UNI

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0170%/8h= +18.6% APRnext payment +$0.21 per $10,000 · paid last 24h +0.017%

Price spread now: Kraken Futures against Backpack−0.033%7-day average +0.016% · you buy dearer than you sell

Net, funding: paid 7d − costs−$28as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$410.406% of the position

Long on Backpack Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.122%+$12 on $10k

Price spread, last 3 days (all we have)+0.790%+$79 · spread now −0.033%, 7d avg +0.016%

Together, before fees+0.912%+$91 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.049% cheaper against Backpack than usual: you would sell low and buy high (spread −0.033% now, against its 7-day average of +0.016%). If the spread goes back, that is −$5 on $10k: about 23 hours of funding at the current rate (+$5 a day). At the pace of the last 7 days (+0.122% in total) that is about 2.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack UNI_USDC_PERP	8.8087	0.0100	pay 0.0013% / 1h	50m 29s	$975K	$2.4M	10x
Short	Kraken Futures PF_UNIUSD	8.8058	0.0270	get 0.0034% / 1h	50m 29s	$4.9M	$7.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.033%Rate

Funding earned: $35.74
Price spread: −0.033% → +0.016%: −$4.89
Slippage, 4 orders: −$20.61
Fee Backpack: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$9.75
Costs to cover: 0.406%
Break-even: 8.9 days

Slippage from Backpack: live order book, 4 min ago; Kraken Futures: live order book, 3 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	0.68 bp	6.1 bp −$6	100.3 bp −$1,003	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 3 min ago	3.40 bp	13.8 bp −$14	15.0 bp −$150	45.5 bp −$4,549	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
Variational Omni UNI	−0.0200%	8h	8.7965	−0.138%	$3.9M	$4.6M	—	as long as short
Bybit UNIUSDT	−0.0192%	8h	8.8020	−0.076%	$102.5M	$103.9M	75x	as long as short
01 Exchange UNIUSD	−0.0056%	1h	8.8162	+0.085%	$440	—	10x	as long as short
Deribit UNI_USDC-PERPETUAL	0.0000%	1h	8.8074	−0.014%	$550K	$125K	50x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0006%	1h	8.8131	+0.050%	$79K	—	150x	as long as short
OKX UNI-USDT-SWAP	+0.0008%	8h	8.8040	−0.053%	$54.3M	$244.4M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.8133	+0.052%	$25K	—	20x	as long as short
Nado UNI-PERP	+0.0100%	1h	8.8102	+0.018%	$848K	$3.9M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.8182	+0.108%	$1.0M	$3.4M	50x	as long as short
Pacifica UNI	+0.0100%	1h	8.8143	+0.064%	$297K	$559K	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	8.8069	−0.020%	$215.7M	$593.6M	75x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.8210	+0.140%	$272K	$605K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.8060	−0.031%	$22.9M	$58.9M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.8150	+0.072%	$42.7M	$24.4M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.8110	+0.026%	$13.7M	$13.6M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.8110	+0.026%	$31.9M	$41.0M	75x	as long as short
BingX UNI-USDT	+0.0100%	8h	8.8050	−0.042%	—	$49.8M	—	as long as short
Backpack UNI_USDC_PERPlong	+0.0100%	1h	8.8087	long leg	$975K	$2.4M	10x
edgeX UNIUSDC	+0.0100%	4h	8.8216	+0.146%	$166K	$343K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.8310	+0.253%	$619K	$2.6M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.8260	+0.196%	$83K	$713K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.8060	−0.031%	$105K	$3.2M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.8146	+0.067%	$87K	$324K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.8060	−0.031%	$15K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.8075	−0.014%	$36K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.7990	−0.110%	$28K	$659K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.8240	+0.174%	$721K	$4.3M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.8070	−0.019%	$26.5M	$4.3M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	8.8095	+0.010%	$307K	$1.4M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.8109	+0.025%	$31K	$1K	3x	as long as short
Coinbase International UNI-PERP-INTX	+0.0200%	1h	8.8280	+0.219%	$1.0M	$5.3M	50x	as long as short
dYdX UNI-USD	+0.0205%	1h	8.8150	+0.072%	$244K	$5K	10x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.8060	−0.031%	$9.8M	$3.3M	75x	as long as short
Kraken Futures PF_UNIUSDshort	+0.0270%	1h	8.8058	−0.033%	$4.9M	$7.1M	50x
Reya UNIRUSDPERP	+0.0359%	1h	8.8097	+0.011%	$16K	—	20x	as long as short
Hyperliquid UNI	+0.0378%	1h	8.8255	+0.191%	$95.8M	$59.6M	10x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0380% / S −0.0320%	1h	8.8108	+0.024%	$552K	—	120x	as long as short
Lighter UNI	+0.0472%	1h	8.8301	+0.243%	$4.5M	$5.3M	15x	as long as short
Aftermath Perps UNIUSD	+0.0484%	1h	8.8179	+0.105%	$1K	$50K	10x	as long as short
Injective UNI/USDC PERP	+0.2702%	1h	8.7900	−0.212%	$657	$97K	12x	as long as short