Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0223%/8h= +24.4% APRpaid last 24h +0.077%

Price spread now: GMX against KuCoin−0.062%7-day average +0.040% · you buy dearer than you sell

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

Long on KuCoin Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.114%+$11 on $10k

Price spread, last 3 days (all we have)+0.165%+$17 · spread now −0.062%, 7d avg +0.040%

Together, before fees+0.279%+$28 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.102% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.062% now, against its 7-day average of +0.040%). If the spread goes back, that is −$10 on $10k: about 37 hours of funding at the current rate (+$7 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin UNIUSDTM	9.1030	0.0100	pay 0.0100% / 8h	7h 06m	$13.7M	$13.6M	75x
Short	GMX UNI/USD [UNI-USDC]	9.0973	L +0.0381% / S −0.0323%	get 0.0040% / 1h	6m 01s	$575K	—	120x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against KuCoin. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 GMXbpOrdersPrice spread, now −0.062%Rate

Funding earned: $46.78
Price spread: −0.062% → +0.040%: −$10.17
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: $12.62
Costs to cover: 0.240%
Break-even: 5.1 days

Slippage unknown: KuCoin: live order book, 3 min ago; GMX: 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 KuCoin live order book, 3 min ago	1.64 bp	22.1 bp −$22	30.3 bp −$303	70.3 bp −$7,026	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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 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
Deribit UNI_USDC-PERPETUAL	0.0000%	1h	9.1013	−0.019%	$588K	$186K	50x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0004%	1h	9.0989	−0.045%	$19K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−2.999%	$660	$154K	12x	as long as short
01 Exchange UNIUSD	+0.0096%	1h	9.1089	+0.065%	$455	—	10x	as long as short
Nado UNI-PERP	+0.0100%	1h	9.1070	+0.044%	$977K	$4.3M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	9.1075	+0.050%	$1.0M	$2.9M	50x	as long as short
Pacifica UNI	+0.0100%	1h	9.1286	+0.281%	$302K	$586K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	9.0960	−0.077%	$230.9M	$600.6M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	9.0920	−0.121%	$102.4M	$107.3M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	9.0900	−0.143%	$56.1M	$253.9M	50x	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	9.1220	+0.209%	$282K	$617K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	9.1030	0.000%	$23.3M	$60.6M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	9.1010	−0.022%	$50.8M	$25.3M	200x	as long as short
KuCoin UNIUSDTMlong	+0.0100%	8h	9.1030	long leg	$13.7M	$13.6M	75x
Bitget UNIUSDT	+0.0100%	8h	9.0910	−0.132%	$33.4M	$42.9M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	9.0950	−0.088%	—	$6.5M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	9.0964	−0.073%	$998K	$2.4M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	9.0908	−0.134%	$4.1M	$4.4M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	9.1543	+0.564%	$172K	$344K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	9.1560	+0.582%	$638K	$2.6M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	9.1520	+0.538%	$89K	$708K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	9.1430	+0.439%	$56K	$3.3M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	9.1115	+0.093%	$84K	$388K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	9.1010	−0.022%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	9.1167	+0.150%	$37K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	9.1021	−0.010%	$22K	$709K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	9.1232	+0.222%	$720K	$4.4M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	9.1070	+0.044%	$27.5M	$4.5M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	9.1119	+0.098%	$26K	—	20x	as long as short
Extended UNI-USD	+0.0104%	1h	9.0962	−0.074%	$305K	$1.5M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	9.1016	−0.016%	$32K	—	3x	as long as short
dYdX UNI-USD	+0.0198%	1h	9.1304	+0.301%	$245K	$24K	10x	as long as short
BloFin UNI-USDT	+0.0220%	8h	9.1460	+0.472%	$10.6M	$3.6M	75x	as long as short
Coinbase International UNI-PERP-INTX	+0.0272%	1h	9.1160	+0.143%	$1.1M	$4.8M	50x	as long as short
Reya UNIRUSDPERP	+0.0367%	1h	9.1025	−0.005%	$17K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]short	L +0.0381% / S −0.0323%	1h	9.0973	−0.062%	$575K	—	120x
Kraken Futures PF_UNIUSD	+0.0386%	1h	9.1072	+0.046%	$5.0M	$7.0M	50x	as long as short
Hyperliquid UNI	+0.0531%	1h	9.1068	+0.042%	$100.2M	$58.5M	10x	as long as short
Lighter UNI	+0.0960%	1h	9.1222	+0.211%	$4.6M	$5.3M	15x	as long as short
Aftermath Perps UNIUSD	+0.1066%	1h	9.1539	+0.559%	$895	$49K	10x	as long as short