Funding arb · Price arb /

UNI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0281%/8h= −30.8% APRpaid last 24h −0.071%

Price spread now: Variational Omni against GMX+0.166%7-day average −0.060% · you sell dearer than you buy

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

Long on GMX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.255%−$25 on $10k

Price spread, last 3 days (all we have)−0.536%−$54 · spread now +0.166%, 7d avg −0.060%

Together, before fees−0.790%+ Points / potential airdropVariational Omni: Active · farm board−$79 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Variational Omni is 0.227% dearer against GMX than usual: you sell high and buy low (spread +0.166% now, against its 7-day average of −0.060%): +$23 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 2.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX UNI/USD [UNI-USDC]	9.1847	L +0.0381% / S −0.0323%	pay 0.0048% / 1h	18m 25s	$580K	—	120x
Short	Variational Omni UNI	9.2000	0.0100	get 0.0100% / 8h	7h 18m	$4.2M	$4.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.166%Rate

Funding earned: −$59.08
Price spread: +0.166% → −0.060%: $22.65
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$48.43
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: GMX: no order-book sample; Variational Omni: RFQ quote, 1 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 Variational Omni RFQ quote, 1 min ago	3.25 bp	doesn't fit	14.0 bp −$140	doesn't fit	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
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0004%	1h	9.1873	+0.029%	$39K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−3.862%	$660	$154K	12x	as long as short
01 Exchange UNIUSD	+0.0072%	1h	9.1742	−0.114%	$458	—	10x	as long as short
Nado UNI-PERP	+0.0100%	1h	9.1720	−0.138%	$981K	$4.3M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	9.1651	−0.213%	$1.1M	$2.9M	50x	as long as short
Pacifica UNI	+0.0100%	1h	9.1616	−0.252%	$305K	$589K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	9.1884	+0.041%	$233.4M	$603.1M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	9.1920	+0.079%	$103.5M	$108.0M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	9.1910	+0.068%	$56.6M	$258.0M	50x	as long as short
Arcus UNI-USD	+0.0100%	1h	9.1770	−0.084%	$283K	$626K	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	9.1840	−0.008%	$23.4M	$60.2M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	9.1810	−0.040%	$45.9M	$24.4M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	9.1720	−0.138%	$13.7M	$13.6M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	9.1880	+0.036%	$34.0M	$43.2M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	9.1840	−0.008%	—	$6.5M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	9.1631	−0.235%	$1.0M	$2.4M	10x	as long as short
Variational Omni UNIshort	+0.0100%	8h	9.2000	+0.166%	$4.2M	$4.4M	—
edgeX UNIUSDC	+0.0100%	4h	9.2156	+0.336%	$174K	$345K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	9.2149	+0.329%	$643K	$2.6M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	9.2110	+0.286%	$90K	$707K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	9.2090	+0.264%	$57K	$3.3M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	9.1764	−0.090%	$85K	$385K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	9.1940	+0.101%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	9.2003	+0.170%	$37K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	9.1910	+0.068%	$22K	$711K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	9.1840	−0.008%	$725K	$4.4M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	9.1650	−0.215%	$27.6M	$4.5M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	9.1562	−0.311%	$26K	—	20x	as long as short
Extended UNI-USD	+0.0104%	1h	9.1864	+0.018%	$309K	$1.6M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	9.1924	+0.084%	$33K	—	3x	as long as short
dYdX UNI-USD	+0.0153%	1h	9.1585	−0.285%	$241K	$20K	10x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0162%	1h	9.1947	+0.109%	$594K	$185K	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	9.1690	−0.171%	$10.4M	$3.6M	75x	as long as short
Coinbase International UNI-PERP-INTX	+0.0272%	1h	9.1780	−0.073%	$1.1M	$4.9M	50x	as long as short
Reya UNIRUSDPERP	+0.0366%	1h	9.1733	−0.124%	$17K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]long	L +0.0381% / S −0.0323%	1h	9.1847	long leg	$580K	—	120x
Kraken Futures PF_UNIUSD	+0.0382%	1h	9.1974	+0.138%	$5.1M	$7.1M	50x	as long as short
Hyperliquid UNI	+0.0549%	1h	9.1890	+0.047%	$101.2M	$59.9M	10x	as long as short
Lighter UNI	+0.0944%	1h	9.1795	−0.057%	$4.7M	$5.3M	15x	as long as short
Aftermath Perps UNIUSD	+0.1003%	1h	9.2214	+0.400%	$978	$49K	10x	as long as short