Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Phemex against Extended+0.180%7-day average +0.101% · you sell dearer than you buy

Net, funding: paid 7d − costs−$65as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$560.563% of the position

Long on Extended Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.084%−$8 on $10k

Price spread, last 3 days (all we have)+0.021%+$2 · spread now +0.180%, 7d avg +0.101%

Together, before fees−0.063%+ Points / potential airdropExtended: Active · farm board−$6 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: Phemex is 0.079% dearer against Extended than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of +0.101%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended UNI-USD	9.1485	0.0104	pay 0.0013% / 1h	13m 34s	$309K	$1.6M	25x
Short	Phemex UNIUSDT	9.1650	0.0100	get 0.0100% / 8h	7h 13m	$27.6M	$4.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Extended. 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 ExtendedbpFee PhemexbpOrdersPrice spread, now +0.180%Rate

Funding earned: −$0.84
Price spread: +0.180% → +0.101%: $7.9
Slippage, 4 orders: −$39.29
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$49.23
Costs to cover: 0.563%
Break-even: never at this rate

Slippage from Extended: live order book, 5 min ago; Phemex: 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 Extended live order book, 5 min ago	0.87 bp	3.5 bp −$3	10.7 bp −$107	doesn't fit	doesn't fit
Sell Phemex live order book, 5 min ago	12.01 bp	22.1 bp −$22	53.4 bp −$534	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 −0.0006%	1h	9.1630	+0.158%	$49K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−3.482%	$660	$154K	12x	as long as short
01 Exchange UNIUSD	+0.0080%	1h	9.1550	+0.071%	$457	—	10x	as long as short
Nado UNI-PERP	+0.0100%	1h	9.1580	+0.104%	$980K	$4.3M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	9.1636	+0.165%	$1.1M	$2.9M	50x	as long as short
Pacifica UNI	+0.0100%	1h	9.1570	+0.093%	$305K	$589K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	9.1640	+0.170%	$232.8M	$603.0M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	9.1610	+0.137%	$103.2M	$107.9M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	9.1590	+0.115%	$56.5M	$256.4M	50x	as long as short
Arcus UNI-USD	+0.0100%	1h	9.1640	+0.169%	$282K	$622K	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	9.1540	+0.060%	$23.4M	$60.4M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	9.1560	+0.082%	$46.7M	$24.6M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	9.1560	+0.082%	$13.6M	$13.6M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	9.1590	+0.115%	$33.8M	$43.1M	75x	as long as short
BingX UNI-USDT	+0.0100%	8h	9.1540	+0.060%	—	$57.0M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	9.1624	+0.152%	$1.0M	$2.4M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	9.1621	+0.148%	$4.2M	$4.4M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	9.1624	+0.151%	$173K	$346K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	9.1570	+0.093%	$638K	$2.6M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	9.1590	+0.115%	$89K	$706K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	9.1630	+0.158%	$56K	$3.3M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	9.1670	+0.202%	$85K	$386K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	9.1630	+0.158%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	9.1656	+0.187%	$37K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	9.1639	+0.168%	$22K	$711K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	9.1758	+0.298%	$724K	$4.4M	75x	as long as short
Phemex UNIUSDTshort	+0.0100%	8h	9.1650	+0.180%	$27.6M	$4.5M	50x
Paradex UNI-USD-PERP	+0.0100%	8h	9.1504	+0.021%	$26K	—	20x	as long as short
Extended UNI-USDlong	+0.0104%	1h	9.1485	long leg	$309K	$1.6M	25x
Aevo UNI-PERP	+0.0104%	1h	9.1621	+0.149%	$33K	—	3x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0158%	1h	9.1665	+0.197%	$592K	$185K	50x	as long as short
dYdX UNI-USD	+0.0196%	1h	9.1515	+0.033%	$246K	$24K	10x	as long as short
BloFin UNI-USDT	+0.0220%	8h	9.1600	+0.126%	$10.6M	$3.6M	75x	as long as short
Coinbase International UNI-PERP-INTX	+0.0272%	1h	9.1690	+0.224%	$1.1M	$4.9M	50x	as long as short
Reya UNIRUSDPERP	+0.0367%	1h	9.1568	+0.091%	$17K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0323%	1h	9.1625	+0.153%	$579K	—	120x	as long as short
Kraken Futures PF_UNIUSD	+0.0383%	1h	9.1684	+0.217%	$5.1M	$7.1M	50x	as long as short
Hyperliquid UNI	+0.0539%	1h	9.1690	+0.224%	$101.1M	$59.9M	10x	as long as short
Lighter UNI	+0.0960%	1h	9.1741	+0.280%	$4.7M	$5.3M	15x	as long as short
Aftermath Perps UNIUSD	+0.1012%	1h	9.1909	+0.464%	$1K	$49K	10x	as long as short