Funding arb · Price arb /

UNI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0149%/8h= −16.4% APRpaid last 24h +0.172%

Price spread now: Injective against HTX−1.971%65s7-day average +0.122% · you buy dearer than you sell

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

Long on HTX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.538%−$54 on $10k

Price spread, last 3 days (all we have)+1.905%+$190 · spread now −1.971%, 7d avg +0.122%

Together, before fees+1.367%+$137 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Injective is 2.093% cheaper against HTX than usual: you would sell low and buy high (−$209 if the spread goes back to its 7-day average of +0.122%). Swap the legs. The two prices were read 65 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	HTX UNI-USDT	9.0075	0.0100	pay 0.0100% / 8h	31m 56s	$735K	$4.3M	75x
Short	Injective UNI/USDC PERP	8.8300	−0.0049	pay 0.0006% / 1h	31m 56s	$660	$155K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against HTX. 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 HTXbpFee InjectivebpOrdersPrice spread, now −1.971%Rate

Funding earned: −$31.39
Price spread: −1.971% → +0.122%: −$209.28
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$252.7
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: HTX: live order book, 2 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 HTX live order book, 2 min ago	10.14 bp	16.3 bp −$16	63.5 bp −$635	369.5 bp −$37.0K	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
Injective UNI/USDC PERPshort	−0.0049%	1h	8.8300	−1.971%	$660	$155K	12x
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0004%	1h	8.9997	−0.086%	$62K	—	150x	as long as short
Variational Omni UNI	+0.0033%	8h	9.0185	+0.122%	$4.1M	$4.4M	—	as long as short
dYdX UNI-USD	+0.0043%	1h	9.0186	+0.123%	$250K	$6K	10x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0060%	1h	8.9965	−0.122%	$579K	$176K	50x	as long as short
Bybit UNIUSDT	+0.0077%	8h	8.9980	−0.105%	$102.3M	$105.0M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0089%	8h	8.9970	−0.117%	$55.2M	$249.2M	50x	as long as short
Nado UNI-PERP	+0.0100%	1h	9.0035	−0.044%	$951K	$4.2M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	9.0020	−0.061%	$1.0M	$3.3M	50x	as long as short
Pacifica UNI	+0.0100%	1h	9.0185	+0.123%	$298K	$591K	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	9.0029	−0.051%	$222.6M	$589.6M	75x	as long as short
Arcus UNI-USD	+0.0100%	1h	9.0220	+0.161%	$278K	$620K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	9.0000	−0.083%	$23.0M	$58.7M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.9990	−0.094%	$43.6M	$24.0M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.9950	−0.139%	$13.7M	$13.5M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.9960	−0.128%	$32.9M	$42.0M	75x	as long as short
BingX UNI-USDT	+0.0100%	8h	8.9990	−0.094%	—	$51.9M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	8.9997	−0.087%	$1.0M	$2.4M	10x	as long as short
edgeX UNIUSDC	+0.0100%	4h	9.0357	+0.313%	$170K	$343K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	9.0280	+0.228%	$638K	$2.5M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	9.0110	+0.039%	$88K	$714K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	9.0340	+0.294%	$36K	$3.3M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	9.0030	−0.050%	$87K	$361K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.9940	−0.150%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	9.0000	−0.083%	$36K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.9920	−0.172%	$25K	$674K	10x	as long as short
HTX UNI-USDTlong	+0.0100%	8h	9.0075	long leg	$735K	$4.3M	75x
Phemex UNIUSDT	+0.0100%	8h	8.9940	−0.150%	$27.1M	$4.5M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	9.0128	+0.059%	$26K	—	20x	as long as short
Extended UNI-USD	+0.0104%	1h	8.9954	−0.134%	$303K	$1.5M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.9955	−0.133%	$32K	$1K	3x	as long as short
01 Exchange UNIUSD	+0.0192%	1h	9.0149	+0.082%	$450	—	10x	as long as short
BloFin UNI-USDT	+0.0220%	8h	9.0200	+0.139%	$10.1M	$3.5M	75x	as long as short
Coinbase International UNI-PERP-INTX	+0.0232%	1h	9.0030	−0.050%	$1.1M	$5.4M	50x	as long as short
Reya UNIRUSDPERP	+0.0364%	1h	8.9966	−0.121%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0380% / S −0.0320%	1h	8.9988	−0.097%	$567K	—	120x	as long as short
Kraken Futures PF_UNIUSD	+0.0563%	1h	8.9967	−0.120%	$5.0M	$7.0M	50x	as long as short
Hyperliquid UNI	+0.0577%	1h	9.0047	−0.031%	$98.8M	$59.0M	10x	as long as short
Aftermath Perps UNIUSD	+0.0797%	1h	9.0257	+0.202%	$1K	$49K	10x	as long as short
Lighter UNI	+0.0944%	1h	9.0110	+0.039%	$4.6M	$5.2M	15x	as long as short