Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0279%/8h= −30.6% APRpaid last 24h −0.035%

Price spread now: MEXC against GMX−0.052%7-day average −0.025% · you buy dearer than you sell

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

Long on GMX Short on MEXC

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)−0.133%−$13 · spread now −0.052%, 7d avg −0.025%

Together, before fees−0.332%−$33 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 MEXC is 0.027% cheaper against GMX than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.025%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX UNI/USD [UNI-USDC]	8.9467	L +0.0379% / S −0.0320%	pay 0.0047% / 1h	27m 21s	$561K	—	120x
Short	MEXC UNI_USDT	8.9420	0.0100	get 0.0100% / 8h	2h 27m	$43.6M	$24.6M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against GMX. 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 GMXbpFee MEXCbpOrdersPrice spread, now −0.052%Rate

Funding earned: −$58.68
Price spread: −0.052% → −0.025%: −$2.66
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$77.34
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; MEXC: 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 MEXC live order book, 2 min ago	1.68 bp	4.5 bp −$5	7.4 bp −$74	24.1 bp −$2,409	155.9 bp −$77.9K

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	−0.0175%	8h	8.9141	−0.364%	$3.9M	$4.6M	—	as long as short
Bybit UNIUSDT	−0.0132%	8h	8.9480	+0.015%	$102.2M	$105.9M	75x	as long as short
Deribit UNI_USDC-PERPETUAL	0.0000%	1h	8.9530	+0.071%	$566K	$137K	50x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0006%	1h	8.9471	+0.005%	$81K	—	150x	as long as short
01 Exchange UNIUSD	+0.0016%	1h	8.9448	−0.021%	$446	—	10x	as long as short
OKX UNI-USDT-SWAP	+0.0017%	8h	8.9450	−0.019%	$55.0M	$249.0M	50x	as long as short
dYdX UNI-USD	+0.0081%	1h	8.9406	−0.068%	$248K	$5K	10x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.9373	−0.104%	$26K	—	20x	as long as short
Nado UNI-PERP	+0.0100%	1h	8.9370	−0.108%	$865K	$3.9M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.9405	−0.069%	$1.0M	$3.4M	50x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica UNI	+0.0100%	1h	8.9391	−0.084%	$302K	$564K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	8.9460	−0.007%	$218.8M	$594.6M	75x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.9470	+0.004%	$276K	$611K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.9440	−0.030%	$23.2M	$59.2M	75x	as long as short
MEXC UNI_USDTshort	+0.0100%	8h	8.9420	−0.052%	$43.6M	$24.6M	200x
KuCoin UNIUSDTM	+0.0100%	8h	8.9400	−0.074%	$13.9M	$13.7M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.9450	−0.019%	$32.4M	$41.4M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	8.9470	+0.004%	—	$6.5M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	8.9300	−0.186%	$992K	$2.3M	10x	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.8913	−0.619%	$167K	$344K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.9116	−0.392%	$625K	$2.6M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.9180	−0.320%	$84K	$713K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.9230	−0.264%	$106K	$3.2M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.9442	−0.027%	$87K	$324K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.9460	−0.007%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.9450	−0.019%	$36K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.9450	−0.019%	$25K	$666K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.9314	−0.171%	$728K	$4.3M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.9180	−0.320%	$26.9M	$4.4M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	8.9360	−0.119%	$308K	$1.5M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.9470	+0.004%	$32K	$1K	3x	as long as short
Coinbase International UNI-PERP-INTX	+0.0200%	1h	8.9440	−0.030%	$1.0M	$5.4M	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.9320	−0.164%	$9.8M	$3.4M	75x	as long as short
Kraken Futures PF_UNIUSD	+0.0267%	1h	8.9181	−0.319%	$5.0M	$7.1M	50x	as long as short
Hyperliquid UNI	+0.0305%	1h	8.9496	+0.033%	$97.4M	$59.9M	10x	as long as short
Reya UNIRUSDPERP	+0.0360%	1h	8.9384	−0.093%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]long	L +0.0379% / S −0.0320%	1h	8.9467	long leg	$561K	—	120x
Aftermath Perps UNIUSD	+0.0522%	1h	8.9042	−0.475%	$1K	$50K	10x	as long as short
Lighter UNI	+0.0560%	1h	8.9534	+0.075%	$4.6M	$5.4M	15x	as long as short
Injective UNI/USDC PERP	+0.2702%	1h	8.7900	−1.751%	$657	$97K	12x	as long as short