Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0348%/8h= +38.1% APRpaid last 24h +0.162%

Price spread now: Lighter against HTX−0.009%7-day average +0.028% · you buy dearer than you sell

Net, funding: paid 7d − costs−$16as in the Funding arb table

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$420.419% of the position

Long on HTX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.260%+$26 on $10k

Price spread, last 3 days (all we have)−0.131%−$13 · spread now −0.009%, 7d avg +0.028%

Together, before fees+0.129%+ Points / potential airdropLighter: Season 3 · farm board+$13 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.037% cheaper against HTX than usual: you would sell low and buy high (spread −0.009% now, against its 7-day average of +0.028%). If the spread goes back, that is −$4 on $10k: about 9 hours of funding at the current rate (+$10 a day). At the pace of the last 7 days (+0.260% in total) that is about 24 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX UNI-USDT	8.8493	0.0100	pay 0.0100% / 8h	2h 47m	$723K	$4.3M	75x
Short	Lighter UNI	8.8485	0.0448	get 0.0056% / 1h	47m 11s	$4.5M	$5.3M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against HTX. 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 HTXbpFee LighterbpOrdersPrice spread, now −0.009%Rate

Funding earned: $73.08
Price spread: −0.009% → +0.028%: −$3.7
Slippage, 4 orders: −$29.91
Fee HTX: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: $27.46
Costs to cover: 0.419%
Break-even: 4.4 days

Slippage from HTX: live order book, 2 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 HTX live order book, 2 min ago	6.23 bp	17.2 bp −$17	56.8 bp −$568	doesn't fit	doesn't fit
Sell Lighter live order book, 6 min ago	0.68 bp	2.8 bp −$3	9.7 bp −$97	99.0 bp −$9,897	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	−0.0200%	8h	8.7965	−0.596%	$3.9M	$4.6M	—	as long as short
Bybit UNIUSDT	−0.0187%	8h	8.8220	−0.308%	$102.7M	$103.8M	75x	as long as short
01 Exchange UNIUSD	−0.0040%	1h	8.8343	−0.170%	$441	—	10x	as long as short
Deribit UNI_USDC-PERPETUAL	0.0000%	1h	8.8400	−0.105%	$552K	$125K	50x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0006%	1h	8.8386	−0.120%	$80K	—	150x	as long as short
OKX UNI-USDT-SWAP	+0.0007%	8h	8.8220	−0.308%	$54.4M	$244.7M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.8243	−0.283%	$25K	—	20x	as long as short
Nado UNI-PERP	+0.0100%	1h	8.8315	−0.201%	$849K	$3.9M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.8388	−0.119%	$1.0M	$3.4M	50x	as long as short
Pacifica UNI	+0.0100%	1h	8.8265	−0.258%	$296K	$559K	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	8.8293	−0.226%	$216.3M	$593.1M	75x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.8380	−0.128%	$273K	$605K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.8230	−0.297%	$22.9M	$58.9M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.8290	−0.229%	$42.8M	$24.4M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.8300	−0.218%	$13.8M	$13.6M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.8230	−0.297%	$31.9M	$41.0M	75x	as long as short
BingX UNI-USDT	+0.0100%	8h	8.8230	−0.297%	—	$49.8M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	8.8299	−0.219%	$976K	$2.4M	10x	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.8078	−0.469%	$166K	$343K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.8080	−0.467%	$613K	$2.6M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.8070	−0.478%	$83K	$713K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.8170	−0.365%	$105K	$3.2M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.8355	−0.156%	$87K	$324K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.8340	−0.173%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.8385	−0.122%	$36K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.8290	−0.229%	$28K	$659K	10x	as long as short
HTX UNI-USDTlong	+0.0100%	8h	8.8493	long leg	$723K	$4.3M	75x
Phemex UNIUSDT	+0.0100%	8h	8.8340	−0.173%	$26.6M	$4.4M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	8.8278	−0.243%	$306K	$1.4M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.8342	−0.170%	$31K	$1K	3x	as long as short
dYdX UNI-USD	+0.0154%	1h	8.8260	−0.263%	$244K	$5K	10x	as long as short
Coinbase International UNI-PERP-INTX	+0.0200%	1h	8.8390	−0.116%	$1.0M	$5.3M	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.8250	−0.275%	$9.8M	$3.3M	75x	as long as short
Kraken Futures PF_UNIUSD	+0.0269%	1h	8.8370	−0.139%	$4.9M	$7.1M	50x	as long as short
Hyperliquid UNI	+0.0348%	1h	8.8390	−0.116%	$96.0M	$59.7M	10x	as long as short
Reya UNIRUSDPERP	+0.0359%	1h	8.8327	−0.188%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0380% / S −0.0320%	1h	8.8377	−0.131%	$554K	—	120x	as long as short
Lighter UNIshort	+0.0448%	1h	8.8485	−0.009%	$4.5M	$5.3M	15x
Aftermath Perps UNIUSD	+0.0469%	1h	8.8203	−0.327%	$1K	$50K	10x	as long as short
Injective UNI/USDC PERP	+0.2702%	1h	8.7900	−0.670%	$657	$97K	12x	as long as short