Funding arb · Price arb /

UNI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.007%

Price spread now: MEXC against Backpack−0.001%7-day average −0.500% · you buy dearer than you sell

Net, funding: paid 7d − costs−$27as in the Funding arb table

Net, price: spread back to 7d avg − costs+$29as in the Price arb table

costs, in and out, $10k−$210.212% of the position

Long on Backpack Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.053%−$5 on $10k

Price spread, last 7 days−0.822%−$82 · spread now −0.001%, 7d avg −0.500%

Together, before fees−0.875%−$88 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: MEXC is 0.499% dearer against Backpack than usual: you sell high and buy low, +$50 on $10k if it goes back to its 7-day average of −0.500%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack UNI_USDC_PERP	8.8171	0.0100	pay 0.0013% / 1h	6m 41s	$977K	$2.4M	10x
Short	MEXC UNI_USDT	8.8170	0.0100	get 0.0100% / 8h	3h 06m	$42.8M	$24.7M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.001%Rate

Funding earned: $0
Price spread: −0.001% → −0.500%: $49.88
Slippage, 4 orders: −$7.19
Fee Backpack: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: $28.69
Costs to cover: 0.212%
Break-even: from the start

Slippage from Backpack: live order book, 2 min ago; MEXC: 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	0.23 bp	7.5 bp −$8	181.7 bp −$1,817	doesn't fit	doesn't fit
Sell MEXC live order book, 2 min ago	0.57 bp	2.6 bp −$3	4.8 bp −$48	21.2 bp −$2,116	159.5 bp −$79.7K

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	−0.0198%	8h	8.7958	−0.241%	$3.9M	$4.9M	—	as long as short
Bybit UNIUSDT	−0.0191%	8h	8.8130	−0.047%	$102.7M	$105.5M	75x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0006%	1h	8.8158	−0.015%	$79K	—	150x	as long as short
OKX UNI-USDT-SWAP	+0.0009%	8h	8.8090	−0.092%	$54.4M	$246.7M	50x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0028%	1h	8.8195	+0.027%	$551K	$129K	50x	as long as short
01 Exchange UNIUSD	+0.0064%	1h	8.8148	−0.026%	$440	—	10x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.8150	−0.024%	$25K	—	20x	as long as short
Nado UNI-PERP	+0.0100%	1h	8.8078	−0.106%	$838K	$4.0M	10x	as long as short
Hyperliquid UNI	+0.0100%	1h	8.8309	+0.157%	$96.0M	$60.3M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.8164	−0.008%	$1.0M	$3.4M	50x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica UNI	+0.0100%	1h	8.8182	+0.012%	$297K	$561K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	8.8194	+0.027%	$216.2M	$599.9M	75x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.8170	−0.001%	$272K	$605K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.8170	−0.001%	$22.7M	$59.8M	75x	as long as short
MEXC UNI_USDTshort	+0.0100%	8h	8.8170	−0.001%	$42.8M	$24.7M	200x
KuCoin UNIUSDTM	+0.0100%	8h	8.8180	+0.010%	$13.7M	$13.8M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.8150	−0.024%	$31.9M	$41.3M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	8.8150	−0.024%	—	$6.5M	—	as long as short
Backpack UNI_USDC_PERPlong	+0.0100%	1h	8.8171	long leg	$977K	$2.4M	10x
edgeX UNIUSDC	+0.0100%	4h	8.8013	−0.179%	$165K	$342K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.7860	−0.353%	$620K	$2.6M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.8040	−0.149%	$83K	$727K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.7900	−0.307%	$104K	$3.3M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.8086	−0.096%	$88K	$336K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.8130	−0.047%	$15K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.8175	+0.005%	$36K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.8110	−0.069%	$28K	$672K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.8212	+0.047%	$700K	$4.2M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.8100	−0.081%	$26.5M	$4.4M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	8.8092	−0.090%	$308K	$1.4M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.8137	−0.039%	$31K	$1K	3x	as long as short
Coinbase International UNI-PERP-INTX	+0.0192%	1h	8.8130	−0.047%	$1.0M	$5.3M	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.8120	−0.058%	$9.8M	$3.3M	75x	as long as short
dYdX UNI-USD	+0.0259%	1h	8.8218	+0.053%	$244K	$5K	10x	as long as short
Kraken Futures PF_UNIUSD	+0.0318%	1h	8.8178	+0.008%	$4.9M	$7.3M	50x	as long as short
Reya UNIRUSDPERP	+0.0358%	1h	8.8042	−0.146%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0320%	1h	8.8156	−0.017%	$552K	—	120x	as long as short
Aftermath Perps UNIUSD	+0.0551%	1h	8.8127	−0.050%	$1K	$51K	10x	as long as short
Lighter UNI	+0.0664%	1h	8.8344	+0.196%	$4.5M	$5.4M	15x	as long as short
Injective UNI/USDC PERP	+0.4514%	1h	8.7900	−0.307%	$657	$97K	12x	as long as short