Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0156%/8h= −17.1% APRpaid last 24h −0.020%

Price spread now: Bybit against Deribit−0.017%45s7-day average −0.116% · you buy dearer than you sell

Net, funding: paid 7d − costs−$41as 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−$430.430% of the position

Long on Deribit Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.021%+$2 on $10k

Price spread, last 3 days (all we have)−0.239%−$24 · spread now −0.017%, 7d avg −0.116%

Together, before fees−0.218%−$22 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.099% dearer against Deribit than usual: you sell high and buy low (spread −0.017% now, against its 7-day average of −0.116%): +$10 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 2.1 days. The two prices were read 45 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	9.0315	0.0256	pay 0.0032% / 1h	31m 31s	$586K	$201K	50x
Short	Bybit UNIUSDT	9.0300	0.0100	get 0.0100% / 8h	6h 31m	$101.1M	$107.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.017%Rate

Funding earned: −$32.76
Price spread: −0.017% → −0.116%: $9.92
Slippage, 4 orders: −$24.97
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$65.81
Costs to cover: 0.430%
Break-even: never at this rate

Slippage from Deribit: live order book, 37 min ago; Bybit: 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 Deribit live order book, 37 min ago	7.29 bp	10.8 bp −$11	19.6 bp −$196	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	0.56 bp	9.7 bp −$10	17.9 bp −$179	38.2 bp −$3,822	doesn't fit

UNI on 39 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	9.0346	+0.034%	$19K	—	150x	as long as short
dYdX UNI-USD	+0.0023%	1h	9.0242	−0.081%	$238K	$30K	10x	as long as short
01 Exchange UNIUSD	+0.0024%	1h	9.0306	−0.011%	$451	—	10x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−2.232%	$660	$154K	12x	as long as short
Nado UNI-PERP	+0.0100%	1h	9.0290	−0.028%	$934K	$4.3M	10x	as long as short
Hyperliquid UNI	+0.0100%	1h	9.0433	+0.130%	$98.2M	$60.1M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	9.0297	−0.020%	$1.0M	$2.9M	50x	as long as short
Pacifica UNI	+0.0100%	1h	9.0239	−0.085%	$295K	$580K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	9.0363	+0.053%	$225.5M	$611.7M	75x	as long as short
Bybit UNIUSDTshort	+0.0100%	8h	9.0300	−0.017%	$101.1M	$107.6M	75x

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX UNI-USDT-SWAP	+0.0100%	8h	9.0240	−0.084%	$55.7M	$254.0M	50x	as long as short
Arcus UNI-USD	+0.0100%	1h	9.0270	−0.050%	$286K	$636K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	9.0340	+0.027%	$23.1M	$58.5M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	9.0340	+0.027%	$49.5M	$26.1M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	9.0360	+0.049%	$13.4M	$13.8M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	9.0280	−0.039%	$33.0M	$42.8M	75x	as long as short
BingX UNI-USDT	+0.0100%	8h	9.0340	+0.027%	—	$57.3M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	9.0255	−0.067%	$987K	$2.4M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	8.9961	−0.392%	$4.1M	$4.3M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.9955	−0.399%	$169K	$345K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.9959	−0.395%	$630K	$2.6M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	9.0020	−0.327%	$88K	$706K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	9.0300	−0.017%	$56K	$3.3M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	9.0364	+0.054%	$86K	$410K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	9.0270	−0.050%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	9.0320	+0.005%	$37K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	9.0232	−0.092%	$22K	$715K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	9.0400	+0.094%	$719K	$4.2M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	9.0240	−0.084%	$27.2M	$4.5M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	9.0135	−0.200%	$26K	—	20x	as long as short
Extended UNI-USD	+0.0104%	1h	9.0167	−0.165%	$300K	$1.5M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	9.0284	−0.035%	$32K	—	3x	as long as short
Deribit UNI_USDC-PERPETUALlong	+0.0256%	1h	9.0315	long leg	$586K	$201K	50x
Coinbase International UNI-PERP-INTX	+0.0312%	1h	9.0390	+0.082%	$1.1M	$4.7M	50x	as long as short
Reya UNIRUSDPERP	+0.0368%	1h	9.0293	−0.025%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0244%	1h	9.0286	−0.033%	$643K	—	120x	as long as short
Lighter UNI	+0.0400%	1h	9.0389	+0.081%	$4.6M	$5.3M	15x	as long as short
Kraken Futures PF_UNIUSD	+0.0425%	1h	9.0276	−0.044%	$5.0M	$6.9M	50x	as long as short
Aftermath Perps UNIUSD	+0.0942%	1h	9.0020	−0.327%	$1K	$48K	10x	as long as short