Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0105%/8h= +11.5% APRpaid last 24h −0.007%

Price spread now: BloFin against dYdX+0.090%92s7-day average +0.016% · you sell dearer than you buy

Net, funding: paid 7d − costs−$88as 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−$870.866% of the position

Long on dYdX Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.017%−$2 on $10k

Price spread, last 3 days (all we have)−0.016%−$2 · spread now +0.090%, 7d avg +0.016%

Together, before fees−0.032%−$3 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 BloFin is 0.074% dearer against dYdX than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.016%. The two prices were read 92 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	dYdX UNI-USD	8.9240	0.0115	pay 0.0014% / 1h	9m 32s	$247K	$6K	10x
Short	BloFin UNI-USDT	8.9320	0.0220	get 0.0220% / 8h	1h 09m	$9.9M	$3.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.090%Rate

Funding earned: $21.97
Price spread: +0.090% → +0.016%: $7.41
Slippage, 4 orders: −$64.65
Fee dYdX: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$57.26
Costs to cover: 0.866%
Break-even: 25.2 days

Slippage from dYdX: live order book, 10 min ago; BloFin: 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, 10 min ago	27.53 bp	32.5 bp −$33	119.9 bp −$1,199	152.6 bp −$15.3K	376.9 bp −$188.5K
Sell BloFin live order book, 4 min ago	1.12 bp	10.3 bp −$10	15.4 bp −$154	46.2 bp −$4,624	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	−0.0038%	8h	8.9363	+0.138%	$4.0M	$4.6M	—	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0004%	1h	8.9212	−0.031%	$62K	—	150x	as long as short
Bybit UNIUSDT	+0.0013%	8h	8.9250	+0.011%	$101.9M	$104.8M	75x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−1.053%	$660	$155K	12x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0056%	1h	8.9264	+0.027%	$567K	$157K	50x	as long as short
OKX UNI-USDT-SWAP	+0.0056%	8h	8.9280	+0.045%	$55.1M	$246.6M	50x	as long as short
01 Exchange UNIUSD	+0.0080%	1h	8.9334	+0.105%	$446	—	10x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.9219	−0.023%	$25K	—	20x	as long as short
Nado UNI-PERP	+0.0100%	1h	8.9250	+0.011%	$943K	$4.1M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.9304	+0.072%	$1.0M	$3.3M	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	8.9238	−0.002%	$297K	$584K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	8.9277	+0.041%	$219.7M	$590.3M	75x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.9320	+0.090%	$275K	$621K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.9230	−0.011%	$23.0M	$58.9M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.9240	0.000%	$43.1M	$24.6M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.9180	−0.067%	$13.6M	$13.8M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.9270	+0.034%	$32.4M	$41.3M	75x	as long as short
BingX UNI-USDT	+0.0100%	8h	8.9230	−0.011%	—	$51.7M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	8.9259	+0.021%	$991K	$2.3M	10x	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.9326	+0.096%	$168K	$343K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.9094	−0.164%	$628K	$2.5M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.9000	−0.269%	$88K	$712K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.9140	−0.112%	$106K	$3.2M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.9308	+0.076%	$87K	$356K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.9220	−0.022%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.9284	+0.049%	$36K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.9249	+0.010%	$25K	$666K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.9414	+0.195%	$731K	$4.3M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.9180	−0.067%	$26.8M	$4.4M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	8.9199	−0.046%	$302K	$1.5M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.9238	−0.002%	$32K	$1K	3x	as long as short
dYdX UNI-USDlong	+0.0115%	1h	8.9240	long leg	$247K	$6K	10x
BloFin UNI-USDTshort	+0.0220%	8h	8.9320	+0.090%	$9.9M	$3.4M	75x
Coinbase International UNI-PERP-INTX	+0.0224%	1h	8.9330	+0.101%	$1.1M	$5.3M	50x	as long as short
Kraken Futures PF_UNIUSD	+0.0339%	1h	8.9324	+0.095%	$5.0M	$7.0M	50x	as long as short
Reya UNIRUSDPERP	+0.0363%	1h	8.9270	+0.033%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0379% / S −0.0319%	1h	8.9190	−0.056%	$558K	—	120x	as long as short
Hyperliquid UNI	+0.0424%	1h	8.9316	+0.085%	$98.4M	$59.3M	10x	as long as short
Aftermath Perps UNIUSD	+0.0647%	1h	8.9190	−0.056%	$1K	$49K	10x	as long as short
Lighter UNI	+0.0648%	1h	8.9405	+0.185%	$4.6M	$5.2M	15x	as long as short