UNI

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0170%/8h= −18.6% APRnext payment −$0.21 per $10,000 · paid last 24h −0.017%

Price spread now: Backpack against Kraken Futures+0.033%7-day average −0.016% · you sell dearer than you buy

Net, funding: paid 7d − costs−$53as in the Funding arb table

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$410.406% of the position

Long on Kraken Futures Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.122%−$12 on $10k

Price spread, last 3 days (all we have)−0.790%−$79 · spread now +0.033%, 7d avg −0.016%

Together, before fees−0.912%−$91 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Backpack is 0.049% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.033% now, against its 7-day average of −0.016%): +$5 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 23 hours. At the pace of the last 7 days (−0.122% in total) that is about 2.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_UNIUSD	8.8058	0.0270	pay 0.0034% / 1h	50m 54s	$4.9M	$7.1M	50x
Short	Backpack UNI_USDC_PERP	8.8087	0.0100	get 0.0013% / 1h	50m 54s	$975K	$2.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Kraken Futures. 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 Kraken FuturesbpFee BackpackbpOrdersPrice spread, now +0.033%Rate

Funding earned: −$35.74
Price spread: +0.033% → −0.016%: $4.89
Slippage, 4 orders: −$20.61
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$71.46
Costs to cover: 0.406%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 3 min ago; Backpack: live order book, 3 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 Kraken Futures live order book, 3 min ago	3.40 bp	13.7 bp −$14	15.0 bp −$150	40.9 bp −$4,091	doesn't fit
Sell Backpack live order book, 3 min ago	0.68 bp	7.0 bp −$7	144.2 bp −$1,442	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	−0.0201%	8h	8.8015	−0.049%	$3.9M	$4.9M	—	as long as short
Bybit UNIUSDT	−0.0193%	8h	8.8090	+0.037%	$102.6M	$103.9M	75x	as long as short
01 Exchange UNIUSD	−0.0064%	1h	8.8043	−0.017%	$439	—	10x	as long as short
Deribit UNI_USDC-PERPETUAL	0.0000%	1h	8.8074	+0.019%	$550K	$125K	50x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0006%	1h	8.8067	+0.010%	$79K	—	150x	as long as short
OKX UNI-USDT-SWAP	+0.0008%	8h	8.8090	+0.037%	$54.3M	$244.6M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.8051	−0.007%	$25K	—	20x	as long as short
Nado UNI-PERP	+0.0100%	1h	8.8050	−0.009%	$848K	$3.9M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.8130	+0.082%	$1.0M	$3.4M	50x	as long as short
Pacifica UNI	+0.0100%	1h	8.8060	+0.002%	$297K	$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	8.8124	+0.075%	$215.8M	$593.7M	75x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.8120	+0.071%	$272K	$605K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.8110	+0.059%	$22.9M	$58.9M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.8120	+0.071%	$42.7M	$24.4M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.8100	+0.048%	$13.7M	$13.6M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.8100	+0.048%	$31.9M	$41.0M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	8.8110	+0.059%	—	$6.5M	—	as long as short
Backpack UNI_USDC_PERPshort	+0.0100%	1h	8.8087	+0.033%	$975K	$2.4M	10x
edgeX UNIUSDC	+0.0100%	4h	8.8216	+0.179%	$166K	$343K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.8310	+0.286%	$619K	$2.6M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.8260	+0.230%	$83K	$713K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.8170	+0.127%	$105K	$3.3M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.8045	−0.015%	$86K	$331K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.8010	−0.054%	$15K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.8075	+0.019%	$36K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.7990	−0.077%	$28K	$659K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.8240	+0.207%	$721K	$4.3M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.8070	+0.014%	$26.5M	$4.3M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	8.8086	+0.032%	$307K	$1.4M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.8062	+0.005%	$31K	$1K	3x	as long as short
Coinbase International UNI-PERP-INTX	+0.0200%	1h	8.8280	+0.252%	$1.0M	$5.3M	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.8060	+0.002%	$9.8M	$3.3M	75x	as long as short
dYdX UNI-USD	+0.0231%	1h	8.8100	+0.048%	$244K	$5K	10x	as long as short
Kraken Futures PF_UNIUSDlong	+0.0270%	1h	8.8058	long leg	$4.9M	$7.1M	50x
Reya UNIRUSDPERP	+0.0359%	1h	8.7979	−0.089%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0380% / S −0.0320%	1h	8.8050	−0.009%	$552K	—	120x	as long as short
Hyperliquid UNI	+0.0392%	1h	8.8217	+0.181%	$95.8M	$59.6M	10x	as long as short
Lighter UNI	+0.0472%	1h	8.8227	+0.192%	$4.5M	$5.3M	15x	as long as short
Aftermath Perps UNIUSD	+0.0497%	1h	8.8189	+0.149%	$1K	$50K	10x	as long as short
Injective UNI/USDC PERP	+0.2702%	1h	8.7900	−0.179%	$657	$97K	12x	as long as short