Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.007%

Price spread now: Binance against Deribit−0.114%55s7-day average −0.039% · you buy dearer than you sell

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$520.523% of the position

Long on Deribit Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.059%+$6 on $10k

Price spread, last 3 days (all we have)−0.723%−$72 · spread now −0.114%, 7d avg −0.039%

Together, before fees−0.664%−$66 on $10k · with fees, hour by hour

Funding pays, the price is against you. Binance is 0.075% cheaper against Deribit than usual: you would sell low and buy high (spread −0.114% now, against its 7-day average of −0.039%). If the spread goes back, that is −$7 on $10k: about 2.5 days of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.059% in total) that is about 8.9 days. The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit UNI_USDC-PERPETUAL	8.8251	0	get 0.0000% / 1h	52m 25s	$551K	$125K	50x
Short	Binance UNIUSDT	8.8150	0.0100	get 0.0100% / 8h	2h 52m	$215.9M	$593.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Deribit. 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 DeribitbpFee BinancebpOrdersPrice spread, now −0.114%Rate

Funding earned: $21
Price spread: −0.114% → −0.039%: −$7.46
Slippage, 4 orders: −$35.27
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Binance: 5 bp × 2 orders: −$10
Net: −$38.73
Costs to cover: 0.523%
Break-even: 19.9 days

Slippage from Deribit: live order book, 36 min ago; Binance: live order book, 6 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 Deribit live order book, 36 min ago	5.99 bp	17.2 bp −$17	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 6 min ago	0.57 bp	6.9 bp −$7	12.2 bp −$122	44.9 bp −$4,487	158.6 bp −$79.3K

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	−0.0201%	8h	8.8015	−0.267%	$3.9M	$4.9M	—	as long as short
Bybit UNIUSDT	−0.0192%	8h	8.8120	−0.148%	$102.7M	$103.9M	75x	as long as short
01 Exchange UNIUSD	−0.0064%	1h	8.8166	−0.096%	$440	—	10x	as long as short
Deribit UNI_USDC-PERPETUALlong	0.0000%	1h	8.8251	long leg	$551K	$125K	50x
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0006%	1h	8.8196	−0.062%	$79K	—	150x	as long as short
OKX UNI-USDT-SWAP	+0.0010%	8h	8.8130	−0.137%	$54.3M	$244.7M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.8154	−0.109%	$25K	—	20x	as long as short
Nado UNI-PERP	+0.0100%	1h	8.8065	−0.210%	$851K	$3.9M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.8240	−0.012%	$1.0M	$3.4M	50x	as long as short
Pacifica UNI	+0.0100%	1h	8.8171	−0.091%	$297K	$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 UNIUSDTshort	+0.0100%	8h	8.8150	−0.114%	$215.9M	$593.7M	75x
Arcus UNI-USD	+0.0100%	1h	8.8240	−0.012%	$272K	$605K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.8130	−0.137%	$22.9M	$58.9M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.8150	−0.114%	$42.7M	$24.4M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.8150	−0.114%	$13.7M	$13.6M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.8100	−0.171%	$31.9M	$41.0M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	8.8140	−0.125%	—	$6.5M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	8.8224	−0.030%	$977K	$2.4M	10x	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.8265	+0.016%	$166K	$342K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.8310	+0.067%	$619K	$2.6M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.8040	−0.239%	$83K	$713K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.8250	−0.001%	$105K	$3.3M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.8168	−0.094%	$87K	$336K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.8170	−0.091%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.8258	+0.008%	$36K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.8178	−0.082%	$28K	$659K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.8287	+0.041%	$721K	$4.3M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.8200	−0.057%	$26.6M	$4.4M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	8.8087	−0.185%	$307K	$1.4M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.8223	−0.032%	$31K	$1K	3x	as long as short
Coinbase International UNI-PERP-INTX	+0.0200%	1h	8.8280	+0.033%	$1.0M	$5.3M	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.8190	−0.069%	$9.8M	$3.3M	75x	as long as short
dYdX UNI-USD	+0.0264%	1h	8.8220	−0.035%	$244K	$5K	10x	as long as short
Kraken Futures PF_UNIUSD	+0.0270%	1h	8.8250	0.000%	$4.9M	$7.1M	50x	as long as short
Reya UNIRUSDPERP	+0.0359%	1h	8.8121	−0.147%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0380% / S −0.0320%	1h	8.8209	−0.047%	$553K	—	120x	as long as short
Hyperliquid UNI	+0.0435%	1h	8.8255	+0.005%	$95.8M	$59.6M	10x	as long as short
Lighter UNI	+0.0464%	1h	8.8349	+0.112%	$4.5M	$5.3M	15x	as long as short
Aftermath Perps UNIUSD	+0.0504%	1h	8.8218	−0.037%	$1K	$50K	10x	as long as short
Injective UNI/USDC PERP	+0.2702%	1h	8.7900	−0.397%	$657	$97K	12x	as long as short