Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h +0.170%

Price spread now: Injective against BingX−1.638%7-day average +0.291% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on BingX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.454%−$45 on $10k

Price spread, last 3 days (all we have)+1.798%+$180 · spread now −1.638%, 7d avg +0.291%

Together, before fees+1.344%+$134 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 1.928% cheaper against BingX than usual: you would sell low and buy high (−$193 if the spread goes back to its 7-day average of +0.291%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX UNI-USDT	8.9770	0.0100	pay 0.0100% / 8h	6h 54m	—	$57.0M	—
Short	Injective UNI/USDC PERP	8.8300	0.0033	get 0.0004% / 1h	54m 27s	$660	$154K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against BingX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 InjectivebpOrdersPrice spread, now −1.638%Rate

Funding earned: −$14
Price spread: −1.638% → +0.291%: −$192.81
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$216.83
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: BingX: live order book, 14 min ago; Injective: no order-book sample. Net counts fees only.

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, 14 min ago	0.55 bp	5.5 bp −$6	5.5 bp −$55	14.8 bp −$1,480	66.1 bp −$33.1K
Sell Injective no order-book sample	—	—	—	—	—

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
ApeX Omni UNIUSDT	−0.0116%	1h	9.0670	+1.003%	$89K	$706K	50x	as long as short
Deribit UNI_USDC-PERPETUAL	0.0000%	1h	8.9798	+0.031%	$580K	$186K	50x	as long as short
dYdX UNI-USD	+0.0001%	1h	8.9886	+0.129%	$237K	$29K	10x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0004%	1h	8.9827	+0.063%	$37K	—	150x	as long as short
Injective UNI/USDC PERPshort	+0.0033%	1h	8.8300	−1.638%	$660	$154K	12x
01 Exchange UNIUSD	+0.0072%	1h	8.9710	−0.067%	$448	—	10x	as long as short
Nado UNI-PERP	+0.0100%	1h	8.9750	−0.022%	$937K	$4.3M	10x	as long as short
Hyperliquid UNI	+0.0100%	1h	8.9889	+0.133%	$98.2M	$59.0M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.9918	+0.165%	$1.0M	$2.9M	50x	as long as short
Pacifica UNI	+0.0100%	1h	8.9899	+0.144%	$297K	$581K	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	8.9729	−0.046%	$226.5M	$606.1M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	8.9750	−0.022%	$101.0M	$108.0M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	8.9790	+0.022%	$55.5M	$253.2M	50x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.9870	+0.111%	$274K	$616K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.9760	−0.011%	$22.9M	$57.6M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.9830	+0.067%	$49.9M	$24.8M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.9900	+0.145%	$13.4M	$13.8M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.9760	−0.011%	$32.8M	$43.3M	75x	as long as short
BingX UNI-USDTlong	+0.0100%	8h	8.9770	long leg	—	$57.0M	—
Backpack UNI_USDC_PERP	+0.0100%	1h	8.9802	+0.036%	$990K	$2.4M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	8.9741	−0.032%	$4.1M	$4.4M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	9.0635	+0.964%	$171K	$343K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	9.0240	+0.524%	$626K	$2.6M	10x	as long as short
StandX UNI-USD	+0.0100%	1h	8.9830	+0.067%	$55K	$3.3M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.9833	+0.070%	$85K	$407K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.9770	0.000%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.9814	+0.049%	$36K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.9760	−0.011%	$21K	$713K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.9976	+0.229%	$714K	$4.2M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.9850	+0.089%	$27.1M	$4.6M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.9765	−0.006%	$26K	—	20x	as long as short
Extended UNI-USD	+0.0104%	1h	8.9729	−0.046%	$301K	$1.5M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.9783	+0.014%	$32K	—	3x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.9860	+0.100%	$10.4M	$3.6M	75x	as long as short
Coinbase International UNI-PERP-INTX	+0.0312%	1h	8.9920	+0.167%	$1.1M	$4.8M	50x	as long as short
Reya UNIRUSDPERP	+0.0367%	1h	8.9768	−0.002%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0244%	1h	8.9810	+0.045%	$641K	—	120x	as long as short
Kraken Futures PF_UNIUSD	+0.0427%	1h	8.9836	+0.074%	$5.0M	$7.0M	50x	as long as short
Lighter UNI	+0.0536%	1h	9.0084	+0.350%	$4.6M	$5.1M	15x	as long as short
Aftermath Perps UNIUSD	+0.1059%	1h	9.0602	+0.927%	$984	$49K	10x	as long as short