Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Phemex against BingX+0.181%51s7-day average +0.054% · you sell dearer than you buy

Net, funding: paid 7d − costs−$63as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$690.689% of the position

Long on BingX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.062%+$6 on $10k

Price spread, last 3 days (all we have)+0.574%+$57 · spread now +0.181%, 7d avg +0.054%

Together, before fees+0.635%+$64 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: Phemex is 0.127% dearer against BingX than usual: you sell high and buy low, +$13 on $10k if it goes back to its 7-day average of +0.054%. The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX UNI-USDC	8.8350	0.0100	pay 0.0100% / 8h	2h 36m	—	$6.5M	—
Short	Phemex UNIUSDT	8.8510	0.0100	get 0.0100% / 8h	2h 36m	$26.7M	$4.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.181%Rate

Funding earned: $0
Price spread: +0.181% → +0.054%: $12.74
Slippage, 4 orders: −$46.95
Fee BingX: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$56.21
Costs to cover: 0.689%
Break-even: never at this rate

Slippage from BingX: live order book, 5 min ago; Phemex: 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, 5 min ago	1.13 bp	12.8 bp −$13	26.0 bp −$260	79.7 bp −$7,967	645.2 bp −$322.6K
Sell Phemex live order book, 3 min ago	8.49 bp	21.8 bp −$22	38.5 bp −$385	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	−0.0193%	8h	8.8610	+0.295%	$3.9M	$4.6M	—	as long as short
Bybit UNIUSDT	−0.0162%	8h	8.8330	−0.023%	$102.1M	$104.4M	75x	as long as short
01 Exchange UNIUSD	−0.0008%	1h	8.8405	+0.062%	$441	—	10x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0006%	1h	8.8392	+0.048%	$80K	—	150x	as long as short
OKX UNI-USDT-SWAP	+0.0013%	8h	8.8350	0.000%	$54.3M	$245.1M	50x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0024%	1h	8.8585	+0.266%	$553K	$125K	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.8283	−0.076%	$25K	—	20x	as long as short
Nado UNI-PERP	+0.0100%	1h	8.8287	−0.071%	$853K	$3.9M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.8350	+0.001%	$1.0M	$3.4M	50x	as long as short
Pacifica UNI	+0.0100%	1h	8.8330	−0.023%	$295K	$561K	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	8.8365	+0.017%	$216.2M	$593.5M	75x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.8390	+0.045%	$272K	$612K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.8350	0.000%	$22.9M	$59.0M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.8360	+0.011%	$42.7M	$24.5M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.8350	0.000%	$13.8M	$13.7M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.8320	−0.034%	$31.9M	$41.0M	75x	as long as short
BingX UNI-USDClong	+0.0100%	8h	8.8350	long leg	—	$6.5M	—
Backpack UNI_USDC_PERP	+0.0100%	1h	8.8533	+0.207%	$983K	$2.3M	10x	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.8350	0.000%	$166K	$342K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.8604	+0.288%	$625K	$2.6M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.8660	+0.351%	$84K	$711K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.8490	+0.158%	$105K	$3.2M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.8384	+0.038%	$87K	$323K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.8350	0.000%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.8445	+0.108%	$36K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.8478	+0.145%	$25K	$661K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.8600	+0.283%	$723K	$4.3M	75x	as long as short
Phemex UNIUSDTshort	+0.0100%	8h	8.8510	+0.181%	$26.7M	$4.3M	50x
Extended UNI-USD	+0.0104%	1h	8.8276	−0.084%	$298K	$1.4M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.8531	+0.205%	$31K	$1K	3x	as long as short
dYdX UNI-USD	+0.0113%	1h	8.8356	+0.007%	$245K	$5K	10x	as long as short
Coinbase International UNI-PERP-INTX	+0.0200%	1h	8.8540	+0.215%	$1.0M	$5.3M	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.8520	+0.192%	$9.8M	$3.3M	75x	as long as short
Kraken Futures PF_UNIUSD	+0.0269%	1h	8.8549	+0.225%	$4.9M	$7.1M	50x	as long as short
Hyperliquid UNI	+0.0329%	1h	8.8465	+0.130%	$96.2M	$59.8M	10x	as long as short
Reya UNIRUSDPERP	+0.0360%	1h	8.8349	−0.001%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0379% / S −0.0320%	1h	8.8385	+0.040%	$554K	—	120x	as long as short
Aftermath Perps UNIUSD	+0.0462%	1h	8.8443	+0.105%	$1K	$50K	10x	as long as short
Lighter UNI	+0.0528%	1h	8.8490	+0.158%	$4.5M	$5.4M	15x	as long as short
Injective UNI/USDC PERP	+0.2702%	1h	8.7900	−0.509%	$657	$97K	12x	as long as short