Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.192%

Price spread now: edgeX against Lighter+0.052%79s7-day average −0.150% · you sell dearer than you buy

Net, funding: paid 7d − costs−$54as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$240.235% of the position

Long on Lighter Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.307%−$31 on $10k

Price spread, last 4 days (all we have)−0.219%−$22 · spread now +0.052%, 7d avg −0.150%

Together, before fees−0.526%+ Points / potential airdropLighter: Season 3 · edgeX: Active · farm board−$53 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: edgeX is 0.202% dearer against Lighter than usual: you sell high and buy low, +$20 on $10k if it goes back to its 7-day average of −0.150%. The two prices were read 79 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter UNI	8.8764	0.0096	pay 0.0012% / 1h	8m 10s	$4.5M	$5.9M	15x
Short	edgeX UNIUSDC	8.8810	0.0100	get 0.0050% / 4h	3h 08m	$168K	$344K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.052%Rate

Funding earned: $0.84
Price spread: +0.052% → −0.150%: $20.16
Slippage, 4 orders: −$14.54
Fee Lighter: 0 bp × 2 orders: $0
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$2.54
Costs to cover: 0.235%
Break-even: 28.1 days

Slippage from Lighter: live order book, 5 min ago; edgeX: live order book, 45 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, 5 min ago	1.24 bp	6.3 bp −$6	13.2 bp −$132	89.6 bp −$8,961	doesn't fit
Sell edgeX live order book, 45 min ago	2.21 bp	6.7 bp −$7	15.6 bp −$156	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
01 Exchange UNIUSD	−0.0008%	1h	8.8665	−0.112%	$442	$5	10x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0007%	1h	8.8727	−0.042%	$48K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−0.523%	$660	$154K	12x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0043%	1h	8.8694	−0.079%	$568K	$208K	50x	as long as short
Lighter UNIlong	+0.0096%	1h	8.8764	long leg	$4.5M	$5.9M	15x
Paradex UNI-USD-PERP	+0.0100%	8h	8.8659	−0.118%	$25K	—	20x	as long as short
Nado UNI-PERP	+0.0100%	1h	8.8610	−0.173%	$860K	$4.5M	10x	as long as short
Hyperliquid UNI	+0.0100%	1h	8.8753	−0.012%	$94.1M	$65.0M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.8680	−0.095%	$769K	$3.6M	50x	as long as short
Pacifica UNI	+0.0100%	1h	8.8670	−0.106%	$286K	$611K	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	8.8636	−0.145%	$216.6M	$651.9M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	8.8620	−0.162%	$99.0M	$112.0M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	8.8630	−0.151%	$53.9M	$260.4M	50x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.8750	−0.016%	$318K	$666K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.8640	−0.140%	$23.4M	$65.3M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.8640	−0.140%	$47.0M	$26.3M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.8630	−0.151%	$13.1M	$13.3M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.8620	−0.162%	$32.6M	$46.1M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	8.8640	−0.140%	—	$6.5M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	8.8723	−0.046%	$1.0M	$2.3M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	8.8419	−0.389%	$4.1M	$4.2M	—	as long as short
edgeX UNIUSDCshort	+0.0100%	4h	8.8810	+0.052%	$168K	$344K	20x
GRVT UNI_USDT_Perp	+0.0100%	8h	8.8650	−0.128%	$616K	$2.8M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.8820	+0.063%	$91K	$701K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.8660	−0.117%	$15K	$3.4M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.8638	−0.142%	$83K	$458K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.8680	−0.095%	$16K	$1.5M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.8700	−0.072%	$36K	$1.4M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.8638	−0.142%	$31K	$818K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.8754	−0.011%	$691K	$4.9M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.8680	−0.095%	$26.8M	$4.4M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	8.8602	−0.183%	$284K	$1.6M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.8625	−0.157%	$31K	—	3x	as long as short
Coinbase International UNI-PERP-INTX	+0.0216%	1h	8.8690	−0.083%	$920K	$5.8M	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.8630	−0.151%	$10.1M	$3.6M	75x	as long as short
dYdX UNI-USD	+0.0231%	1h	8.8657	−0.121%	$233K	$30K	10x	as long as short
Kraken Futures PF_UNIUSD	+0.0274%	1h	8.8693	−0.080%	$4.8M	$8.3M	50x	as long as short
Reya UNIRUSDPERP	+0.0375%	1h	8.8616	−0.166%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0244%	1h	8.8705	−0.066%	$631K	—	120x	as long as short
Aftermath Perps UNIUSD	+0.0700%	1h	8.8858	+0.106%	$891	$45K	10x	as long as short