Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h −0.176%

Price spread now: OKX against Injective+2.945%98s7-day average −0.139% · you sell dearer than you buy

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

Long on Injective Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.426%+$43 on $10k

Price spread, last 4 days (all we have)−3.255%−$325 · spread now +2.945%, 7d avg −0.139%

Together, before fees−2.829%−$283 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 OKX is 3.083% dearer against Injective than usual: you sell high and buy low: +$308 more if the spread goes back to its 7-day average of −0.139%. The two prices were read 98 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	Injective UNI/USDC PERP	8.8300	0.0033	pay 0.0004% / 1h	59m 40s	$660	$154K	12x
Short	OKX UNI-USDT-SWAP	9.0900	0.0100	get 0.0100% / 8h	3h 59m	$55.3M	$262.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Injective. 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 InjectivebpFee OKXbpOrdersPrice spread, now +2.945%Rate

Funding earned: $14
Price spread: +2.945% → −0.139%: $308.31
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee OKX: 5 bp × 2 orders: −$10
Net: $312.29
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; OKX: live order book, 4 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 OKX live order book, 4 min ago	0.55 bp	7.9 bp −$8	14.0 bp −$140	54.1 bp −$5,415	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	9.0907	+2.953%	$37K	—	150x	as long as short
Injective UNI/USDC PERPlong	+0.0033%	1h	8.8300	long leg	$660	$154K	12x
Nado UNI-PERP	+0.0100%	1h	9.0835	+2.871%	$968K	$4.4M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	9.0921	+2.968%	$818K	$3.5M	50x	as long as short
Pacifica UNI	+0.0100%	1h	9.0860	+2.899%	$294K	$602K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	9.0850	+2.888%	$223.2M	$639.8M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	9.0810	+2.843%	$102.1M	$111.5M	75x	as long as short
OKX UNI-USDT-SWAPshort	+0.0100%	8h	9.0900	+2.945%	$55.3M	$262.7M	50x
Arcus UNI-USD	+0.0100%	1h	9.1090	+3.160%	$317K	$652K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	9.0940	+2.990%	$23.7M	$63.1M	75x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC UNI_USDT	+0.0100%	8h	9.0860	+2.899%	$47.9M	$25.4M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	9.0850	+2.888%	$13.6M	$13.1M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	9.0980	+3.035%	$33.5M	$45.1M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	9.0990	+3.046%	—	$6.5M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	9.0905	+2.950%	$1.0M	$2.3M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	9.0909	+2.955%	$4.3M	$4.1M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	9.0773	+2.801%	$171K	$346K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	9.0740	+2.763%	$643K	$2.8M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	9.0840	+2.877%	$96K	$702K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	9.0690	+2.707%	$16K	$3.4M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	9.0924	+2.972%	$86K	$430K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	9.0910	+2.956%	$16K	$1.5M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	9.0929	+2.977%	$37K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	9.0860	+2.899%	$22K	$792K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	9.1003	+3.061%	$732K	$4.7M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	9.0870	+2.911%	$27.5M	$4.4M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	9.0866	+2.906%	$26K	—	20x	as long as short
Extended UNI-USD	+0.0104%	1h	9.0965	+3.018%	$293K	$1.6M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	9.0929	+2.978%	$32K	—	3x	as long as short
01 Exchange UNIUSD	+0.0112%	1h	9.1042	+3.105%	$454	$5	10x	as long as short
Hyperliquid UNI	+0.0191%	1h	9.0941	+2.991%	$98.5M	$62.5M	10x	as long as short
dYdX UNI-USD	+0.0192%	1h	9.0853	+2.891%	$239K	$30K	10x	as long as short
Lighter UNI	+0.0208%	1h	9.0972	+3.026%	$4.6M	$5.8M	15x	as long as short
BloFin UNI-USDT	+0.0220%	8h	9.0980	+3.035%	$10.3M	$3.6M	75x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0248%	1h	9.0974	+3.029%	$583K	$208K	50x	as long as short
Coinbase International UNI-PERP-INTX	+0.0248%	1h	9.0930	+2.978%	$953K	$5.9M	50x	as long as short
Kraken Futures PF_UNIUSD	+0.0269%	1h	9.0932	+2.981%	$5.0M	$8.0M	50x	as long as short
Reya UNIRUSDPERP	+0.0373%	1h	9.0877	+2.919%	$17K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0244%	1h	9.0916	+2.962%	$647K	—	120x	as long as short
Aftermath Perps UNIUSD	+0.0905%	1h	9.0821	+2.855%	$923	$46K	10x	as long as short