Funding arb · Price arb /

UNI

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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 −0.026%

Price spread now: Bybit against Orderly−0.011%7-day average −0.062% · you buy dearer than you sell

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

Long on Orderly Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.096%−$10 on $10k

Price spread, last 3 days (all we have)−0.201%−$20 · spread now −0.011%, 7d avg −0.062%

Together, before fees−0.297%−$30 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: Bybit is 0.051% dearer against Orderly than usual: you sell high and buy low, +$5 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	Orderly PERP_UNI_USDC	9.0270	0.0100	pay 0.0100% / 8h	6h 32m	$16K	$1.7M	10x
Short	Bybit UNIUSDT	9.0260	0.0100	get 0.0100% / 8h	6h 32m	$101.0M	$107.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.011%Rate

Funding earned: $0
Price spread: −0.011% → −0.062%: $5.08
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$11.92
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Bybit: live order book, 2 min ago. 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 Bybit live order book, 2 min ago	0.56 bp	9.7 bp −$10	17.9 bp −$179	38.2 bp −$3,822	doesn't fit

Orderly: 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
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0004%	1h	9.0297	+0.030%	$19K	—	150x	as long as short
01 Exchange UNIUSD	+0.0024%	1h	9.0310	+0.044%	$451	—	10x	as long as short
dYdX UNI-USD	+0.0024%	1h	9.0226	−0.049%	$238K	$30K	10x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−2.182%	$660	$154K	12x	as long as short
Nado UNI-PERP	+0.0100%	1h	9.0300	+0.033%	$932K	$4.3M	10x	as long as short
Hyperliquid UNI	+0.0100%	1h	9.0401	+0.145%	$98.1M	$60.0M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	9.0289	+0.021%	$1.0M	$2.9M	50x	as long as short
Pacifica UNI	+0.0100%	1h	9.0231	−0.043%	$295K	$580K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	9.0310	+0.044%	$225.3M	$612.5M	75x	as long as short
Bybit UNIUSDTshort	+0.0100%	8h	9.0260	−0.011%	$101.0M	$107.6M	75x

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX UNI-USDT-SWAP	+0.0100%	8h	9.0200	−0.078%	$55.7M	$254.1M	50x	as long as short
Arcus UNI-USD	+0.0100%	1h	9.0290	+0.022%	$286K	$633K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	9.0270	0.000%	$23.1M	$58.4M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	9.0250	−0.022%	$49.5M	$26.1M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	9.0320	+0.055%	$13.4M	$13.8M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	9.0180	−0.100%	$33.0M	$42.9M	75x	as long as short
BingX UNI-USDT	+0.0100%	8h	9.0260	−0.011%	—	$57.3M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	8.9889	−0.422%	$983K	$2.4M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	8.9961	−0.342%	$4.1M	$4.3M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.9955	−0.349%	$169K	$345K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	9.0031	−0.264%	$631K	$2.6M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	9.0020	−0.277%	$88K	$706K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.9840	−0.476%	$55K	$3.3M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	9.0352	+0.091%	$86K	$410K	10x	as long as short
Orderly PERP_UNI_USDClong	+0.0100%	8h	9.0270	long leg	$16K	$1.7M	10x
SunX UNI-USDT	+0.0100%	8h	9.0320	+0.055%	$37K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	9.0232	−0.042%	$22K	$715K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.9890	−0.421%	$714K	$4.2M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.9910	−0.399%	$27.1M	$4.5M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	9.0192	−0.086%	$26K	—	20x	as long as short
Extended UNI-USD	+0.0104%	1h	9.0192	−0.086%	$300K	$1.5M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	9.0284	+0.016%	$32K	—	3x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0256%	1h	9.0315	+0.050%	$586K	$201K	50x	as long as short
Coinbase International UNI-PERP-INTX	+0.0312%	1h	9.0390	+0.133%	$1.1M	$4.7M	50x	as long as short
Reya UNIRUSDPERP	+0.0368%	1h	9.0288	+0.020%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0244%	1h	9.0286	+0.017%	$643K	—	120x	as long as short
Lighter UNI	+0.0408%	1h	9.0391	+0.134%	$4.6M	$5.3M	15x	as long as short
Kraken Futures PF_UNIUSD	+0.0425%	1h	9.0276	+0.006%	$5.0M	$6.9M	50x	as long as short
Aftermath Perps UNIUSD	+0.0954%	1h	8.9954	−0.351%	$1K	$48K	10x	as long as short