Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0281%/8h= −30.8% APRpaid last 24h −0.038%

Price spread now: BingX against GMX−0.014%7-day average −0.059% · you buy dearer than you sell

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

Long on GMX Short on BingX

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)−0.156%−$16 · spread now −0.014%, 7d avg −0.059%

Together, before fees−0.356%−$36 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BingX is 0.045% dearer against GMX than usual: you sell high and buy low (spread −0.014% now, against its 7-day average of −0.059%): +$4 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 13 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX UNI/USD [UNI-USDC]	8.9472	L +0.0381% / S −0.0323%	pay 0.0048% / 1h	7m 18s	$566K	—	120x
Short	BingX UNI-USDC	8.9460	0.0100	get 0.0100% / 8h	7m 18s	—	$6.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.014%Rate

Funding earned: −$59.11
Price spread: −0.014% → −0.059%: $4.48
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$76.63
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; BingX: live order book, 3 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 BingX live order book, 3 min ago	1.67 bp	15.7 bp −$16	32.5 bp −$325	84.4 bp −$8,441	doesn't fit

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
Injective UNI/USDC PERP	−0.0049%	1h	8.8300	−1.310%	$660	$155K	12x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0004%	1h	8.9484	+0.013%	$62K	—	150x	as long as short
Variational Omni UNI	+0.0082%	8h	8.9422	−0.056%	$4.1M	$4.4M	—	as long as short
OKX UNI-USDT-SWAP	+0.0086%	8h	8.9480	+0.009%	$54.7M	$248.7M	50x	as long as short
Nado UNI-PERP	+0.0100%	1h	8.9380	−0.103%	$953K	$4.2M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.9542	+0.078%	$1.0M	$3.3M	50x	as long as short
Pacifica UNI	+0.0100%	1h	8.9530	+0.064%	$296K	$591K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	8.9527	+0.061%	$221.6M	$591.3M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	8.9490	+0.020%	$101.2M	$105.3M	75x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.9580	+0.120%	$269K	$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	8.9460	−0.014%	$22.8M	$59.2M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.9550	+0.087%	$43.8M	$24.1M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.9490	+0.020%	$13.7M	$13.5M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.9440	−0.036%	$32.7M	$42.0M	75x	as long as short
BingX UNI-USDCshort	+0.0100%	8h	8.9460	−0.014%	—	$6.5M	—
Backpack UNI_USDC_PERP	+0.0100%	1h	8.9733	+0.291%	$1.1M	$2.4M	10x	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.9644	+0.192%	$169K	$343K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.9730	+0.288%	$624K	$2.5M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.9680	+0.232%	$88K	$710K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.9690	+0.243%	$36K	$3.3M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.9454	−0.020%	$84K	$366K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.9460	−0.014%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.9539	+0.075%	$37K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.9485	+0.014%	$21K	$676K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.9725	+0.282%	$718K	$4.3M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.9480	+0.009%	$27.0M	$4.5M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.9457	−0.017%	$26K	—	20x	as long as short
Extended UNI-USD	+0.0104%	1h	8.9435	−0.042%	$302K	$1.5M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.9490	+0.020%	$32K	$1K	3x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0114%	1h	8.9518	+0.051%	$576K	$177K	50x	as long as short
01 Exchange UNIUSD	+0.0168%	1h	8.9453	−0.022%	$446	—	10x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.9480	+0.009%	$10.0M	$3.5M	75x	as long as short
Coinbase International UNI-PERP-INTX	+0.0232%	1h	8.9680	+0.232%	$1.1M	$5.4M	50x	as long as short
dYdX UNI-USD	+0.0300%	1h	8.9536	+0.071%	$248K	$6K	10x	as long as short
Reya UNIRUSDPERP	+0.0365%	1h	8.9422	−0.057%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]long	L +0.0381% / S −0.0323%	1h	8.9472	long leg	$566K	—	120x
Hyperliquid UNI	+0.0451%	1h	8.9504	+0.035%	$97.9M	$59.6M	10x	as long as short
Kraken Futures PF_UNIUSD	+0.0565%	1h	8.9532	+0.066%	$5.0M	$7.0M	50x	as long as short
Aftermath Perps UNIUSD	+0.0876%	1h	8.9706	+0.261%	$1K	$49K	10x	as long as short
Lighter UNI	+0.0912%	1h	8.9665	+0.215%	$4.6M	$5.3M	15x	as long as short