Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0573%/8h= −62.7% APRpaid last 24h −0.066%

Price spread now: Bybit against GMX−0.101%7-day average −0.096% · you buy dearer than you sell

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

Long on GMX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.238%−$24 on $10k

Price spread, last 3 days (all we have)−0.239%−$24 · spread now −0.101%, 7d avg −0.096%

Together, before fees−0.476%−$48 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.096%, so right now this pair is about funding alone: −$17 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX UNI/USD [UNI-USDC]	8.8209	L +0.0380% / S −0.0320%	pay 0.0048% / 1h	52m 25s	$553K	—	120x
Short	Bybit UNIUSDT	8.8120	−0.0192	pay 0.0192% / 8h	2h 52m	$102.7M	$103.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.101%Rate

Funding earned: −$120.31
Price spread: −0.101% → −0.096%: −$0.58
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$143.89
Costs to cover: 0.230%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Bybit: live order book, 2 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 Bybit live order book, 2 min ago	0.57 bp	8.8 bp −$9	18.9 bp −$189	48.1 bp −$4,807	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
Variational Omni UNI	−0.0201%	8h	8.8015	−0.221%	$3.9M	$4.9M	—	as long as short
Bybit UNIUSDTshort	−0.0192%	8h	8.8120	−0.101%	$102.7M	$103.9M	75x
01 Exchange UNIUSD	−0.0064%	1h	8.8166	−0.049%	$440	—	10x	as long as short
Deribit UNI_USDC-PERPETUAL	0.0000%	1h	8.8251	+0.047%	$551K	$125K	50x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0006%	1h	8.8196	−0.016%	$79K	—	150x	as long as short
OKX UNI-USDT-SWAP	+0.0010%	8h	8.8130	−0.090%	$54.3M	$244.7M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.8154	−0.063%	$25K	—	20x	as long as short
Nado UNI-PERP	+0.0100%	1h	8.8065	−0.164%	$851K	$3.9M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.8240	+0.035%	$1.0M	$3.4M	50x	as long as short
Pacifica UNI	+0.0100%	1h	8.8171	−0.044%	$297K	$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 UNIUSDT	+0.0100%	8h	8.8150	−0.067%	$215.9M	$593.7M	75x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.8240	+0.035%	$272K	$605K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.8130	−0.090%	$22.9M	$58.9M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.8150	−0.067%	$42.7M	$24.4M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.8150	−0.067%	$13.7M	$13.6M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.8100	−0.124%	$31.9M	$41.0M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	8.8140	−0.079%	—	$6.5M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	8.8224	+0.016%	$977K	$2.4M	10x	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.8265	+0.063%	$166K	$342K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.8310	+0.114%	$619K	$2.6M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.8040	−0.192%	$83K	$713K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.8250	+0.046%	$105K	$3.3M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.8168	−0.047%	$87K	$336K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.8170	−0.045%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.8258	+0.055%	$36K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.8178	−0.036%	$28K	$659K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.8287	+0.088%	$721K	$4.3M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.8200	−0.011%	$26.6M	$4.4M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	8.8087	−0.139%	$307K	$1.4M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.8223	+0.015%	$31K	$1K	3x	as long as short
Coinbase International UNI-PERP-INTX	+0.0200%	1h	8.8280	+0.080%	$1.0M	$5.3M	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.8190	−0.022%	$9.8M	$3.3M	75x	as long as short
dYdX UNI-USD	+0.0264%	1h	8.8220	+0.012%	$244K	$5K	10x	as long as short
Kraken Futures PF_UNIUSD	+0.0270%	1h	8.8250	+0.046%	$4.9M	$7.1M	50x	as long as short
Reya UNIRUSDPERP	+0.0359%	1h	8.8121	−0.100%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]long	L +0.0380% / S −0.0320%	1h	8.8209	long leg	$553K	—	120x
Hyperliquid UNI	+0.0435%	1h	8.8255	+0.052%	$95.8M	$59.6M	10x	as long as short
Lighter UNI	+0.0464%	1h	8.8349	+0.158%	$4.5M	$5.3M	15x	as long as short
Aftermath Perps UNIUSD	+0.0504%	1h	8.8218	+0.010%	$1K	$50K	10x	as long as short
Injective UNI/USDC PERP	+0.2702%	1h	8.7900	−0.351%	$657	$97K	12x	as long as short