Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0117%/8h= +12.8% APRpaid last 24h −0.042%

Price spread now: edgeX against Kraken Futures−0.180%76s7-day average −0.048% · you buy dearer than you sell

Net, funding: paid 7d − costs−$56as 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−$400.402% of the position

Long on Kraken Futures Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.158%−$16 on $10k

Price spread, last 4 days (all we have)−0.178%−$18 · spread now −0.180%, 7d avg −0.048%

Together, before fees−0.336%+ Points / potential airdropedgeX: Active · farm board−$34 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.132% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.180% now, against its 7-day average of −0.048%). If the spread goes back, that is −$13 on $10k: about 3.8 days of funding at the current rate (+$4 a day). Mind the row above: over the last 7 days funding on this pair cost −0.158%, so the current rate has only just turned in your favour. The two prices were read 76 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	8.8843	−0.0017	get 0.0002% / 1h	6m 15s	$4.7M	$8.6M	50x
Short	edgeX UNIUSDC	8.8683	0.0100	get 0.0050% / 4h	1h 06m	$168K	$345K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.180%Rate

Funding earned: $24.57
Price spread: −0.180% → −0.048%: −$13.23
Slippage, 4 orders: −$21.23
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$28.89
Costs to cover: 0.402%
Break-even: 15.2 days

Slippage from Kraken Futures: live order book, 3 min ago; edgeX: live order book, 37 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	2.26 bp	13.1 bp −$13	18.3 bp −$183	46.5 bp −$4,649	doesn't fit
Sell edgeX live order book, 37 min ago	2.24 bp	6.7 bp −$7	16.0 bp −$160	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
Polymarket Perps UNI-USD	−0.0082%	1h	8.8895	+0.059%	$106K	$618K	10x	as long as short
01 Exchange UNIUSD	−0.0024%	1h	8.8903	+0.068%	$444	$5	10x	as long as short
Kraken Futures PF_UNIUSDlong	−0.0017%	1h	8.8843	long leg	$4.7M	$8.6M	50x
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0007%	1h	8.8895	+0.059%	$49K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−0.611%	$660	$153K	12x	as long as short
Nado UNI-PERP	+0.0038%	1h	8.8818	−0.028%	$738K	$4.7M	10x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0055%	1h	8.8931	+0.100%	$586K	$250K	50x	as long as short
Lighter UNI	+0.0096%	1h	8.8937	+0.106%	$4.5M	$5.7M	15x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.8867	+0.028%	$25K	—	20x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.8932	+0.100%	$729K	$3.6M	50x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica UNI	+0.0100%	1h	8.8910	+0.076%	$284K	$590K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	8.8866	+0.026%	$214.6M	$657.1M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	8.8860	+0.020%	$98.4M	$111.4M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	8.8800	−0.048%	$54.1M	$264.4M	50x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.8970	+0.143%	$317K	$695K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.8870	+0.031%	$25.2M	$66.9M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.8900	+0.065%	$48.6M	$26.6M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.8920	+0.087%	$13.0M	$13.4M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.8800	−0.048%	$32.5M	$45.3M	75x	as long as short
BingX UNI-USDT	+0.0100%	8h	8.8870	+0.031%	—	$57.1M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	8.8900	+0.065%	$1.1M	$2.4M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	8.8779	−0.072%	$4.1M	$4.3M	—	as long as short
edgeX UNIUSDCshort	+0.0100%	4h	8.8683	−0.180%	$168K	$345K	20x
GRVT UNI_USDT_Perp	+0.0100%	8h	8.8665	−0.200%	$620K	$2.7M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.8740	−0.116%	$89K	$709K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.8800	−0.048%	$15K	$3.4M	20x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.8850	+0.008%	$16K	$2.0M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.8906	+0.071%	$36K	$1.4M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.8802	−0.046%	$32K	$887K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.8906	+0.071%	$696K	$4.8M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.8840	−0.003%	$26.8M	$4.5M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	8.8765	−0.087%	$292K	$1.7M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.8805	−0.042%	$32K	—	3x	as long as short
Hyperliquid UNI	+0.0159%	1h	8.9035	+0.217%	$94.7M	$67.5M	10x	as long as short
Coinbase International UNI-PERP-INTX	+0.0192%	1h	8.9020	+0.200%	$927K	$5.5M	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.8840	−0.003%	$10.0M	$3.6M	75x	as long as short
dYdX UNI-USD	+0.0363%	1h	8.8919	+0.086%	$234K	$30K	10x	as long as short
Reya UNIRUSDPERP	+0.0379%	1h	8.8882	+0.045%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0243%	1h	8.8868	+0.029%	$631K	—	120x	as long as short
Aftermath Perps UNIUSD	+0.0506%	1h	8.8911	+0.077%	$989	$53K	10x	as long as short