UNI

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0214%/8h= +23.4% APRnext payment +$0.27 per $10,000 · paid last 24h +0.141%

Price spread now: Lighter against Kraken Futures+0.046%7-day average +0.102% · you sell dearer than you buy

Net, funding: paid 7d − costs−$20as in the Funding arb table

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

costs, in and out, $10k−$350.351% of the position

Long on Kraken Futures Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.154%+$15 on $10k

Price spread, last 4 days (all we have)−0.569%−$57 · spread now +0.046%, 7d avg +0.102%

Together, before fees−0.415%+ Points / potential airdropLighter: Season 3 · farm board−$41 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.057% cheaper against Kraken Futures than usual: you would sell low and buy high (spread +0.046% now, against its 7-day average of +0.102%). If the spread goes back, that is −$6 on $10k: about 21 hours of funding at the current rate (+$6 a day). At the pace of the last 7 days (+0.154% in total) that is about 2.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_UNIUSD	8.9451	−0.0062	get 0.0008% / 1h	50m 24s	$4.7M	$8.6M	50x
Short	Lighter UNI	8.9492	0.0152	get 0.0019% / 1h	50m 24s	$4.5M	$5.4M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.046%Rate

Funding earned: $44.87
Price spread: +0.046% → +0.102%: −$5.67
Slippage, 4 orders: −$25.07
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: $4.13
Costs to cover: 0.351%
Break-even: 6.4 days

Slippage from Kraken Futures: live order book, 4 min ago; Lighter: live order book, 8 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	1.68 bp	18.8 bp −$19	22.7 bp −$227	46.6 bp −$4,662	doesn't fit
Sell Lighter live order book, 8 min ago	2.06 bp	3.5 bp −$4	12.9 bp −$129	118.2 bp −$11.8K	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
Kraken Futures PF_UNIUSDlong	−0.0062%	1h	8.9451	long leg	$4.7M	$8.6M	50x
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0005%	1h	8.9350	−0.113%	$77K	—	150x	as long as short
Phemex UNIUSDT	+0.0021%	8h	8.9330	−0.135%	$27.0M	$4.4M	50x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−1.287%	$660	$153K	12x	as long as short
Nado UNI-PERP	+0.0093%	1h	8.9340	−0.124%	$729K	$4.7M	10x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.9322	−0.145%	$25K	—	20x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.9279	−0.192%	$726K	$3.2M	50x	as long as short
Pacifica UNI	+0.0100%	1h	8.9388	−0.071%	$289K	$567K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	8.9218	−0.261%	$217.1M	$652.6M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	8.9190	−0.292%	$99.0M	$110.7M	75x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX UNI-USDT-SWAP	+0.0100%	8h	8.9190	−0.292%	$54.5M	$262.7M	50x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.9430	−0.024%	$324K	$701K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.9230	−0.247%	$26.6M	$62.5M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.9260	−0.214%	$48.0M	$25.3M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.9360	−0.102%	$13.0M	$13.3M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.9220	−0.258%	$33.0M	$46.1M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	8.9220	−0.258%	—	$6.5M	—	as long as short
Variational Omni UNI	+0.0100%	8h	8.9300	−0.169%	$4.1M	$4.0M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.9122	−0.368%	$168K	$346K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.9123	−0.367%	$630K	$2.6M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.9160	−0.325%	$90K	$710K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.9350	−0.113%	$14K	$3.5M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.9360	−0.102%	$105K	$616K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.9230	−0.247%	$17K	$2.3M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.9371	−0.089%	$36K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.9363	−0.098%	$32K	$894K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.9500	+0.055%	$709K	$4.7M	75x	as long as short
Hyperliquid UNI	+0.0102%	1h	8.9412	−0.044%	$95.4M	$67.6M	10x	as long as short
Extended UNI-USD	+0.0104%	1h	8.9313	−0.155%	$301K	$1.8M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.9210	−0.269%	$32K	—	3x	as long as short
01 Exchange UNIUSD	+0.0144%	1h	8.9400	−0.057%	$446	$5	10x	as long as short
Lighter UNIshort	+0.0152%	1h	8.9492	+0.046%	$4.5M	$5.4M	15x
Deribit UNI_USDC-PERPETUAL	+0.0203%	1h	8.9426	−0.028%	$592K	$273K	50x	as long as short
dYdX UNI-USD	+0.0205%	1h	8.9385	−0.074%	$235K	$30K	10x	as long as short
Coinbase International UNI-PERP-INTX	+0.0208%	1h	8.9480	+0.032%	$931K	$5.5M	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.9310	−0.158%	$10.1M	$3.6M	75x	as long as short
Backpack UNI_USDC_PERP	+0.0262%	1h	8.9450	−0.001%	$1.1M	$2.5M	10x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0243%	1h	8.9347	−0.116%	$636K	—	120x	as long as short
Reya UNIRUSDPERP	+0.0382%	1h	8.9208	−0.272%	$16K	—	20x	as long as short
Aftermath Perps UNIUSD	+0.0398%	1h	8.9265	−0.208%	$1K	$52K	10x	as long as short