Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0157%/8h= +17.2% APRpaid last 24h 0.000%

Price spread now: Phemex against Nado+0.290%7-day average +0.068% · 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−$27as in the Price arb table

costs, in and out, $10k−$490.491% of the position

Long on Nado Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.002%$0 on $10k

Price spread, last 4 days (all we have)−0.108%−$11 · spread now +0.290%, 7d avg +0.068%

Together, before fees−0.106%+ Points / potential airdropNado: Active · farm board−$11 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Phemex is 0.222% dearer against Nado than usual: you sell high and buy low: +$22 more if the spread goes back to its 7-day average of +0.068%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado UNI-PERP	8.9520	−0.0057	get 0.0007% / 1h	17m 20s	$822K	$4.6M	10x
Short	Phemex UNIUSDT	8.9780	0.0100	get 0.0100% / 8h	2h 17m	$27.1M	$4.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.290%Rate

Funding earned: $32.95
Price spread: +0.290% → +0.068%: $22.2
Slippage, 4 orders: −$30.12
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Phemex: 6 bp × 2 orders: −$12
Net: $6.03
Costs to cover: 0.491%
Break-even: 5.7 days

Slippage from Nado: live order book, 2 min ago; Phemex: live order book, 2 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, 2 min ago	0.06 bp	5.1 bp −$5	15.9 bp −$159	doesn't fit	doesn't fit
Sell Phemex live order book, 2 min ago	1.67 bp	11.4 bp −$11	26.0 bp −$260	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
Nado UNI-PERPlong	−0.0057%	1h	8.9520	long leg	$822K	$4.6M	10x
Kraken Futures PF_UNIUSD	−0.0017%	1h	8.9888	+0.411%	$4.8M	$8.5M	50x	as long as short
01 Exchange UNIUSD	−0.0008%	1h	8.9519	−0.001%	$447	$5	10x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0007%	1h	8.9398	−0.136%	$49K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−1.363%	$660	$153K	12x	as long as short
Polymarket Perps UNI-USD	+0.0091%	1h	8.9442	−0.087%	$100K	$552K	10x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0093%	1h	8.9489	−0.035%	$573K	$202K	50x	as long as short
Lighter UNI	+0.0096%	1h	8.9584	+0.071%	$4.5M	$5.6M	15x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.9506	−0.016%	$26K	—	20x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.9458	−0.070%	$742K	$3.6M	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	8.9520	0.000%	$287K	$612K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	8.9397	−0.137%	$218.2M	$660.7M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	8.9350	−0.190%	$99.9M	$111.6M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	8.9420	−0.112%	$54.7M	$265.9M	50x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.9640	+0.134%	$320K	$703K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.9450	−0.078%	$24.5M	$66.2M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.9440	−0.089%	$49.3M	$27.1M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.9500	−0.022%	$13.0M	$13.5M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.9450	−0.078%	$33.0M	$45.8M	75x	as long as short
BingX UNI-USDT	+0.0100%	8h	8.9380	−0.156%	—	$57.2M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	8.9843	+0.361%	$1.1M	$2.4M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	8.8719	−0.894%	$4.1M	$4.2M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.8793	−0.813%	$168K	$345K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.9630	+0.123%	$621K	$2.8M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.9610	+0.101%	$90K	$708K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.9840	+0.357%	$15K	$3.5M	20x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.9420	−0.112%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.9888	+0.411%	$36K	$1.4M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.9830	+0.346%	$32K	$865K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.9871	+0.392%	$722K	$5.0M	75x	as long as short
Phemex UNIUSDTshort	+0.0100%	8h	8.9780	+0.290%	$27.1M	$4.5M	50x
Extended UNI-USD	+0.0104%	1h	8.9487	−0.037%	$301K	$1.7M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.9500	−0.022%	$32K	—	3x	as long as short
Hyperliquid UNI	+0.0145%	1h	8.9586	+0.073%	$95.3M	$66.0M	10x	as long as short
dYdX UNI-USD	+0.0175%	1h	8.9482	−0.042%	$236K	$31K	10x	as long as short
Coinbase International UNI-PERP-INTX	+0.0184%	1h	8.9870	+0.391%	$947K	$5.8M	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.9610	+0.101%	$10.1M	$3.7M	75x	as long as short
Reya UNIRUSDPERP	+0.0377%	1h	8.9438	−0.092%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0243%	1h	8.9401	−0.133%	$636K	—	120x	as long as short
Aftermath Perps UNIUSD	+0.0478%	1h	8.9128	−0.438%	$1K	$54K	10x	as long as short