Funding arb · Price arb /

UNI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.003%

Price spread now: Backpack against edgeX−0.205%85s7-day average +0.033% · you buy dearer than you sell

Net, funding: paid 7d − costs−$32as 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−$300.303% of the position

Long on edgeX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.013%−$1 on $10k

Price spread, last 3 days (all we have)+0.248%+$25 · spread now −0.205%, 7d avg +0.033%

Together, before fees+0.235%+ Points / potential airdropedgeX: Active · farm board+$23 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.238% cheaper against edgeX than usual: you would sell low and buy high, −$24 on $10k if it goes back to its 7-day average of +0.033%. The two prices were read 85 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	edgeX UNIUSDC	8.9868	0.0100	pay 0.0050% / 4h	12m 03s	$169K	$345K	20x
Short	Backpack UNI_USDC_PERP	8.9684	0.0100	get 0.0013% / 1h	12m 03s	$1.1M	$2.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against edgeX. 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 edgeXbpFee BackpackbpOrdersPrice spread, now −0.205%Rate

Funding earned: $0
Price spread: −0.205% → +0.033%: −$23.77
Slippage, 4 orders: −$11.31
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$54.08
Costs to cover: 0.303%
Break-even: never at this rate

Slippage from edgeX: live order book, 1 min ago; Backpack: live order book, 2 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 edgeX live order book, 1 min ago	2.79 bp	7.5 bp −$8	16.0 bp −$160	doesn't fit	doesn't fit
Sell Backpack live order book, 2 min ago	0.39 bp	9.5 bp −$10	122.3 bp −$1,223	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
Injective UNI/USDC PERP	−0.0049%	1h	8.8300	−1.745%	$660	$155K	12x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0004%	1h	8.9654	−0.238%	$62K	—	150x	as long as short
Variational Omni UNI	+0.0072%	8h	8.9762	−0.118%	$4.1M	$4.4M	—	as long as short
OKX UNI-USDT-SWAP	+0.0088%	8h	8.9660	−0.231%	$54.8M	$249.2M	50x	as long as short
Nado UNI-PERP	+0.0100%	1h	8.9540	−0.365%	$945K	$4.2M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.9646	−0.247%	$1.0M	$3.3M	50x	as long as short
Pacifica UNI	+0.0100%	1h	8.9596	−0.303%	$296K	$591K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	8.9671	−0.219%	$222.2M	$590.9M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	8.9650	−0.242%	$101.5M	$105.3M	75x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.9660	−0.231%	$269K	$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	8.9580	−0.320%	$22.9M	$59.1M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.9640	−0.254%	$43.7M	$24.1M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.9600	−0.298%	$13.6M	$13.5M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.9600	−0.298%	$32.7M	$42.0M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	8.9610	−0.287%	—	$6.5M	—	as long as short
Backpack UNI_USDC_PERPshort	+0.0100%	1h	8.9684	−0.205%	$1.1M	$2.4M	10x
edgeX UNIUSDClong	+0.0100%	4h	8.9868	long leg	$169K	$345K	20x
GRVT UNI_USDT_Perp	+0.0100%	8h	8.9858	−0.011%	$628K	$2.5M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.9920	+0.058%	$88K	$710K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.9890	+0.025%	$36K	$3.3M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.9651	−0.241%	$85K	$365K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.9620	−0.276%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.9718	−0.167%	$36K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.9596	−0.303%	$21K	$676K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.9685	−0.204%	$718K	$4.3M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.9630	−0.265%	$27.0M	$4.5M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.9534	−0.371%	$26K	—	20x	as long as short
Extended UNI-USD	+0.0104%	1h	8.9593	−0.306%	$302K	$1.5M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.9639	−0.255%	$32K	$1K	3x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0144%	1h	8.9697	−0.190%	$577K	$176K	50x	as long as short
01 Exchange UNIUSD	+0.0168%	1h	8.9616	−0.280%	$447	—	10x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.9740	−0.142%	$10.0M	$3.5M	75x	as long as short
Coinbase International UNI-PERP-INTX	+0.0232%	1h	8.9680	−0.209%	$1.1M	$5.4M	50x	as long as short
dYdX UNI-USD	+0.0286%	1h	8.9637	−0.256%	$248K	$6K	10x	as long as short
Reya UNIRUSDPERP	+0.0365%	1h	8.9599	−0.299%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0382% / S −0.0323%	1h	8.9652	−0.241%	$567K	—	120x	as long as short
Hyperliquid UNI	+0.0484%	1h	8.9730	−0.153%	$98.4M	$59.5M	10x	as long as short
Kraken Futures PF_UNIUSD	+0.0565%	1h	8.9646	−0.246%	$5.0M	$7.0M	50x	as long as short
Aftermath Perps UNIUSD	+0.0866%	1h	8.9867	−0.001%	$1K	$49K	10x	as long as short
Lighter UNI	+0.0904%	1h	8.9788	−0.089%	$4.6M	$5.3M	15x	as long as short