Funding arb · Price arb /

UNI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.003%

Price spread now: Backpack against Nado+0.037%7-day average +0.460% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$64as in the Price arb table

costs, in and out, $10k−$220.216% of the position

Long on Nado Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.011%+$1 on $10k

Price spread, last 7 days+0.478%+$48 · spread now +0.037%, 7d avg +0.460%

Together, before fees+0.489%+ Points / potential airdropNado: Active · farm board+$49 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 0.423% cheaper against Nado than usual: you would sell low and buy high, −$42 on $10k if it goes back to its 7-day average of +0.460%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado UNI-PERP	8.8920	0.0100	pay 0.0012% / 1h	15m 22s	$850K	$4.0M	10x
Short	Backpack UNI_USDC_PERP	8.8953	0.0100	get 0.0013% / 1h	15m 22s	$987K	$2.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Nado. 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 NadobpFee BackpackbpOrdersPrice spread, now +0.037%Rate

Funding earned: $0
Price spread: +0.037% → +0.460%: −$42.27
Slippage, 4 orders: −$4.57
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$63.84
Costs to cover: 0.216%
Break-even: 6558539816763171.0 days

Slippage from Nado: live order book, 4 min ago; Backpack: live order book, 4 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 Nado live order book, 4 min ago	0.06 bp	4.3 bp −$4	11.6 bp −$116	doesn't fit	doesn't fit
Sell Backpack live order book, 4 min ago	0.06 bp	6.1 bp −$6	181.7 bp −$1,817	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	−0.0146%	8h	8.9020	+0.113%	$4.0M	$4.6M	—	as long as short
Bybit UNIUSDT	−0.0094%	8h	8.8890	−0.034%	$101.3M	$106.1M	75x	as long as short
Deribit UNI_USDC-PERPETUAL	0.0000%	1h	8.8928	+0.009%	$562K	$138K	50x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0006%	1h	8.8919	−0.001%	$80K	—	150x	as long as short
OKX UNI-USDT-SWAP	+0.0024%	8h	8.8880	−0.045%	$54.7M	$247.9M	50x	as long as short
01 Exchange UNIUSD	+0.0024%	1h	8.8941	+0.024%	$444	—	10x	as long as short
dYdX UNI-USD	+0.0090%	1h	8.8975	+0.061%	$246K	$5K	10x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.8935	+0.017%	$25K	—	20x	as long as short
Nado UNI-PERPlong	+0.0100%	1h	8.8920	long leg	$850K	$4.0M	10x
Aster UNIUSDT	+0.0100%	8h	8.8966	+0.052%	$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	8.8968	+0.054%	$301K	$563K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	8.8910	−0.011%	$217.3M	$595.7M	75x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.8980	+0.067%	$274K	$612K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.8920	0.000%	$23.1M	$59.4M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.8890	−0.034%	$43.2M	$24.7M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.8890	−0.034%	$13.4M	$13.9M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.8870	−0.056%	$32.2M	$41.5M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	8.8910	−0.011%	—	$6.5M	—	as long as short
Backpack UNI_USDC_PERPshort	+0.0100%	1h	8.8953	+0.037%	$987K	$2.3M	10x
edgeX UNIUSDC	+0.0100%	4h	8.8994	+0.083%	$167K	$344K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.8970	+0.056%	$618K	$2.6M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.9000	+0.090%	$84K	$713K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.8900	−0.022%	$106K	$3.2M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.8895	−0.028%	$94K	$334K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.8850	−0.079%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.8938	+0.020%	$36K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.8890	−0.034%	$25K	$666K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.9034	+0.128%	$723K	$4.3M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.8880	−0.045%	$26.8M	$4.3M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	8.8879	−0.046%	$308K	$1.5M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.8886	−0.038%	$32K	$1K	3x	as long as short
Coinbase International UNI-PERP-INTX	+0.0200%	1h	8.9090	+0.191%	$1.0M	$5.4M	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.9070	+0.169%	$9.8M	$3.4M	75x	as long as short
Kraken Futures PF_UNIUSD	+0.0267%	1h	8.8960	+0.045%	$5.0M	$7.1M	50x	as long as short
Hyperliquid UNI	+0.0301%	1h	8.9009	+0.100%	$96.9M	$59.8M	10x	as long as short
Reya UNIRUSDPERP	+0.0360%	1h	8.8882	−0.043%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0379% / S −0.0320%	1h	8.8920	0.000%	$558K	—	120x	as long as short
Aftermath Perps UNIUSD	+0.0543%	1h	8.9056	+0.153%	$1K	$50K	10x	as long as short
Lighter UNI	+0.0576%	1h	8.9133	+0.240%	$4.6M	$5.4M	15x	as long as short
Injective UNI/USDC PERP	+0.2702%	1h	8.7900	−1.147%	$657	$97K	12x	as long as short