Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0280%/8h= −30.7% APRpaid last 24h −0.035%

Price spread now: Binance against GMX−0.095%7-day average −0.020% · you buy dearer than you sell

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

Long on GMX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.200%−$20 on $10k

Price spread, last 3 days (all we have)−0.105%−$10 · spread now −0.095%, 7d avg −0.020%

Together, before fees−0.304%−$30 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Binance is 0.075% cheaper against GMX than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.020%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX UNI/USD [UNI-USDC]	8.8377	L +0.0380% / S −0.0320%	pay 0.0048% / 1h	47m 02s	$554K	—	120x
Short	Binance UNIUSDT	8.8293	0.0100	get 0.0100% / 8h	2h 47m	$216.3M	$593.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against GMX. 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 GMXbpFee BinancebpOrdersPrice spread, now −0.095%Rate

Funding earned: −$58.84
Price spread: −0.095% → −0.020%: −$7.55
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$88.38
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Binance: live order book, 12 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 GMX no order-book sample	—	—	—	—	—
Sell Binance live order book, 12 min ago	0.57 bp	6.9 bp −$7	12.2 bp −$122	44.9 bp −$4,487	158.6 bp −$79.3K

GMX: 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
Variational Omni UNI	−0.0200%	8h	8.7965	−0.466%	$3.9M	$4.6M	—	as long as short
Bybit UNIUSDT	−0.0187%	8h	8.8220	−0.178%	$102.7M	$103.8M	75x	as long as short
01 Exchange UNIUSD	−0.0040%	1h	8.8343	−0.039%	$441	—	10x	as long as short
Deribit UNI_USDC-PERPETUAL	0.0000%	1h	8.8400	+0.026%	$552K	$125K	50x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0006%	1h	8.8386	+0.010%	$80K	—	150x	as long as short
OKX UNI-USDT-SWAP	+0.0007%	8h	8.8220	−0.178%	$54.4M	$244.7M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.8243	−0.153%	$25K	—	20x	as long as short
Nado UNI-PERP	+0.0100%	1h	8.8315	−0.071%	$849K	$3.9M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.8388	+0.012%	$1.0M	$3.4M	50x	as long as short
Pacifica UNI	+0.0100%	1h	8.8265	−0.127%	$296K	$559K	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance UNIUSDTshort	+0.0100%	8h	8.8293	−0.095%	$216.3M	$593.1M	75x
Arcus UNI-USD	+0.0100%	1h	8.8380	+0.003%	$273K	$605K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.8230	−0.167%	$22.9M	$58.9M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.8290	−0.099%	$42.8M	$24.4M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.8300	−0.088%	$13.8M	$13.6M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.8230	−0.167%	$31.9M	$41.0M	75x	as long as short
BingX UNI-USDT	+0.0100%	8h	8.8230	−0.167%	—	$49.8M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	8.8299	−0.089%	$976K	$2.4M	10x	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.8078	−0.339%	$166K	$343K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.8080	−0.337%	$613K	$2.6M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.8070	−0.348%	$83K	$713K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.8170	−0.235%	$105K	$3.2M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.8355	−0.025%	$87K	$324K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.8340	−0.042%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.8385	+0.009%	$36K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.8290	−0.099%	$28K	$659K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.8493	+0.131%	$723K	$4.3M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.8340	−0.042%	$26.6M	$4.4M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	8.8278	−0.113%	$306K	$1.4M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.8342	−0.040%	$31K	$1K	3x	as long as short
dYdX UNI-USD	+0.0154%	1h	8.8260	−0.133%	$244K	$5K	10x	as long as short
Coinbase International UNI-PERP-INTX	+0.0200%	1h	8.8390	+0.014%	$1.0M	$5.3M	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.8250	−0.144%	$9.8M	$3.3M	75x	as long as short
Kraken Futures PF_UNIUSD	+0.0269%	1h	8.8370	−0.009%	$4.9M	$7.1M	50x	as long as short
Hyperliquid UNI	+0.0348%	1h	8.8390	+0.014%	$96.0M	$59.7M	10x	as long as short
Reya UNIRUSDPERP	+0.0359%	1h	8.8327	−0.057%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]long	L +0.0380% / S −0.0320%	1h	8.8377	long leg	$554K	—	120x
Lighter UNI	+0.0448%	1h	8.8485	+0.122%	$4.5M	$5.3M	15x	as long as short
Aftermath Perps UNIUSD	+0.0469%	1h	8.8203	−0.197%	$1K	$50K	10x	as long as short
Injective UNI/USDC PERP	+0.2702%	1h	8.7900	−0.540%	$657	$97K	12x	as long as short