Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0281%/8h= −30.8% APRpaid last 24h −0.074%

Price spread now: OKX against GMX−0.017%7-day average −0.061% · you buy dearer than you sell

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

Long on GMX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.252%−$25 on $10k

Price spread, last 4 days (all we have)−0.160%−$16 · spread now −0.017%, 7d avg −0.061%

Together, before fees−0.411%−$41 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.043% dearer against GMX than usual: you sell high and buy low (spread −0.017% now, against its 7-day average of −0.061%): +$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 12 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX UNI/USD [UNI-USDC]	8.8615	L +0.0381% / S −0.0244%	pay 0.0048% / 1h	57m 18s	$630K	—	120x
Short	OKX UNI-USDT-SWAP	8.8600	0.0100	get 0.0100% / 8h	2h 57m	$53.7M	$262.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.017%Rate

Funding earned: −$58.99
Price spread: −0.017% → −0.061%: $4.35
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$76.65
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; OKX: 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 OKX live order book, 2 min ago	0.57 bp	8.4 bp −$8	15.9 bp −$159	38.6 bp −$3,858	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
Nado UNI-PERP	−0.0355%	1h	8.8495	−0.136%	$799K	$4.7M	10x	as long as short
01 Exchange UNIUSD	−0.0128%	1h	8.8548	−0.076%	$442	$5	10x	as long as short
Kraken Futures PF_UNIUSD	−0.0017%	1h	8.8681	+0.074%	$4.8M	$8.4M	50x	as long as short
dYdX UNI-USD	0.0000%	1h	8.8480	−0.153%	$233K	$31K	10x	as long as short
Deribit UNI_USDC-PERPETUAL	0.0000%	1h	8.8678	+0.071%	$568K	$208K	50x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0007%	1h	8.8615	−0.001%	$48K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−0.356%	$660	$153K	12x	as long as short
Polymarket Perps UNI-USD	+0.0059%	1h	8.8589	−0.030%	$94K	$489K	10x	as long as short
Lighter UNI	+0.0096%	1h	8.8732	+0.132%	$4.5M	$5.4M	15x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.8458	−0.178%	$25K	—	20x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid UNI	+0.0100%	1h	8.8668	+0.060%	$93.7M	$65.4M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.8642	+0.031%	$765K	$3.6M	50x	as long as short
Pacifica UNI	+0.0100%	1h	8.8479	−0.154%	$285K	$610K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	8.8670	+0.062%	$215.7M	$657.4M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	8.8610	−0.006%	$99.0M	$112.6M	75x	as long as short
OKX UNI-USDT-SWAPshort	+0.0100%	8h	8.8600	−0.017%	$53.7M	$262.2M	50x
Arcus UNI-USD	+0.0100%	1h	8.8640	+0.028%	$329K	$684K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.8570	−0.051%	$23.4M	$64.1M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.8610	−0.006%	$46.7M	$26.2M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.8640	+0.028%	$13.2M	$13.4M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.8580	−0.040%	$32.7M	$46.4M	75x	as long as short
BingX UNI-USDT	+0.0100%	8h	8.8560	−0.062%	—	$56.9M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	8.8174	−0.498%	$1.0M	$2.4M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	8.8460	−0.176%	$4.1M	$4.2M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.8442	−0.195%	$167K	$346K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.8520	−0.107%	$617K	$2.8M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.8380	−0.265%	$90K	$703K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.8230	−0.435%	$15K	$3.4M	20x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.8610	−0.006%	$16K	$1.5M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.8682	+0.075%	$36K	$1.4M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.8620	+0.005%	$39K	$838K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.8780	+0.186%	$707K	$5.0M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.8620	+0.005%	$26.8M	$4.3M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	8.8566	−0.055%	$281K	$1.6M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.8630	+0.017%	$31K	—	3x	as long as short
Coinbase International UNI-PERP-INTX	+0.0184%	1h	8.8600	−0.017%	$933K	$5.8M	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.8610	−0.006%	$10.0M	$3.6M	75x	as long as short
Reya UNIRUSDPERP	+0.0375%	1h	8.8532	−0.093%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]long	L +0.0381% / S −0.0244%	1h	8.8615	long leg	$630K	—	120x
Aftermath Perps UNIUSD	+0.0657%	1h	8.8559	−0.064%	$958	$45K	10x	as long as short