Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.008%

Price spread now: Deribit against Binance+0.127%7-day average +0.039% · you sell dearer than you buy

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$410.407% of the position

Long on Binance Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.058%−$6 on $10k

Price spread, last 3 days (all we have)+0.373%+$37 · spread now +0.127%, 7d avg +0.039%

Together, before fees+0.314%+$31 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.088% dearer against Binance than usual: you sell high and buy low (spread +0.127% now, against its 7-day average of +0.039%): +$9 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.9 days. At the pace of the last 7 days (−0.058% in total) that is about 11 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance UNIUSDT	8.8040	0.0100	pay 0.0100% / 8h	1h 53m	$215.8M	$597.6M	75x
Short	Deribit UNI_USDC-PERPETUAL	8.8152	0	get 0.0000% / 1h	53m 47s	$562K	$157K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Binance. 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 BinancebpFee DeribitbpOrdersPrice spread, now +0.127%Rate

Funding earned: −$21
Price spread: +0.127% → +0.039%: $8.82
Slippage, 4 orders: −$23.7
Fee Binance: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$52.88
Costs to cover: 0.407%
Break-even: never at this rate

Slippage from Binance: live order book, 5 min ago; Deribit: live order book, 30 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 Binance live order book, 5 min ago	0.57 bp	6.1 bp −$6	10.4 bp −$104	35.4 bp −$3,537	162.9 bp −$81.4K
Sell Deribit live order book, 30 min ago	8.70 bp	12.5 bp −$13	21.0 bp −$210	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
Variational Omni UNI	−0.0095%	8h	8.8058	+0.020%	$3.9M	$4.6M	—	as long as short
Bybit UNIUSDT	−0.0046%	8h	8.8000	−0.045%	$100.5M	$106.3M	75x	as long as short
dYdX UNI-USD	0.0000%	1h	8.8222	+0.207%	$244K	$6K	10x	as long as short
Deribit UNI_USDC-PERPETUALshort	0.0000%	1h	8.8152	+0.127%	$562K	$157K	50x
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0006%	1h	8.8136	+0.109%	$79K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.7900	−0.159%	$657	$96K	12x	as long as short
OKX UNI-USDT-SWAP	+0.0034%	8h	8.8030	−0.011%	$54.4M	$245.9M	50x	as long as short
01 Exchange UNIUSD	+0.0072%	1h	8.8211	+0.194%	$440	—	10x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.8150	+0.125%	$25K	—	20x	as long as short
Nado UNI-PERP	+0.0100%	1h	8.8172	+0.150%	$844K	$4.1M	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster UNIUSDT	+0.0100%	8h	8.8128	+0.100%	$1.0M	$3.4M	50x	as long as short
Pacifica UNI	+0.0100%	1h	8.8230	+0.216%	$298K	$575K	10x	as long as short
Binance UNIUSDTlong	+0.0100%	8h	8.8040	long leg	$215.8M	$597.6M	75x
Arcus UNI-USD	+0.0100%	1h	8.8280	+0.273%	$272K	$612K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.8050	+0.011%	$22.8M	$58.2M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.8050	+0.011%	$42.5M	$24.3M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.8020	−0.023%	$13.5M	$13.9M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.8010	−0.034%	$31.9M	$41.7M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	8.8030	−0.011%	—	$6.5M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	8.8086	+0.052%	$979K	$2.3M	10x	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.7781	−0.295%	$165K	$341K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.7949	−0.104%	$610K	$2.5M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.7880	−0.182%	$83K	$713K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.8300	+0.295%	$105K	$3.2M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.8148	+0.123%	$86K	$349K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.8090	+0.057%	$15K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.8153	+0.128%	$36K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.8096	+0.064%	$25K	$668K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.8240	+0.227%	$725K	$4.4M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.8080	+0.045%	$26.5M	$4.5M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	8.8003	−0.042%	$300K	$1.5M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.8125	+0.097%	$31K	$1K	3x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.8240	+0.227%	$9.8M	$3.4M	75x	as long as short
Coinbase International UNI-PERP-INTX	+0.0224%	1h	8.8260	+0.250%	$1.0M	$5.3M	50x	as long as short
Kraken Futures PF_UNIUSD	+0.0343%	1h	8.8178	+0.157%	$4.9M	$7.2M	50x	as long as short
Reya UNIRUSDPERP	+0.0361%	1h	8.8103	+0.071%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0379% / S −0.0320%	1h	8.8125	+0.096%	$553K	—	120x	as long as short
Hyperliquid UNI	+0.0446%	1h	8.8182	+0.161%	$96.5M	$59.6M	10x	as long as short
Aftermath Perps UNIUSD	+0.0625%	1h	8.8093	+0.060%	$1K	$50K	10x	as long as short
Lighter UNI	+0.0664%	1h	8.8260	+0.250%	$4.5M	$5.2M	15x	as long as short