Funding arb · Price arb /

UNI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0891%/8h= +97.6% APRpaid last 24h +0.221%

Price spread now: Aftermath Perps against Orderly−0.326%57s7-day average — · you buy dearer than you sell

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

Long on Orderly Short on Aftermath Perps

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Aftermath Perps is 0.326% cheaper against Orderly than usual: you would sell low and buy high (spread −0.326% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$33 on $10k: about 29 hours of funding at the current rate (+$27 a day). The two prices were read 57 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	Orderly PERP_UNI_USDC	9.2640	0.0100	pay 0.0100% / 8h	5h 17m	$17K	$1.7M	10x
Short	Aftermath Perps UNIUSD	9.2338	0.0991	get 0.0124% / 1h	17m 26s	$1K	$47K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aftermath Perps against Orderly. 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 OrderlybpFee Aftermath PerpsbpOrdersPrice spread, now −0.326%Rate

Funding earned: $187.14
Price spread: −0.326% → 0.000%: −$32.62
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Net: $139.52
Costs to cover: 0.150%
Break-even: 1.8 days

Slippage unknown: Orderly: no order-book sample; Aftermath Perps: 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 Orderly no order-book sample	—	—	—	—	—
Sell Aftermath Perps no order-book sample	—	—	—	—	—

Orderly and Aftermath Perps: 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 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
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0006%	1h	9.2627	−0.014%	$49K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−4.685%	$660	$154K	12x	as long as short
01 Exchange UNIUSD	+0.0056%	1h	9.2591	−0.053%	$462	$5	10x	as long as short
Nado UNI-PERP	+0.0100%	1h	9.2620	−0.022%	$965K	$4.3M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	9.2772	+0.142%	$1.1M	$2.9M	50x	as long as short
Pacifica UNI	+0.0100%	1h	9.2726	+0.093%	$302K	$573K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	9.2634	−0.006%	$230.3M	$618.1M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	9.2640	0.000%	$104.0M	$109.2M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	9.2610	−0.032%	$57.3M	$259.3M	50x	as long as short
Arcus UNI-USD	+0.0100%	1h	9.2760	+0.130%	$294K	$614K	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate UNI_USDT	+0.0100%	8h	9.2650	+0.011%	$23.3M	$61.2M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	9.2660	+0.022%	$49.6M	$25.3M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	9.2660	+0.022%	$13.9M	$12.9M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	9.2630	−0.011%	$33.9M	$43.2M	75x	as long as short
BingX UNI-USDT	+0.0100%	8h	9.2620	−0.022%	—	$56.5M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	9.2769	+0.139%	$1.0M	$2.3M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	9.1888	−0.812%	$4.3M	$4.2M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	9.2838	+0.214%	$175K	$345K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	9.2848	+0.225%	$645K	$2.6M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	9.1920	−0.777%	$90K	$693K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	9.2880	+0.259%	$45K	$3.3M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	9.2657	+0.018%	$89K	$417K	10x	as long as short
Orderly PERP_UNI_USDClong	+0.0100%	8h	9.2640	long leg	$17K	$1.7M	10x
SunX UNI-USDT	+0.0100%	8h	9.2647	+0.008%	$38K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	9.2640	0.000%	$22K	$770K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	9.2920	+0.302%	$724K	$4.4M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	9.2700	+0.065%	$28.0M	$4.5M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	9.2630	−0.011%	$26K	—	20x	as long as short
Extended UNI-USD	+0.0104%	1h	9.2596	−0.048%	$311K	$1.6M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	9.2623	−0.018%	$33K	—	3x	as long as short
dYdX UNI-USD	+0.0111%	1h	9.2712	+0.078%	$244K	$31K	10x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0115%	1h	9.2678	+0.041%	$594K	$193K	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	9.2830	+0.205%	$10.6M	$3.6M	75x	as long as short
Kraken Futures PF_UNIUSD	+0.0264%	1h	9.2768	+0.139%	$5.2M	$7.6M	50x	as long as short
Coinbase International UNI-PERP-INTX	+0.0296%	1h	9.2720	+0.086%	$1.1M	$5.4M	50x	as long as short
Reya UNIRUSDPERP	+0.0371%	1h	9.2596	−0.048%	$17K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0244%	1h	9.2692	+0.056%	$660K	—	120x	as long as short
Hyperliquid UNI	+0.0560%	1h	9.2790	+0.162%	$101.3M	$60.7M	10x	as long as short
Lighter UNI	+0.0568%	1h	9.2865	+0.243%	$4.7M	$5.7M	15x	as long as short
Aftermath Perps UNIUSDshort	+0.0991%	1h	9.2338	−0.326%	$1K	$47K	10x