Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0313%/8h= +34.2% APRpaid last 24h +0.078%

Price spread now: Hyperliquid against Bybit+0.118%7-day average +0.141% · you sell dearer than you buy

Net, funding: paid 7d − costs−$8as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$340.343% of the position

Long on Bybit Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.268%+$27 on $10k

Price spread, last 7 days−0.022%−$2 · spread now +0.118%, 7d avg +0.141%

Together, before fees+0.245%+ Points / potential airdropHyperliquid: Season 2 · farm board+$25 on $10k · with fees, hour by hour

Funding pays, the price is against you. Hyperliquid is 0.022% cheaper against Bybit than usual: you would sell low and buy high (spread +0.118% now, against its 7-day average of +0.141%). 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 7 days (+0.268% in total) that is about 14 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit UNIUSDT	9.0620	0.0100	pay 0.0100% / 8h	4h 31m	$101.7M	$110.9M	75x
Short	Hyperliquid UNI	9.0727	0.0413	get 0.0052% / 1h	31m 52s	$98.3M	$62.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.118%Rate

Funding earned: $65.68
Price spread: +0.118% → +0.141%: −$2.25
Slippage, 4 orders: −$14.3
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $29.13
Costs to cover: 0.343%
Break-even: 3.9 days

Slippage from Bybit: live order book, 2 min ago; Hyperliquid: live order book, 12 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	0.56 bp	9.1 bp −$9	17.2 bp −$172	40.5 bp −$4,047	doesn't fit
Sell Hyperliquid live order book, 12 min ago	0.44 bp	7.7 bp −$8	doesn't fit	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
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0004%	1h	9.0597	−0.025%	$37K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−2.560%	$660	$154K	12x	as long as short
01 Exchange UNIUSD	+0.0056%	1h	9.0285	−0.370%	$451	$5	10x	as long as short
Nado UNI-PERP	+0.0100%	1h	9.0430	−0.210%	$895K	$4.4M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	9.0710	+0.099%	$841K	$3.5M	50x	as long as short
Pacifica UNI	+0.0100%	1h	9.0352	−0.295%	$293K	$593K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	9.0628	+0.009%	$222.7M	$636.5M	75x	as long as short
Bybit UNIUSDTlong	+0.0100%	8h	9.0620	long leg	$101.7M	$110.9M	75x
OKX UNI-USDT-SWAP	+0.0100%	8h	9.0620	0.000%	$55.0M	$260.3M	50x	as long as short
Arcus UNI-USD	+0.0100%	1h	9.0300	−0.353%	$312K	$651K	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate UNI_USDT	+0.0100%	8h	9.0620	0.000%	$23.6M	$63.4M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	9.0700	+0.088%	$48.0M	$25.4M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	9.0700	+0.088%	$13.6M	$13.2M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	9.0690	+0.077%	$33.5M	$44.8M	75x	as long as short
BingX UNI-USDT	+0.0100%	8h	9.0630	+0.011%	—	$56.6M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	9.0758	+0.152%	$1.0M	$2.3M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	8.9859	−0.839%	$4.2M	$4.2M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.9922	−0.770%	$170K	$345K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.9959	−0.729%	$633K	$2.7M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.9930	−0.761%	$88K	$696K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.9920	−0.772%	$16K	$3.4M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	9.0480	−0.154%	$87K	$424K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	9.0560	−0.066%	$16K	$1.5M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	9.0400	−0.243%	$36K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	9.0580	−0.044%	$22K	$789K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	9.0580	−0.044%	$714K	$4.6M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	9.0590	−0.033%	$27.4M	$4.5M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	9.0305	−0.348%	$26K	—	20x	as long as short
Extended UNI-USD	+0.0104%	1h	9.0668	+0.053%	$293K	$1.6M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	9.0574	−0.050%	$32K	—	3x	as long as short
dYdX UNI-USD	+0.0109%	1h	9.0333	−0.317%	$238K	$30K	10x	as long as short
Lighter UNI	+0.0216%	1h	9.0708	+0.097%	$4.6M	$5.8M	15x	as long as short
BloFin UNI-USDT	+0.0220%	8h	9.0370	−0.276%	$10.3M	$3.6M	75x	as long as short
Coinbase International UNI-PERP-INTX	+0.0248%	1h	9.0560	−0.066%	$1.1M	$5.7M	50x	as long as short
Kraken Futures PF_UNIUSD	+0.0270%	1h	9.0646	+0.029%	$5.0M	$7.9M	50x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0309%	1h	9.0619	−0.002%	$581K	$193K	50x	as long as short
Reya UNIRUSDPERP	+0.0372%	1h	9.0482	−0.153%	$17K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0244%	1h	9.0603	−0.019%	$644K	—	120x	as long as short
Hyperliquid UNIshort	+0.0413%	1h	9.0727	+0.118%	$98.3M	$62.4M	10x
Aftermath Perps UNIUSD	+0.1023%	1h	9.0358	−0.289%	$1K	$46K	10x	as long as short