Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0086%/8h= +9.5% APRpaid last 24h +0.035%

Price spread now: dYdX against GRVT+0.213%50s7-day average −0.051% · you sell dearer than you buy

Net, funding: paid 7d − costs−$242as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$2662.657% of the position

Long on GRVT Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.235%+$24 on $10k

Price spread, last 4 days (all we have)−0.496%−$50 · spread now +0.213%, 7d avg −0.051%

Together, before fees−0.261%+ Points / potential airdropGRVT: Active · farm board−$26 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and dYdX is 0.263% dearer against GRVT than usual: you sell high and buy low: +$26 more if the spread goes back to its 7-day average of −0.051%. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT UNI_USDT_Perp	9.0740	0.0100	pay 0.0100% / 8h	4h 00m	$643K	$2.8M	10x
Short	dYdX UNI-USD	9.0933	0.0186	get 0.0023% / 1h	0m 10s	$239K	$30K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against GRVT. 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 GRVTbpFee dYdXbpOrdersPrice spread, now +0.213%Rate

Funding earned: $18.15
Price spread: +0.213% → −0.051%: $26.34
Slippage, 4 orders: −$246.72
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$221.23
Costs to cover: 2.657%
Break-even: 92.3 days

Slippage from GRVT: live order book, 4 min ago; dYdX: live order book, 59 min ago.

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 GRVT live order book, 4 min ago	1.65 bp	12.5 bp −$12	20.4 bp −$204	3929.7 bp −$393.0K	doesn't fit
Sell dYdX live order book, 59 min ago	31.23 bp	206.9 bp −$207	209.7 bp −$2,097	217.5 bp −$21.8K	478.8 bp −$239.4K

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	9.0907	+0.185%	$37K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−2.689%	$660	$154K	12x	as long as short
01 Exchange UNIUSD	+0.0056%	1h	9.0889	+0.164%	$454	$5	10x	as long as short
Nado UNI-PERP	+0.0100%	1h	9.0835	+0.105%	$968K	$4.4M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	9.0966	+0.249%	$818K	$3.5M	50x	as long as short
Pacifica UNI	+0.0100%	1h	9.0959	+0.242%	$294K	$600K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	9.0858	+0.130%	$223.2M	$639.8M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	9.0800	+0.066%	$102.1M	$111.5M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	9.0820	+0.088%	$55.4M	$262.5M	50x	as long as short
Arcus UNI-USD	+0.0100%	1h	9.0910	+0.188%	$317K	$652K	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	9.0850	+0.121%	$23.7M	$64.0M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	9.0860	+0.132%	$47.9M	$25.5M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	9.0920	+0.199%	$13.6M	$13.1M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	9.0840	+0.110%	$33.5M	$45.1M	75x	as long as short
BingX UNI-USDT	+0.0100%	8h	9.0840	+0.110%	—	$56.6M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	9.0905	+0.182%	$1.0M	$2.3M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	9.0909	+0.187%	$4.3M	$4.1M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	9.0773	+0.037%	$171K	$346K	20x	as long as short
GRVT UNI_USDT_Perplong	+0.0100%	8h	9.0740	long leg	$643K	$2.8M	10x
ApeX Omni UNIUSDT	+0.0100%	1h	9.0840	+0.110%	$96K	$702K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	9.0690	−0.055%	$16K	$3.4M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	9.0924	+0.203%	$86K	$430K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	9.0910	+0.188%	$16K	$1.5M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	9.0929	+0.209%	$37K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	9.0860	+0.132%	$22K	$792K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	9.1003	+0.290%	$732K	$4.7M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	9.0870	+0.144%	$27.5M	$4.4M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	9.0806	+0.073%	$26K	—	20x	as long as short
Extended UNI-USD	+0.0104%	1h	9.0880	+0.155%	$293K	$1.6M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	9.0929	+0.209%	$32K	—	3x	as long as short
dYdX UNI-USDshort	+0.0186%	1h	9.0933	+0.213%	$239K	$30K	10x
Lighter UNI	+0.0208%	1h	9.1000	+0.287%	$4.6M	$5.9M	15x	as long as short
BloFin UNI-USDT	+0.0220%	8h	9.0980	+0.265%	$10.3M	$3.6M	75x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0248%	1h	9.0974	+0.258%	$583K	$208K	50x	as long as short
Coinbase International UNI-PERP-INTX	+0.0248%	1h	9.0930	+0.210%	$953K	$5.9M	50x	as long as short
Kraken Futures PF_UNIUSD	+0.0269%	1h	9.0932	+0.212%	$5.0M	$8.0M	50x	as long as short
Hyperliquid UNI	+0.0299%	1h	9.0937	+0.217%	$98.5M	$62.4M	10x	as long as short
Reya UNIRUSDPERP	+0.0373%	1h	9.0877	+0.151%	$17K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0244%	1h	9.0916	+0.194%	$647K	—	120x	as long as short
Aftermath Perps UNIUSD	+0.0905%	1h	9.0821	+0.090%	$923	$46K	10x	as long as short