Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0144%/8h= +15.8% APRpaid last 24h +0.099%

Price spread now: GMX against GRVT+0.430%69s7-day average −0.004% · you sell dearer than you buy

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

Long on GRVT Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.101%+$10 on $10k

Price spread, last 3 days (all we have)−0.360%−$36 · spread now +0.430%, 7d avg −0.004%

Together, before fees−0.259%+ Points / potential airdropGRVT: Active · farm board−$26 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and GMX is 0.433% dearer against GRVT than usual: you sell high and buy low: +$43 more if the spread goes back to its 7-day average of −0.004%. The two prices were read 69 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	9.0830	0.0100	pay 0.0100% / 8h	6h 06m	$639K	$2.6M	10x
Short	GMX UNI/USD [UNI-USDC]	9.1220	L +0.0381% / S −0.0244%	get 0.0030% / 1h	6m 03s	$649K	—	120x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now +0.430%Rate

Funding earned: $30.22
Price spread: +0.430% → −0.004%: $43.35
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee GMX: 6 bp × 2 orders: −$12
Net: $52.56
Costs to cover: 0.210%
Break-even: from the start

Slippage unknown: GRVT: live order book, 3 min ago; GMX: 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 GRVT live order book, 3 min ago	3.84 bp	14.3 bp −$14	18.3 bp −$183	3287.8 bp −$328.8K	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

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 39 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	9.1219	+0.428%	$19K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−2.785%	$660	$154K	12x	as long as short
01 Exchange UNIUSD	+0.0072%	1h	9.1235	+0.446%	$455	$5	10x	as long as short
dYdX UNI-USD	+0.0083%	1h	9.1232	+0.442%	$240K	$30K	10x	as long as short
Nado UNI-PERP	+0.0100%	1h	9.1125	+0.325%	$967K	$4.3M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	9.1328	+0.549%	$1.1M	$2.9M	50x	as long as short
Pacifica UNI	+0.0100%	1h	9.1239	+0.450%	$298K	$568K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	9.1352	+0.574%	$228.6M	$611.0M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	9.1340	+0.561%	$102.4M	$107.7M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	9.1360	+0.584%	$56.5M	$255.9M	50x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus UNI-USD	+0.0100%	1h	9.1290	+0.506%	$289K	$640K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	9.1290	+0.506%	$23.5M	$59.3M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	9.1320	+0.539%	$49.9M	$26.4M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	9.1330	+0.550%	$13.8M	$12.8M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	9.1270	+0.484%	$33.4M	$42.8M	75x	as long as short
BingX UNI-USDT	+0.0100%	8h	9.1300	+0.517%	—	$56.9M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	9.1299	+0.516%	$1.0M	$2.3M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	9.1159	+0.362%	$4.2M	$4.3M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	9.0788	−0.046%	$171K	$344K	20x	as long as short
GRVT UNI_USDT_Perplong	+0.0100%	8h	9.0830	long leg	$639K	$2.6M	10x
ApeX Omni UNIUSDT	+0.0100%	1h	9.0740	−0.099%	$89K	$699K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	9.1080	+0.275%	$56K	$3.3M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	9.1213	+0.422%	$87K	$410K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	9.1240	+0.451%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	9.1300	+0.517%	$37K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	9.1241	+0.452%	$22K	$728K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	9.1344	+0.566%	$726K	$4.2M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	9.1270	+0.484%	$27.6M	$4.5M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	9.1146	+0.348%	$26K	—	20x	as long as short
Extended UNI-USD	+0.0104%	1h	9.1186	+0.392%	$303K	$1.5M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	9.1253	+0.465%	$32K	—	3x	as long as short
Hyperliquid UNI	+0.0241%	1h	9.1420	+0.650%	$99.4M	$58.9M	10x	as long as short
Coinbase International UNI-PERP-INTX	+0.0312%	1h	9.1250	+0.462%	$1.1M	$4.8M	50x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0319%	1h	9.1291	+0.508%	$592K	$188K	50x	as long as short
Reya UNIRUSDPERP	+0.0369%	1h	9.1144	+0.346%	$17K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]short	L +0.0381% / S −0.0244%	1h	9.1220	+0.430%	$649K	—	120x
Kraken Futures PF_UNIUSD	+0.0420%	1h	9.1292	+0.509%	$5.1M	$6.9M	50x	as long as short
Lighter UNI	+0.0504%	1h	9.1419	+0.648%	$4.7M	$5.3M	15x	as long as short
Aftermath Perps UNIUSD	+0.0952%	1h	9.1163	+0.367%	$1K	$48K	10x	as long as short