Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h −0.015%

Price spread now: OKX against Deribit+0.032%7-day average −0.085% · you sell dearer than you buy

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$410.411% of the position

Long on Deribit Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.011%+$1 on $10k

Price spread, last 4 days (all we have)−0.567%−$57 · spread now +0.032%, 7d avg −0.085%

Together, before fees−0.557%−$56 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and OKX is 0.117% dearer against Deribit than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of −0.085%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit UNI_USDC-PERPETUAL	9.0461	0	get 0.0000% / 1h	48m 35s	$580K	$193K	50x
Short	OKX UNI-USDT-SWAP	9.0490	0.0100	get 0.0100% / 8h	4h 48m	$55.5M	$256.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.032%Rate

Funding earned: $21
Price spread: +0.032% → −0.085%: $11.71
Slippage, 4 orders: −$24.1
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee OKX: 5 bp × 2 orders: −$10
Net: −$8.39
Costs to cover: 0.411%
Break-even: 9.8 days

Slippage from Deribit: live order book, 10 min ago; OKX: 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 Deribit live order book, 10 min ago	8.16 bp	13.0 bp −$13	21.4 bp −$214	doesn't fit	doesn't fit
Sell OKX live order book, 5 min ago	0.55 bp	7.7 bp −$8	15.8 bp −$158	51.9 bp −$5,194	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
Deribit UNI_USDC-PERPETUALlong	0.0000%	1h	9.0461	long leg	$580K	$193K	50x
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0004%	1h	9.0505	+0.050%	$37K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−2.389%	$660	$154K	12x	as long as short
01 Exchange UNIUSD	+0.0048%	1h	9.0666	+0.227%	$452	$5	10x	as long as short
Nado UNI-PERP	+0.0100%	1h	9.0500	+0.043%	$901K	$4.3M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	9.0531	+0.078%	$1.0M	$3.0M	50x	as long as short
Pacifica UNI	+0.0100%	1h	9.0520	+0.066%	$293K	$590K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	9.0502	+0.045%	$224.1M	$629.3M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	9.0460	−0.001%	$101.5M	$110.6M	75x	as long as short
OKX UNI-USDT-SWAPshort	+0.0100%	8h	9.0490	+0.032%	$55.5M	$256.8M	50x

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus UNI-USD	+0.0100%	1h	9.0620	+0.176%	$287K	$613K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	9.0540	+0.088%	$22.9M	$62.3M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	9.0490	+0.032%	$48.3M	$25.2M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	9.0540	+0.088%	$13.6M	$13.1M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	9.0610	+0.165%	$33.5M	$44.1M	75x	as long as short
BingX UNI-USDT	+0.0100%	8h	9.0630	+0.187%	—	$56.5M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	9.0458	−0.003%	$1.0M	$2.3M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	9.0589	+0.142%	$4.3M	$4.3M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	9.1122	+0.732%	$172K	$344K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	9.1180	+0.795%	$635K	$2.7M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	9.0710	+0.276%	$88K	$695K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	9.0700	+0.265%	$36K	$3.3M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	9.0592	+0.145%	$87K	$421K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	9.0410	−0.056%	$16K	$1.6M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	9.0567	+0.118%	$37K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	9.0400	−0.067%	$22K	$781K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	9.0570	+0.121%	$713K	$4.5M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	9.0470	+0.010%	$27.4M	$4.5M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	9.0452	−0.009%	$26K	—	20x	as long as short
Extended UNI-USD	+0.0104%	1h	9.0441	−0.022%	$297K	$1.6M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	9.0377	−0.093%	$32K	—	3x	as long as short
dYdX UNI-USD	+0.0132%	1h	9.0494	+0.036%	$238K	$30K	10x	as long as short
BloFin UNI-USDT	+0.0220%	8h	9.0280	−0.200%	$10.3M	$3.5M	75x	as long as short
Coinbase International UNI-PERP-INTX	+0.0248%	1h	9.0440	−0.023%	$1.1M	$5.4M	50x	as long as short
Kraken Futures PF_UNIUSD	+0.0270%	1h	9.0418	−0.047%	$5.0M	$7.8M	50x	as long as short
Lighter UNI	+0.0272%	1h	9.0629	+0.186%	$4.6M	$5.8M	15x	as long as short
Reya UNIRUSDPERP	+0.0372%	1h	9.0462	+0.002%	$17K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0244%	1h	9.0509	+0.053%	$645K	—	120x	as long as short
Hyperliquid UNI	+0.0448%	1h	9.0633	+0.191%	$98.4M	$61.7M	10x	as long as short
Aftermath Perps UNIUSD	+0.1071%	1h	9.0989	+0.584%	$999	$46K	10x	as long as short