Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.018%

Price spread now: Phemex against OKX−0.154%7-day average +0.062% · you buy dearer than you sell

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs−$75as in the Price arb table

costs, in and out, $10k−$530.532% of the position

Long on OKX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.052%+$5 on $10k

Price spread, last 3 days (all we have)+0.302%+$30 · spread now −0.154%, 7d avg +0.062%

Together, before fees+0.354%+$35 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.215% cheaper against OKX than usual: you would sell low and buy high, −$22 on $10k if it goes back to its 7-day average of +0.062%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX UNI-USDT-SWAP	9.0940	0.0100	pay 0.0100% / 8h	6h 24m	$56.1M	$254.9M	50x
Short	Phemex UNIUSDT	9.0800	0.0100	get 0.0100% / 8h	6h 24m	$27.4M	$4.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.154%Rate

Funding earned: $0
Price spread: −0.154% → +0.062%: −$21.54
Slippage, 4 orders: −$31.22
Fee OKX: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$74.77
Costs to cover: 0.532%
Break-even: never at this rate

Slippage from OKX: live order book, 4 min ago; Phemex: live order book, 4 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, 4 min ago	0.55 bp	7.8 bp −$8	14.2 bp −$142	51.2 bp −$5,117	doesn't fit
Sell Phemex live order book, 4 min ago	6.64 bp	18.6 bp −$19	31.6 bp −$316	doesn't fit	doesn't fit

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
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0004%	1h	9.0887	−0.058%	$19K	—	150x	as long as short
dYdX UNI-USD	+0.0019%	1h	9.1104	+0.180%	$240K	$30K	10x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−2.903%	$660	$154K	12x	as long as short
01 Exchange UNIUSD	+0.0040%	1h	9.1049	+0.120%	$454	—	10x	as long as short
Nado UNI-PERP	+0.0100%	1h	9.0922	−0.019%	$951K	$4.3M	10x	as long as short
Hyperliquid UNI	+0.0100%	1h	9.1226	+0.315%	$99.0M	$60.3M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	9.1133	+0.212%	$1.0M	$2.9M	50x	as long as short
Pacifica UNI	+0.0100%	1h	9.1120	+0.198%	$298K	$574K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	9.1026	+0.094%	$227.3M	$610.6M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	9.0940	0.000%	$101.8M	$107.4M	75x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX UNI-USDT-SWAPlong	+0.0100%	8h	9.0940	long leg	$56.1M	$254.9M	50x
Arcus UNI-USD	+0.0100%	1h	9.1110	+0.187%	$289K	$641K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	9.0970	+0.033%	$23.2M	$58.7M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	9.1010	+0.077%	$50.0M	$26.2M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	9.1120	+0.198%	$13.5M	$13.7M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	9.0980	+0.044%	$33.3M	$42.8M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	9.0960	+0.022%	—	$6.5M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	9.0886	−0.059%	$997K	$2.4M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	9.0580	−0.396%	$4.1M	$4.3M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	9.0454	−0.534%	$170K	$343K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	9.0456	−0.532%	$629K	$2.6M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	9.0420	−0.572%	$88K	$699K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	9.0870	−0.077%	$56K	$3.3M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	9.0896	−0.048%	$86K	$410K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	9.0880	−0.066%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	9.0944	+0.004%	$37K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	9.0838	−0.112%	$22K	$712K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	9.0940	0.000%	$723K	$4.2M	75x	as long as short
Phemex UNIUSDTshort	+0.0100%	8h	9.0800	−0.154%	$27.4M	$4.5M	50x
Paradex UNI-USD-PERP	+0.0100%	8h	9.0971	+0.034%	$26K	—	20x	as long as short
Extended UNI-USD	+0.0104%	1h	9.0911	−0.032%	$303K	$1.5M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	9.0849	−0.100%	$32K	—	3x	as long as short
Coinbase International UNI-PERP-INTX	+0.0312%	1h	9.0930	−0.011%	$1.1M	$4.7M	50x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0316%	1h	9.0889	−0.056%	$590K	$187K	50x	as long as short
Reya UNIRUSDPERP	+0.0368%	1h	9.0828	−0.124%	$17K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0244%	1h	9.0875	−0.072%	$647K	—	120x	as long as short
Kraken Futures PF_UNIUSD	+0.0422%	1h	9.0879	−0.067%	$5.0M	$6.9M	50x	as long as short
Lighter UNI	+0.0456%	1h	9.1249	+0.340%	$4.7M	$5.3M	15x	as long as short
Aftermath Perps UNIUSD	+0.0945%	1h	9.0446	−0.544%	$902	$48K	10x	as long as short