+0.0024%	1h	8.9778	−0.288%	$448	$5	10x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−1.929%	$660	$154K	12x	as long as short
Lighter UNI	+0.0096%	1h	9.0350	+0.348%	$4.6M	$5.9M	15x	as long as short
Nado UNI-PERP	+0.0100%	1h	8.9740	−0.330%	$981K	$4.5M	10x	as long as short
Hyperliquid UNI	+0.0100%	1h	9.0324	+0.319%	$96.3M	$63.9M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	9.0030	−0.008%	$796K	$3.6M	50x	as long as short
Pacifica UNI	+0.0100%	1h	9.0284	+0.275%	$292K	$607K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	9.0263	+0.251%	$222.6M	$645.8M	75x	as long as short
Bybit UNIUSDTshort	+0.0100%	8h	9.0280	+0.270%	$101.4M	$111.7M	75x

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX UNI-USDT-SWAP	+0.0100%	8h	9.0290	+0.281%	$55.1M	$262.9M	50x	as long as short
Arcus UNI-USD	+0.0100%	1h	9.0450	+0.459%	$316K	$653K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	9.0100	+0.070%	$23.9M	$63.8M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	9.0290	+0.281%	$47.4M	$25.6M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	9.0310	+0.303%	$13.3M	$13.3M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	9.0360	+0.359%	$33.5M	$45.5M	75x	as long as short
BingX UNI-USDT	+0.0100%	8h	9.0090	+0.059%	—	$56.6M	—	as long as short
Backpack UNI_USDC_PERPlong	+0.0100%	1h	9.0037	long leg	$1.0M	$2.3M	10x
Variational Omni UNI	+0.0100%	8h	8.9719	−0.353%	$4.2M	$4.1M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.9930	−0.119%	$170K	$345K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.9729	−0.342%	$623K	$2.8M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	9.0010	−0.030%	$92K	$703K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.9790	−0.274%	$15K	$3.4M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.9831	−0.229%	$86K	$434K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.9960	−0.086%	$16K	$1.4M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	9.0045	+0.009%	$37K	$1.4M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.9952	−0.094%	$29K	$817K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	9.0040	+0.003%	$704K	$4.9M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.9980	−0.063%	$27.2M	$4.4M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	9.0274	+0.264%	$26K	—	20x	as long as short
Extended UNI-USD	+0.0104%	1h	8.9961	−0.084%	$286K	$1.6M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.9744	−0.325%	$32K	—	3x	as long as short
Coinbase International UNI-PERP-INTX	+0.0216%	1h	8.9980	−0.063%	$940K	$5.8M	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.9970	−0.074%	$10.3M	$3.6M	75x	as long as short
Kraken Futures PF_UNIUSD	+0.0270%	1h	9.0021	−0.018%	$4.9M	$8.1M	50x	as long as short
dYdX UNI-USD	+0.0287%	1h	9.0284	+0.274%	$238K	$30K	10x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0338%	1h	9.0030	−0.008%	$577K	$208K	50x	as long as short
Reya UNIRUSDPERP	+0.0374%	1h	8.9820	−0.241%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0244%	1h	8.9866	−0.190%	$640K	—	120x	as long as short
Aftermath Perps UNIUSD	+0.0850%	1h	8.9893	−0.160%	$964	$45K	10x	as long as short