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: KuCoin against Kraken Futures−0.005%52s7-day average −0.063% · you buy dearer than you sell

Net, funding: paid 7d − costs−$83as 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−$600.603% of the position

Long on Kraken Futures Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.226%−$23 on $10k

Price spread, last 4 days (all we have)−0.248%−$25 · spread now −0.005%, 7d avg −0.063%

Together, before fees−0.474%−$47 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 KuCoin is 0.058% dearer against Kraken Futures than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.063%. Mind the row above: over the last 7 days funding on this pair cost −0.226%, so the current rate has only just turned in your favour. The two prices were read 52 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	8.8654	−0.0017	get 0.0002% / 1h	3m 26s	$4.7M	$8.6M	50x
Short	KuCoin UNIUSDTM	8.8650	0.0100	get 0.0100% / 8h	1h 03m	$13.0M	$13.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.005%Rate

Funding earned: $24.58
Price spread: −0.005% → −0.063%: $5.79
Slippage, 4 orders: −$38.3
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$29.92
Costs to cover: 0.603%
Break-even: 15.5 days

Slippage from Kraken Futures: live order book, 6 min ago; KuCoin: live order book, 5 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	2.26 bp	13.1 bp −$13	18.3 bp −$183	46.5 bp −$4,649	doesn't fit
Sell KuCoin live order book, 5 min ago	0.56 bp	13.6 bp −$14	21.3 bp −$213	60.8 bp −$6,077	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	−0.0079%	1h	8.8610	−0.050%	$106K	$619K	10x	as long as short
01 Exchange UNIUSD	−0.0024%	1h	8.8637	−0.019%	$442	$5	10x	as long as short
Kraken Futures PF_UNIUSDlong	−0.0017%	1h	8.8654	long leg	$4.7M	$8.6M	50x
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0007%	1h	8.8634	−0.023%	$49K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−0.400%	$660	$153K	12x	as long as short
Nado UNI-PERP	+0.0036%	1h	8.8643	−0.013%	$736K	$4.7M	10x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0058%	1h	8.8661	+0.008%	$584K	$250K	50x	as long as short
Lighter UNI	+0.0096%	1h	8.8758	+0.117%	$4.5M	$5.7M	15x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.8616	−0.043%	$25K	—	20x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.8627	−0.031%	$726K	$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	8.8665	+0.012%	$284K	$590K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	8.8557	−0.110%	$213.9M	$657.2M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	8.8560	−0.106%	$98.0M	$111.4M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	8.8570	−0.095%	$53.9M	$263.8M	50x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.8700	+0.052%	$316K	$695K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.8580	−0.084%	$25.1M	$66.9M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.8570	−0.095%	$48.4M	$26.7M	200x	as long as short
KuCoin UNIUSDTMshort	+0.0100%	8h	8.8650	−0.005%	$13.0M	$13.4M	75x
Bitget UNIUSDT	+0.0100%	8h	8.8540	−0.129%	$32.4M	$45.4M	75x	as long as short
BingX UNI-USDT	+0.0100%	8h	8.8550	−0.118%	—	$57.1M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	8.8655	+0.001%	$1.1M	$2.4M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	8.8829	+0.198%	$4.1M	$4.3M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.8745	+0.102%	$168K	$346K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.8670	+0.018%	$620K	$2.7M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.8750	+0.108%	$89K	$709K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.8660	+0.007%	$15K	$3.4M	20x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.8540	−0.129%	$16K	$2.0M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.8624	−0.034%	$36K	$1.4M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.8600	−0.061%	$32K	$887K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.8687	+0.037%	$694K	$4.8M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.8620	−0.039%	$26.7M	$4.5M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	8.8587	−0.076%	$289K	$1.7M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.8590	−0.072%	$31K	—	3x	as long as short
Hyperliquid UNI	+0.0157%	1h	8.8710	+0.063%	$94.4M	$67.6M	10x	as long as short
Coinbase International UNI-PERP-INTX	+0.0192%	1h	8.8670	+0.018%	$924K	$5.4M	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.8760	+0.119%	$10.0M	$3.6M	75x	as long as short
dYdX UNI-USD	+0.0375%	1h	8.8632	−0.025%	$233K	$30K	10x	as long as short
Reya UNIRUSDPERP	+0.0379%	1h	8.8557	−0.109%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0243%	1h	8.8578	−0.085%	$630K	—	120x	as long as short
Aftermath Perps UNIUSD	+0.0516%	1h	8.8784	+0.146%	$988	$53K	10x	as long as short