Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0174%/8h= −19.1% APRpaid last 24h −0.043%

Price spread now: BingX against Kraken Futures−0.114%7-day average −0.084% · you buy dearer than you sell

Net, funding: paid 7d − costs−$65as in the Funding arb table

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$380.382% of the position

Long on Kraken Futures Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.264%−$26 on $10k

Price spread, last 4 days (all we have)−0.377%−$38 · spread now −0.114%, 7d avg −0.084%

Together, before fees−0.640%−$64 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and BingX is 0.030% cheaper against Kraken Futures than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.084%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_UNIUSD	8.8691	0.0274	pay 0.0034% / 1h	9m 32s	$4.8M	$8.2M	50x
Short	BingX UNI-USDT	8.8590	0.0100	get 0.0100% / 8h	3h 09m	—	$56.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.114%Rate

Funding earned: −$36.61
Price spread: −0.114% → −0.084%: −$3
Slippage, 4 orders: −$18.16
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$77.77
Costs to cover: 0.382%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 4 min ago; BingX: live order book, 14 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, 4 min ago	3.94 bp	13.0 bp −$13	19.4 bp −$194	48.3 bp −$4,827	doesn't fit
Sell BingX live order book, 14 min ago	1.68 bp	6.7 bp −$7	8.8 bp −$88	18.5 bp −$1,854	48.1 bp −$24.1K

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
01 Exchange UNIUSD	−0.0008%	1h	8.8559	−0.149%	$442	$5	10x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0007%	1h	8.8630	−0.069%	$48K	—	150x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0014%	1h	8.8659	−0.037%	$568K	$208K	50x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−0.441%	$660	$154K	12x	as long as short
Lighter UNI	+0.0096%	1h	8.8799	+0.121%	$4.5M	$5.9M	15x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.8663	−0.032%	$25K	—	20x	as long as short
Nado UNI-PERP	+0.0100%	1h	8.8510	−0.204%	$859K	$4.5M	10x	as long as short
Hyperliquid UNI	+0.0100%	1h	8.8746	+0.062%	$94.0M	$65.0M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.8620	−0.080%	$773K	$3.6M	50x	as long as short
Pacifica UNI	+0.0100%	1h	8.8663	−0.032%	$286K	$611K	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	8.8553	−0.156%	$216.4M	$651.3M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	8.8510	−0.204%	$99.1M	$111.8M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	8.8530	−0.182%	$53.8M	$260.1M	50x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.8660	−0.035%	$317K	$666K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.8590	−0.114%	$23.3M	$65.2M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.8650	−0.047%	$47.1M	$26.3M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.8650	−0.047%	$13.1M	$13.3M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.8570	−0.137%	$32.6M	$46.1M	75x	as long as short
BingX UNI-USDTshort	+0.0100%	8h	8.8590	−0.114%	—	$56.8M	—
Backpack UNI_USDC_PERP	+0.0100%	1h	8.8684	−0.008%	$1.0M	$2.3M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	8.8419	−0.307%	$4.1M	$4.2M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.8810	+0.134%	$168K	$344K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.8650	−0.047%	$616K	$2.8M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.8820	+0.145%	$91K	$701K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.8660	−0.035%	$15K	$3.4M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.8672	−0.022%	$84K	$458K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.8600	−0.103%	$16K	$1.5M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.8682	−0.011%	$36K	$1.4M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.8624	−0.076%	$31K	$816K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.8683	−0.009%	$700K	$4.9M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.8690	−0.002%	$26.8M	$4.4M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	8.8532	−0.180%	$284K	$1.6M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.8630	−0.069%	$31K	—	3x	as long as short
Coinbase International UNI-PERP-INTX	+0.0216%	1h	8.8650	−0.047%	$918K	$5.8M	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.8560	−0.148%	$10.1M	$3.6M	75x	as long as short
dYdX UNI-USD	+0.0235%	1h	8.8665	−0.030%	$233K	$30K	10x	as long as short
Kraken Futures PF_UNIUSDlong	+0.0274%	1h	8.8691	long leg	$4.8M	$8.2M	50x
Reya UNIRUSDPERP	+0.0375%	1h	8.8625	−0.074%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0244%	1h	8.8635	−0.063%	$631K	—	120x	as long as short
Aftermath Perps UNIUSD	+0.0726%	1h	8.8942	+0.283%	$892	$45K	10x	as long as short