Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0281%/8h= −30.8% APRpaid last 24h −0.056%

Price spread now: Variational Omni against Kraken Futures−0.511%7-day average −0.087% · you buy dearer than you sell

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

Long on Kraken Futures Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.233%−$23 on $10k

Price spread, last 3 days (all we have)−0.009%−$1 · spread now −0.511%, 7d avg −0.087%

Together, before fees−0.242%+ Points / potential airdropVariational Omni: Active · farm board−$24 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Variational Omni is 0.424% cheaper against Kraken Futures than usual: you would sell low and buy high (−$42 if the spread goes back to its 7-day average of −0.087%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_UNIUSD	9.2151	0.0381	pay 0.0048% / 1h	39m 25s	$5.1M	$7.0M	50x
Short	Variational Omni UNI	9.1681	0.0100	get 0.0100% / 8h	7h 39m	$4.2M	$4.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.511%Rate

Funding earned: −$59.02
Price spread: −0.511% → −0.087%: −$42.37
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$111.4
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Kraken Futures: live order book, 5 min ago; Variational Omni: RFQ quote, 5 min ago. 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, 5 min ago	7.12 bp	12.6 bp −$13	18.5 bp −$185	46.2 bp −$4,617	doesn't fit
Sell Variational Omni RFQ quote, 5 min ago	3.25 bp	doesn't fit	12.6 bp −$126	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
Phemex UNIUSDT	−0.0065%	8h	9.2000	−0.164%	$27.8M	$4.5M	50x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0005%	1h	9.2003	−0.162%	$75K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−4.179%	$660	$154K	12x	as long as short
01 Exchange UNIUSD	+0.0064%	1h	9.2085	−0.072%	$460	—	10x	as long as short
OKX UNI-USDT-SWAP	+0.0097%	8h	9.2030	−0.132%	$56.6M	$256.2M	50x	as long as short
Nado UNI-PERP	+0.0100%	1h	9.1943	−0.227%	$972K	$4.2M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	9.2137	−0.016%	$1.1M	$3.4M	50x	as long as short
Pacifica UNI	+0.0100%	1h	9.2050	−0.110%	$309K	$583K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	9.2057	−0.103%	$230.4M	$591.4M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	9.2000	−0.164%	$103.6M	$106.4M	75x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus UNI-USD	+0.0100%	1h	9.2140	−0.012%	$274K	$616K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	9.2000	−0.164%	$23.2M	$58.3M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	9.2030	−0.132%	$45.0M	$23.7M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	9.2050	−0.110%	$13.8M	$13.5M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	9.2010	−0.153%	$33.7M	$41.9M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	9.2000	−0.164%	—	$6.5M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	9.2108	−0.047%	$1.0M	$2.4M	10x	as long as short
Variational Omni UNIshort	+0.0100%	8h	9.1681	−0.511%	$4.2M	$4.4M	—
edgeX UNIUSDC	+0.0100%	4h	9.1739	−0.448%	$173K	$343K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	9.1211	−1.021%	$637K	$2.6M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	9.1780	−0.403%	$90K	$708K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	9.1770	−0.414%	$37K	$3.3M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	9.2062	−0.097%	$86K	$375K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	9.2090	−0.067%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	9.2156	+0.005%	$37K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	9.2093	−0.063%	$22K	$702K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	9.2159	+0.008%	$737K	$4.4M	75x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	9.1985	−0.180%	$26K	—	20x	as long as short
Extended UNI-USD	+0.0104%	1h	9.1961	−0.206%	$306K	$1.5M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	9.2095	−0.061%	$33K	—	3x	as long as short
dYdX UNI-USD	+0.0137%	1h	9.2015	−0.148%	$254K	$7K	10x	as long as short
BloFin UNI-USDT	+0.0220%	8h	9.1850	−0.327%	$10.1M	$3.6M	75x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0239%	1h	9.2134	−0.019%	$594K	$178K	50x	as long as short
Coinbase International UNI-PERP-INTX	+0.0272%	1h	9.2150	−0.002%	$1.1M	$5.6M	50x	as long as short
Reya UNIRUSDPERP	+0.0366%	1h	9.1993	−0.172%	$17K	—	20x	as long as short
Kraken Futures PF_UNIUSDlong	+0.0381%	1h	9.2151	long leg	$5.1M	$7.0M	50x
GMX UNI/USD [UNI-USDC]	L +0.0382% / S −0.0323%	1h	9.2001	−0.163%	$583K	—	120x	as long as short
Hyperliquid UNI	+0.0479%	1h	9.2183	+0.034%	$101.4M	$59.7M	10x	as long as short
Lighter UNI	+0.0840%	1h	9.2217	+0.071%	$4.7M	$5.2M	15x	as long as short
Aftermath Perps UNIUSD	+0.0851%	1h	9.1506	−0.700%	$1K	$49K	10x	as long as short