UNI

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0093%/8h= −10.1% APRnext payment −$0.12 per $10,000 · paid last 24h −0.034%

Price spread now: Backpack against dYdX+0.310%7-day average +0.027% · you sell dearer than you buy

Net, funding: paid 7d − costs−$115as in the Funding arb table

Net, price: spread back to 7d avg − costs−$64as in the Price arb table

costs, in and out, $10k−$930.927% of the position

Long on dYdX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.218%−$22 on $10k

Price spread, last 4 days (all we have)−0.255%−$26 · spread now +0.310%, 7d avg +0.027%

Together, before fees−0.473%−$47 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Backpack is 0.283% dearer against dYdX than usual: you sell high and buy low (spread +0.310% now, against its 7-day average of +0.027%): +$28 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 10 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX UNI-USD	9.0903	0.0193	pay 0.0024% / 1h	45m 05s	$239K	$30K	10x
Short	Backpack UNI_USDC_PERP	9.1184	0.0100	get 0.0013% / 1h	45m 05s	$993K	$2.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against dYdX. 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 dYdXbpFee BackpackbpOrdersPrice spread, now +0.310%Rate

Funding earned: −$19.44
Price spread: +0.310% → +0.027%: $28.31
Slippage, 4 orders: −$72.7
Fee dYdX: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$83.83
Costs to cover: 0.927%
Break-even: never at this rate

Slippage from dYdX: live order book, 19 min ago; Backpack: live order book, 4 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 dYdX live order book, 19 min ago	33.44 bp	38.4 bp −$38	38.4 bp −$384	89.7 bp −$8,967	442.6 bp −$221.3K
Sell Backpack live order book, 4 min ago	0.05 bp	9.5 bp −$10	545.9 bp −$5,459	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
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0004%	1h	9.1057	+0.170%	$19K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−2.863%	$660	$154K	12x	as long as short
01 Exchange UNIUSD	+0.0088%	1h	9.1066	+0.180%	$454	$5	10x	as long as short
Nado UNI-PERP	+0.0100%	1h	9.0970	+0.074%	$946K	$4.3M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	9.1120	+0.239%	$1.0M	$2.9M	50x	as long as short
Pacifica UNI	+0.0100%	1h	9.0882	−0.023%	$296K	$570K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	9.1154	+0.277%	$227.4M	$609.4M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	9.1100	+0.217%	$102.5M	$108.0M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	9.1130	+0.250%	$56.2M	$253.6M	50x	as long as short
Arcus UNI-USD	+0.0100%	1h	9.1080	+0.195%	$288K	$619K	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate UNI_USDT	+0.0100%	8h	9.1130	+0.250%	$23.5M	$59.3M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	9.1120	+0.239%	$49.5M	$25.0M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	9.1100	+0.217%	$13.6M	$12.9M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	9.1130	+0.250%	$33.4M	$42.7M	75x	as long as short
BingX UNI-USDT	+0.0100%	8h	9.1130	+0.250%	—	$56.6M	—	as long as short
Backpack UNI_USDC_PERPshort	+0.0100%	1h	9.1184	+0.310%	$993K	$2.2M	10x
Variational Omni UNI	+0.0100%	8h	9.0819	−0.092%	$4.2M	$4.2M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	9.0612	−0.319%	$171K	$346K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	9.0730	−0.190%	$634K	$2.6M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	9.0770	−0.146%	$89K	$699K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	9.0830	−0.080%	$58K	$3.3M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	9.1104	+0.222%	$88K	$411K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	9.1080	+0.195%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	9.1164	+0.288%	$37K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	9.1072	+0.186%	$22K	$750K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	9.1120	+0.239%	$719K	$4.3M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	9.1130	+0.250%	$27.5M	$4.5M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	9.0967	+0.071%	$26K	—	20x	as long as short
Extended UNI-USD	+0.0104%	1h	9.1017	+0.125%	$302K	$1.5M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	9.0907	+0.005%	$32K	—	3x	as long as short
dYdX UNI-USDlong	+0.0193%	1h	9.0903	long leg	$239K	$30K	10x
BloFin UNI-USDT	+0.0220%	8h	9.1120	+0.239%	—	$3.6M	75x	as long as short
Kraken Futures PF_UNIUSD	+0.0269%	1h	9.1112	+0.230%	$5.1M	$7.2M	50x	as long as short
Coinbase International UNI-PERP-INTX	+0.0296%	1h	9.1140	+0.261%	$1.1M	$5.0M	50x	as long as short
Reya UNIRUSDPERP	+0.0370%	1h	9.1052	+0.164%	$17K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0244%	1h	9.1062	+0.175%	$648K	—	120x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0442%	1h	9.1129	+0.250%	$587K	$191K	50x	as long as short
Hyperliquid UNI	+0.0556%	1h	9.1300	+0.437%	$99.6M	$59.1M	10x	as long as short
Lighter UNI	+0.0592%	1h	9.1262	+0.395%	$4.7M	$5.6M	15x	as long as short
Aftermath Perps UNIUSD	+0.0953%	1h	9.1021	+0.131%	$874	$47K	10x	as long as short