Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0281%/8h= −30.7% APRpaid last 24h −0.068%

Price spread now: KuCoin against GMX−0.030%7-day average −0.032% · you buy dearer than you sell

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

Long on GMX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.269%−$27 on $10k

Price spread, last 4 days (all we have)−0.081%−$8 · spread now −0.030%, 7d avg −0.032%

Together, before fees−0.350%−$35 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.032%, so right now this pair is about funding alone: −$8 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]	8.8907	L +0.0381% / S −0.0243%	pay 0.0048% / 1h	38m 56s	$633K	—	120x
Short	KuCoin UNIUSDTM	8.8880	0.0100	get 0.0100% / 8h	38m 56s	$13.0M	$13.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.030%Rate

Funding earned: −$58.97
Price spread: −0.030% → −0.032%: $0.23
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$82.74
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; KuCoin: live order book, 10 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 KuCoin live order book, 10 min ago	1.68 bp	13.1 bp −$13	16.8 bp −$168	60.2 bp −$6,019	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
Kraken Futures PF_UNIUSD	−0.0306%	1h	8.8930	+0.026%	$4.7M	$8.6M	50x	as long as short
01 Exchange UNIUSD	−0.0024%	1h	8.8869	−0.042%	$443	$5	10x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0007%	1h	8.8877	−0.034%	$49K	—	150x	as long as short
Nado UNI-PERP	+0.0025%	1h	8.8875	−0.036%	$731K	$4.7M	10x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−0.682%	$660	$153K	12x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0057%	1h	8.8939	+0.036%	$586K	$250K	50x	as long as short
Polymarket Perps UNI-USD	+0.0073%	1h	8.8906	−0.001%	$106K	$616K	10x	as long as short
Lighter UNI	+0.0096%	1h	8.9007	+0.113%	$4.5M	$5.5M	15x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.8814	−0.104%	$25K	—	20x	as long as short
Hyperliquid UNI	+0.0100%	1h	8.8963	+0.064%	$94.6M	$67.5M	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster UNIUSDT	+0.0100%	8h	8.8919	+0.014%	$728K	$3.6M	50x	as long as short
Pacifica UNI	+0.0100%	1h	8.8890	−0.019%	$287K	$600K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	8.8900	−0.007%	$214.9M	$657.2M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	8.8860	−0.052%	$98.5M	$111.3M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	8.8880	−0.030%	$54.3M	$264.9M	50x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.8950	+0.049%	$317K	$701K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.8850	−0.064%	$25.5M	$65.9M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.8860	−0.052%	$48.4M	$26.1M	200x	as long as short
KuCoin UNIUSDTMshort	+0.0100%	8h	8.8880	−0.030%	$13.0M	$13.3M	75x
Bitget UNIUSDT	+0.0100%	8h	8.8820	−0.097%	$32.5M	$45.4M	75x	as long as short
BingX UNI-USDT	+0.0100%	8h	8.8870	−0.041%	—	$57.0M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	8.8919	+0.014%	$1.1M	$2.4M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	8.9018	+0.125%	$4.1M	$4.3M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.9058	+0.171%	$169K	$346K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.9001	+0.106%	$617K	$2.6M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.9110	+0.229%	$90K	$711K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.9100	+0.218%	$15K	$3.4M	20x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.8880	−0.030%	$16K	$2.1M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.8878	−0.032%	$36K	$1.4M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.8876	−0.034%	$32K	$889K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.9037	+0.147%	$700K	$4.8M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.8880	−0.030%	$26.8M	$4.5M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	8.8806	−0.113%	$288K	$1.7M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.8851	−0.062%	$32K	—	3x	as long as short
Coinbase International UNI-PERP-INTX	+0.0200%	1h	8.8950	+0.049%	$926K	$5.5M	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.8900	−0.007%	$10.0M	$3.6M	75x	as long as short
Reya UNIRUSDPERP	+0.0380%	1h	8.8892	−0.017%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]long	L +0.0381% / S −0.0243%	1h	8.8907	long leg	$633K	—	120x
Aftermath Perps UNIUSD	+0.0428%	1h	8.9034	+0.144%	$985	$53K	10x	as long as short
dYdX UNI-USD	+0.0602%	1h	8.8863	−0.049%	$234K	$30K	10x	as long as short