Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.013%

Price spread now: Orderly against Coinbase International−0.091%7-day average −0.023% · you buy dearer than you sell

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

Long on Coinbase International Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days+0.189%+$19 on $10k

Price spread, last 3 days (all we have)+0.240%+$24 · spread now −0.091%, 7d avg −0.023%

Together, before fees+0.429%+$43 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Orderly is 0.067% cheaper against Coinbase International than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.023%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.189%, 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	8.8290	0.0200	pay 0.0025% / 1h	47m 41s	$1.0M	$5.3M	50x
Short	Orderly PERP_UNI_USDC	8.8210	0.0100	get 0.0100% / 8h	2h 47m	$16K	$1.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.091%Rate

Funding earned: −$21
Price spread: −0.091% → −0.023%: −$6.71
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$43.71
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Coinbase International: live order book, 1 min ago; Orderly: 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 Coinbase International live order book, 1 min ago	2.83 bp	11.1 bp −$11	16.1 bp −$161	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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
Variational Omni UNI	−0.0200%	8h	8.7965	−0.368%	$3.9M	$4.6M	—	as long as short
Bybit UNIUSDT	−0.0187%	8h	8.8200	−0.102%	$102.7M	$103.8M	75x	as long as short
01 Exchange UNIUSD	−0.0040%	1h	8.8343	+0.060%	$441	—	10x	as long as short
Deribit UNI_USDC-PERPETUAL	0.0000%	1h	8.8307	+0.019%	$551K	$125K	50x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0006%	1h	8.8197	−0.105%	$79K	—	150x	as long as short
OKX UNI-USDT-SWAP	+0.0007%	8h	8.8210	−0.091%	$54.3M	$244.6M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.8243	−0.054%	$25K	—	20x	as long as short
Nado UNI-PERP	+0.0100%	1h	8.8092	−0.224%	$848K	$3.9M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.8304	+0.016%	$1.0M	$3.4M	50x	as long as short
Pacifica UNI	+0.0100%	1h	8.8265	−0.028%	$296K	$559K	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	8.8247	−0.049%	$216.2M	$593.3M	75x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.8380	+0.102%	$273K	$605K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.8240	−0.057%	$22.9M	$58.9M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.8200	−0.102%	$42.7M	$24.4M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.8240	−0.057%	$13.7M	$13.6M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.8250	−0.045%	$32.0M	$40.9M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	8.8250	−0.045%	—	$6.5M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	8.8258	−0.036%	$977K	$2.4M	10x	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.8216	−0.084%	$166K	$343K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.8123	−0.189%	$618K	$2.6M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.8070	−0.249%	$83K	$713K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.8130	−0.181%	$105K	$3.2M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.8150	−0.159%	$86K	$324K	10x	as long as short
Orderly PERP_UNI_USDCshort	+0.0100%	8h	8.8210	−0.091%	$16K	$1.7M	10x
SunX UNI-USDT	+0.0100%	8h	8.8187	−0.117%	$36K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.8231	−0.067%	$28K	$659K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.8420	+0.147%	$722K	$4.3M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.8190	−0.113%	$26.6M	$4.4M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	8.8235	−0.062%	$307K	$1.4M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.8262	−0.032%	$31K	$1K	3x	as long as short
dYdX UNI-USD	+0.0154%	1h	8.8260	−0.034%	$244K	$5K	10x	as long as short
Coinbase International UNI-PERP-INTXlong	+0.0200%	1h	8.8290	long leg	$1.0M	$5.3M	50x
BloFin UNI-USDT	+0.0220%	8h	8.8060	−0.261%	$9.8M	$3.3M	75x	as long as short
Kraken Futures PF_UNIUSD	+0.0269%	1h	8.8302	+0.014%	$4.9M	$7.1M	50x	as long as short
Hyperliquid UNI	+0.0350%	1h	8.8385	+0.108%	$95.9M	$59.7M	10x	as long as short
Reya UNIRUSDPERP	+0.0359%	1h	8.8099	−0.216%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0380% / S −0.0320%	1h	8.8188	−0.115%	$553K	—	120x	as long as short
Lighter UNI	+0.0424%	1h	8.8411	+0.137%	$4.5M	$5.3M	15x	as long as short
Aftermath Perps UNIUSD	+0.0477%	1h	8.8171	−0.135%	$1K	$50K	10x	as long as short
Injective UNI/USDC PERP	+0.2702%	1h	8.7900	−0.442%	$657	$97K	12x	as long as short