Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0184%/8h= +20.2% APRpaid last 24h +0.023%

Price spread now: Deribit against Bybit+0.107%7-day average +0.114% · you sell dearer than you buy

Net, funding: paid 7d − costs−$60as in the Funding arb table

Net, price: spread back to 7d avg − costs−$58as in the Price arb table

costs, in and out, $10k−$570.571% of the position

Long on Bybit Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.029%−$3 on $10k

Price spread, last 3 days (all we have)+0.444%+$44 · spread now +0.107%, 7d avg +0.114%

Together, before fees+0.415%+$42 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.114%, so right now this pair is about funding alone: +$6 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.029% in total (about -1.5% 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	8.8290	−0.0184	get 0.0184% / 8h	2h 44m	$102.7M	$103.9M	75x
Short	Deribit UNI_USDC-PERPETUAL	8.8385	0	get 0.0000% / 1h	44m 46s	$552K	$125K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.107%Rate

Funding earned: $38.65
Price spread: +0.107% → +0.114%: −$0.64
Slippage, 4 orders: −$39.1
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$19.08
Costs to cover: 0.571%
Break-even: 10.5 days

Slippage from Bybit: live order book, 4 min ago; Deribit: live order book, 44 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, 4 min ago	0.57 bp	10.6 bp −$11	18.6 bp −$186	42.6 bp −$4,262	doesn't fit
Sell Deribit live order book, 44 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	−0.0198%	8h	8.8235	−0.062%	$3.9M	$4.6M	—	as long as short
Bybit UNIUSDTlong	−0.0184%	8h	8.8290	long leg	$102.7M	$103.9M	75x
01 Exchange UNIUSD	−0.0040%	1h	8.8363	+0.083%	$441	—	10x	as long as short
Deribit UNI_USDC-PERPETUALshort	0.0000%	1h	8.8385	+0.107%	$552K	$125K	50x
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0006%	1h	8.8383	+0.105%	$80K	—	150x	as long as short
OKX UNI-USDT-SWAP	+0.0005%	8h	8.8310	+0.023%	$54.4M	$245.0M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.8291	+0.001%	$25K	—	20x	as long as short
Nado UNI-PERP	+0.0100%	1h	8.8252	−0.042%	$847K	$3.9M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.8402	+0.127%	$1.0M	$3.4M	50x	as long as short
Pacifica UNI	+0.0100%	1h	8.8303	+0.015%	$296K	$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	8.8320	+0.034%	$216.3M	$592.8M	75x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.8390	+0.113%	$273K	$610K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.8300	+0.011%	$22.9M	$59.0M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.8310	+0.023%	$42.8M	$24.5M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.8320	+0.034%	$13.8M	$13.6M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.8300	+0.011%	$31.9M	$41.0M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	8.8320	+0.034%	—	$6.5M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	8.8341	+0.058%	$977K	$2.4M	10x	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.8274	−0.018%	$166K	$344K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.8268	−0.025%	$614K	$2.6M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.8350	+0.068%	$83K	$711K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.8370	+0.091%	$105K	$3.2M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.8359	+0.078%	$87K	$324K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.8330	+0.045%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.8375	+0.096%	$36K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.8296	+0.007%	$28K	$659K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.8446	+0.177%	$721K	$4.3M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.8300	+0.011%	$26.6M	$4.4M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	8.8262	−0.032%	$299K	$1.4M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.8335	+0.051%	$31K	$1K	3x	as long as short
dYdX UNI-USD	+0.0132%	1h	8.8379	+0.101%	$245K	$5K	10x	as long as short
Coinbase International UNI-PERP-INTX	+0.0200%	1h	8.8480	+0.215%	$1.0M	$5.3M	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.8310	+0.023%	$9.8M	$3.3M	75x	as long as short
Kraken Futures PF_UNIUSD	+0.0269%	1h	8.8397	+0.121%	$4.9M	$7.1M	50x	as long as short
Hyperliquid UNI	+0.0344%	1h	8.8480	+0.215%	$96.2M	$59.8M	10x	as long as short
Reya UNIRUSDPERP	+0.0359%	1h	8.8309	+0.022%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0380% / S −0.0320%	1h	8.8375	+0.097%	$554K	—	120x	as long as short
Lighter UNI	+0.0464%	1h	8.8525	+0.266%	$4.5M	$5.3M	15x	as long as short
Aftermath Perps UNIUSD	+0.0466%	1h	8.8264	−0.030%	$1K	$50K	10x	as long as short
Injective UNI/USDC PERP	+0.2702%	1h	8.7900	−0.442%	$657	$97K	12x	as long as short