Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0117%/8h= −12.8% APRpaid last 24h +0.059%

Price spread now: Kraken Futures against OKX−0.003%7-day average +0.090% · you buy dearer than you sell

Net, funding: paid 7d − costs−$12as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$380.383% of the position

Long on OKX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.260%+$26 on $10k

Price spread, last 4 days (all we have)+0.300%+$30 · spread now −0.003%, 7d avg +0.090%

Together, before fees+0.561%+$56 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Kraken Futures is 0.093% cheaper against OKX than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of +0.090%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.260%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX UNI-USDT-SWAP	8.9130	0.0100	pay 0.0100% / 8h	2h 35m	$54.0M	$264.7M	50x
Short	Kraken Futures PF_UNIUSD	8.9127	−0.0017	pay 0.0002% / 1h	35m 54s	$4.8M	$8.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.003%Rate

Funding earned: −$24.53
Price spread: −0.003% → +0.090%: −$9.28
Slippage, 4 orders: −$18.3
Fee OKX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$72.11
Costs to cover: 0.383%
Break-even: never at this rate

Slippage from OKX: live order book, 3 min ago; Kraken Futures: live order book, 3 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, 3 min ago	0.56 bp	7.5 bp −$8	13.9 bp −$139	50.8 bp −$5,083	doesn't fit
Sell Kraken Futures live order book, 3 min ago	1.69 bp	15.5 bp −$16	18.7 bp −$187	54.2 bp −$5,417	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-PERP	−0.0135%	1h	8.9080	−0.056%	$831K	$4.7M	10x	as long as short
01 Exchange UNIUSD	−0.0064%	1h	8.9105	−0.028%	$445	$5	10x	as long as short
Kraken Futures PF_UNIUSDshort	−0.0017%	1h	8.9127	−0.003%	$4.8M	$8.5M	50x
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0007%	1h	8.9047	−0.093%	$49K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−0.931%	$660	$153K	12x	as long as short
Polymarket Perps UNI-USD	+0.0087%	1h	8.9030	−0.112%	$99K	$508K	10x	as long as short
Lighter UNI	+0.0096%	1h	8.9171	+0.046%	$4.5M	$5.5M	15x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.9063	−0.076%	$25K	—	20x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.9117	−0.015%	$755K	$3.6M	50x	as long as short
Pacifica UNI	+0.0100%	1h	8.9111	−0.021%	$285K	$612K	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	8.9100	−0.034%	$216.5M	$659.0M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	8.9100	−0.034%	$99.5M	$112.4M	75x	as long as short
OKX UNI-USDT-SWAPlong	+0.0100%	8h	8.9130	long leg	$54.0M	$264.7M	50x
Arcus UNI-USD	+0.0100%	1h	8.9150	+0.022%	$318K	$700K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.9080	−0.056%	$24.1M	$65.2M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.9190	+0.067%	$46.8M	$26.4M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.9190	+0.067%	$13.1M	$13.5M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.9130	0.000%	$32.8M	$46.5M	75x	as long as short
BingX UNI-USDT	+0.0100%	8h	8.9060	−0.079%	—	$57.1M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	8.9139	+0.010%	$1.0M	$2.4M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	8.8991	−0.156%	$4.1M	$4.2M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.8330	−0.898%	$167K	$345K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.8517	−0.688%	$617K	$2.7M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.8320	−0.909%	$90K	$706K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.8880	−0.280%	$15K	$3.4M	20x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.9020	−0.123%	$16K	$1.6M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.9077	−0.059%	$36K	$1.4M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.9030	−0.112%	$26K	$854K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.9106	−0.027%	$711K	$5.0M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.9100	−0.034%	$27.0M	$4.3M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	8.9112	−0.020%	$286K	$1.7M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.9045	−0.096%	$32K	—	3x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0123%	1h	8.9091	−0.044%	$571K	$203K	50x	as long as short
Hyperliquid UNI	+0.0145%	1h	8.9169	+0.044%	$94.9M	$66.4M	10x	as long as short
dYdX UNI-USD	+0.0156%	1h	8.9076	−0.061%	$235K	$31K	10x	as long as short
Coinbase International UNI-PERP-INTX	+0.0184%	1h	8.9150	+0.022%	$932K	$5.8M	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.8910	−0.247%	$10.1M	$3.6M	75x	as long as short
Reya UNIRUSDPERP	+0.0376%	1h	8.8993	−0.153%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0244%	1h	8.9038	−0.103%	$634K	—	120x	as long as short
Aftermath Perps UNIUSD	+0.0629%	1h	8.8783	−0.389%	$952	$45K	10x	as long as short