Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0397%/8h= −43.5% APRpaid last 24h −0.073%

Price spread now: Bybit against dYdX−0.147%7-day average −0.076% · you buy dearer than you sell

Net, funding: paid 7d − costs−$173as in the Funding arb table

Net, price: spread back to 7d avg − costs−$151as in the Price arb table

costs, in and out, $10k−$1441.437% of the position

Long on dYdX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.290%−$29 on $10k

Price spread, last 4 days (all we have)+0.130%+$13 · spread now −0.147%, 7d avg −0.076%

Together, before fees−0.160%−$16 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and Bybit is 0.071% cheaper against dYdX than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.076%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX UNI-USD	8.8150	0.0205	pay 0.0026% / 1h	50m 27s	$244K	$5K	10x
Short	Bybit UNIUSDT	8.8020	−0.0192	pay 0.0192% / 8h	2h 50m	$102.5M	$103.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.147%Rate

Funding earned: −$83.44
Price spread: −0.147% → −0.076%: −$7.13
Slippage, 4 orders: −$122.71
Fee dYdX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$234.28
Costs to cover: 1.437%
Break-even: never at this rate

Slippage from dYdX: live order book, 38 min ago; Bybit: 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, 38 min ago	56.32 bp	61.3 bp −$61	65.2 bp −$652	111.7 bp −$11.2K	408.7 bp −$204.3K
Sell Bybit live order book, 4 min ago	0.57 bp	8.8 bp −$9	18.9 bp −$189	48.1 bp −$4,807	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	−0.0200%	8h	8.7965	−0.209%	$3.9M	$4.6M	—	as long as short
Bybit UNIUSDTshort	−0.0192%	8h	8.8020	−0.147%	$102.5M	$103.9M	75x
01 Exchange UNIUSD	−0.0056%	1h	8.8162	+0.014%	$440	—	10x	as long as short
Deribit UNI_USDC-PERPETUAL	0.0000%	1h	8.8074	−0.086%	$550K	$125K	50x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0006%	1h	8.8131	−0.022%	$79K	—	150x	as long as short
OKX UNI-USDT-SWAP	+0.0008%	8h	8.8040	−0.125%	$54.3M	$244.4M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.8133	−0.019%	$25K	—	20x	as long as short
Nado UNI-PERP	+0.0100%	1h	8.8102	−0.054%	$848K	$3.9M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.8182	+0.036%	$1.0M	$3.4M	50x	as long as short
Pacifica UNI	+0.0100%	1h	8.8143	−0.008%	$297K	$559K	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance UNIUSDT	+0.0100%	8h	8.8069	−0.091%	$215.7M	$593.6M	75x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.8210	+0.068%	$272K	$605K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.8060	−0.102%	$22.9M	$58.9M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.8150	0.000%	$42.7M	$24.4M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.8110	−0.045%	$13.7M	$13.6M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.8110	−0.045%	$31.9M	$41.0M	75x	as long as short
BingX UNI-USDT	+0.0100%	8h	8.8050	−0.113%	—	$49.8M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	8.8087	−0.071%	$975K	$2.4M	10x	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.8216	+0.075%	$166K	$343K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.8310	+0.182%	$619K	$2.6M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.8260	+0.125%	$83K	$713K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.8060	−0.102%	$105K	$3.2M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.8146	−0.005%	$87K	$324K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.8060	−0.102%	$15K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.8075	−0.085%	$36K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.7990	−0.182%	$28K	$659K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.8240	+0.102%	$721K	$4.3M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.8070	−0.091%	$26.5M	$4.3M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	8.8095	−0.062%	$307K	$1.4M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.8109	−0.046%	$31K	$1K	3x	as long as short
Coinbase International UNI-PERP-INTX	+0.0200%	1h	8.8280	+0.147%	$1.0M	$5.3M	50x	as long as short
dYdX UNI-USDlong	+0.0205%	1h	8.8150	long leg	$244K	$5K	10x
BloFin UNI-USDT	+0.0220%	8h	8.8060	−0.102%	$9.8M	$3.3M	75x	as long as short
Kraken Futures PF_UNIUSD	+0.0270%	1h	8.8058	−0.105%	$4.9M	$7.1M	50x	as long as short
Reya UNIRUSDPERP	+0.0359%	1h	8.8097	−0.061%	$16K	—	20x	as long as short
Hyperliquid UNI	+0.0378%	1h	8.8255	+0.119%	$95.8M	$59.6M	10x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0380% / S −0.0320%	1h	8.8108	−0.047%	$552K	—	120x	as long as short
Lighter UNI	+0.0472%	1h	8.8301	+0.171%	$4.5M	$5.3M	15x	as long as short
Aftermath Perps UNIUSD	+0.0484%	1h	8.8179	+0.033%	$1K	$50K	10x	as long as short
Injective UNI/USDC PERP	+0.2702%	1h	8.7900	−0.284%	$657	$97K	12x	as long as short