Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0028%/8h= −3.1% APRpaid last 24h −0.001%

Price spread now: Deribit against KuCoin+0.022%7-day average +0.058% · you sell dearer than you buy

Net, funding: paid 7d − costs−$68as in the Funding arb table

Net, price: spread back to 7d avg − costs−$66as in the Price arb table

costs, in and out, $10k−$630.627% of the position

Long on KuCoin Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.057%−$6 on $10k

Price spread, last 3 days (all we have)+0.312%+$31 · spread now +0.022%, 7d avg +0.058%

Together, before fees+0.254%+$25 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Deribit is 0.036% cheaper against KuCoin than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.058%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin UNIUSDTM	8.8290	0.0100	pay 0.0100% / 8h	1h 31m	$13.5M	$13.8M	75x
Short	Deribit UNI_USDC-PERPETUAL	8.8310	0.0072	get 0.0009% / 1h	31m 37s	$561K	$157K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.022%Rate

Funding earned: −$5.88
Price spread: +0.022% → +0.058%: −$3.58
Slippage, 4 orders: −$43.74
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$72.2
Costs to cover: 0.627%
Break-even: never at this rate

Slippage from KuCoin: live order book, 2 min ago; Deribit: live order book, 52 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, 2 min ago	1.13 bp	22.2 bp −$22	35.8 bp −$358	77.3 bp −$7,732	doesn't fit
Sell Deribit live order book, 52 min ago	8.70 bp	12.5 bp −$13	21.0 bp −$210	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	−0.0076%	8h	8.8115	−0.198%	$3.9M	$4.5M	—	as long as short
Bybit UNIUSDT	−0.0013%	8h	8.8270	−0.023%	$100.7M	$104.3M	75x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0004%	1h	8.8276	−0.016%	$61K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	+0.011%	$660	$155K	12x	as long as short
OKX UNI-USDT-SWAP	+0.0040%	8h	8.8260	−0.034%	$54.7M	$243.3M	50x	as long as short
01 Exchange UNIUSD	+0.0048%	1h	8.8332	+0.048%	$441	—	10x	as long as short
Deribit UNI_USDC-PERPETUALshort	+0.0072%	1h	8.8310	+0.022%	$561K	$157K	50x
Paradex UNI-USD-PERP	+0.0100%	8h	8.8269	−0.024%	$25K	—	20x	as long as short
Nado UNI-PERP	+0.0100%	1h	8.8250	−0.045%	$934K	$4.0M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.8360	+0.079%	$1.0M	$3.4M	50x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica UNI	+0.0100%	1h	8.8308	+0.021%	$296K	$570K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	8.8290	0.000%	$216.7M	$588.0M	75x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.8360	+0.079%	$281K	$615K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.8280	−0.011%	$22.9M	$58.5M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.8290	0.000%	$42.7M	$24.5M	200x	as long as short
KuCoin UNIUSDTMlong	+0.0100%	8h	8.8290	long leg	$13.5M	$13.8M	75x
Bitget UNIUSDT	+0.0100%	8h	8.8280	−0.011%	$32.0M	$41.3M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	8.8270	−0.023%	—	$6.5M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	8.8287	−0.003%	$980K	$2.3M	10x	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.8185	−0.119%	$166K	$343K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.8300	+0.011%	$612K	$2.5M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.8280	−0.011%	$87K	$714K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.8350	+0.068%	$105K	$3.2M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.8230	−0.068%	$86K	$351K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.8240	−0.057%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.8277	−0.015%	$36K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.8251	−0.044%	$25K	$666K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.8357	+0.076%	$726K	$4.3M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.8260	−0.034%	$26.5M	$4.5M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	8.8240	−0.057%	$300K	$1.4M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.8522	+0.263%	$31K	$1K	3x	as long as short
dYdX UNI-USD	+0.0112%	1h	8.8339	+0.056%	$245K	$6K	10x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.8330	+0.045%	$9.8M	$3.3M	75x	as long as short
Coinbase International UNI-PERP-INTX	+0.0224%	1h	8.8290	0.000%	$1.0M	$5.3M	50x	as long as short
Hyperliquid UNI	+0.0298%	1h	8.8410	+0.136%	$96.7M	$59.1M	10x	as long as short
Kraken Futures PF_UNIUSD	+0.0343%	1h	8.8340	+0.057%	$4.9M	$7.0M	50x	as long as short
Reya UNIRUSDPERP	+0.0362%	1h	8.8204	−0.097%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0379% / S −0.0319%	1h	8.8271	−0.021%	$553K	—	120x	as long as short
Lighter UNI	+0.0608%	1h	8.8479	+0.214%	$4.5M	$5.2M	15x	as long as short
Aftermath Perps UNIUSD	+0.0632%	1h	8.8317	+0.030%	$1K	$49K	10x	as long as short