Funding arb · Price arb /

UNI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.004%

Price spread now: Phemex against MEXC−0.067%7-day average +0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs−$37as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$390.386% of the position

Long on MEXC Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.019%+$2 on $10k

Price spread, last 3 days (all we have)+0.261%+$26 · spread now −0.067%, 7d avg +0.023%

Together, before fees+0.279%+$28 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: Phemex is 0.089% cheaper against MEXC than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of +0.023%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC UNI_USDT	9.0010	0.0100	pay 0.0100% / 8h	7h 57m	$44.1M	$23.2M	200x
Short	Phemex UNIUSDT	8.9950	0.0100	get 0.0100% / 8h	7h 57m	$27.1M	$4.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.067%Rate

Funding earned: $0
Price spread: −0.067% → +0.023%: −$8.94
Slippage, 4 orders: −$22.56
Fee MEXC: 2 bp × 2 orders: −$4
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$47.51
Costs to cover: 0.386%
Break-even: never at this rate

Slippage from MEXC: live order book, 1 min ago; Phemex: live order book, 6 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, 1 min ago	0.56 bp	3.8 bp −$4	7.8 bp −$78	26.5 bp −$2,651	167.4 bp −$83.7K
Sell Phemex live order book, 6 min ago	2.79 bp	8.8 bp −$9	31.7 bp −$317	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
dYdX UNI-USD	0.0000%	1h	8.9757	−0.281%	$249K	$6K	10x	as long as short
01 Exchange UNIUSD	0.0000%	1h	8.9847	−0.181%	$448	—	10x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0004%	1h	8.9981	−0.033%	$62K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−1.900%	$660	$154K	12x	as long as short
OKX UNI-USDT-SWAP	+0.0086%	8h	9.0000	−0.011%	$55.0M	$249.8M	50x	as long as short
Variational Omni UNI	+0.0090%	8h	9.0023	+0.014%	$4.1M	$4.4M	—	as long as short
Nado UNI-PERP	+0.0100%	1h	8.9810	−0.222%	$945K	$4.2M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.9972	−0.042%	$1.0M	$3.3M	50x	as long as short
Pacifica UNI	+0.0100%	1h	8.9818	−0.213%	$299K	$591K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	9.0030	+0.022%	$222.8M	$592.2M	75x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit UNIUSDT	+0.0100%	8h	9.0020	+0.011%	$101.7M	$105.9M	75x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.9930	−0.089%	$270K	$614K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	9.0010	0.000%	$22.9M	$57.2M	75x	as long as short
MEXC UNI_USDTlong	+0.0100%	8h	9.0010	long leg	$44.1M	$23.2M	200x
KuCoin UNIUSDTM	+0.0100%	8h	9.0030	+0.022%	$13.6M	$13.5M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.9980	−0.033%	$32.9M	$42.1M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	9.0000	−0.011%	—	$6.5M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	8.9965	−0.050%	$1.1M	$2.4M	10x	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.9998	−0.014%	$169K	$345K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	9.0010	0.000%	$626K	$2.5M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	9.0080	+0.078%	$88K	$708K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.9900	−0.122%	$36K	$3.3M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.9910	−0.111%	$86K	$372K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.9920	−0.100%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.9891	−0.132%	$36K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.9920	−0.100%	$21K	$679K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	9.0013	+0.003%	$722K	$4.4M	75x	as long as short
Phemex UNIUSDTshort	+0.0100%	8h	8.9950	−0.067%	$27.1M	$4.5M	50x
Paradex UNI-USD-PERP	+0.0100%	8h	8.9811	−0.222%	$26K	—	20x	as long as short
Extended UNI-USD	+0.0104%	1h	8.9973	−0.041%	$302K	$1.5M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.9951	−0.066%	$32K	—	3x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0176%	1h	8.9999	−0.013%	$579K	$177K	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.9930	−0.089%	$10.0M	$3.5M	75x	as long as short
Hyperliquid UNI	+0.0233%	1h	9.0023	+0.014%	$98.5M	$59.7M	10x	as long as short
Coinbase International UNI-PERP-INTX	+0.0272%	1h	8.9910	−0.111%	$1.1M	$5.4M	50x	as long as short
Reya UNIRUSDPERP	+0.0365%	1h	8.9882	−0.142%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0382% / S −0.0323%	1h	8.9971	−0.043%	$569K	—	120x	as long as short
Kraken Futures PF_UNIUSD	+0.0390%	1h	9.0001	−0.010%	$5.0M	$7.0M	50x	as long as short
Lighter UNI	+0.0712%	1h	9.0126	+0.129%	$4.6M	$5.2M	15x	as long as short
Aftermath Perps UNIUSD	+0.0866%	1h	8.9915	−0.105%	$1K	$49K	10x	as long as short