Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0144%/8h= +15.8% APRpaid last 24h +0.113%

Price spread now: GMX against Bybit−0.071%7-day average +0.090% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Bybit Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.134%+$13 on $10k

Price spread, last 4 days (all we have)+0.322%+$32 · spread now −0.071%, 7d avg +0.090%

Together, before fees+0.457%+$46 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.161% cheaper against Bybit than usual: you would sell low and buy high (spread −0.071% now, against its 7-day average of +0.090%). If the spread goes back, that is −$16 on $10k: about 3.7 days of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit UNIUSDT	9.0310	0.0100	pay 0.0100% / 8h	4h 27m	$101.4M	$110.8M	75x
Short	GMX UNI/USD [UNI-USDC]	9.0246	L +0.0381% / S −0.0244%	get 0.0030% / 1h	27m 26s	$643K	—	120x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now −0.071%Rate

Funding earned: $30.22
Price spread: −0.071% → +0.090%: −$16.07
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee GMX: 6 bp × 2 orders: −$12
Net: −$8.85
Costs to cover: 0.230%
Break-even: 9.0 days

Slippage unknown: Bybit: live order book, 2 min ago; GMX: no order-book sample. Net counts fees only.

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	0.55 bp	9.8 bp −$10	18.0 bp −$180	45.1 bp −$4,507	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Deribit UNI_USDC-PERPETUAL	0.0000%	1h	9.0314	+0.004%	$579K	$193K	50x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0004%	1h	9.0258	−0.057%	$37K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−2.226%	$660	$154K	12x	as long as short
01 Exchange UNIUSD	+0.0064%	1h	9.0345	+0.039%	$451	$5	10x	as long as short
Nado UNI-PERP	+0.0100%	1h	9.0295	−0.017%	$890K	$4.4M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	9.0387	+0.086%	$838K	$3.5M	50x	as long as short
Pacifica UNI	+0.0100%	1h	9.0396	+0.095%	$293K	$599K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	9.0332	+0.024%	$222.1M	$636.8M	75x	as long as short
Bybit UNIUSDTlong	+0.0100%	8h	9.0310	long leg	$101.4M	$110.8M	75x
OKX UNI-USDT-SWAP	+0.0100%	8h	9.0310	0.000%	$54.9M	$259.7M	50x	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	9.0430	+0.133%	$313K	$651K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	9.0400	+0.100%	$23.5M	$63.5M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	9.0280	−0.033%	$47.7M	$25.4M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	9.0260	−0.055%	$13.5M	$13.2M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	9.0300	−0.011%	$33.3M	$44.7M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	9.0400	+0.100%	—	$6.5M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	9.0310	0.000%	$1.0M	$2.3M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	9.0539	+0.254%	$4.3M	$4.2M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	9.0568	+0.286%	$171K	$346K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	9.0621	+0.344%	$632K	$2.7M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	9.0940	+0.698%	$93K	$700K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	9.0940	+0.698%	$15K	$3.4M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	9.0343	+0.037%	$87K	$425K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	9.0290	−0.022%	$16K	$1.5M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	9.0412	+0.113%	$36K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	9.0270	−0.044%	$22K	$790K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	9.0466	+0.173%	$723K	$4.6M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	9.0310	0.000%	$27.3M	$4.4M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	9.0363	+0.059%	$26K	—	20x	as long as short
Extended UNI-USD	+0.0104%	1h	9.0342	+0.036%	$292K	$1.6M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	9.0293	−0.019%	$32K	—	3x	as long as short
dYdX UNI-USD	+0.0117%	1h	9.0355	+0.050%	$238K	$30K	10x	as long as short
Lighter UNI	+0.0176%	1h	9.0521	+0.234%	$4.6M	$5.8M	15x	as long as short
BloFin UNI-USDT	+0.0220%	8h	9.0820	+0.565%	$10.4M	$3.6M	75x	as long as short
Coinbase International UNI-PERP-INTX	+0.0248%	1h	9.0520	+0.233%	$1.1M	$5.7M	50x	as long as short
Kraken Futures PF_UNIUSD	+0.0271%	1h	9.0350	+0.044%	$5.0M	$7.9M	50x	as long as short
Reya UNIRUSDPERP	+0.0372%	1h	9.0252	−0.065%	$16K	—	20x	as long as short
Hyperliquid UNI	+0.0377%	1h	9.0380	+0.078%	$97.9M	$62.6M	10x	as long as short
GMX UNI/USD [UNI-USDC]short	L +0.0381% / S −0.0244%	1h	9.0246	−0.071%	$643K	—	120x
Aftermath Perps UNIUSD	+0.1000%	1h	9.0489	+0.198%	$1K	$46K	10x	as long as short