Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0140%/8h= −15.3% APRpaid last 24h −0.039%

Price spread now: Binance against Coinbase International−0.234%7-day average −0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$64as in the Price arb table

costs, in and out, $10k−$420.421% of the position

Long on Coinbase International Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.076%+$8 on $10k

Price spread, last 4 days (all we have)+0.034%+$3 · spread now −0.234%, 7d avg −0.015%

Together, before fees+0.110%+$11 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Binance is 0.219% cheaper against Coinbase International than usual: you would sell low and buy high (−$22 if the spread goes back to its 7-day average of −0.015%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.076%, 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	Coinbase International UNI-PERP-INTX	8.7440	0.0240	pay 0.0030% / 1h	31m 47s	$909K	$4.2M	50x
Short	Binance UNIUSDT	8.7235	0.0100	get 0.0100% / 8h	5h 31m	$211.9M	$562.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Coinbase International. 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 Coinbase InternationalbpFee BinancebpOrdersPrice spread, now −0.234%Rate

Funding earned: −$29.4
Price spread: −0.234% → −0.015%: −$21.93
Slippage, 4 orders: −$22.07
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$93.4
Costs to cover: 0.421%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 5 min ago; Binance: live order book, 5 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 Coinbase International live order book, 5 min ago	5.12 bp	13.4 bp −$13	17.8 bp −$178	52.9 bp −$5,289	doesn't fit
Sell Binance live order book, 5 min ago	0.57 bp	7.0 bp −$7	13.0 bp −$130	41.0 bp −$4,101	135.8 bp −$67.9K

UNI on 40 exchanges

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	8.7373	−0.076%	$578K	$214K	50x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0005%	1h	8.7363	−0.088%	$75K	—	150x	as long as short
Nado UNI-PERP	+0.0023%	1h	8.7375	−0.074%	$699K	$3.9M	10x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	+0.984%	$660	$147K	12x	as long as short
01 Exchange UNIUSD	+0.0056%	1h	8.7401	−0.045%	$436	$56	10x	as long as short
Lighter UNI	+0.0096%	1h	8.7339	−0.116%	$4.3M	$4.8M	15x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	8.7240	−0.229%	$53.8M	$220.9M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.7344	−0.110%	$25K	—	20x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.7320	−0.137%	$737K	$2.5M	50x	as long as short
Pacifica UNI	+0.0100%	1h	8.7268	−0.196%	$288K	$460K	10x	as long as short

Show all 40 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance UNIUSDTshort	+0.0100%	8h	8.7235	−0.234%	$211.9M	$562.6M	75x
Bybit UNIUSDT	+0.0100%	8h	8.7230	−0.240%	$96.4M	$96.0M	75x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.7490	+0.057%	$321K	$515K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.7380	−0.069%	$27.7M	$55.5M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.7260	−0.206%	$45.7M	$20.9M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.7390	−0.057%	$12.8M	$11.0M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.7290	−0.172%	$32.4M	$41.8M	75x	as long as short
BingX UNI-USDT	+0.0100%	8h	8.7330	−0.126%	—	$49.9M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	8.7399	−0.047%	$1.1M	$2.3M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	8.7723	+0.323%	$4.0M	$2.3M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.7908	+0.535%	$166K	$345K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.7900	+0.526%	$622K	$2.2M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.7700	+0.297%	$89K	$715K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.7560	+0.137%	$92K	$3.4M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.7373	−0.077%	$89K	$598K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.7320	−0.137%	$16K	$2.4M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.7413	−0.031%	$35K	$1.1M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.7315	−0.143%	$31K	$725K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.7532	+0.105%	$701K	$3.9M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.7370	−0.080%	$26.4M	$4.5M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	8.7327	−0.129%	$293K	$1.7M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.7329	−0.127%	$31K	—	3x	as long as short
Kraken Futures PF_UNIUSD	+0.0132%	1h	8.7373	−0.077%	$4.6M	$7.6M	50x	as long as short
Hyperliquid UNI	+0.0155%	1h	8.7422	−0.021%	$93.8M	$60.9M	10x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.7520	+0.091%	$10.0M	$3.3M	75x	as long as short
Coinbase International UNI-PERP-INTXlong	+0.0240%	1h	8.7440	long leg	$909K	$4.2M	50x
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0244%	1h	8.7659	+0.250%	$624K	—	120x	as long as short
Reya UNIRUSDPERP	+0.0387%	1h	8.7566	+0.144%	$16K	—	20x	as long as short
Aftermath Perps UNIUSD	+0.0513%	1h	8.7713	+0.313%	$1K	$49K	10x	as long as short
dYdX UNI-USD	+0.0622%	1h	8.7409	−0.035%	$229K	$32K	10x	as long as short