Funding arb · Price arb /

UNI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.003%

Price spread now: GRVT against Backpack+0.326%7-day average −0.509% · you sell dearer than you buy

Net, funding: paid 7d − costs−$41as in the Funding arb table

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

costs, in and out, $10k−$400.396% of the position

Long on Backpack Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.015%−$2 on $10k

Price spread, last 7 days−0.773%−$77 · spread now +0.326%, 7d avg −0.509%

Together, before fees−0.788%+ Points / potential airdropGRVT: Active · farm board−$79 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: GRVT is 0.835% dearer against Backpack than usual: you sell high and buy low, +$83 on $10k if it goes back to its 7-day average of −0.509%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack UNI_USDC_PERP	9.1976	0.0100	pay 0.0013% / 1h	21m 14s	$998K	$2.2M	10x
Short	GRVT UNI_USDT_Perp	9.2276	0.0100	get 0.0100% / 8h	5h 21m	$646K	$2.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.326%Rate

Funding earned: $0
Price spread: +0.326% → −0.509%: $83.5
Slippage, 4 orders: −$20.62
Fee Backpack: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: $43.88
Costs to cover: 0.396%
Break-even: from the start

Slippage from Backpack: live order book, 3 min ago; GRVT: 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, 3 min ago	0.05 bp	6.4 bp −$6	doesn't fit	doesn't fit	doesn't fit
Sell GRVT live order book, 2 min ago	4.34 bp	14.0 bp −$14	34.4 bp −$344	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
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0009%	1h	9.1947	−0.032%	$31K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−3.997%	$660	$154K	12x	as long as short
01 Exchange UNIUSD	+0.0048%	1h	9.1959	−0.018%	$459	$5	10x	as long as short
Nado UNI-PERP	+0.0100%	1h	9.1887	−0.096%	$964K	$4.3M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	9.1969	−0.008%	$1.0M	$2.9M	50x	as long as short
Pacifica UNI	+0.0100%	1h	9.1908	−0.074%	$300K	$567K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	9.1961	−0.016%	$228.7M	$610.6M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	9.1940	−0.039%	$103.4M	$108.2M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	9.1940	−0.039%	$56.9M	$255.4M	50x	as long as short
Arcus UNI-USD	+0.0100%	1h	9.2020	+0.048%	$292K	$614K	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate UNI_USDT	+0.0100%	8h	9.1960	−0.017%	$23.6M	$60.2M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	9.1900	−0.083%	$49.6M	$25.2M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	9.1980	+0.004%	$13.8M	$12.9M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	9.1930	−0.050%	$33.7M	$42.6M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	9.1940	−0.039%	—	$6.5M	—	as long as short
Backpack UNI_USDC_PERPlong	+0.0100%	1h	9.1976	long leg	$998K	$2.2M	10x
Variational Omni UNI	+0.0100%	8h	9.1366	−0.663%	$4.3M	$4.3M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	9.1440	−0.583%	$172K	$343K	20x	as long as short
GRVT UNI_USDT_Perpshort	+0.0100%	8h	9.2276	+0.326%	$646K	$2.6M	10x
ApeX Omni UNIUSDT	+0.0100%	1h	9.2060	+0.091%	$90K	$693K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	9.2040	+0.070%	$41K	$3.3M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	9.1949	−0.029%	$88K	$414K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	9.1960	−0.017%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	9.2001	+0.027%	$37K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	9.1957	−0.021%	$22K	$770K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	9.1989	+0.014%	$723K	$4.4M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	9.1960	−0.017%	$27.8M	$4.5M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	9.1928	−0.053%	$26K	—	20x	as long as short
Extended UNI-USD	+0.0104%	1h	9.1897	−0.086%	$306K	$1.5M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	9.1941	−0.038%	$33K	—	3x	as long as short
dYdX UNI-USD	+0.0123%	1h	9.1853	−0.134%	$242K	$30K	10x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0213%	1h	9.1998	+0.024%	$589K	$193K	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	9.1990	+0.015%	$10.5M	$3.6M	75x	as long as short
Kraken Futures PF_UNIUSD	+0.0267%	1h	9.2017	+0.045%	$5.1M	$7.5M	50x	as long as short
Coinbase International UNI-PERP-INTX	+0.0296%	1h	9.1980	+0.004%	$1.1M	$5.2M	50x	as long as short
Reya UNIRUSDPERP	+0.0370%	1h	9.1892	−0.092%	$17K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0244%	1h	9.1940	−0.039%	$655K	—	120x	as long as short
Hyperliquid UNI	+0.0539%	1h	9.2101	+0.136%	$100.1M	$60.0M	10x	as long as short
Lighter UNI	+0.0576%	1h	9.2092	+0.126%	$4.7M	$5.7M	15x	as long as short
Aftermath Perps UNIUSD	+0.0906%	1h	9.1714	−0.285%	$987	$47K	10x	as long as short