Funding arb · Price arb /

UNI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.013%

Price spread now: KuCoin against Backpack+0.093%7-day average −0.493% · you sell dearer than you buy

Net, funding: paid 7d − costs−$55as in the Funding arb table

Net, price: spread back to 7d avg − costs+$9as in the Price arb table

costs, in and out, $10k−$500.497% of the position

Long on Backpack Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.055%−$5 on $10k

Price spread, last 7 days−0.638%−$64 · spread now +0.093%, 7d avg −0.493%

Together, before fees−0.693%−$69 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: KuCoin is 0.586% dearer against Backpack than usual: you sell high and buy low, +$59 on $10k if it goes back to its 7-day average of −0.493%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack UNI_USDC_PERP	8.8258	0.0100	pay 0.0013% / 1h	47m 17s	$977K	$2.4M	10x
Short	KuCoin UNIUSDTM	8.8340	0.0100	get 0.0100% / 8h	2h 47m	$13.8M	$13.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.093%Rate

Funding earned: $0
Price spread: +0.093% → −0.493%: $58.6
Slippage, 4 orders: −$27.7
Fee Backpack: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $8.9
Costs to cover: 0.497%
Break-even: from the start

Slippage from Backpack: live order book, 2 min ago; KuCoin: live order book, 1 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	6.1 bp −$6	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 1 min ago	0.57 bp	15.7 bp −$16	20.0 bp −$200	60.2 bp −$6,023	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	−0.331%	$3.9M	$4.6M	—	as long as short
Bybit UNIUSDT	−0.0187%	8h	8.8280	+0.025%	$102.8M	$103.8M	75x	as long as short
01 Exchange UNIUSD	−0.0040%	1h	8.8343	+0.096%	$441	—	10x	as long as short
Deribit UNI_USDC-PERPETUAL	0.0000%	1h	8.8400	+0.161%	$552K	$125K	50x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0006%	1h	8.8386	+0.145%	$80K	—	150x	as long as short
OKX UNI-USDT-SWAP	+0.0007%	8h	8.8290	+0.036%	$54.4M	$244.9M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.8243	−0.018%	$25K	—	20x	as long as short
Nado UNI-PERP	+0.0100%	1h	8.8315	+0.065%	$849K	$3.9M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.8316	+0.066%	$1.0M	$3.4M	50x	as long as short
Pacifica UNI	+0.0100%	1h	8.8265	+0.008%	$296K	$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	8.8334	+0.086%	$216.4M	$593.0M	75x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.8380	+0.138%	$273K	$605K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.8320	+0.070%	$22.9M	$58.9M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.8330	+0.082%	$42.8M	$24.4M	200x	as long as short
KuCoin UNIUSDTMshort	+0.0100%	8h	8.8340	+0.093%	$13.8M	$13.6M	75x
Bitget UNIUSDT	+0.0100%	8h	8.8320	+0.070%	$31.9M	$41.0M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	8.8310	+0.059%	—	$6.5M	—	as long as short
Backpack UNI_USDC_PERPlong	+0.0100%	1h	8.8258	long leg	$977K	$2.4M	10x
edgeX UNIUSDC	+0.0100%	4h	8.8078	−0.204%	$166K	$343K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.8080	−0.202%	$613K	$2.6M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.8070	−0.213%	$83K	$713K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.8170	−0.100%	$105K	$3.2M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.8355	+0.110%	$87K	$324K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.8340	+0.093%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.8385	+0.144%	$36K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.8290	+0.036%	$28K	$659K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.8493	+0.266%	$723K	$4.3M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.8340	+0.093%	$26.6M	$4.4M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	8.8278	+0.022%	$306K	$1.4M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.8342	+0.096%	$31K	$1K	3x	as long as short
dYdX UNI-USD	+0.0154%	1h	8.8260	+0.002%	$244K	$5K	10x	as long as short
Coinbase International UNI-PERP-INTX	+0.0200%	1h	8.8390	+0.150%	$1.0M	$5.3M	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.8250	−0.009%	$9.8M	$3.3M	75x	as long as short
Kraken Futures PF_UNIUSD	+0.0269%	1h	8.8370	+0.127%	$4.9M	$7.1M	50x	as long as short
Hyperliquid UNI	+0.0351%	1h	8.8453	+0.221%	$96.0M	$59.7M	10x	as long as short
Reya UNIRUSDPERP	+0.0359%	1h	8.8327	+0.078%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0380% / S −0.0320%	1h	8.8377	+0.135%	$554K	—	120x	as long as short
Lighter UNI	+0.0448%	1h	8.8485	+0.257%	$4.5M	$5.3M	15x	as long as short
Aftermath Perps UNIUSD	+0.0469%	1h	8.8203	−0.062%	$1K	$50K	10x	as long as short
Injective UNI/USDC PERP	+0.2702%	1h	8.7900	−0.406%	$657	$97K	12x	as long as short