Funding arb · Price arb /

UNI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.006%

Price spread now: Backpack against MEXC+0.074%7-day average +0.466% · you sell dearer than you buy

Net, funding: paid 7d − costs−$15as in the Funding arb table

Net, price: spread back to 7d avg − costs−$60as in the Price arb table

costs, in and out, $10k−$210.207% of the position

Long on MEXC Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.053%+$5 on $10k

Price spread, last 7 days+0.286%+$29 · spread now +0.074%, 7d avg +0.466%

Together, before fees+0.339%+$34 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 0.392% cheaper against MEXC than usual: you would sell low and buy high, −$39 on $10k if it goes back to its 7-day average of +0.466%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC UNI_USDT	9.0690	0.0100	pay 0.0100% / 8h	4h 04m	$47.8M	$25.5M	200x
Short	Backpack UNI_USDC_PERP	9.0757	0.0100	get 0.0013% / 1h	4m 03s	$1.0M	$2.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against MEXC. 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 MEXCbpFee BackpackbpOrdersPrice spread, now +0.074%Rate

Funding earned: $0
Price spread: +0.074% → +0.466%: −$39.24
Slippage, 4 orders: −$6.7
Fee MEXC: 2 bp × 2 orders: −$4
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$59.94
Costs to cover: 0.207%
Break-even: never at this rate

Slippage from MEXC: live order book, 5 min ago; Backpack: live order book, 5 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 MEXC live order book, 5 min ago	0.55 bp	2.6 bp −$3	3.9 bp −$39	23.4 bp −$2,343	168.8 bp −$84.4K
Sell Backpack live order book, 5 min ago	0.55 bp	6.0 bp −$6	353.4 bp −$3,534	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 −0.0004%	1h	9.0655	−0.038%	$37K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−2.635%	$660	$154K	12x	as long as short
01 Exchange UNIUSD	+0.0056%	1h	9.0661	−0.032%	$452	$5	10x	as long as short
Nado UNI-PERP	+0.0100%	1h	9.0685	−0.006%	$964K	$4.4M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	9.0701	+0.012%	$816K	$3.5M	50x	as long as short
Pacifica UNI	+0.0100%	1h	9.0550	−0.154%	$293K	$600K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	9.0710	+0.022%	$222.8M	$639.1M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	9.0680	−0.011%	$101.9M	$111.2M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	9.0680	−0.011%	$55.2M	$262.0M	50x	as long as short
Arcus UNI-USD	+0.0100%	1h	9.0710	+0.022%	$314K	$650K	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	9.0700	+0.011%	$23.6M	$64.0M	75x	as long as short
MEXC UNI_USDTlong	+0.0100%	8h	9.0690	long leg	$47.8M	$25.5M	200x
KuCoin UNIUSDTM	+0.0100%	8h	9.0620	−0.077%	$13.5M	$13.2M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	9.0660	−0.033%	$33.5M	$45.0M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	9.0680	−0.011%	—	$6.5M	—	as long as short
Backpack UNI_USDC_PERPshort	+0.0100%	1h	9.0757	+0.074%	$1.0M	$2.3M	10x
Variational Omni UNI	+0.0100%	8h	9.0449	−0.266%	$4.2M	$4.1M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	9.0511	−0.198%	$171K	$345K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	9.0530	−0.176%	$641K	$2.8M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	9.0510	−0.198%	$95K	$701K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	9.0490	−0.221%	$15K	$3.4M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	9.0655	−0.039%	$86K	$430K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	9.0630	−0.066%	$16K	$1.5M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	9.0703	+0.014%	$37K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	9.0660	−0.033%	$22K	$792K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	9.0760	+0.077%	$725K	$4.7M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	9.0700	+0.011%	$27.4M	$4.4M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	9.0465	−0.248%	$26K	—	20x	as long as short
Extended UNI-USD	+0.0104%	1h	9.0589	−0.111%	$293K	$1.6M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	9.0645	−0.050%	$32K	—	3x	as long as short
dYdX UNI-USD	+0.0179%	1h	9.0563	−0.140%	$238K	$30K	10x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0200%	1h	9.0711	+0.023%	$581K	$207K	50x	as long as short
Lighter UNI	+0.0208%	1h	9.0819	+0.142%	$4.6M	$5.8M	15x	as long as short
BloFin UNI-USDT	+0.0220%	8h	9.0520	−0.187%	$10.3M	$3.6M	75x	as long as short
Coinbase International UNI-PERP-INTX	+0.0248%	1h	9.0700	+0.011%	$951K	$5.9M	50x	as long as short
Kraken Futures PF_UNIUSD	+0.0270%	1h	9.0734	+0.048%	$5.0M	$8.0M	50x	as long as short
Hyperliquid UNI	+0.0313%	1h	9.0787	+0.107%	$98.3M	$62.4M	10x	as long as short
Reya UNIRUSDPERP	+0.0373%	1h	9.0647	−0.047%	$17K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0244%	1h	9.0676	−0.016%	$645K	—	120x	as long as short
Aftermath Perps UNIUSD	+0.0922%	1h	9.0709	+0.021%	$875	$46K	10x	as long as short