Funding arb · Price arb /

UNI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0096%/8h= +10.5% APRpaid last 24h +0.029%

Price spread now: Phemex against gTrade (Gains Network)+0.025%7-day average — · you sell dearer than you buy

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

Long on gTrade (Gains Network)Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Phemex is 0.025% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$3 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) UNI/USD	8.9558	L +0.0004% / S −0.0005%	pay 0.0001% / 1h	3m 55s	$77K	—	150x
Short	Phemex UNIUSDT	8.9580	0.0100	get 0.0100% / 8h	7h 03m	$27.0M	$4.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee PhemexbpOrdersPrice spread, now +0.025%Rate

Funding earned: $20.14
Price spread: +0.025% → 0.000%: $2.5
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: $0.64
Costs to cover: 0.220%
Break-even: 6.8 days

Slippage unknown: gTrade (Gains Network): no order-book sample; Phemex: live order book, 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell Phemex live order book, 5 min ago	3.34 bp	16.2 bp −$16	24.5 bp −$245	doesn't fit	doesn't fit

gTrade (Gains Network): no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Kraken Futures PF_UNIUSD	−0.0062%	1h	8.9584	+0.030%	$4.7M	$8.4M	50x	as long as short
gTrade (Gains Network) UNI/USDlong	L +0.0004% / S −0.0005%	1h	8.9558	long leg	$77K	—	150x
Deribit UNI_USDC-PERPETUAL	+0.0032%	1h	8.9587	+0.033%	$593K	$249K	50x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−1.404%	$660	$153K	12x	as long as short
01 Exchange UNIUSD	+0.0080%	1h	8.9561	+0.004%	$473	$31	10x	as long as short
Lighter UNI	+0.0096%	1h	8.9657	+0.111%	$4.4M	$5.6M	15x	as long as short
Nado UNI-PERP	+0.0099%	1h	8.9555	−0.003%	$721K	$4.4M	10x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.9512	−0.051%	$26K	—	20x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.9589	+0.035%	$739K	$3.1M	50x	as long as short
Pacifica UNI	+0.0100%	1h	8.9622	+0.071%	$289K	$542K	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance UNIUSDT	+0.0100%	8h	8.9520	−0.042%	$216.4M	$632.8M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	8.9510	−0.053%	$99.1M	$106.8M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	8.9500	−0.064%	$54.4M	$255.8M	50x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.9670	+0.126%	$324K	$702K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.9540	−0.020%	$27.1M	$63.6M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.9540	−0.020%	$47.5M	$25.8M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.9560	+0.003%	$13.2M	$12.5M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.9540	−0.020%	$33.6M	$45.2M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	8.9540	−0.020%	—	$6.5M	—	as long as short
Variational Omni UNI	+0.0100%	8h	8.9940	+0.427%	$4.2M	$3.9M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.9775	+0.243%	$170K	$347K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.9820	+0.293%	$627K	$2.5M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.9900	+0.382%	$91K	$706K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.9840	+0.315%	$33K	$3.5M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.9573	+0.017%	$103K	$609K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.9560	+0.003%	$16K	$2.5M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.9580	+0.025%	$36K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.9530	−0.031%	$32K	$852K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.9708	+0.168%	$702K	$4.4M	75x	as long as short
Phemex UNIUSDTshort	+0.0100%	8h	8.9580	+0.025%	$27.0M	$4.5M	50x
Extended UNI-USD	+0.0104%	1h	8.9502	−0.062%	$298K	$1.8M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.9542	−0.017%	$32K	—	3x	as long as short
Hyperliquid UNI	+0.0173%	1h	8.9641	+0.093%	$95.8M	$67.5M	10x	as long as short
Backpack UNI_USDC_PERP	+0.0187%	1h	8.9609	+0.057%	$1.1M	$2.5M	10x	as long as short
Coinbase International UNI-PERP-INTX	+0.0208%	1h	8.9760	+0.226%	$928K	$5.2M	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.9860	+0.338%	$10.1M	$3.7M	75x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0244%	1h	8.9563	+0.006%	$637K	—	120x	as long as short
Reya UNIRUSDPERP	+0.0384%	1h	8.9542	−0.017%	$16K	—	20x	as long as short
dYdX UNI-USD	+0.0409%	1h	8.9596	+0.043%	$235K	$32K	10x	as long as short
Aftermath Perps UNIUSD	+0.0524%	1h	8.9880	+0.360%	$1K	$51K	10x	as long as short