Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0836%/8h= +91.5% APRpaid last 24h +0.175%

Price spread now: Lighter against BingX+0.307%7-day average +0.132% · you sell dearer than you buy

Net, funding: paid 7d − costs+$15as in the Funding arb table

Net, price: spread back to 7d avg − costs−$6as in the Price arb table

costs, in and out, $10k−$240.237% of the position

Long on BingX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.384%+$38 on $10k

Price spread, last 7 days−0.139%−$14 · spread now +0.307%, 7d avg +0.132%

Together, before fees+0.245%+ Points / potential airdropLighter: Season 3 · farm board+$25 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$25 a day on $10k at the current rate, and Lighter is 0.175% dearer against BingX than usual: you sell high and buy low: +$18 more if the spread goes back to its 7-day average of +0.132%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.384% in total (about 20.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX UNI-USDT	8.9820	0.0100	pay 0.0100% / 8h	30m 22s	—	$51.9M	—
Short	Lighter UNI	9.0096	0.0936	get 0.0117% / 1h	30m 22s	$4.6M	$5.2M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.307%Rate

Funding earned: $175.56
Price spread: +0.307% → +0.132%: $17.51
Slippage, 4 orders: −$13.69
Fee BingX: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: $169.38
Costs to cover: 0.237%
Break-even: 0.2 days

Slippage from BingX: live order book, 9 min ago; Lighter: live order book, 3 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, 9 min ago	0.55 bp	5.6 bp −$6	7.7 bp −$77	15.6 bp −$1,557	66.1 bp −$33.0K
Sell Lighter live order book, 3 min ago	1.38 bp	4.6 bp −$5	9.4 bp −$94	100.2 bp −$10.0K	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
Injective UNI/USDC PERP	−0.0049%	1h	8.8300	−1.692%	$660	$155K	12x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0004%	1h	8.9846	+0.029%	$62K	—	150x	as long as short
Variational Omni UNI	+0.0041%	8h	9.0035	+0.239%	$4.1M	$4.4M	—	as long as short
dYdX UNI-USD	+0.0057%	1h	8.9938	+0.131%	$249K	$6K	10x	as long as short
Bybit UNIUSDT	+0.0081%	8h	8.9810	−0.011%	$102.1M	$105.0M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0088%	8h	8.9810	−0.011%	$55.1M	$248.9M	50x	as long as short
Nado UNI-PERP	+0.0100%	1h	8.9875	+0.061%	$954K	$4.2M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.9886	+0.073%	$1.0M	$3.3M	50x	as long as short
Pacifica UNI	+0.0100%	1h	8.9925	+0.117%	$298K	$591K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	8.9825	+0.005%	$222.1M	$589.6M	75x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus UNI-USD	+0.0100%	1h	8.9950	+0.145%	$278K	$620K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.9820	0.000%	$23.0M	$58.7M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.9900	+0.089%	$43.7M	$24.0M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.9880	+0.067%	$13.6M	$13.5M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.9840	+0.022%	$32.8M	$42.0M	75x	as long as short
BingX UNI-USDTlong	+0.0100%	8h	8.9820	long leg	—	$51.9M	—
Backpack UNI_USDC_PERP	+0.0100%	1h	9.0064	+0.272%	$1.0M	$2.4M	10x	as long as short
edgeX UNIUSDC	+0.0100%	4h	9.0166	+0.385%	$169K	$344K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	9.0169	+0.389%	$637K	$2.5M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	9.0300	+0.534%	$89K	$712K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	9.0030	+0.234%	$36K	$3.3M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.9885	+0.072%	$86K	$361K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.9850	+0.033%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	9.0130	+0.345%	$37K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	9.0033	+0.237%	$25K	$674K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	9.0058	+0.265%	$735K	$4.3M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	9.0040	+0.245%	$27.2M	$4.5M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.9883	+0.071%	$26K	—	20x	as long as short
Extended UNI-USD	+0.0104%	1h	8.9840	+0.022%	$303K	$1.5M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	9.0027	+0.231%	$32K	$1K	3x	as long as short
01 Exchange UNIUSD	+0.0184%	1h	8.9899	+0.088%	$449	—	10x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0189%	1h	9.0078	+0.287%	$580K	$176K	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.9970	+0.167%	$10.1M	$3.5M	75x	as long as short
Coinbase International UNI-PERP-INTX	+0.0232%	1h	9.0110	+0.323%	$1.1M	$5.4M	50x	as long as short
Reya UNIRUSDPERP	+0.0364%	1h	8.9846	+0.029%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0380% / S −0.0320%	1h	8.9835	+0.017%	$565K	—	120x	as long as short
Hyperliquid UNI	+0.0561%	1h	8.9993	+0.193%	$98.7M	$59.0M	10x	as long as short
Kraken Futures PF_UNIUSD	+0.0562%	1h	9.0086	+0.296%	$5.0M	$7.0M	50x	as long as short
Aftermath Perps UNIUSD	+0.0804%	1h	9.0162	+0.381%	$1K	$49K	10x	as long as short
Lighter UNIshort	+0.0936%	1h	9.0096	+0.307%	$4.6M	$5.2M	15x