Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0323%/8h= −35.4% APRpaid last 24h −0.032%

Price spread now: Orderly against Kraken Futures−0.043%7-day average −0.061% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Kraken Futures Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days−0.131%−$13 on $10k

Price spread, last 3 days (all we have)−0.022%−$2 · spread now −0.043%, 7d avg −0.061%

Together, before fees−0.153%−$15 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.061%, so right now this pair is about funding alone: −$10 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.131% in total (about -6.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_UNIUSD	9.0669	0.0423	pay 0.0053% / 1h	25m 28s	$5.0M	$6.9M	50x
Short	Orderly PERP_UNI_USDC	9.0630	0.0100	get 0.0100% / 8h	6h 25m	$16K	$1.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.043%Rate

Funding earned: −$67.82
Price spread: −0.043% → −0.061%: $1.81
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$82
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Kraken Futures: live order book, 3 min ago; Orderly: no order-book sample. Net counts fees only.

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	3.87 bp	15.0 bp −$15	15.5 bp −$155	41.6 bp −$4,165	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

UNI on 39 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 −0.0004%	1h	9.0618	−0.056%	$19K	—	150x	as long as short
dYdX UNI-USD	+0.0019%	1h	9.0713	+0.048%	$239K	$30K	10x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−2.613%	$660	$154K	12x	as long as short
01 Exchange UNIUSD	+0.0040%	1h	9.0882	+0.235%	$454	—	10x	as long as short
Nado UNI-PERP	+0.0100%	1h	9.0790	+0.134%	$950K	$4.3M	10x	as long as short
Hyperliquid UNI	+0.0100%	1h	9.0965	+0.327%	$98.8M	$60.4M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	9.0816	+0.163%	$1.0M	$2.9M	50x	as long as short
Pacifica UNI	+0.0100%	1h	9.0739	+0.078%	$297K	$574K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	9.0862	+0.214%	$226.9M	$610.6M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	9.0820	+0.167%	$101.7M	$107.4M	75x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX UNI-USDT-SWAP	+0.0100%	8h	9.0840	+0.189%	$56.2M	$254.4M	50x	as long as short
Arcus UNI-USD	+0.0100%	1h	9.0920	+0.277%	$288K	$641K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	9.0800	+0.145%	$23.2M	$58.7M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	9.0890	+0.244%	$49.9M	$26.2M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	9.0890	+0.244%	$13.5M	$13.7M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	9.0860	+0.211%	$33.3M	$42.8M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	9.0800	+0.145%	—	$6.5M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	9.0751	+0.091%	$996K	$2.4M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	9.0580	−0.098%	$4.1M	$4.3M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	9.0454	−0.237%	$170K	$343K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	9.0456	−0.234%	$629K	$2.6M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	9.0420	−0.274%	$88K	$699K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	9.0550	−0.131%	$56K	$3.3M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	9.0896	+0.251%	$86K	$410K	10x	as long as short
Orderly PERP_UNI_USDCshort	+0.0100%	8h	9.0630	−0.043%	$16K	$1.7M	10x
SunX UNI-USDT	+0.0100%	8h	9.0694	+0.028%	$37K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	9.0650	−0.021%	$22K	$712K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	9.0760	+0.101%	$721K	$4.2M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	9.0610	−0.065%	$27.4M	$4.5M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	9.0772	+0.114%	$26K	—	20x	as long as short
Extended UNI-USD	+0.0104%	1h	9.0775	+0.117%	$303K	$1.5M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	9.0646	−0.025%	$32K	—	3x	as long as short
Coinbase International UNI-PERP-INTX	+0.0312%	1h	9.0710	+0.045%	$1.1M	$4.7M	50x	as long as short
Reya UNIRUSDPERP	+0.0368%	1h	9.0828	+0.175%	$17K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0244%	1h	9.0620	−0.054%	$645K	—	120x	as long as short
Kraken Futures PF_UNIUSDlong	+0.0423%	1h	9.0669	long leg	$5.0M	$6.9M	50x
Deribit UNI_USDC-PERPETUAL	+0.0434%	1h	9.0707	+0.042%	$589K	$187K	50x	as long as short
Lighter UNI	+0.0448%	1h	9.0888	+0.242%	$4.7M	$5.3M	15x	as long as short
Aftermath Perps UNIUSD	+0.0945%	1h	9.0446	−0.246%	$902	$48K	10x	as long as short