Funding arb · Price arb /

UNI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h +0.190%

Price spread now: Injective against GRVT−3.191%7-day average +0.215% · you buy dearer than you sell

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

Long on GRVT Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.513%−$51 on $10k

Price spread, last 3 days (all we have)+3.383%+$338 · spread now −3.191%, 7d avg +0.215%

Together, before fees+2.870%+ Points / potential airdropGRVT: Active · farm board+$287 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 3.406% cheaper against GRVT than usual: you would sell low and buy high (−$341 if the spread goes back to its 7-day average of +0.215%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT UNI_USDT_Perp	9.1211	0.0100	pay 0.0100% / 8h	7h 40m	$637K	$2.6M	10x
Short	Injective UNI/USDC PERP	8.8300	0.0033	get 0.0004% / 1h	40m 49s	$660	$154K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against GRVT. 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 GRVTbpFee InjectivebpOrdersPrice spread, now −3.191%Rate

Funding earned: −$14
Price spread: −3.191% → +0.215%: −$340.61
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$363.63
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: GRVT: live order book, 3 min ago; Injective: 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	6.57 bp	13.8 bp −$14	27.5 bp −$275	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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
Phemex UNIUSDT	−0.0126%	8h	9.1920	+0.778%	$27.7M	$4.5M	50x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0005%	1h	9.1833	+0.683%	$75K	—	150x	as long as short
Injective UNI/USDC PERPshort	+0.0033%	1h	8.8300	−3.191%	$660	$154K	12x
01 Exchange UNIUSD	+0.0056%	1h	9.1793	+0.639%	$458	—	10x	as long as short
OKX UNI-USDT-SWAP	+0.0095%	8h	9.2000	+0.866%	$56.6M	$256.0M	50x	as long as short
Nado UNI-PERP	+0.0100%	1h	9.1670	+0.504%	$967K	$4.3M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	9.2038	+0.907%	$1.1M	$3.4M	50x	as long as short
Pacifica UNI	+0.0100%	1h	9.1710	+0.548%	$307K	$592K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	9.2010	+0.876%	$230.3M	$591.6M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	9.1980	+0.844%	$103.5M	$106.5M	75x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus UNI-USD	+0.0100%	1h	9.1800	+0.646%	$273K	$616K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	9.1990	+0.855%	$23.2M	$58.1M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	9.1980	+0.844%	$45.1M	$23.7M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	9.2000	+0.866%	$13.9M	$13.4M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	9.1950	+0.811%	$33.7M	$41.9M	75x	as long as short
BingX UNI-USDT	+0.0100%	8h	9.1980	+0.844%	—	$52.2M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	9.1959	+0.821%	$1.1M	$2.4M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	9.1681	+0.516%	$4.2M	$4.4M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	9.1327	+0.128%	$172K	$342K	20x	as long as short
GRVT UNI_USDT_Perplong	+0.0100%	8h	9.1211	long leg	$637K	$2.6M	10x
ApeX Omni UNIUSDT	+0.0100%	1h	9.1370	+0.175%	$89K	$708K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	9.1640	+0.471%	$36K	$3.3M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	9.1820	+0.668%	$86K	$375K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	9.1850	+0.701%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	9.2018	+0.885%	$38K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	9.1950	+0.811%	$21K	$712K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	9.2020	+0.887%	$735K	$4.4M	75x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	9.1664	+0.497%	$26K	—	20x	as long as short
Extended UNI-USD	+0.0104%	1h	9.1938	+0.798%	$305K	$1.5M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	9.1950	+0.811%	$33K	—	3x	as long as short
dYdX UNI-USD	+0.0153%	1h	9.1616	+0.445%	$253K	$7K	10x	as long as short
BloFin UNI-USDT	+0.0220%	8h	9.1850	+0.701%	$10.1M	$3.6M	75x	as long as short
Coinbase International UNI-PERP-INTX	+0.0272%	1h	9.2030	+0.898%	$1.1M	$5.6M	50x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0356%	1h	9.1992	+0.857%	$593K	$178K	50x	as long as short
Reya UNIRUSDPERP	+0.0366%	1h	9.1763	+0.606%	$17K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0382% / S −0.0323%	1h	9.1822	+0.670%	$581K	—	120x	as long as short
Kraken Futures PF_UNIUSD	+0.0382%	1h	9.2000	+0.865%	$5.1M	$7.0M	50x	as long as short
Hyperliquid UNI	+0.0429%	1h	9.2071	+0.943%	$101.2M	$60.2M	10x	as long as short
Lighter UNI	+0.0824%	1h	9.2126	+1.004%	$4.7M	$5.2M	15x	as long as short
Aftermath Perps UNIUSD	+0.0848%	1h	9.1229	+0.020%	$1K	$49K	10x	as long as short