Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.003%

Price spread now: Backpack against BingX+0.067%7-day average +0.493% · you sell dearer than you buy

Net, funding: paid 7d − costs−$19as in the Funding arb table

Net, price: spread back to 7d avg − costs−$71as in the Price arb table

costs, in and out, $10k−$290.286% of the position

Long on BingX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.094%+$9 on $10k

Price spread, last 7 days+0.304%+$30 · spread now +0.067%, 7d avg +0.493%

Together, before fees+0.398%+$40 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: Backpack is 0.427% cheaper against BingX than usual: you would sell low and buy high, −$43 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	BingX UNI-USDT	9.0180	0.0100	pay 0.0100% / 8h	3h 34m	—	$56.6M	—
Short	Backpack UNI_USDC_PERP	9.0240	0.0100	get 0.0013% / 1h	34m 07s	$1.0M	$2.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against BingX. 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 BingXbpFee BackpackbpOrdersPrice spread, now +0.067%Rate

Funding earned: $0
Price spread: +0.067% → +0.493%: −$42.66
Slippage, 4 orders: −$8.59
Fee BingX: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$71.25
Costs to cover: 0.286%
Break-even: never at this rate

Slippage from BingX: live order book, 5 min ago; Backpack: live order book, 5 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 BingX live order book, 5 min ago	0.56 bp	5.6 bp −$6	7.2 bp −$72	17.1 bp −$1,705	68.4 bp −$34.2K
Sell Backpack live order book, 5 min ago	0.06 bp	11.0 bp −$11	457.8 bp −$4,578	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 −0.0004%	1h	9.0193	+0.014%	$37K	—	150x	as long as short
01 Exchange UNIUSD	+0.0024%	1h	9.0371	+0.212%	$451	$5	10x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−2.085%	$660	$154K	12x	as long as short
Lighter UNI	+0.0096%	1h	9.0291	+0.123%	$4.6M	$5.9M	15x	as long as short
Nado UNI-PERP	+0.0100%	1h	9.0230	+0.055%	$984K	$4.5M	10x	as long as short
Hyperliquid UNI	+0.0100%	1h	9.0254	+0.082%	$96.2M	$63.9M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	9.0313	+0.148%	$798K	$3.6M	50x	as long as short
Pacifica UNI	+0.0100%	1h	9.0284	+0.116%	$292K	$607K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	9.0181	+0.001%	$222.4M	$646.0M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	9.0150	−0.033%	$101.2M	$111.8M	75x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX UNI-USDT-SWAP	+0.0100%	8h	9.0140	−0.044%	$55.1M	$262.7M	50x	as long as short
Arcus UNI-USD	+0.0100%	1h	9.0450	+0.299%	$316K	$653K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	9.0160	−0.022%	$23.9M	$63.8M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	9.0210	+0.033%	$48.4M	$25.6M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	9.0180	0.000%	$13.3M	$13.3M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	9.0150	−0.033%	$33.4M	$45.5M	75x	as long as short
BingX UNI-USDTlong	+0.0100%	8h	9.0180	long leg	—	$56.6M	—
Backpack UNI_USDC_PERPshort	+0.0100%	1h	9.0240	+0.067%	$1.0M	$2.3M	10x
Variational Omni UNI	+0.0100%	8h	8.9719	−0.511%	$4.2M	$4.1M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.9930	−0.278%	$170K	$345K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.9729	−0.500%	$623K	$2.8M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	9.0010	−0.189%	$92K	$703K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.9800	−0.421%	$15K	$3.4M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	9.0349	+0.187%	$86K	$434K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	9.0150	−0.033%	$16K	$1.4M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	9.0455	+0.305%	$37K	$1.4M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	9.0140	−0.044%	$30K	$817K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	9.0400	+0.244%	$707K	$4.9M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	9.0210	+0.033%	$27.3M	$4.4M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	9.0274	+0.105%	$26K	—	20x	as long as short
Extended UNI-USD	+0.0104%	1h	9.0101	−0.087%	$288K	$1.6M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.9870	−0.343%	$32K	—	3x	as long as short
Coinbase International UNI-PERP-INTX	+0.0216%	1h	9.0230	+0.055%	$943K	$5.8M	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.9970	−0.233%	$10.3M	$3.6M	75x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0225%	1h	9.0235	+0.060%	$578K	$208K	50x	as long as short
Kraken Futures PF_UNIUSD	+0.0270%	1h	9.0210	+0.034%	$5.0M	$8.1M	50x	as long as short
dYdX UNI-USD	+0.0287%	1h	9.0284	+0.115%	$238K	$30K	10x	as long as short
Reya UNIRUSDPERP	+0.0374%	1h	9.0200	+0.022%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0244%	1h	9.0202	+0.024%	$643K	—	120x	as long as short
Aftermath Perps UNIUSD	+0.0830%	1h	8.9946	−0.260%	$965	$45K	10x	as long as short