Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.191%

Price spread now: Lighter against GRVT+0.312%48s7-day average +0.089% · you sell dearer than you buy

Net, funding: paid 7d − costs+$1as 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−$320.321% of the position

Long on GRVT Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.334%+$33 on $10k

Price spread, last 7 days−0.149%−$15 · spread now +0.312%, 7d avg +0.089%

Together, before fees+0.185%+ Points / potential airdropGRVT: Active · Lighter: Season 3 · farm board+$19 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 Lighter is 0.222% dearer against GRVT than usual: you sell high and buy low: +$22 more if the spread goes back to its 7-day average of +0.089%. The two prices were read 48 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	9.0530	0.0100	pay 0.0100% / 8h	4h 02m	$641K	$2.8M	10x
Short	Lighter UNI	9.0812	0.0200	get 0.0025% / 1h	2m 27s	$4.6M	$5.9M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.312%Rate

Funding earned: $21
Price spread: +0.312% → +0.089%: $22.22
Slippage, 4 orders: −$23.13
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Lighter: 0 bp × 2 orders: $0
Net: $11.09
Costs to cover: 0.321%
Break-even: 3.3 days

Slippage from GRVT: live order book, 1 min ago; Lighter: live order book, 6 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, 1 min ago	1.65 bp	12.5 bp −$12	20.4 bp −$204	3929.7 bp −$393.0K	doesn't fit
Sell Lighter live order book, 6 min ago	1.65 bp	4.2 bp −$4	18.1 bp −$181	132.8 bp −$13.3K	doesn't fit

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	9.0687	+0.174%	$37K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−2.463%	$660	$154K	12x	as long as short
01 Exchange UNIUSD	+0.0056%	1h	9.0693	+0.180%	$453	$5	10x	as long as short
Nado UNI-PERP	+0.0100%	1h	9.0625	+0.105%	$963K	$4.4M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	9.0732	+0.223%	$817K	$3.5M	50x	as long as short
Pacifica UNI	+0.0100%	1h	9.0700	+0.188%	$293K	$600K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	9.0700	+0.188%	$222.7M	$639.2M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	9.0670	+0.155%	$101.8M	$111.2M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	9.0690	+0.177%	$55.2M	$262.0M	50x	as long as short
Arcus UNI-USD	+0.0100%	1h	9.0790	+0.287%	$314K	$650K	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	9.0660	+0.144%	$23.6M	$64.0M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	9.0670	+0.155%	$47.8M	$25.5M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	9.0690	+0.177%	$13.6M	$13.2M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	9.0660	+0.144%	$33.5M	$45.0M	75x	as long as short
BingX UNI-USDT	+0.0100%	8h	9.0660	+0.144%	—	$56.5M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	9.0849	+0.352%	$1.0M	$2.3M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	9.0449	−0.089%	$4.2M	$4.1M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	9.0520	−0.011%	$171K	$345K	20x	as long as short
GRVT UNI_USDT_Perplong	+0.0100%	8h	9.0530	long leg	$641K	$2.8M	10x
ApeX Omni UNIUSDT	+0.0100%	1h	9.0580	+0.055%	$95K	$702K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	9.0820	+0.320%	$16K	$3.4M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	9.0664	+0.148%	$86K	$430K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	9.0690	+0.177%	$16K	$1.5M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	9.0725	+0.215%	$37K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	9.0700	+0.188%	$22K	$792K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	9.0888	+0.396%	$726K	$4.7M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	9.0810	+0.309%	$27.5M	$4.4M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	9.0655	+0.139%	$26K	—	20x	as long as short
Extended UNI-USD	+0.0104%	1h	9.0655	+0.138%	$293K	$1.6M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	9.0701	+0.189%	$32K	—	3x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0115%	1h	9.0750	+0.243%	$581K	$207K	50x	as long as short
dYdX UNI-USD	+0.0184%	1h	9.0683	+0.169%	$239K	$30K	10x	as long as short
Lighter UNIshort	+0.0200%	1h	9.0812	+0.312%	$4.6M	$5.9M	15x
BloFin UNI-USDT	+0.0220%	8h	9.0840	+0.342%	$10.3M	$3.6M	75x	as long as short
Coinbase International UNI-PERP-INTX	+0.0248%	1h	9.0890	+0.398%	$952K	$5.9M	50x	as long as short
Kraken Futures PF_UNIUSD	+0.0270%	1h	9.0741	+0.233%	$5.0M	$8.0M	50x	as long as short
Hyperliquid UNI	+0.0305%	1h	9.0760	+0.254%	$98.3M	$62.4M	10x	as long as short
Reya UNIRUSDPERP	+0.0373%	1h	9.0637	+0.118%	$17K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0244%	1h	9.0680	+0.166%	$645K	—	120x	as long as short
Aftermath Perps UNIUSD	+0.0919%	1h	9.0713	+0.202%	$875	$46K	10x	as long as short