Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.056%

Price spread now: GRVT against Hyperliquid+0.128%85s7-day average −0.062% · you sell dearer than you buy

Net, funding: paid 7d − costs−$54as 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−$350.348% of the position

Long on Hyperliquid Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.194%−$19 on $10k

Price spread, last 7 days−0.135%−$14 · spread now +0.128%, 7d avg −0.062%

Together, before fees−0.330%+ Points / potential airdropHyperliquid: Season 2 · GRVT: Active · farm board−$33 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: GRVT is 0.190% dearer against Hyperliquid than usual: you sell high and buy low, +$19 on $10k if it goes back to its 7-day average of −0.062%. The two prices were read 85 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	Hyperliquid UNI	8.8248	0.0100	pay 0.0013% / 1h	14m 12s	$95.6M	$60.2M	10x
Short	GRVT UNI_USDT_Perp	8.8362	0.0100	get 0.0100% / 8h	3h 14m	$614K	$2.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against Hyperliquid. 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 HyperliquidbpFee GRVTbpOrdersPrice spread, now +0.128%Rate

Funding earned: $0
Price spread: +0.128% → −0.062%: $19
Slippage, 4 orders: −$16.84
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$15.84
Costs to cover: 0.348%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 14 min ago; GRVT: live order book, 4 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 Hyperliquid live order book, 14 min ago	0.06 bp	8.0 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell GRVT live order book, 4 min ago	1.70 bp	12.6 bp −$13	26.2 bp −$262	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	−0.0198%	8h	8.8316	+0.077%	$3.9M	$4.9M	—	as long as short
Bybit UNIUSDT	−0.0187%	8h	8.8090	−0.180%	$102.7M	$105.5M	75x	as long as short
Deribit UNI_USDC-PERPETUAL	0.0000%	1h	8.8264	+0.018%	$551K	$129K	50x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0006%	1h	8.8204	−0.050%	$79K	—	150x	as long as short
OKX UNI-USDT-SWAP	+0.0011%	8h	8.8110	−0.157%	$54.6M	$246.7M	50x	as long as short
01 Exchange UNIUSD	+0.0080%	1h	8.8215	−0.038%	$440	—	10x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.8180	−0.078%	$25K	—	20x	as long as short
Nado UNI-PERP	+0.0100%	1h	8.8152	−0.109%	$843K	$4.0M	10x	as long as short
Hyperliquid UNIlong	+0.0100%	1h	8.8248	long leg	$95.6M	$60.2M	10x
Aster UNIUSDT	+0.0100%	8h	8.8225	−0.026%	$1.0M	$3.4M	50x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica UNI	+0.0100%	1h	8.8210	−0.044%	$297K	$562K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	8.8157	−0.104%	$216.0M	$599.5M	75x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.8260	+0.013%	$272K	$600K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.8130	−0.134%	$22.6M	$59.7M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.8160	−0.100%	$43.0M	$24.7M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.8160	−0.100%	$13.8M	$13.7M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.8100	−0.168%	$31.9M	$41.3M	75x	as long as short
BingX UNI-USDT	+0.0100%	8h	8.8110	−0.157%	—	$50.6M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	8.8180	−0.078%	$975K	$2.4M	10x	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.8358	+0.124%	$166K	$344K	20x	as long as short
GRVT UNI_USDT_Perpshort	+0.0100%	8h	8.8362	+0.128%	$614K	$2.6M	10x
ApeX Omni UNIUSDT	+0.0100%	1h	8.8390	+0.160%	$83K	$726K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.8400	+0.172%	$105K	$3.3M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.8193	−0.063%	$88K	$342K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.8190	−0.066%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.8242	−0.007%	$36K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.8187	−0.070%	$25K	$670K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.8244	−0.005%	$699K	$4.2M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.8130	−0.134%	$26.5M	$4.4M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	8.8156	−0.105%	$306K	$1.4M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.8205	−0.049%	$31K	$1K	3x	as long as short
Coinbase International UNI-PERP-INTX	+0.0192%	1h	8.8370	+0.138%	$1.0M	$5.3M	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.8190	−0.066%	$9.8M	$3.3M	75x	as long as short
dYdX UNI-USD	+0.0235%	1h	8.8221	−0.031%	$244K	$5K	10x	as long as short
Kraken Futures PF_UNIUSD	+0.0318%	1h	8.8231	−0.020%	$4.9M	$7.3M	50x	as long as short
Reya UNIRUSDPERP	+0.0358%	1h	8.8132	−0.131%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0320%	1h	8.8164	−0.096%	$553K	—	120x	as long as short
Aftermath Perps UNIUSD	+0.0581%	1h	8.8327	+0.088%	$1K	$51K	10x	as long as short
Lighter UNI	+0.0672%	1h	8.8322	+0.083%	$4.5M	$5.4M	15x	as long as short
Injective UNI/USDC PERP	+0.4514%	1h	8.7900	−0.395%	$657	$97K	12x	as long as short