Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h +0.019%

Price spread now: Deribit against OKX+0.039%7-day average +0.082% · you sell dearer than you buy

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$430.432% of the position

Long on OKX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.002%$0 on $10k

Price spread, last 4 days (all we have)+0.162%+$16 · spread now +0.039%, 7d avg +0.082%

Together, before fees+0.164%+$16 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 0.043% cheaper against OKX than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.082%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX UNI-USDT-SWAP	8.9000	0.0100	pay 0.0100% / 8h	43m 16s	$54.3M	$265.2M	50x
Short	Deribit UNI_USDC-PERPETUAL	8.9035	0	get 0.0000% / 1h	43m 16s	$587K	$250K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against OKX. 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 OKXbpFee DeribitbpOrdersPrice spread, now +0.039%Rate

Funding earned: −$21
Price spread: +0.039% → +0.082%: −$4.25
Slippage, 4 orders: −$26.16
Fee OKX: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$68.42
Costs to cover: 0.432%
Break-even: never at this rate

Slippage from OKX: live order book, 6 min ago; Deribit: live order book, 61 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 OKX live order book, 6 min ago	0.56 bp	7.7 bp −$8	16.1 bp −$161	58.1 bp −$5,807	doesn't fit
Sell Deribit live order book, 61 min ago	9.40 bp	13.5 bp −$13	21.8 bp −$218	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
Kraken Futures PF_UNIUSD	−0.0305%	1h	8.9023	+0.026%	$4.7M	$8.6M	50x	as long as short
01 Exchange UNIUSD	−0.0024%	1h	8.9136	+0.153%	$445	$5	10x	as long as short
Deribit UNI_USDC-PERPETUALshort	0.0000%	1h	8.9035	+0.039%	$587K	$250K	50x
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0007%	1h	8.9048	+0.054%	$49K	—	150x	as long as short
Nado UNI-PERP	+0.0012%	1h	8.9050	+0.056%	$731K	$4.7M	10x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−0.787%	$660	$153K	12x	as long as short
Polymarket Perps UNI-USD	+0.0075%	1h	8.9074	+0.083%	$106K	$616K	10x	as long as short
Lighter UNI	+0.0096%	1h	8.9119	+0.134%	$4.5M	$5.5M	15x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.9080	+0.089%	$25K	—	20x	as long as short
Hyperliquid UNI	+0.0100%	1h	8.9198	+0.222%	$94.9M	$67.6M	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster UNIUSDT	+0.0100%	8h	8.9039	+0.044%	$729K	$3.6M	50x	as long as short
Pacifica UNI	+0.0100%	1h	8.9111	+0.125%	$288K	$600K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	8.9020	+0.022%	$215.1M	$656.8M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	8.8990	−0.011%	$98.6M	$111.2M	75x	as long as short
OKX UNI-USDT-SWAPlong	+0.0100%	8h	8.9000	long leg	$54.3M	$265.2M	50x
Arcus UNI-USD	+0.0100%	1h	8.9180	+0.202%	$318K	$701K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.9070	+0.079%	$25.5M	$65.8M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.9030	+0.034%	$48.6M	$26.1M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.9100	+0.112%	$13.1M	$13.3M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.8980	−0.022%	$32.6M	$45.4M	75x	as long as short
BingX UNI-USDT	+0.0100%	8h	8.9060	+0.067%	—	$57.0M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	8.9107	+0.120%	$1.1M	$2.4M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	8.9138	+0.155%	$4.1M	$4.3M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.9176	+0.198%	$169K	$348K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.9002	+0.002%	$617K	$2.6M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.9060	+0.067%	$89K	$710K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.9080	+0.090%	$15K	$3.4M	20x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.9000	0.000%	$16K	$2.1M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.9132	+0.148%	$36K	$1.4M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.8980	−0.022%	$32K	$888K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.9144	+0.162%	$698K	$4.8M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.9000	0.000%	$26.9M	$4.5M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	8.8926	−0.083%	$288K	$1.7M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.8974	−0.029%	$32K	—	3x	as long as short
Coinbase International UNI-PERP-INTX	+0.0200%	1h	8.9060	+0.067%	$927K	$5.5M	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.8980	−0.022%	$10.0M	$3.6M	75x	as long as short
Reya UNIRUSDPERP	+0.0380%	1h	8.9051	+0.058%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0243%	1h	8.9087	+0.098%	$634K	—	120x	as long as short
Aftermath Perps UNIUSD	+0.0448%	1h	8.9070	+0.079%	$950	$53K	10x	as long as short
dYdX UNI-USD	+0.0604%	1h	8.9072	+0.081%	$234K	$30K	10x	as long as short