Funding arb · Price arb /

UNI

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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: Orderly against GMX−0.028%7-day average −0.034% · you buy dearer than you sell

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

Long on GMX Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.205%−$21 on $10k

Price spread, last 3 days (all we have)+0.108%+$11 · spread now −0.028%, 7d avg −0.034%

Together, before fees−0.097%−$10 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.034%, 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]	8.9546	L +0.0381% / S −0.0323%	pay 0.0048% / 1h	5m 30s	$567K	—	120x
Short	Orderly PERP_UNI_USDC	8.9520	0.0100	get 0.0100% / 8h	5m 30s	$16K	$1.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.028%Rate

Funding earned: −$59.11
Price spread: −0.028% → −0.034%: $0.51
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$76.6
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Orderly: no order-book sample. 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 Orderly no order-book sample	—	—	—	—	—

GMX and Orderly: 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	−1.391%	$660	$155K	12x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0004%	1h	8.9655	+0.122%	$62K	—	150x	as long as short
Variational Omni UNI	+0.0087%	8h	8.9503	−0.048%	$4.1M	$4.4M	—	as long as short
OKX UNI-USDT-SWAP	+0.0087%	8h	8.9600	+0.061%	$54.7M	$248.8M	50x	as long as short
Nado UNI-PERP	+0.0100%	1h	8.9567	+0.025%	$951K	$4.2M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.9601	+0.062%	$1.0M	$3.3M	50x	as long as short
Pacifica UNI	+0.0100%	1h	8.9540	−0.006%	$296K	$591K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	8.9570	+0.027%	$221.7M	$591.3M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	8.9550	+0.005%	$101.2M	$105.5M	75x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.9650	+0.117%	$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	8.9530	−0.017%	$22.8M	$59.2M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.9610	+0.072%	$43.9M	$24.1M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.9580	+0.039%	$13.6M	$13.5M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.9600	+0.061%	$32.7M	$42.0M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	8.9540	−0.006%	—	$6.5M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	8.9606	+0.068%	$1.1M	$2.4M	10x	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.9500	−0.051%	$168K	$344K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.9730	+0.206%	$624K	$2.5M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.9490	−0.062%	$88K	$708K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.9580	+0.039%	$36K	$3.3M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.9628	+0.092%	$85K	$366K	10x	as long as short
Orderly PERP_UNI_USDCshort	+0.0100%	8h	8.9520	−0.028%	$16K	$1.7M	10x
SunX UNI-USDT	+0.0100%	8h	8.9590	+0.050%	$37K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.9569	+0.026%	$21K	$676K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.9585	+0.044%	$717K	$4.3M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.9580	+0.039%	$27.0M	$4.5M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.9520	−0.029%	$26K	—	20x	as long as short
Extended UNI-USD	+0.0104%	1h	8.9513	−0.037%	$302K	$1.5M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.9557	+0.013%	$32K	$1K	3x	as long as short
01 Exchange UNIUSD	+0.0168%	1h	8.9589	+0.049%	$447	—	10x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0207%	1h	8.9591	+0.051%	$577K	$177K	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.9480	−0.073%	$10.0M	$3.5M	75x	as long as short
Coinbase International UNI-PERP-INTX	+0.0232%	1h	8.9570	+0.027%	$1.1M	$5.4M	50x	as long as short
dYdX UNI-USD	+0.0302%	1h	8.9528	−0.020%	$248K	$6K	10x	as long as short
Reya UNIRUSDPERP	+0.0365%	1h	8.9584	+0.043%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]long	L +0.0381% / S −0.0323%	1h	8.9546	long leg	$567K	—	120x
Hyperliquid UNI	+0.0436%	1h	8.9699	+0.171%	$98.1M	$59.6M	10x	as long as short
Kraken Futures PF_UNIUSD	+0.0565%	1h	8.9621	+0.084%	$5.0M	$7.0M	50x	as long as short
Aftermath Perps UNIUSD	+0.0871%	1h	8.9695	+0.167%	$1K	$49K	10x	as long as short
Lighter UNI	+0.0912%	1h	8.9718	+0.193%	$4.6M	$5.3M	15x	as long as short