Funding arb · Price arb /

UNI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0166%/8h= +18.1% APRpaid last 24h 0.000%

Price spread now: Orderly against Nado−0.073%7-day average +0.039% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Nado Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.001%$0 on $10k

Price spread, last 4 days (all we have)+0.253%+$25 · spread now −0.073%, 7d avg +0.039%

Together, before fees+0.254%+ Points / potential airdropNado: Active · farm board+$25 on $10k · with fees, hour by hour

Funding pays, the price is against you. Orderly is 0.112% cheaper against Nado than usual: you would sell low and buy high (spread −0.073% now, against its 7-day average of +0.039%). If the spread goes back, that is −$11 on $10k: about 2.3 days of funding at the current rate (+$5 a day). At the pace of the last 3 days (+0.001% in total) that is about 9 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado UNI-PERP	8.8825	−0.0066	get 0.0008% / 1h	20m 57s	$820K	$4.6M	10x
Short	Orderly PERP_UNI_USDC	8.8760	0.0100	get 0.0100% / 8h	2h 20m	$16K	$1.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Nado. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 OrderlybpOrdersPrice spread, now −0.073%Rate

Funding earned: $34.77
Price spread: −0.073% → +0.039%: −$11.21
Slippage, 4 orders: no order book: not counted
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Orderly: 3 bp × 2 orders: −$6
Net: $10.56
Costs to cover: 0.130%
Break-even: 4.9 days

Slippage unknown: Nado: live order book, 3 min ago; Orderly: no order-book sample. Net counts fees only.

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, 3 min ago	0.45 bp	6.1 bp −$6	14.7 bp −$147	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Nado UNI-PERPlong	−0.0066%	1h	8.8825	long leg	$820K	$4.6M	10x
Kraken Futures PF_UNIUSD	−0.0017%	1h	8.8763	−0.070%	$4.7M	$8.5M	50x	as long as short
01 Exchange UNIUSD	−0.0016%	1h	8.8864	+0.044%	$443	$5	10x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0007%	1h	8.8776	−0.055%	$49K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−0.591%	$660	$153K	12x	as long as short
Polymarket Perps UNI-USD	+0.0090%	1h	8.8821	−0.005%	$110K	$534K	10x	as long as short
Lighter UNI	+0.0096%	1h	8.8862	+0.042%	$4.5M	$5.6M	15x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.8807	−0.021%	$25K	—	20x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.8921	+0.108%	$740K	$3.6M	50x	as long as short
Pacifica UNI	+0.0100%	1h	8.8860	+0.039%	$285K	$616K	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	8.8932	+0.121%	$217.2M	$661.0M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	8.8900	+0.084%	$99.5M	$112.2M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	8.8970	+0.163%	$54.3M	$265.3M	50x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.8920	+0.107%	$317K	$700K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.8900	+0.084%	$24.2M	$65.9M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.8970	+0.163%	$49.3M	$27.0M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.8900	+0.084%	$12.9M	$13.5M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.8950	+0.141%	$32.5M	$45.9M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	8.8850	+0.028%	—	$6.5M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	8.8837	+0.014%	$1.1M	$2.4M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	8.8719	−0.119%	$4.1M	$4.2M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.8443	−0.430%	$167K	$345K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.8591	−0.264%	$619K	$2.7M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.8460	−0.411%	$89K	$708K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.8580	−0.276%	$15K	$3.5M	20x	as long as short
Orderly PERP_UNI_USDCshort	+0.0100%	8h	8.8760	−0.073%	$16K	$1.7M	10x
SunX UNI-USDT	+0.0100%	8h	8.8878	+0.060%	$36K	$1.4M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.8740	−0.096%	$32K	$865K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.8862	+0.042%	$714K	$5.0M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.8770	−0.062%	$26.8M	$4.5M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	8.8940	+0.130%	$299K	$1.7M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.8750	−0.085%	$31K	—	3x	as long as short
Hyperliquid UNI	+0.0126%	1h	8.8999	+0.196%	$94.7M	$66.0M	10x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0167%	1h	8.8794	−0.035%	$568K	$203K	50x	as long as short
Coinbase International UNI-PERP-INTX	+0.0184%	1h	8.8830	+0.006%	$927K	$5.7M	50x	as long as short
dYdX UNI-USD	+0.0193%	1h	8.8808	−0.019%	$234K	$31K	10x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.8750	−0.084%	$10.1M	$3.6M	75x	as long as short
Reya UNIRUSDPERP	+0.0377%	1h	8.8812	−0.014%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0243%	1h	8.8783	−0.048%	$632K	—	120x	as long as short
Aftermath Perps UNIUSD	+0.0662%	1h	8.8680	−0.163%	$902	$45K	10x	as long as short