Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0161%/8h= −17.7% APRpaid last 24h +0.007%

Price spread now: BloFin against Kraken Futures−0.312%57s7-day average −0.031% · you buy dearer than you sell

Net, funding: paid 7d − costs−$44as 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−$500.501% of the position

Long on Kraken Futures Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.056%+$6 on $10k

Price spread, last 3 days (all we have)+0.191%+$19 · spread now −0.312%, 7d avg −0.031%

Together, before fees+0.247%+$25 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 BloFin is 0.281% cheaper against Kraken Futures than usual: you would sell low and buy high (−$28 if the spread goes back to its 7-day average of −0.031%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.056%, so the current rate has only just turned against you. The two prices were read 57 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	Kraken Futures PF_UNIUSD	9.2068	0.0381	pay 0.0048% / 1h	38m 15s	$5.1M	$7.0M	50x
Short	BloFin UNI-USDT	9.1780	0.0220	get 0.0220% / 8h	7h 38m	$10.2M	$3.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.312%Rate

Funding earned: −$33.9
Price spread: −0.312% → −0.031%: −$28.15
Slippage, 4 orders: −$28.1
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$112.14
Costs to cover: 0.501%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 6 min ago; BloFin: live order book, 6 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, 6 min ago	7.12 bp	12.6 bp −$13	18.5 bp −$185	46.2 bp −$4,617	doesn't fit
Sell BloFin live order book, 6 min ago	1.64 bp	10.8 bp −$11	14.8 bp −$148	36.6 bp −$3,659	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
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0005%	1h	9.2132	+0.070%	$75K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−4.092%	$660	$154K	12x	as long as short
01 Exchange UNIUSD	+0.0072%	1h	9.1925	−0.155%	$459	—	10x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	9.2080	+0.013%	$56.7M	$256.8M	50x	as long as short
Nado UNI-PERP	+0.0100%	1h	9.1970	−0.106%	$972K	$4.2M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	9.2280	+0.231%	$1.1M	$3.4M	50x	as long as short
Pacifica UNI	+0.0100%	1h	9.1828	−0.260%	$308K	$583K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	9.2110	+0.046%	$230.5M	$592.8M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	9.2060	−0.008%	$103.8M	$106.7M	75x	as long as short
Arcus UNI-USD	+0.0100%	1h	9.2090	+0.024%	$274K	$616K	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate UNI_USDT	+0.0100%	8h	9.2150	+0.090%	$23.2M	$58.4M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	9.2080	+0.013%	$44.9M	$23.8M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	9.2010	−0.063%	$13.8M	$13.5M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	9.2120	+0.057%	$33.8M	$42.0M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	9.2120	+0.057%	—	$6.5M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	9.2145	+0.084%	$1.0M	$2.4M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	9.1681	−0.420%	$4.2M	$4.4M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	9.1739	−0.357%	$173K	$343K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	9.1211	−0.931%	$637K	$2.6M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	9.1780	−0.312%	$90K	$708K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	9.2040	−0.030%	$37K	$3.3M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	9.2117	+0.054%	$86K	$375K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	9.2120	+0.057%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	9.2194	+0.137%	$37K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	9.2010	−0.063%	$21K	$702K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	9.2148	+0.087%	$736K	$4.4M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	9.2090	+0.024%	$27.8M	$4.5M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	9.1922	−0.159%	$26K	—	20x	as long as short
Extended UNI-USD	+0.0104%	1h	9.2081	+0.014%	$306K	$1.5M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	9.2097	+0.032%	$33K	—	3x	as long as short
dYdX UNI-USD	+0.0131%	1h	9.1854	−0.232%	$253K	$7K	10x	as long as short
BloFin UNI-USDTshort	+0.0220%	8h	9.1780	−0.312%	$10.2M	$3.6M	75x
Coinbase International UNI-PERP-INTX	+0.0272%	1h	9.2140	+0.079%	$1.1M	$5.6M	50x	as long as short
Reya UNIRUSDPERP	+0.0366%	1h	9.2108	+0.044%	$17K	—	20x	as long as short
Kraken Futures PF_UNIUSDlong	+0.0381%	1h	9.2068	long leg	$5.1M	$7.0M	50x
GMX UNI/USD [UNI-USDC]	L +0.0382% / S −0.0323%	1h	9.2129	+0.067%	$582K	—	120x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0473%	1h	9.2193	+0.137%	$594K	$178K	50x	as long as short
Hyperliquid UNI	+0.0503%	1h	9.2117	+0.054%	$101.3M	$59.7M	10x	as long as short
Lighter UNI	+0.0840%	1h	9.2171	+0.112%	$4.7M	$5.3M	15x	as long as short
Aftermath Perps UNIUSD	+0.0855%	1h	9.1559	−0.552%	$1K	$49K	10x	as long as short