Funding arb · Price arb /

UNI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0076%/8h= −8.3% APRpaid last 24h −0.059%

Price spread now: Variational Omni against dYdX+0.095%7-day average −0.020% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on dYdX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.341%−$34 on $10k

Price spread, last 4 days (all we have)+0.230%+$23 · spread now +0.095%, 7d avg −0.020%

Together, before fees−0.111%+ Points / potential airdropVariational Omni: Active · farm board−$11 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Variational Omni is 0.114% dearer against dYdX than usual: you sell high and buy low (spread +0.095% now, against its 7-day average of −0.020%): +$11 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 5.0 days. At the pace of the last 4 days (−0.341% in total) that is about 29 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX UNI-USD	8.8337	0.0176	pay 0.0022% / 1h	39m 36s	$233K	$31K	10x
Short	Variational Omni UNI	8.8420	0.0100	get 0.0100% / 8h	2h 39m	$4.1M	$4.2M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.095%Rate

Funding earned: −$15.88
Price spread: +0.095% → −0.020%: $11.45
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$14.43
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: dYdX: live order book, 9 min ago; Variational Omni: RFQ quote, 5 min ago. Net counts fees only.

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, 9 min ago	109.64 bp	114.6 bp −$115	114.6 bp −$1,146	251.1 bp −$25.1K	602.9 bp −$301.5K
Sell Variational Omni RFQ quote, 5 min ago	3.27 bp	doesn't fit	15.3 bp −$153	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
Nado UNI-PERP	−0.0134%	1h	8.8257	−0.090%	$797K	$4.7M	10x	as long as short
01 Exchange UNIUSD	−0.0072%	1h	8.8336	−0.001%	$441	$5	10x	as long as short
Kraken Futures PF_UNIUSD	−0.0017%	1h	8.8350	+0.015%	$4.7M	$8.5M	50x	as long as short
Deribit UNI_USDC-PERPETUAL	0.0000%	1h	8.8381	+0.051%	$566K	$202K	50x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0007%	1h	8.8321	−0.017%	$48K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−0.042%	$660	$153K	12x	as long as short
Polymarket Perps UNI-USD	+0.0065%	1h	8.8330	−0.008%	$99K	$499K	10x	as long as short
Lighter UNI	+0.0096%	1h	8.8446	+0.124%	$4.4M	$5.5M	15x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.8336	−0.001%	$25K	—	20x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.8350	+0.015%	$749K	$3.6M	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	8.8370	+0.038%	$283K	$612K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	8.8330	−0.008%	$214.6M	$658.5M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	8.8310	−0.030%	$98.7M	$112.5M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	8.8320	−0.019%	$53.4M	$262.3M	50x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.8430	+0.106%	$315K	$700K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.8320	−0.019%	$23.5M	$64.7M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.8350	+0.015%	$46.5M	$26.3M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.8290	−0.053%	$13.0M	$13.5M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.8330	−0.008%	$32.5M	$46.5M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	8.8340	+0.004%	—	$6.5M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	8.8387	+0.057%	$1.0M	$2.4M	10x	as long as short
Variational Omni UNIshort	+0.0100%	8h	8.8420	+0.095%	$4.1M	$4.2M	—
edgeX UNIUSDC	+0.0100%	4h	8.8752	+0.470%	$168K	$344K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.8350	+0.015%	$616K	$2.7M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.8530	+0.219%	$91K	$706K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.8290	−0.053%	$15K	$3.4M	20x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.8330	−0.008%	$16K	$1.6M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.8309	−0.031%	$36K	$1.4M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.8310	−0.030%	$22K	$852K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.8420	+0.094%	$705K	$5.0M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.8330	−0.008%	$26.8M	$4.3M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	8.8252	−0.095%	$294K	$1.7M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.8330	−0.008%	$31K	—	3x	as long as short
Hyperliquid UNI	+0.0113%	1h	8.8478	+0.160%	$94.2M	$66.3M	10x	as long as short
dYdX UNI-USDlong	+0.0176%	1h	8.8337	long leg	$233K	$31K	10x
Coinbase International UNI-PERP-INTX	+0.0184%	1h	8.8450	+0.128%	$926K	$5.8M	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.8440	+0.117%	$10.0M	$3.6M	75x	as long as short
Reya UNIRUSDPERP	+0.0376%	1h	8.8344	+0.008%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0244%	1h	8.8310	−0.030%	$628K	—	120x	as long as short
Aftermath Perps UNIUSD	+0.0636%	1h	8.8740	+0.456%	$927	$45K	10x	as long as short