Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h +0.187%

Price spread now: Injective against OKX−2.215%48s7-day average +0.231% · you buy dearer than you sell

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

Long on OKX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.458%−$46 on $10k

Price spread, last 3 days (all we have)+2.392%+$239 · spread now −2.215%, 7d avg +0.231%

Together, before fees+1.934%+$193 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 2.446% cheaper against OKX than usual: you would sell low and buy high (−$245 if the spread goes back to its 7-day average of +0.231%). Swap the legs. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX UNI-USDT-SWAP	9.0300	0.0100	pay 0.0100% / 8h	6h 28m	$55.7M	$253.6M	50x
Short	Injective UNI/USDC PERP	8.8300	0.0033	get 0.0004% / 1h	28m 33s	$660	$154K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −2.215%Rate

Funding earned: −$14
Price spread: −2.215% → +0.231%: −$244.6
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$268.62
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 5 min ago; Injective: 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 OKX live order book, 5 min ago	0.56 bp	7.5 bp −$7	14.5 bp −$145	61.2 bp −$6,117	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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 39 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
Deribit UNI_USDC-PERPETUAL	0.0000%	1h	9.0264	−0.040%	$586K	$200K	50x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0004%	1h	9.0267	−0.036%	$19K	—	150x	as long as short
dYdX UNI-USD	+0.0021%	1h	9.0304	+0.004%	$238K	$30K	10x	as long as short
01 Exchange UNIUSD	+0.0032%	1h	9.0322	+0.024%	$451	—	10x	as long as short
Injective UNI/USDC PERPshort	+0.0033%	1h	8.8300	−2.215%	$660	$154K	12x
Nado UNI-PERP	+0.0100%	1h	9.0295	−0.006%	$942K	$4.3M	10x	as long as short
Hyperliquid UNI	+0.0100%	1h	9.0352	+0.058%	$98.1M	$60.2M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	9.0340	+0.045%	$1.0M	$2.9M	50x	as long as short
Pacifica UNI	+0.0100%	1h	9.0336	+0.039%	$296K	$574K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	9.0298	−0.002%	$225.3M	$611.0M	75x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit UNIUSDT	+0.0100%	8h	9.0300	0.000%	$101.0M	$107.5M	75x	as long as short
OKX UNI-USDT-SWAPlong	+0.0100%	8h	9.0300	long leg	$55.7M	$253.6M	50x
Arcus UNI-USD	+0.0100%	1h	9.0420	+0.133%	$286K	$641K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	9.0330	+0.033%	$23.1M	$58.6M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	9.0350	+0.055%	$49.5M	$26.1M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	9.0270	−0.033%	$13.4M	$13.7M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	9.0320	+0.022%	$33.1M	$42.8M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	9.0350	+0.055%	—	$6.5M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	9.0241	−0.065%	$990K	$2.4M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	9.0181	−0.132%	$4.1M	$4.3M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	9.0270	−0.033%	$170K	$346K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.9959	−0.378%	$630K	$2.6M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	9.0300	0.000%	$88K	$699K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	9.0400	+0.111%	$56K	$3.3M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	9.0372	+0.080%	$86K	$410K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	9.0230	−0.078%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	9.0334	+0.038%	$37K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	9.0220	−0.089%	$22K	$710K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	9.0400	+0.111%	$718K	$4.2M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	9.0230	−0.078%	$27.2M	$4.5M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	9.0322	+0.025%	$26K	—	20x	as long as short
Extended UNI-USD	+0.0104%	1h	9.0301	+0.001%	$300K	$1.5M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	9.0246	−0.060%	$32K	—	3x	as long as short
Coinbase International UNI-PERP-INTX	+0.0312%	1h	9.0250	−0.055%	$1.1M	$4.7M	50x	as long as short
Reya UNIRUSDPERP	+0.0368%	1h	9.0313	+0.014%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0244%	1h	9.0274	−0.029%	$644K	—	120x	as long as short
Lighter UNI	+0.0400%	1h	9.0417	+0.130%	$4.6M	$5.3M	15x	as long as short
Kraken Futures PF_UNIUSD	+0.0425%	1h	9.0212	−0.098%	$5.0M	$6.9M	50x	as long as short
Aftermath Perps UNIUSD	+0.0940%	1h	9.0194	−0.117%	$1K	$48K	10x	as long as short