Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0040%/8h= −4.4% APRpaid last 24h +0.074%

Price spread now: dYdX against Bybit−0.069%7-day average +0.077% · you buy dearer than you sell

Net, funding: paid 7d − costs−$54as in the Funding arb table

Net, price: spread back to 7d avg − costs−$97as in the Price arb table

costs, in and out, $10k−$830.828% of the position

Long on Bybit Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.293%+$29 on $10k

Price spread, last 4 days (all we have)+0.215%+$21 · spread now −0.069%, 7d avg +0.077%

Together, before fees+0.508%+$51 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and dYdX is 0.147% cheaper against Bybit than usual: you would sell low and buy high (−$15 if the spread goes back to its 7-day average of +0.077%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.293%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit UNIUSDT	9.0280	0.0040	pay 0.0040% / 8h	54m 22s	$103.1M	$103.8M	75x
Short	dYdX UNI-USD	9.0217	0	get 0.0000% / 1h	54m 22s	$250K	$6K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now −0.069%Rate

Funding earned: −$8.48
Price spread: −0.069% → +0.077%: −$14.65
Slippage, 4 orders: −$61.8
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$105.92
Costs to cover: 0.828%
Break-even: never at this rate

Slippage from Bybit: live order book, 5 min ago; dYdX: live order book, 25 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, 5 min ago	0.56 bp	10.2 bp −$10	16.1 bp −$161	31.5 bp −$3,148	doesn't fit
Sell dYdX live order book, 25 min ago	27.53 bp	32.5 bp −$33	171.8 bp −$1,718	199.2 bp −$19.9K	413.8 bp −$206.9K

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	−2.193%	$660	$155K	12x	as long as short
Variational Omni UNI	−0.0010%	8h	9.0073	−0.229%	$4.0M	$4.4M	—	as long as short
dYdX UNI-USDshort	0.0000%	1h	9.0217	−0.069%	$250K	$6K	10x
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0004%	1h	9.0294	+0.015%	$63K	—	150x	as long as short
Bybit UNIUSDTlong	+0.0040%	8h	9.0280	long leg	$103.1M	$103.8M	75x
OKX UNI-USDT-SWAP	+0.0074%	8h	9.0280	0.000%	$55.7M	$248.2M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	9.0162	−0.130%	$26K	—	20x	as long as short
Nado UNI-PERP	+0.0100%	1h	9.0175	−0.116%	$956K	$4.1M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	9.0280	0.000%	$1.1M	$3.3M	50x	as long as short
Pacifica UNI	+0.0100%	1h	9.0240	−0.044%	$301K	$586K	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	9.0267	−0.014%	$222.5M	$585.1M	75x	as long as short
Arcus UNI-USD	+0.0100%	1h	9.0300	+0.022%	$279K	$619K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	9.0270	−0.011%	$23.2M	$57.6M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	9.0230	−0.055%	$43.5M	$23.6M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	9.0220	−0.066%	$13.7M	$13.5M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	9.0230	−0.055%	$32.8M	$41.3M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	9.0280	0.000%	—	$6.5M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	9.0073	−0.230%	$169K	$342K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	9.0062	−0.242%	$627K	$2.5M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	9.0130	−0.166%	$89K	$712K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	9.0300	+0.022%	$108K	$3.2M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	9.0286	+0.007%	$88K	$355K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	9.0310	+0.033%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	9.0391	+0.123%	$37K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	9.0350	+0.078%	$25K	$654K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	9.0442	+0.179%	$740K	$4.3M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	9.0350	+0.078%	$27.2M	$4.4M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	9.0178	−0.113%	$301K	$1.5M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	9.0340	+0.067%	$32K	$1K	3x	as long as short
Backpack UNI_USDC_PERP	+0.0188%	1h	9.0325	+0.050%	$1.0M	$2.3M	10x	as long as short
01 Exchange UNIUSD	+0.0216%	1h	9.0281	+0.001%	$451	—	10x	as long as short
BloFin UNI-USDT	+0.0220%	8h	9.0360	+0.089%	$10.0M	$3.4M	75x	as long as short
Coinbase International UNI-PERP-INTX	+0.0232%	1h	9.0390	+0.122%	$1.1M	$5.4M	50x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0285%	1h	9.0399	+0.132%	$582K	$173K	50x	as long as short
Reya UNIRUSDPERP	+0.0363%	1h	9.0195	−0.094%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0380% / S −0.0320%	1h	9.0277	−0.004%	$567K	—	120x	as long as short
Kraken Futures PF_UNIUSD	+0.0560%	1h	9.0401	+0.134%	$5.1M	$7.1M	50x	as long as short
Aftermath Perps UNIUSD	+0.0710%	1h	9.0010	−0.300%	$1K	$49K	10x	as long as short
Hyperliquid UNI	+0.0779%	1h	9.0384	+0.115%	$99.6M	$58.3M	10x	as long as short
Lighter UNI	+0.1048%	1h	9.0419	+0.154%	$4.6M	$5.1M	15x	as long as short