Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h +0.154%

Price spread now: Injective against Gate−0.260%84s7-day average +0.018% · you buy dearer than you sell

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

Long on Gate Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.382%−$38 on $10k

Price spread, last 4 days (all we have)+0.542%+$54 · spread now −0.260%, 7d avg +0.018%

Together, before fees+0.160%+$16 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 0.278% cheaper against Gate than usual: you would sell low and buy high (−$28 if the spread goes back to its 7-day average of +0.018%). Swap the legs. The two prices were read 84 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	Gate UNI_USDT	8.8530	0.0100	pay 0.0100% / 8h	6h 21m	$27.5M	$58.1M	75x
Short	Injective UNI/USDC PERP	8.8300	0.0033	get 0.0004% / 1h	21m 52s	$660	$152K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Gate. 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 GatebpFee InjectivebpOrdersPrice spread, now −0.260%Rate

Funding earned: −$14
Price spread: −0.260% → +0.018%: −$27.82
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$56.84
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 5 min ago; Injective: no order-book sample. 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 Gate live order book, 5 min ago	1.13 bp	15.8 bp −$16	23.7 bp −$237	64.7 bp −$6,468	109.9 bp −$55.0K
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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 exchanges

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	+0.0003%	1h	8.8402	−0.144%	$750K	$4.1M	10x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0005%	1h	8.8474	−0.063%	$76K	—	150x	as long as short
Injective UNI/USDC PERPshort	+0.0033%	1h	8.8300	−0.260%	$660	$152K	12x
dYdX UNI-USD	+0.0043%	1h	8.8392	−0.156%	$232K	$32K	10x	as long as short
01 Exchange UNIUSD	+0.0048%	1h	8.8458	−0.081%	$441	$56	10x	as long as short
Lighter UNI	+0.0096%	1h	8.8597	+0.076%	$4.4M	$5.0M	15x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.8374	−0.177%	$25K	—	20x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.8560	+0.034%	$784K	$2.5M	50x	as long as short
Pacifica UNI	+0.0100%	1h	8.8411	−0.135%	$289K	$482K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	8.8530	0.000%	$214.5M	$593.4M	75x	as long as short

Show all 40 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit UNIUSDT	+0.0100%	8h	8.8510	−0.023%	$98.0M	$100.3M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	8.8530	0.000%	$54.4M	$238.0M	50x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.8500	−0.034%	$319K	$555K	10x	as long as short
Gate UNI_USDTlong	+0.0100%	8h	8.8530	long leg	$27.5M	$58.1M	75x
MEXC UNI_USDT	+0.0100%	8h	8.8480	−0.056%	$45.8M	$25.5M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.8490	−0.045%	$12.9M	$11.7M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.8460	−0.079%	$32.9M	$43.7M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	8.8510	−0.023%	—	$6.5M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	8.8567	+0.042%	$1.1M	$2.4M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	8.8417	−0.128%	$4.1M	$3.2M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.8404	−0.142%	$167K	$345K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.8552	+0.025%	$628K	$2.4M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.8470	−0.068%	$89K	$708K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.8450	−0.090%	$76K	$3.5M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.8420	−0.124%	$105K	$592K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.8440	−0.102%	$16K	$2.6M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.8474	−0.063%	$36K	$1.2M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.8455	−0.085%	$32K	$730K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.8600	+0.079%	$693K	$4.2M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.8500	−0.034%	$26.7M	$4.5M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	8.8438	−0.103%	$303K	$1.7M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.8440	−0.102%	$31K	—	3x	as long as short
Kraken Futures PF_UNIUSD	+0.0142%	1h	8.8505	−0.028%	$4.7M	$7.9M	50x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0164%	1h	8.8520	−0.012%	$586K	$222K	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.8410	−0.136%	$10.0M	$3.4M	75x	as long as short
Hyperliquid UNI	+0.0242%	1h	8.8623	+0.105%	$95.4M	$63.4M	10x	as long as short
Coinbase International UNI-PERP-INTX	+0.0248%	1h	8.8400	−0.147%	$923K	$4.5M	50x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0244%	1h	8.8475	−0.062%	$629K	—	120x	as long as short
Reya UNIRUSDPERP	+0.0385%	1h	8.8444	−0.098%	$16K	—	20x	as long as short
Aftermath Perps UNIUSD	+0.0495%	1h	8.8318	−0.240%	$1K	$51K	10x	as long as short