Funding arb · Price arb /

UNI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.020%

Price spread now: Phemex against GRVT+0.138%77s7-day average +0.012% · you sell dearer than you buy

Net, funding: paid 7d − costs−$69as 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−$690.687% of the position

Long on GRVT Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.001%$0 on $10k

Price spread, last 3 days (all we have)+0.133%+$13 · spread now +0.138%, 7d avg +0.012%

Together, before fees+0.134%+ Points / potential airdropGRVT: Active · farm board+$13 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.126% dearer against GRVT than usual: you sell high and buy low, +$13 on $10k if it goes back to its 7-day average of +0.012%. The two prices were read 77 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	8.8428	0.0100	pay 0.0100% / 8h	2h 34m	$618K	$2.5M	10x
Short	Phemex UNIUSDT	8.8550	0.0100	get 0.0100% / 8h	2h 34m	$26.7M	$4.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.138%Rate

Funding earned: $0
Price spread: +0.138% → +0.012%: $12.62
Slippage, 4 orders: −$47.65
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$56.04
Costs to cover: 0.687%
Break-even: never at this rate

Slippage from GRVT: live order book, 4 min ago; Phemex: live order book, 5 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	1.13 bp	11.8 bp −$12	34.7 bp −$347	doesn't fit	doesn't fit
Sell Phemex live order book, 5 min ago	8.49 bp	21.8 bp −$22	38.5 bp −$385	doesn't fit	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
Variational Omni UNI	−0.0185%	8h	8.8292	−0.154%	$3.9M	$4.6M	—	as long as short
Bybit UNIUSDT	−0.0156%	8h	8.8490	+0.070%	$102.3M	$104.5M	75x	as long as short
01 Exchange UNIUSD	0.0000%	1h	8.8567	+0.157%	$442	—	10x	as long as short
Deribit UNI_USDC-PERPETUAL	0.0000%	1h	8.8567	+0.157%	$553K	$125K	50x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0006%	1h	8.8540	+0.127%	$80K	—	150x	as long as short
OKX UNI-USDT-SWAP	+0.0013%	8h	8.8480	+0.059%	$54.4M	$245.5M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.8517	+0.101%	$25K	—	20x	as long as short
Nado UNI-PERP	+0.0100%	1h	8.8510	+0.093%	$848K	$3.9M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.8632	+0.230%	$1.0M	$3.4M	50x	as long as short
Pacifica UNI	+0.0100%	1h	8.8575	+0.166%	$296K	$561K	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance UNIUSDT	+0.0100%	8h	8.8507	+0.089%	$216.5M	$593.5M	75x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.8610	+0.206%	$273K	$612K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.8520	+0.104%	$23.0M	$59.1M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.8530	+0.115%	$42.9M	$24.5M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.8530	+0.115%	$13.8M	$13.7M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.8500	+0.081%	$32.0M	$41.0M	75x	as long as short
BingX UNI-USDT	+0.0100%	8h	8.8510	+0.093%	—	$49.9M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	8.8638	+0.237%	$985K	$2.3M	10x	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.8350	−0.089%	$166K	$342K	20x	as long as short
GRVT UNI_USDT_Perplong	+0.0100%	8h	8.8428	long leg	$618K	$2.5M	10x
ApeX Omni UNIUSDT	+0.0100%	1h	8.8490	+0.070%	$84K	$712K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.8560	+0.149%	$105K	$3.2M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.8555	+0.143%	$87K	$323K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.8510	+0.093%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.8564	+0.154%	$36K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.8505	+0.087%	$25K	$661K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.8657	+0.259%	$724K	$4.3M	75x	as long as short
Phemex UNIUSDTshort	+0.0100%	8h	8.8550	+0.138%	$26.7M	$4.3M	50x
Extended UNI-USD	+0.0104%	1h	8.8468	+0.045%	$298K	$1.4M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.8528	+0.113%	$31K	$1K	3x	as long as short
dYdX UNI-USD	+0.0104%	1h	8.8586	+0.178%	$245K	$5K	10x	as long as short
Coinbase International UNI-PERP-INTX	+0.0200%	1h	8.8640	+0.240%	$1.0M	$5.3M	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.8480	+0.059%	$9.8M	$3.3M	75x	as long as short
Kraken Futures PF_UNIUSD	+0.0269%	1h	8.8584	+0.177%	$4.9M	$7.1M	50x	as long as short
Hyperliquid UNI	+0.0311%	1h	8.8611	+0.207%	$96.4M	$59.8M	10x	as long as short
Reya UNIRUSDPERP	+0.0360%	1h	8.8493	+0.074%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0379% / S −0.0320%	1h	8.8532	+0.118%	$555K	—	120x	as long as short
Aftermath Perps UNIUSD	+0.0475%	1h	8.8525	+0.110%	$1K	$50K	10x	as long as short
Lighter UNI	+0.0536%	1h	8.8700	+0.307%	$4.5M	$5.4M	15x	as long as short
Injective UNI/USDC PERP	+0.2702%	1h	8.7900	−0.597%	$657	$97K	12x	as long as short