Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.011%

Price spread now: Deribit against BingX+0.062%7-day average +0.076% · you sell dearer than you buy

Net, funding: paid 7d − costs−$52as in the Funding arb table

Net, price: spread back to 7d avg − costs−$52as in the Price arb table

costs, in and out, $10k−$500.503% of the position

Long on BingX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.016%−$2 on $10k

Price spread, last 3 days (all we have)+0.151%+$15 · spread now +0.062%, 7d avg +0.076%

Together, before fees+0.135%+$13 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.076%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX UNI-USDT	8.7990	0.0100	pay 0.0100% / 8h	2h 56m	—	$49.9M	—
Short	Deribit UNI_USDC-PERPETUAL	8.8044	0	get 0.0000% / 1h	56m 44s	$550K	$129K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.062%Rate

Funding earned: −$21
Price spread: +0.062% → +0.076%: −$1.46
Slippage, 4 orders: −$33.3
Fee BingX: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$72.76
Costs to cover: 0.503%
Break-even: never at this rate

Slippage from BingX: live order book, 12 min ago; Deribit: live order book, 32 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, 12 min ago	1.14 bp	6.1 bp −$6	7.9 bp −$79	14.2 bp −$1,418	60.5 bp −$30.2K
Sell Deribit live order book, 32 min ago	5.99 bp	20.8 bp −$21	54.5 bp −$545	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	−0.0199%	8h	8.8256	+0.303%	$3.9M	$4.9M	—	as long as short
Bybit UNIUSDT	−0.0192%	8h	8.7990	0.000%	$102.5M	$104.5M	75x	as long as short
Deribit UNI_USDC-PERPETUALshort	0.0000%	1h	8.8044	+0.062%	$550K	$129K	50x
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0006%	1h	8.8027	+0.042%	$79K	—	150x	as long as short
OKX UNI-USDT-SWAP	+0.0011%	8h	8.7990	0.000%	$54.2M	$244.6M	50x	as long as short
01 Exchange UNIUSD	+0.0056%	1h	8.8045	+0.063%	$439	—	10x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.7988	−0.002%	$25K	—	20x	as long as short
Nado UNI-PERP	+0.0100%	1h	8.8010	+0.023%	$846K	$3.9M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.8142	+0.173%	$1.0M	$3.4M	50x	as long as short
Pacifica UNI	+0.0100%	1h	8.8079	+0.101%	$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	8.8066	+0.086%	$215.8M	$599.8M	75x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.8100	+0.125%	$272K	$605K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.8010	+0.023%	$22.8M	$58.8M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.8050	+0.068%	$42.8M	$24.4M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.8080	+0.102%	$13.7M	$13.8M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.7980	−0.011%	$31.9M	$41.0M	75x	as long as short
BingX UNI-USDTlong	+0.0100%	8h	8.7990	long leg	—	$49.9M	—
Backpack UNI_USDC_PERP	+0.0100%	1h	8.8063	+0.083%	$975K	$2.4M	10x	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.8154	+0.187%	$166K	$341K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.8050	+0.068%	$615K	$2.6M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.8190	+0.227%	$83K	$713K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.8110	+0.136%	$105K	$3.3M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.8091	+0.115%	$86K	$339K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.7990	0.000%	$15K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.8014	+0.027%	$36K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.7972	−0.020%	$28K	$672K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.8181	+0.217%	$707K	$4.2M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.8000	+0.011%	$26.5M	$4.3M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	8.7955	−0.039%	$307K	$1.4M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.8015	+0.028%	$31K	$1K	3x	as long as short
Coinbase International UNI-PERP-INTX	+0.0200%	1h	8.8110	+0.136%	$1.0M	$5.3M	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.8000	+0.011%	$9.8M	$3.3M	75x	as long as short
Kraken Futures PF_UNIUSD	+0.0270%	1h	8.8029	+0.044%	$4.9M	$7.2M	50x	as long as short
dYdX UNI-USD	+0.0310%	1h	8.8102	+0.127%	$244K	$5K	10x	as long as short
Reya UNIRUSDPERP	+0.0359%	1h	8.7986	−0.005%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0320%	1h	8.8009	+0.021%	$552K	—	120x	as long as short
Hyperliquid UNI	+0.0450%	1h	8.8202	+0.241%	$95.9M	$60.4M	10x	as long as short
Aftermath Perps UNIUSD	+0.0520%	1h	8.8131	+0.160%	$1K	$51K	10x	as long as short
Lighter UNI	+0.0536%	1h	8.8243	+0.288%	$4.5M	$5.3M	15x	as long as short
Injective UNI/USDC PERP	+0.2702%	1h	8.7900	−0.102%	$657	$97K	12x	as long as short