Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0439%/8h= +48.1% APRpaid last 24h +0.047%

Price spread now: Hyperliquid against edgeX+0.723%7-day average +0.089% · you sell dearer than you buy

Net, funding: paid 7d − costs−$13as in the Funding arb table

Net, price: spread back to 7d avg − costs+$34as in the Price arb table

costs, in and out, $10k−$300.298% of the position

Long on edgeX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.165%+$17 on $10k

Price spread, last 4 days (all we have)−0.634%−$63 · spread now +0.723%, 7d avg +0.089%

Together, before fees−0.469%+ Points / potential airdropedgeX: Active · Hyperliquid: Season 2 · farm board−$47 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$13 a day on $10k at the current rate, and Hyperliquid is 0.634% dearer against edgeX than usual: you sell high and buy low: +$63 more if the spread goes back to its 7-day average of +0.089%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.165% in total (about 8.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX UNIUSDC	9.1440	0.0100	pay 0.0050% / 4h	1h 21m	$172K	$343K	20x
Short	Hyperliquid UNI	9.2101	0.0539	get 0.0067% / 1h	21m 09s	$100.1M	$60.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against edgeX. 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 edgeXbpFee HyperliquidbpOrdersPrice spread, now +0.723%Rate

Funding earned: $92.29
Price spread: +0.723% → +0.089%: $63.41
Slippage, 4 orders: −$11.77
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $125.93
Costs to cover: 0.298%
Break-even: from the start

Slippage from edgeX: live order book, 42 min ago; Hyperliquid: live order book, 13 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, 42 min ago	2.18 bp	6.8 bp −$7	14.7 bp −$147	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 13 min ago	0.05 bp	7.4 bp −$7	doesn't fit	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
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0009%	1h	9.1947	+0.555%	$31K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−3.434%	$660	$154K	12x	as long as short
01 Exchange UNIUSD	+0.0048%	1h	9.1959	+0.568%	$459	$5	10x	as long as short
Nado UNI-PERP	+0.0100%	1h	9.1887	+0.490%	$964K	$4.3M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	9.1969	+0.579%	$1.0M	$2.9M	50x	as long as short
Pacifica UNI	+0.0100%	1h	9.1908	+0.512%	$300K	$567K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	9.1961	+0.571%	$228.7M	$610.6M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	9.1940	+0.547%	$103.4M	$108.2M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	9.1940	+0.547%	$56.9M	$255.4M	50x	as long as short
Arcus UNI-USD	+0.0100%	1h	9.2020	+0.635%	$292K	$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	9.1960	+0.569%	$23.6M	$60.2M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	9.1900	+0.503%	$49.6M	$25.2M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	9.1980	+0.591%	$13.8M	$12.9M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	9.1930	+0.536%	$33.7M	$42.6M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	9.1940	+0.547%	—	$6.5M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	9.1976	+0.587%	$998K	$2.2M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	9.1366	−0.080%	$4.3M	$4.3M	—	as long as short
edgeX UNIUSDClong	+0.0100%	4h	9.1440	long leg	$172K	$343K	20x
GRVT UNI_USDT_Perp	+0.0100%	8h	9.2276	+0.915%	$646K	$2.6M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	9.2060	+0.678%	$90K	$693K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	9.2040	+0.657%	$41K	$3.3M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	9.1949	+0.557%	$88K	$414K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	9.1960	+0.569%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	9.2001	+0.614%	$37K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	9.1957	+0.566%	$22K	$770K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	9.1989	+0.601%	$723K	$4.4M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	9.1960	+0.569%	$27.8M	$4.5M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	9.1928	+0.534%	$26K	—	20x	as long as short
Extended UNI-USD	+0.0104%	1h	9.1897	+0.500%	$306K	$1.5M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	9.1941	+0.548%	$33K	—	3x	as long as short
dYdX UNI-USD	+0.0123%	1h	9.1853	+0.452%	$242K	$30K	10x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0213%	1h	9.1998	+0.610%	$589K	$193K	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	9.1990	+0.602%	$10.5M	$3.6M	75x	as long as short
Kraken Futures PF_UNIUSD	+0.0267%	1h	9.2017	+0.631%	$5.1M	$7.5M	50x	as long as short
Coinbase International UNI-PERP-INTX	+0.0296%	1h	9.1980	+0.591%	$1.1M	$5.2M	50x	as long as short
Reya UNIRUSDPERP	+0.0370%	1h	9.1892	+0.494%	$17K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0244%	1h	9.1940	+0.547%	$655K	—	120x	as long as short
Hyperliquid UNIshort	+0.0539%	1h	9.2101	+0.723%	$100.1M	$60.0M	10x
Lighter UNI	+0.0576%	1h	9.2092	+0.713%	$4.7M	$5.7M	15x	as long as short
Aftermath Perps UNIUSD	+0.0906%	1h	9.1714	+0.300%	$987	$47K	10x	as long as short