Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.012%

Price spread now: SunX against Deribit−0.020%7-day average +0.009% · you buy dearer than you sell

Net, funding: paid 7d − costs−$51as in the Funding arb table

Net, price: spread back to 7d avg − costs−$66as in the Price arb table

costs, in and out, $10k−$630.635% of the position

Long on Deribit Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.125%+$13 on $10k

Price spread, last 3 days (all we have)+0.066%+$7 · spread now −0.020%, 7d avg +0.009%

Together, before fees+0.192%+$19 on $10k · with fees, hour by hour

Funding pays, the price is against you. SunX is 0.029% cheaper against Deribit than usual: you would sell low and buy high (spread −0.020% now, against its 7-day average of +0.009%). If the spread goes back, that is −$3 on $10k: about 23 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit UNI_USDC-PERPETUAL	8.8295	0	get 0.0000% / 1h	37m 19s	$562K	$157K	50x
Short	SunX UNI-USDT	8.8277	0.0100	get 0.0100% / 8h	1h 37m	$36K	$1.3M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.020%Rate

Funding earned: $21
Price spread: −0.020% → +0.009%: −$2.93
Slippage, 4 orders: −$48.46
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee SunX: 4 bp × 2 orders: −$8
Net: −$45.39
Costs to cover: 0.635%
Break-even: 22.1 days

Slippage from Deribit: live order book, 46 min ago; SunX: live order book, 7 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, 46 min ago	8.70 bp	15.2 bp −$15	23.4 bp −$234	doesn't fit	doesn't fit
Sell SunX live order book, 7 min ago	13.89 bp	17.9 bp −$18	37.0 bp −$370	doesn't fit	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
Variational Omni UNI	−0.0078%	8h	8.8285	−0.011%	$3.9M	$4.6M	—	as long as short
Bybit UNIUSDT	−0.0025%	8h	8.8230	−0.073%	$100.7M	$104.3M	75x	as long as short
Deribit UNI_USDC-PERPETUALlong	0.0000%	1h	8.8295	long leg	$562K	$157K	50x
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0004%	1h	8.8277	−0.020%	$61K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.7900	−0.447%	$657	$96K	12x	as long as short
OKX UNI-USDT-SWAP	+0.0037%	8h	8.8220	−0.084%	$54.6M	$243.1M	50x	as long as short
01 Exchange UNIUSD	+0.0040%	1h	8.8322	+0.031%	$441	—	10x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.8268	−0.030%	$25K	—	20x	as long as short
Nado UNI-PERP	+0.0100%	1h	8.8300	+0.006%	$934K	$4.0M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.8336	+0.047%	$1.0M	$3.4M	50x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica UNI	+0.0100%	1h	8.8327	+0.037%	$296K	$570K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	8.8240	−0.062%	$216.7M	$588.3M	75x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.8390	+0.108%	$272K	$606K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.8270	−0.028%	$22.9M	$58.4M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.8270	−0.028%	$42.6M	$24.4M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.8230	−0.073%	$13.5M	$13.8M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.8220	−0.084%	$32.1M	$41.3M	75x	as long as short
BingX UNI-USDT	+0.0100%	8h	8.8240	−0.062%	—	$51.9M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	8.8367	+0.082%	$978K	$2.3M	10x	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.8429	+0.152%	$166K	$343K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.8390	+0.108%	$613K	$2.5M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.8450	+0.176%	$87K	$713K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.8390	+0.108%	$105K	$3.2M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.8240	−0.062%	$86K	$351K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.8240	−0.062%	$16K	$1.7M	10x	as long as short
SunX UNI-USDTshort	+0.0100%	8h	8.8277	−0.020%	$36K	$1.3M	30x
SoDEX UNI-USD	+0.0100%	1h	8.8230	−0.073%	$25K	$666K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.8420	+0.142%	$726K	$4.3M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.8200	−0.107%	$26.5M	$4.5M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	8.8212	−0.093%	$300K	$1.4M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.8287	−0.009%	$31K	$1K	3x	as long as short
dYdX UNI-USD	+0.0114%	1h	8.8357	+0.070%	$245K	$6K	10x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.8400	+0.119%	$9.8M	$3.3M	75x	as long as short
Coinbase International UNI-PERP-INTX	+0.0224%	1h	8.8300	+0.006%	$1.0M	$5.2M	50x	as long as short
Hyperliquid UNI	+0.0325%	1h	8.8366	+0.081%	$96.7M	$59.1M	10x	as long as short
Kraken Futures PF_UNIUSD	+0.0343%	1h	8.8306	+0.013%	$4.9M	$7.0M	50x	as long as short
Reya UNIRUSDPERP	+0.0362%	1h	8.8207	−0.099%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0379% / S −0.0319%	1h	8.8270	−0.028%	$553K	—	120x	as long as short
Lighter UNI	+0.0592%	1h	8.8471	+0.200%	$4.5M	$5.2M	15x	as long as short
Aftermath Perps UNIUSD	+0.0613%	1h	8.8317	+0.025%	$1K	$49K	10x	as long as short