Funding arb · Price arb /

UNI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0079%/8h= +8.6% APRpaid last 24h −0.057%

Price spread now: GRVT against dYdX−0.382%50s7-day average +0.051% · you buy dearer than you sell

Net, funding: paid 7d − costs−$118as 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−$930.926% of the position

Long on dYdX Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.252%−$25 on $10k

Price spread, last 4 days (all we have)+0.829%+$83 · spread now −0.382%, 7d avg +0.051%

Together, before fees+0.577%+ Points / potential airdropGRVT: Active · farm board+$58 on $10k · with fees, hour by hour

Funding pays, the price is against you. GRVT is 0.434% cheaper against dYdX than usual: you would sell low and buy high (spread −0.382% now, against its 7-day average of +0.051%). If the spread goes back, that is −$43 on $10k: about 18 days of funding at the current rate (+$2 a day). Mind the row above: over the last 7 days funding on this pair cost −0.252%, so the current rate has only just turned in your favour. The two prices were read 50 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	9.0304	0.0021	pay 0.0003% / 1h	28m 35s	$238K	$30K	10x
Short	GRVT UNI_USDT_Perp	8.9959	0.0100	get 0.0100% / 8h	6h 28m	$630K	$2.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against dYdX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 GRVTbpOrdersPrice spread, now −0.382%Rate

Funding earned: $16.54
Price spread: −0.382% → +0.051%: −$43.36
Slippage, 4 orders: −$73.6
Fee dYdX: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$119.42
Costs to cover: 0.926%
Break-even: 57.5 days

Slippage from dYdX: live order book, 40 min ago; GRVT: 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 dYdX live order book, 40 min ago	25.60 bp	30.9 bp −$31	31.2 bp −$312	93.1 bp −$9,313	321.4 bp −$160.7K
Sell GRVT live order book, 5 min ago	3.89 bp	12.6 bp −$13	27.0 bp −$270	doesn't fit	doesn't fit

UNI on 39 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-PERPETUAL	0.0000%	1h	9.0264	−0.045%	$586K	$200K	50x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0004%	1h	9.0267	−0.041%	$19K	—	150x	as long as short
dYdX UNI-USDlong	+0.0021%	1h	9.0304	long leg	$238K	$30K	10x
01 Exchange UNIUSD	+0.0032%	1h	9.0322	+0.020%	$451	—	10x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−2.219%	$660	$154K	12x	as long as short
Nado UNI-PERP	+0.0100%	1h	9.0295	−0.010%	$942K	$4.3M	10x	as long as short
Hyperliquid UNI	+0.0100%	1h	9.0352	+0.053%	$98.1M	$60.2M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	9.0340	+0.040%	$1.0M	$2.9M	50x	as long as short
Pacifica UNI	+0.0100%	1h	9.0336	+0.035%	$296K	$574K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	9.0298	−0.006%	$225.3M	$611.0M	75x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit UNIUSDT	+0.0100%	8h	9.0300	−0.004%	$101.0M	$107.5M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	9.0300	−0.004%	$55.7M	$253.6M	50x	as long as short
Arcus UNI-USD	+0.0100%	1h	9.0420	+0.128%	$286K	$641K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	9.0330	+0.029%	$23.1M	$58.6M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	9.0350	+0.051%	$49.5M	$26.1M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	9.0270	−0.038%	$13.4M	$13.7M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	9.0320	+0.018%	$33.1M	$42.8M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	9.0350	+0.051%	—	$6.5M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	9.0241	−0.070%	$990K	$2.4M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	9.0181	−0.136%	$4.1M	$4.3M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	9.0270	−0.038%	$170K	$346K	20x	as long as short
GRVT UNI_USDT_Perpshort	+0.0100%	8h	8.9959	−0.382%	$630K	$2.6M	10x
ApeX Omni UNIUSDT	+0.0100%	1h	9.0300	−0.004%	$88K	$699K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	9.0400	+0.106%	$56K	$3.3M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	9.0372	+0.075%	$86K	$410K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	9.0230	−0.082%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	9.0334	+0.033%	$37K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	9.0220	−0.093%	$22K	$710K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	9.0400	+0.106%	$718K	$4.2M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	9.0230	−0.082%	$27.2M	$4.5M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	9.0322	+0.020%	$26K	—	20x	as long as short
Extended UNI-USD	+0.0104%	1h	9.0301	−0.003%	$300K	$1.5M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	9.0246	−0.064%	$32K	—	3x	as long as short
Coinbase International UNI-PERP-INTX	+0.0312%	1h	9.0250	−0.060%	$1.1M	$4.7M	50x	as long as short
Reya UNIRUSDPERP	+0.0368%	1h	9.0313	+0.010%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0244%	1h	9.0274	−0.033%	$644K	—	120x	as long as short
Lighter UNI	+0.0400%	1h	9.0417	+0.125%	$4.6M	$5.3M	15x	as long as short
Kraken Futures PF_UNIUSD	+0.0425%	1h	9.0212	−0.102%	$5.0M	$6.9M	50x	as long as short
Aftermath Perps UNIUSD	+0.0940%	1h	9.0194	−0.122%	$1K	$48K	10x	as long as short