UNI

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0768%/8h= −84.1% APRnext payment −$0.96 per $10,000 · paid last 24h −0.152%

Price spread now: Coinbase International against Lighter−0.155%7-day average −0.136% · you buy dearer than you sell

Net, funding: paid 7d − costs−$88as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$420.423% of the position

Long on Lighter Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.454%−$45 on $10k

Price spread, last 3 days (all we have)+0.123%+$12 · spread now −0.155%, 7d avg −0.136%

Together, before fees−0.331%+ Points / potential airdropLighter: Season 3 · farm board−$33 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.136%, so right now this pair is about funding alone: −$23 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.454% in total (about -23.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.96 per $10,000. 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	Lighter UNI	9.0330	0.1000	pay 0.0125% / 1h	56m 27s	$4.6M	$5.1M	15x
Short	Coinbase International UNI-PERP-INTX	9.0190	0.0232	get 0.0029% / 1h	56m 27s	$1.1M	$5.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Lighter. 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 LighterbpFee Coinbase InternationalbpOrdersPrice spread, now −0.155%Rate

Funding earned: −$161.28
Price spread: −0.155% → −0.136%: −$1.86
Slippage, 4 orders: −$32.27
Fee Lighter: 0 bp × 2 orders: $0
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$205.41
Costs to cover: 0.423%
Break-even: never at this rate

Slippage from Lighter: live order book, 6 min ago; Coinbase International: live order book, 2 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 Lighter live order book, 6 min ago	1.39 bp	8.7 bp −$9	21.4 bp −$214	100.0 bp −$10.0K	doesn't fit
Sell Coinbase International live order book, 2 min ago	4.44 bp	15.8 bp −$16	20.1 bp −$201	63.4 bp −$6,344	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
Injective UNI/USDC PERP	−0.0049%	1h	8.8300	−2.247%	$660	$155K	12x	as long as short
Variational Omni UNI	−0.0022%	8h	8.9623	−0.783%	$4.0M	$4.6M	—	as long as short
dYdX UNI-USD	0.0000%	1h	9.0120	−0.232%	$250K	$6K	10x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0004%	1h	9.0185	−0.161%	$63K	—	150x	as long as short
Bybit UNIUSDT	+0.0036%	8h	9.0140	−0.210%	$102.9M	$104.9M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0071%	8h	9.0150	−0.199%	$55.6M	$249.5M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	9.0123	−0.229%	$26K	—	20x	as long as short
Nado UNI-PERP	+0.0100%	1h	9.0110	−0.244%	$953K	$4.1M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	9.0254	−0.084%	$1.1M	$3.3M	50x	as long as short
Pacifica UNI	+0.0100%	1h	9.0148	−0.202%	$301K	$586K	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	9.0195	−0.149%	$222.5M	$593.5M	75x	as long as short
Arcus UNI-USD	+0.0100%	1h	9.0230	−0.111%	$279K	$619K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	9.0180	−0.166%	$23.2M	$57.6M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	9.0180	−0.166%	$43.4M	$23.6M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	9.0170	−0.177%	$13.7M	$13.8M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	9.0200	−0.144%	$32.8M	$41.5M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	9.0180	−0.166%	—	$6.5M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.9843	−0.539%	$169K	$341K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.9813	−0.573%	$629K	$2.5M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.9870	−0.509%	$89K	$712K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	9.0130	−0.221%	$108K	$3.2M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	9.0182	−0.164%	$87K	$355K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	9.0200	−0.144%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	9.0171	−0.176%	$37K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	9.0098	−0.257%	$25K	$664K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	9.0187	−0.158%	$737K	$4.3M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	9.0080	−0.277%	$27.2M	$4.4M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	9.0118	−0.235%	$302K	$1.5M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	9.0218	−0.124%	$32K	$1K	3x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0127%	1h	9.0140	−0.210%	$573K	$157K	50x	as long as short
Backpack UNI_USDC_PERP	+0.0169%	1h	9.0123	−0.229%	$1.0M	$2.3M	10x	as long as short
BloFin UNI-USDT	+0.0220%	8h	9.0120	−0.232%	$10.0M	$3.4M	75x	as long as short
01 Exchange UNIUSD	+0.0224%	1h	9.0180	−0.166%	$450	—	10x	as long as short
Coinbase International UNI-PERP-INTXshort	+0.0232%	1h	9.0190	−0.155%	$1.1M	$5.4M	50x
Reya UNIRUSDPERP	+0.0363%	1h	9.0134	−0.217%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0380% / S −0.0320%	1h	9.0191	−0.154%	$566K	—	120x	as long as short
Kraken Futures PF_UNIUSD	+0.0561%	1h	9.0174	−0.173%	$5.0M	$7.1M	50x	as long as short
Aftermath Perps UNIUSD	+0.0714%	1h	8.9899	−0.478%	$1K	$49K	10x	as long as short
Hyperliquid UNI	+0.0787%	1h	9.0320	−0.011%	$99.5M	$59.6M	10x	as long as short
Lighter UNIlong	+0.1000%	1h	9.0330	long leg	$4.6M	$5.1M	15x