Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0170%/8h= +18.7% APRpaid last 24h +0.069%

Price spread now: Kraken Futures against Bybit+0.159%7-day average +0.120% · you sell dearer than you buy

Net, funding: paid 7d − costs−$17as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$430.429% of the position

Long on Bybit Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.254%+$25 on $10k

Price spread, last 4 days (all we have)+0.252%+$25 · spread now +0.159%, 7d avg +0.120%

Together, before fees+0.506%+$51 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Kraken Futures is 0.038% dearer against Bybit than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.120%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit UNIUSDT	8.9840	0.0100	pay 0.0100% / 8h	3h 31m	$100.8M	$111.9M	75x
Short	Kraken Futures PF_UNIUSD	8.9982	0.0270	get 0.0034% / 1h	31m 01s	$4.9M	$8.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.159%Rate

Funding earned: $35.79
Price spread: +0.159% → +0.120%: $3.83
Slippage, 4 orders: −$21.86
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$3.23
Costs to cover: 0.429%
Break-even: 7.6 days

Slippage from Bybit: live order book, 3 min ago; Kraken Futures: live order book, 3 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, 3 min ago	0.56 bp	7.2 bp −$7	16.7 bp −$167	42.1 bp −$4,212	doesn't fit
Sell Kraken Futures live order book, 3 min ago	4.44 bp	10.5 bp −$11	12.3 bp −$123	39.0 bp −$3,898	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	8.9874	+0.038%	$37K	—	150x	as long as short
01 Exchange UNIUSD	+0.0024%	1h	8.9831	−0.010%	$448	$5	10x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−1.714%	$660	$154K	12x	as long as short
Lighter UNI	+0.0096%	1h	9.0035	+0.217%	$4.5M	$5.9M	15x	as long as short
Nado UNI-PERP	+0.0100%	1h	8.9785	−0.061%	$978K	$4.5M	10x	as long as short
Hyperliquid UNI	+0.0100%	1h	8.9960	+0.134%	$95.8M	$64.0M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.9913	+0.081%	$795K	$3.6M	50x	as long as short
Pacifica UNI	+0.0100%	1h	8.9734	−0.118%	$290K	$607K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	8.9885	+0.050%	$222.0M	$646.8M	75x	as long as short
Bybit UNIUSDTlong	+0.0100%	8h	8.9840	long leg	$100.8M	$111.9M	75x

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX UNI-USDT-SWAP	+0.0100%	8h	8.9820	−0.022%	$54.9M	$262.0M	50x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.9900	+0.067%	$314K	$653K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.9870	+0.033%	$23.9M	$63.9M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.9870	+0.033%	$48.2M	$25.8M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.9860	+0.022%	$13.3M	$13.3M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.9840	0.000%	$33.3M	$45.5M	75x	as long as short
BingX UNI-USDT	+0.0100%	8h	8.9870	+0.033%	—	$56.6M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	8.9954	+0.127%	$1.0M	$2.3M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	8.9889	+0.055%	$4.2M	$4.1M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	9.0083	+0.271%	$170K	$346K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.9850	+0.011%	$624K	$2.8M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	9.0140	+0.334%	$92K	$703K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.9850	+0.011%	$15K	$3.4M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.9893	+0.059%	$86K	$435K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.9900	+0.067%	$16K	$1.4M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.9956	+0.129%	$37K	$1.4M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.9920	+0.089%	$30K	$817K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	9.0040	+0.223%	$704K	$4.9M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.9910	+0.078%	$27.2M	$4.4M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.9645	−0.217%	$26K	—	20x	as long as short
Extended UNI-USD	+0.0104%	1h	8.9799	−0.046%	$286K	$1.6M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.9925	+0.095%	$32K	—	3x	as long as short
Coinbase International UNI-PERP-INTX	+0.0216%	1h	8.9810	−0.033%	$940K	$5.8M	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.9820	−0.022%	$10.2M	$3.6M	75x	as long as short
Kraken Futures PF_UNIUSDshort	+0.0270%	1h	8.9982	+0.159%	$4.9M	$8.1M	50x
dYdX UNI-USD	+0.0276%	1h	8.9725	−0.128%	$236K	$30K	10x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0304%	1h	8.9971	+0.145%	$577K	$208K	50x	as long as short
Reya UNIRUSDPERP	+0.0374%	1h	8.9856	+0.018%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0244%	1h	8.9887	+0.052%	$639K	—	120x	as long as short
Aftermath Perps UNIUSD	+0.0823%	1h	8.9933	+0.104%	$953	$45K	10x	as long as short