Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.003%

Price spread now: Backpack against KuCoin−0.077%7-day average +0.479% · you buy dearer than you sell

Net, funding: paid 7d − costs−$50as in the Funding arb table

Net, price: spread back to 7d avg − costs−$111as in the Price arb table

costs, in and out, $10k−$550.555% of the position

Long on KuCoin Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.055%+$5 on $10k

Price spread, last 7 days+0.362%+$36 · spread now −0.077%, 7d avg +0.479%

Together, before fees+0.416%+$42 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.557% cheaper against KuCoin than usual: you would sell low and buy high, −$56 on $10k if it goes back to its 7-day average of +0.479%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin UNIUSDTM	9.2010	0.0100	pay 0.0100% / 8h	5h 15m	$13.8M	$12.9M	75x
Short	Backpack UNI_USDC_PERP	9.1939	0.0100	get 0.0013% / 1h	15m 13s	$1.0M	$2.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against KuCoin. 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 KuCoinbpFee BackpackbpOrdersPrice spread, now −0.077%Rate

Funding earned: $0
Price spread: −0.077% → +0.479%: −$55.66
Slippage, 4 orders: −$33.48
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$111.14
Costs to cover: 0.555%
Break-even: never at this rate

Slippage from KuCoin: live order book, 3 min ago; Backpack: live order book, 4 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 KuCoin live order book, 3 min ago	2.69 bp	26.5 bp −$26	34.8 bp −$348	doesn't fit	doesn't fit
Sell Backpack live order book, 4 min ago	0.05 bp	8.3 bp −$8	577.9 bp −$5,779	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
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0006%	1h	9.1967	−0.047%	$49K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−4.032%	$660	$154K	12x	as long as short
01 Exchange UNIUSD	+0.0056%	1h	9.2008	−0.002%	$459	$5	10x	as long as short
Nado UNI-PERP	+0.0100%	1h	9.2020	+0.011%	$949K	$4.3M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	9.2049	+0.042%	$1.0M	$2.9M	50x	as long as short
Pacifica UNI	+0.0100%	1h	9.1856	−0.168%	$299K	$573K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	9.1934	−0.083%	$228.6M	$620.1M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	9.1880	−0.141%	$103.3M	$109.6M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	9.1860	−0.163%	$56.9M	$257.8M	50x	as long as short
Arcus UNI-USD	+0.0100%	1h	9.2100	+0.098%	$292K	$614K	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate UNI_USDT	+0.0100%	8h	9.1880	−0.141%	$23.6M	$61.7M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	9.1910	−0.109%	$49.2M	$25.3M	200x	as long as short
KuCoin UNIUSDTMlong	+0.0100%	8h	9.2010	long leg	$13.8M	$12.9M	75x
Bitget UNIUSDT	+0.0100%	8h	9.1820	−0.206%	$33.6M	$43.3M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	9.1790	−0.239%	—	$6.5M	—	as long as short
Backpack UNI_USDC_PERPshort	+0.0100%	1h	9.1939	−0.077%	$1.0M	$2.3M	10x
Variational Omni UNI	+0.0100%	8h	9.2057	+0.051%	$4.3M	$4.2M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	9.2667	+0.714%	$175K	$345K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	9.2320	+0.337%	$647K	$2.6M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	9.2680	+0.728%	$90K	$694K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	9.2140	+0.141%	$51K	$3.3M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	9.2044	+0.037%	$88K	$418K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	9.2020	+0.011%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	9.2078	+0.074%	$37K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	9.1938	−0.078%	$22K	$772K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	9.2199	+0.205%	$725K	$4.4M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	9.1960	−0.054%	$27.8M	$4.5M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	9.1949	−0.066%	$26K	—	20x	as long as short
Extended UNI-USD	+0.0104%	1h	9.1936	−0.081%	$312K	$1.6M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	9.1999	−0.012%	$33K	—	3x	as long as short
dYdX UNI-USD	+0.0106%	1h	9.1837	−0.188%	$242K	$31K	10x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0183%	1h	9.2059	+0.053%	$590K	$193K	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	9.1960	−0.054%	$10.4M	$3.6M	75x	as long as short
Kraken Futures PF_UNIUSD	+0.0267%	1h	9.2026	+0.017%	$5.1M	$7.7M	50x	as long as short
Coinbase International UNI-PERP-INTX	+0.0296%	1h	9.2020	+0.011%	$1.1M	$5.4M	50x	as long as short
Reya UNIRUSDPERP	+0.0371%	1h	9.2031	+0.023%	$17K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0244%	1h	9.1954	−0.060%	$655K	—	120x	as long as short
Hyperliquid UNI	+0.0536%	1h	9.2050	+0.043%	$100.0M	$61.4M	10x	as long as short
Lighter UNI	+0.0576%	1h	9.2048	+0.041%	$4.7M	$5.8M	15x	as long as short
Aftermath Perps UNIUSD	+0.0974%	1h	9.2184	+0.189%	$1K	$47K	10x	as long as short