Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0023%/8h= −2.5% APRpaid last 24h −0.037%

Price spread now: KuCoin against dYdX+0.031%7-day average −0.019% · you sell dearer than you buy

Net, funding: paid 7d − costs−$145as in the Funding arb table

Net, price: spread back to 7d avg − costs−$112as in the Price arb table

costs, in and out, $10k−$1171.173% of the position

Long on dYdX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.273%−$27 on $10k

Price spread, last 4 days (all we have)−0.037%−$4 · spread now +0.031%, 7d avg −0.019%

Together, before fees−0.310%−$31 on $10k · with fees, hour by hour

The price spread pays, funding is against you. KuCoin is 0.050% dearer against dYdX than usual: you sell high and buy low (spread +0.031% now, against its 7-day average of −0.019%): +$5 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 7.3 days. At the pace of the last 7 days (−0.273% in total) that is about 31 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX UNI-USD	9.1072	0.0123	pay 0.0015% / 1h	33m 47s	$240K	$30K	10x
Short	KuCoin UNIUSDTM	9.1100	0.0100	get 0.0100% / 8h	5h 33m	$13.6M	$12.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.031%Rate

Funding earned: −$4.8
Price spread: +0.031% → −0.019%: $4.98
Slippage, 4 orders: −$95.26
Fee dYdX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$117.07
Costs to cover: 1.173%
Break-even: never at this rate

Slippage from dYdX: live order book, 30 min ago; KuCoin: 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, 30 min ago	33.44 bp	38.4 bp −$38	38.4 bp −$384	89.7 bp −$8,967	442.6 bp −$221.3K
Sell KuCoin live order book, 5 min ago	2.76 bp	15.1 bp −$15	20.7 bp −$207	54.0 bp −$5,399	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 −0.0008%	1h	9.0945	−0.140%	$28K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−3.044%	$660	$154K	12x	as long as short
01 Exchange UNIUSD	+0.0064%	1h	9.0930	−0.156%	$454	$5	10x	as long as short
Nado UNI-PERP	+0.0100%	1h	9.0865	−0.227%	$948K	$4.3M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	9.1099	+0.029%	$1.0M	$2.9M	50x	as long as short
Pacifica UNI	+0.0100%	1h	9.1110	+0.042%	$297K	$568K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	9.1130	+0.064%	$226.9M	$609.6M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	9.1060	−0.013%	$102.3M	$107.9M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	9.1080	+0.009%	$56.2M	$252.6M	50x	as long as short
Arcus UNI-USD	+0.0100%	1h	9.0960	−0.123%	$288K	$614K	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	9.1000	−0.079%	$23.5M	$59.7M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	9.1110	+0.042%	$49.3M	$25.1M	200x	as long as short
KuCoin UNIUSDTMshort	+0.0100%	8h	9.1100	+0.031%	$13.6M	$12.9M	75x
Bitget UNIUSDT	+0.0100%	8h	9.1030	−0.046%	$33.4M	$42.6M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	9.1010	−0.068%	—	$6.5M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	9.1079	+0.008%	$989K	$2.2M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	9.1137	+0.072%	$4.2M	$4.3M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	9.0550	−0.573%	$171K	$345K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	9.0749	−0.354%	$631K	$2.6M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	9.0620	−0.496%	$89K	$694K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	9.1340	+0.295%	$40K	$3.3M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	9.0914	−0.173%	$88K	$412K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	9.1010	−0.068%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	9.0999	−0.080%	$37K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	9.1036	−0.039%	$22K	$760K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	9.0969	−0.113%	$714K	$4.4M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	9.1140	+0.075%	$27.5M	$4.5M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	9.1091	+0.021%	$26K	—	20x	as long as short
Extended UNI-USD	+0.0104%	1h	9.0984	−0.096%	$303K	$1.5M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	9.1025	−0.052%	$32K	—	3x	as long as short
dYdX UNI-USDlong	+0.0123%	1h	9.1072	long leg	$240K	$30K	10x
BloFin UNI-USDT	+0.0220%	8h	9.1220	+0.163%	$10.5M	$3.6M	75x	as long as short
Kraken Futures PF_UNIUSD	+0.0269%	1h	9.1112	+0.045%	$5.1M	$7.3M	50x	as long as short
Coinbase International UNI-PERP-INTX	+0.0296%	1h	9.0940	−0.145%	$1.1M	$5.0M	50x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0297%	1h	9.1068	−0.004%	$585K	$192K	50x	as long as short
Reya UNIRUSDPERP	+0.0370%	1h	9.0874	−0.218%	$17K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0244%	1h	9.0959	−0.124%	$647K	—	120x	as long as short
Hyperliquid UNI	+0.0522%	1h	9.1174	+0.112%	$98.8M	$59.7M	10x	as long as short
Lighter UNI	+0.0576%	1h	9.1224	+0.167%	$4.7M	$5.6M	15x	as long as short
Aftermath Perps UNIUSD	+0.0964%	1h	9.0997	−0.083%	$883	$47K	10x	as long as short