Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.008%

Price spread now: Deribit against MEXC−0.095%52s7-day average +0.044% · you buy dearer than you sell

Net, funding: paid 7d − costs−$51as 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−$450.454% of the position

Long on MEXC Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.059%−$6 on $10k

Price spread, last 3 days (all we have)+0.580%+$58 · spread now −0.095%, 7d avg +0.044%

Together, before fees+0.521%+$52 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Deribit is 0.139% cheaper against MEXC than usual: you would sell low and buy high (−$14 if the spread goes back to its 7-day average of +0.044%). Swap the legs. The two prices were read 52 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	MEXC UNI_USDT	8.9150	0.0100	pay 0.0100% / 8h	2h 30m	$43.3M	$24.6M	200x
Short	Deribit UNI_USDC-PERPETUAL	8.9065	0	get 0.0000% / 1h	30m 29s	$563K	$136K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.095%Rate

Funding earned: −$21
Price spread: −0.095% → +0.044%: −$13.93
Slippage, 4 orders: −$34.37
Fee MEXC: 2 bp × 2 orders: −$4
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$80.31
Costs to cover: 0.454%
Break-even: never at this rate

Slippage from MEXC: live order book, 3 min ago; Deribit: live order book, 58 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, 3 min ago	0.56 bp	4.1 bp −$4	8.3 bp −$83	32.9 bp −$3,288	167.3 bp −$83.6K
Sell Deribit live order book, 58 min ago	5.99 bp	20.8 bp −$21	54.5 bp −$545	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	−0.0185%	8h	8.8292	−0.963%	$3.9M	$4.6M	—	as long as short
Bybit UNIUSDT	−0.0143%	8h	8.9130	−0.022%	$101.7M	$105.6M	75x	as long as short
Deribit UNI_USDC-PERPETUALshort	0.0000%	1h	8.9065	−0.095%	$563K	$136K	50x
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0006%	1h	8.9121	−0.033%	$80K	—	150x	as long as short
01 Exchange UNIUSD	+0.0008%	1h	8.9198	+0.054%	$445	—	10x	as long as short
OKX UNI-USDT-SWAP	+0.0014%	8h	8.9120	−0.034%	$54.8M	$247.8M	50x	as long as short
dYdX UNI-USD	+0.0090%	1h	8.9156	+0.006%	$247K	$5K	10x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.9101	−0.055%	$25K	—	20x	as long as short
Nado UNI-PERP	+0.0100%	1h	8.9127	−0.025%	$853K	$3.9M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.9200	+0.056%	$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	8.9160	+0.011%	$298K	$561K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	8.9130	−0.022%	$218.0M	$594.7M	75x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.9220	+0.079%	$275K	$612K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.9130	−0.022%	$23.1M	$59.2M	75x	as long as short
MEXC UNI_USDTlong	+0.0100%	8h	8.9150	long leg	$43.3M	$24.6M	200x
KuCoin UNIUSDTM	+0.0100%	8h	8.9160	+0.011%	$13.8M	$13.7M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.9170	+0.022%	$32.4M	$41.4M	75x	as long as short
BingX UNI-USDT	+0.0100%	8h	8.9100	−0.056%	—	$49.9M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	8.9162	+0.013%	$991K	$2.3M	10x	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.8743	−0.456%	$167K	$344K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.8615	−0.600%	$619K	$2.5M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.8860	−0.325%	$84K	$712K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.9170	+0.022%	$106K	$3.2M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.9182	+0.036%	$87K	$323K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.9000	−0.168%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.9189	+0.044%	$36K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.9002	−0.166%	$25K	$666K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.9233	+0.093%	$728K	$4.3M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.9030	−0.135%	$26.8M	$4.3M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	8.9100	−0.056%	$302K	$1.4M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.9021	−0.144%	$32K	$1K	3x	as long as short
Coinbase International UNI-PERP-INTX	+0.0200%	1h	8.9080	−0.079%	$1.0M	$5.4M	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.9020	−0.146%	$9.8M	$3.3M	75x	as long as short
Kraken Futures PF_UNIUSD	+0.0267%	1h	8.9021	−0.145%	$5.0M	$7.1M	50x	as long as short
Hyperliquid UNI	+0.0304%	1h	8.9261	+0.125%	$97.1M	$59.9M	10x	as long as short
Reya UNIRUSDPERP	+0.0360%	1h	8.9171	+0.023%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0379% / S −0.0320%	1h	8.9018	−0.148%	$557K	—	120x	as long as short
Aftermath Perps UNIUSD	+0.0505%	1h	8.8763	−0.434%	$1K	$50K	10x	as long as short
Lighter UNI	+0.0536%	1h	8.9309	+0.178%	$4.6M	$5.4M	15x	as long as short
Injective UNI/USDC PERP	+0.2702%	1h	8.7900	−1.402%	$657	$97K	12x	as long as short