Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0117%/8h= +12.8% APRpaid last 24h −0.068%

Price spread now: Bybit against Kraken Futures+0.009%7-day average −0.118% · you sell dearer than you buy

Net, funding: paid 7d − costs−$71as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$460.458% of the position

Long on Kraken Futures Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.257%−$26 on $10k

Price spread, last 4 days (all we have)−0.354%−$35 · spread now +0.009%, 7d avg −0.118%

Together, before fees−0.611%−$61 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Bybit is 0.127% dearer against Kraken Futures than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of −0.118%. Mind the row above: over the last 7 days funding on this pair cost −0.257%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_UNIUSD	8.8462	−0.0017	get 0.0002% / 1h	22m 50s	$4.7M	$8.6M	50x
Short	Bybit UNIUSDT	8.8470	0.0100	get 0.0100% / 8h	2h 22m	$99.0M	$112.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.009%Rate

Funding earned: $24.56
Price spread: +0.009% → −0.118%: $12.71
Slippage, 4 orders: −$24.77
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$8.5
Costs to cover: 0.458%
Break-even: 9.4 days

Slippage from Kraken Futures: live order book, 1 min ago; Bybit: live order book, 1 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, 1 min ago	3.39 bp	13.6 bp −$14	14.0 bp −$140	48.3 bp −$4,831	doesn't fit
Sell Bybit live order book, 1 min ago	0.57 bp	9.6 bp −$10	18.3 bp −$183	41.5 bp −$4,148	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
Nado UNI-PERP	−0.0071%	1h	8.8320	−0.161%	$817K	$4.7M	10x	as long as short
01 Exchange UNIUSD	−0.0024%	1h	8.8401	−0.069%	$441	$5	10x	as long as short
Kraken Futures PF_UNIUSDlong	−0.0017%	1h	8.8462	long leg	$4.7M	$8.6M	50x
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0007%	1h	8.8429	−0.037%	$48K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−0.183%	$660	$153K	12x	as long as short
Polymarket Perps UNI-USD	+0.0093%	1h	8.8378	−0.095%	$103K	$525K	10x	as long as short
Lighter UNI	+0.0096%	1h	8.8609	+0.166%	$4.5M	$5.6M	15x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.8425	−0.041%	$25K	—	20x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.8513	+0.058%	$736K	$3.6M	50x	as long as short
Pacifica UNI	+0.0100%	1h	8.8476	+0.016%	$284K	$616K	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	8.8527	+0.074%	$216.2M	$663.2M	75x	as long as short
Bybit UNIUSDTshort	+0.0100%	8h	8.8470	+0.009%	$99.0M	$112.8M	75x
OKX UNI-USDT-SWAP	+0.0100%	8h	8.8520	+0.065%	$54.2M	$264.0M	50x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.8450	−0.014%	$315K	$700K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.8550	+0.099%	$24.1M	$65.9M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.8550	+0.099%	$49.1M	$27.0M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.8570	+0.122%	$12.9M	$13.6M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.8450	−0.014%	$32.4M	$46.7M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	8.8550	+0.099%	—	$6.5M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	8.8558	+0.108%	$1.1M	$2.4M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	8.8380	−0.092%	$4.1M	$4.2M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.8556	+0.106%	$167K	$344K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.8450	−0.014%	$621K	$2.8M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.8600	+0.156%	$89K	$707K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.8630	+0.190%	$15K	$3.5M	20x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.8450	−0.014%	$16K	$1.6M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.8525	+0.071%	$36K	$1.4M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.8452	−0.011%	$32K	$874K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.8467	+0.006%	$711K	$5.0M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.8500	+0.043%	$26.7M	$4.5M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	8.8531	+0.078%	$298K	$1.7M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.8446	−0.018%	$31K	—	3x	as long as short
Hyperliquid UNI	+0.0123%	1h	8.8595	+0.150%	$94.2M	$65.9M	10x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0136%	1h	8.8474	+0.013%	$566K	$204K	50x	as long as short
dYdX UNI-USD	+0.0180%	1h	8.8512	+0.057%	$233K	$31K	10x	as long as short
Coinbase International UNI-PERP-INTX	+0.0184%	1h	8.8410	−0.059%	$922K	$5.8M	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.8400	−0.070%	$10.0M	$3.6M	75x	as long as short
Reya UNIRUSDPERP	+0.0377%	1h	8.8377	−0.096%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0244%	1h	8.8430	−0.037%	$629K	—	120x	as long as short
Aftermath Perps UNIUSD	+0.0669%	1h	8.8598	+0.153%	$968	$45K	10x	as long as short