Funding arb · Price arb /

UNI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0293%/8h= +32.1% APRpaid last 24h +0.035%

Price spread now: Arcus against Bybit+0.125%7-day average +0.145% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$360.356% of the position

Long on Bybit Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.046%+$5 on $10k

Price spread, last 4 days (all we have)+0.012%+$1 · spread now +0.125%, 7d avg +0.145%

Together, before fees+0.058%+$6 on $10k · with fees, hour by hour

Funding pays, the price is against you. Arcus is 0.020% cheaper against Bybit than usual: you would sell low and buy high (spread +0.125% now, against its 7-day average of +0.145%). If the spread goes back, that is −$2 on $10k: about 6 hours of funding at the current rate (+$9 a day). At the pace of the last 3 days (+0.046% in total) that is about 35 hours.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.046% in total (about 5.1% 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	Bybit UNIUSDT	8.8010	−0.0193	get 0.0193% / 8h	2h 51m	$102.5M	$103.9M	75x
Short	Arcus UNI-USD	8.8120	0.0100	get 0.0013% / 1h	51m 34s	$272K	$605K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Bybit. 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 BybitbpFee ArcusbpOrdersPrice spread, now +0.125%Rate

Funding earned: $61.57
Price spread: +0.125% → +0.145%: −$2.04
Slippage, 4 orders: −$20.07
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: $23.95
Costs to cover: 0.356%
Break-even: 4.3 days

Slippage from Bybit: live order book, 2 min ago; Arcus: live order book, 37 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 Bybit live order book, 2 min ago	0.57 bp	8.6 bp −$9	13.2 bp −$132	37.2 bp −$3,715	doesn't fit
Sell Arcus live order book, 37 min ago	5.65 bp	9.3 bp −$9	11.8 bp −$118	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	−0.0201%	8h	8.8015	+0.005%	$3.9M	$4.9M	—	as long as short
Bybit UNIUSDTlong	−0.0193%	8h	8.8010	long leg	$102.5M	$103.9M	75x
01 Exchange UNIUSD	−0.0064%	1h	8.8043	+0.037%	$439	—	10x	as long as short
Deribit UNI_USDC-PERPETUAL	0.0000%	1h	8.8223	+0.241%	$551K	$125K	50x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0006%	1h	8.8196	+0.211%	$79K	—	150x	as long as short
OKX UNI-USDT-SWAP	+0.0010%	8h	8.8000	−0.011%	$54.2M	$244.3M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.8051	+0.047%	$25K	—	20x	as long as short
Nado UNI-PERP	+0.0100%	1h	8.8065	+0.062%	$851K	$3.9M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.8156	+0.166%	$1.0M	$3.4M	50x	as long as short
Pacifica UNI	+0.0100%	1h	8.8060	+0.057%	$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	8.8045	+0.040%	$215.7M	$593.7M	75x	as long as short
Arcus UNI-USDshort	+0.0100%	1h	8.8120	+0.125%	$272K	$605K	10x
Gate UNI_USDT	+0.0100%	8h	8.8050	+0.045%	$22.9M	$58.9M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.8060	+0.057%	$42.6M	$24.4M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.8080	+0.080%	$13.7M	$13.6M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.8010	0.000%	$31.9M	$41.0M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	8.8000	−0.011%	—	$6.5M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	8.8172	+0.184%	$976K	$2.4M	10x	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.8265	+0.290%	$166K	$342K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.8310	+0.341%	$619K	$2.6M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.8040	+0.034%	$83K	$713K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.8250	+0.273%	$105K	$3.3M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.8168	+0.180%	$87K	$336K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.8170	+0.182%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.8188	+0.202%	$36K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.8150	+0.159%	$28K	$659K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.8250	+0.273%	$721K	$4.3M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.8180	+0.193%	$26.6M	$4.3M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	8.8012	+0.003%	$307K	$1.4M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.8223	+0.242%	$31K	$1K	3x	as long as short
Coinbase International UNI-PERP-INTX	+0.0200%	1h	8.8280	+0.307%	$1.0M	$5.3M	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.8190	+0.205%	$9.8M	$3.3M	75x	as long as short
dYdX UNI-USD	+0.0231%	1h	8.8100	+0.102%	$244K	$5K	10x	as long as short
Kraken Futures PF_UNIUSD	+0.0270%	1h	8.8216	+0.234%	$4.9M	$7.1M	50x	as long as short
Reya UNIRUSDPERP	+0.0359%	1h	8.8121	+0.126%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0380% / S −0.0320%	1h	8.8209	+0.227%	$553K	—	120x	as long as short
Lighter UNI	+0.0408%	1h	8.8257	+0.281%	$4.5M	$5.3M	15x	as long as short
Hyperliquid UNI	+0.0411%	1h	8.8205	+0.222%	$95.7M	$59.6M	10x	as long as short
Aftermath Perps UNIUSD	+0.0504%	1h	8.8218	+0.236%	$1K	$50K	10x	as long as short
Injective UNI/USDC PERP	+0.2702%	1h	8.7900	−0.125%	$657	$97K	12x	as long as short