Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h −0.170%

Price spread now: Bitget against Injective+4.134%7-day average −0.267% · you sell dearer than you buy

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

Long on Injective Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.485%+$48 on $10k

Price spread, last 3 days (all we have)−4.325%−$433 · spread now +4.134%, 7d avg −0.267%

Together, before fees−3.840%−$384 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Bitget is 4.401% dearer against Injective than usual: you sell high and buy low: +$440 more if the spread goes back to its 7-day average of −0.267%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective UNI/USDC PERP	8.8300	0.0033	pay 0.0004% / 1h	20m 48s	$660	$154K	12x
Short	Bitget UNIUSDT	9.1950	0.0100	get 0.0100% / 8h	7h 20m	$33.9M	$43.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Injective. 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 InjectivebpFee BitgetbpOrdersPrice spread, now +4.134%Rate

Funding earned: $14
Price spread: +4.134% → −0.267%: $440.1
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Bitget: 6 bp × 2 orders: −$12
Net: $442.08
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Bitget: live order book, 3 min ago. 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 Injective no order-book sample	—	—	—	—	—
Sell Bitget live order book, 3 min ago	1.08 bp	9.8 bp −$10	16.3 bp −$163	35.6 bp −$3,555	doesn't fit

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
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0004%	1h	9.2041	+4.236%	$39K	—	150x	as long as short
Injective UNI/USDC PERPlong	+0.0033%	1h	8.8300	long leg	$660	$154K	12x
01 Exchange UNIUSD	+0.0080%	1h	9.2019	+4.212%	$459	—	10x	as long as short
dYdX UNI-USD	+0.0095%	1h	9.2195	+4.411%	$243K	$20K	10x	as long as short
Nado UNI-PERP	+0.0100%	1h	9.2045	+4.241%	$1.0M	$4.3M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	9.2116	+4.321%	$1.1M	$2.9M	50x	as long as short
Pacifica UNI	+0.0100%	1h	9.2173	+4.386%	$307K	$586K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	9.2150	+4.360%	$231.3M	$603.1M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	9.2090	+4.292%	$104.0M	$107.9M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	9.2040	+4.236%	$56.9M	$259.0M	50x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus UNI-USD	+0.0100%	1h	9.2230	+4.451%	$274K	$616K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	9.2120	+4.326%	$23.5M	$60.0M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	9.2140	+4.349%	$46.2M	$24.3M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	9.2160	+4.371%	$13.7M	$13.6M	75x	as long as short
Bitget UNIUSDTshort	+0.0100%	8h	9.1950	+4.134%	$33.9M	$43.0M	75x
BingX UNI-USDT	+0.0100%	8h	9.2130	+4.337%	—	$56.5M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	9.2067	+4.266%	$1.0M	$2.4M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	9.2000	+4.190%	$4.2M	$4.4M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	9.2914	+5.226%	$175K	$344K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	9.2775	+5.068%	$648K	$2.6M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	9.2790	+5.085%	$91K	$707K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	9.2730	+5.017%	$51K	$3.3M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	9.2109	+4.314%	$85K	$384K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	9.2030	+4.224%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	9.2077	+4.277%	$37K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	9.2069	+4.268%	$22K	$717K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	9.2068	+4.267%	$727K	$4.4M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	9.2050	+4.247%	$27.7M	$4.5M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	9.2158	+4.369%	$26K	—	20x	as long as short
Extended UNI-USD	+0.0104%	1h	9.2159	+4.370%	$312K	$1.5M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	9.2070	+4.270%	$33K	—	3x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0124%	1h	9.2095	+4.298%	$595K	$184K	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	9.2020	+4.213%	$10.3M	$3.6M	75x	as long as short
Coinbase International UNI-PERP-INTX	+0.0272%	1h	9.2160	+4.371%	$1.1M	$4.9M	50x	as long as short
Reya UNIRUSDPERP	+0.0366%	1h	9.1998	+4.188%	$17K	—	20x	as long as short
Kraken Futures PF_UNIUSD	+0.0381%	1h	9.2110	+4.315%	$5.1M	$7.1M	50x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0323%	1h	9.2015	+4.207%	$582K	—	120x	as long as short
Hyperliquid UNI	+0.0561%	1h	9.2088	+4.290%	$101.5M	$59.8M	10x	as long as short
Lighter UNI	+0.0968%	1h	9.2270	+4.496%	$4.7M	$5.3M	15x	as long as short
Aftermath Perps UNIUSD	+0.1019%	1h	9.2509	+4.767%	$936	$49K	10x	as long as short