Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0242%/8h= −26.5% APRpaid last 24h −0.021%

Price spread now: SunX against Kraken Futures−0.023%7-day average +0.005% · you buy dearer than you sell

Net, funding: paid 7d − costs−$122as in the Funding arb table

Net, price: spread back to 7d avg − costs−$114as in the Price arb table

costs, in and out, $10k−$1111.108% of the position

Long on Kraken Futures Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.109%−$11 on $10k

Price spread, last 3 days (all we have)+0.033%+$3 · spread now −0.023%, 7d avg +0.005%

Together, before fees−0.076%−$8 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and SunX is 0.028% cheaper against Kraken Futures than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.005%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.109% in total (about -5.7% 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	8.8429	0.0342	pay 0.0043% / 1h	28m 47s	$4.9M	$7.0M	50x
Short	SunX UNI-USDT	8.8409	0.0100	get 0.0100% / 8h	1h 28m	$36K	$1.3M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.023%Rate

Funding earned: −$50.89
Price spread: −0.023% → +0.005%: −$2.79
Slippage, 4 orders: −$92.82
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$164.49
Costs to cover: 1.108%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 5 min ago; SunX: 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, 5 min ago	2.26 bp	14.5 bp −$15	17.9 bp −$179	44.4 bp −$4,442	doesn't fit
Sell SunX live order book, 5 min ago	30.76 bp	50.5 bp −$51	doesn't fit	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
Variational Omni UNI	−0.0066%	8h	8.8274	−0.176%	$3.9M	$4.5M	—	as long as short
Bybit UNIUSDT	−0.0008%	8h	8.8340	−0.101%	$100.7M	$104.4M	75x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0004%	1h	8.8394	−0.040%	$61K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−0.146%	$660	$155K	12x	as long as short
OKX UNI-USDT-SWAP	+0.0044%	8h	8.8360	−0.078%	$54.8M	$243.7M	50x	as long as short
01 Exchange UNIUSD	+0.0048%	1h	8.8365	−0.073%	$441	—	10x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.8353	−0.086%	$25K	—	20x	as long as short
Nado UNI-PERP	+0.0100%	1h	8.8300	−0.146%	$936K	$4.0M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.8490	+0.069%	$1.0M	$3.4M	50x	as long as short
Pacifica UNI	+0.0100%	1h	8.8400	−0.033%	$296K	$570K	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	8.8423	−0.007%	$217.0M	$588.2M	75x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.8420	−0.011%	$282K	$615K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.8430	+0.001%	$23.0M	$58.5M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.8400	−0.033%	$42.8M	$24.5M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.8400	−0.033%	$13.5M	$13.8M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.8370	−0.067%	$32.1M	$41.3M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	8.8420	−0.011%	—	$6.5M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	8.8444	+0.017%	$982K	$2.3M	10x	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.8322	−0.121%	$166K	$344K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.8297	−0.149%	$612K	$2.5M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.8330	−0.112%	$87K	$713K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.8330	−0.112%	$105K	$3.3M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.8351	−0.089%	$86K	$352K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.8340	−0.101%	$16K	$1.7M	10x	as long as short
SunX UNI-USDTshort	+0.0100%	8h	8.8409	−0.023%	$36K	$1.3M	30x
SoDEX UNI-USD	+0.0100%	1h	8.8360	−0.078%	$25K	$666K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.8573	+0.162%	$725K	$4.3M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.8370	−0.067%	$26.6M	$4.5M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	8.8389	−0.045%	$300K	$1.4M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.8399	−0.034%	$31K	$1K	3x	as long as short
dYdX UNI-USD	+0.0152%	1h	8.8442	+0.014%	$245K	$6K	10x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0205%	1h	8.8428	−0.002%	$562K	$157K	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.8320	−0.124%	$9.8M	$3.3M	75x	as long as short
Coinbase International UNI-PERP-INTX	+0.0224%	1h	8.8400	−0.033%	$1.0M	$5.3M	50x	as long as short
Hyperliquid UNI	+0.0302%	1h	8.8557	+0.144%	$96.9M	$59.2M	10x	as long as short
Kraken Futures PF_UNIUSDlong	+0.0342%	1h	8.8429	long leg	$4.9M	$7.0M	50x
Reya UNIRUSDPERP	+0.0362%	1h	8.8306	−0.140%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0379% / S −0.0319%	1h	8.8376	−0.060%	$553K	—	120x	as long as short
Lighter UNI	+0.0600%	1h	8.8536	+0.121%	$4.5M	$5.2M	15x	as long as short
Aftermath Perps UNIUSD	+0.0629%	1h	8.8364	−0.074%	$1K	$49K	10x	as long as short