Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.013%

Price spread now: Coinbase International against Orderly+0.045%7-day average +0.023% · you sell dearer than you buy

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

Long on Orderly Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.189%−$19 on $10k

Price spread, last 3 days (all we have)−0.194%−$19 · spread now +0.045%, 7d avg +0.023%

Together, before fees−0.383%−$38 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Coinbase International is 0.022% dearer against Orderly than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.023%. Mind the row above: over the last 7 days funding on this pair cost −0.189%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_UNI_USDC	8.8500	0.0100	pay 0.0100% / 8h	2h 36m	$16K	$1.7M	10x
Short	Coinbase International UNI-PERP-INTX	8.8540	0.0200	get 0.0025% / 1h	36m 38s	$1.0M	$5.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.045%Rate

Funding earned: $21
Price spread: +0.045% → +0.023%: $2.17
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $7.17
Costs to cover: 0.160%
Break-even: 4.6 days

Slippage unknown: Orderly: no order-book sample; Coinbase International: 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 Coinbase International live order book, 2 min ago	5.09 bp	16.2 bp −$16	20.9 bp −$209	53.8 bp −$5,383	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 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
Variational Omni UNI	−0.0193%	8h	8.8610	+0.125%	$3.9M	$4.6M	—	as long as short
Bybit UNIUSDT	−0.0162%	8h	8.8330	−0.192%	$102.1M	$104.4M	75x	as long as short
01 Exchange UNIUSD	−0.0008%	1h	8.8405	−0.107%	$441	—	10x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0006%	1h	8.8521	+0.024%	$80K	—	150x	as long as short
OKX UNI-USDT-SWAP	+0.0012%	8h	8.8350	−0.169%	$54.3M	$245.1M	50x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0024%	1h	8.8585	+0.096%	$553K	$125K	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.8283	−0.245%	$25K	—	20x	as long as short
Nado UNI-PERP	+0.0100%	1h	8.8395	−0.119%	$857K	$3.9M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.8368	−0.149%	$1.0M	$3.4M	50x	as long as short
Pacifica UNI	+0.0100%	1h	8.8330	−0.192%	$295K	$561K	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	8.8360	−0.158%	$216.2M	$593.5M	75x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.8390	−0.124%	$272K	$612K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.8310	−0.215%	$22.9M	$59.0M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.8320	−0.203%	$42.7M	$24.5M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.8300	−0.226%	$13.8M	$13.7M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.8270	−0.260%	$31.9M	$41.0M	75x	as long as short
BingX UNI-USDT	+0.0100%	8h	8.8300	−0.226%	—	$49.8M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	8.8533	+0.037%	$983K	$2.3M	10x	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.8350	−0.170%	$166K	$342K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.8604	+0.118%	$625K	$2.6M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.8660	+0.181%	$84K	$711K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.8300	−0.226%	$105K	$3.2M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.8501	+0.001%	$87K	$323K	10x	as long as short
Orderly PERP_UNI_USDClong	+0.0100%	8h	8.8500	long leg	$16K	$1.7M	10x
SunX UNI-USDT	+0.0100%	8h	8.8445	−0.062%	$36K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.8478	−0.025%	$25K	$661K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.8600	+0.113%	$723K	$4.3M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.8510	+0.011%	$26.7M	$4.3M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	8.8276	−0.253%	$298K	$1.4M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.8531	+0.035%	$31K	$1K	3x	as long as short
dYdX UNI-USD	+0.0113%	1h	8.8356	−0.162%	$245K	$5K	10x	as long as short
Coinbase International UNI-PERP-INTXshort	+0.0200%	1h	8.8540	+0.045%	$1.0M	$5.3M	50x
BloFin UNI-USDT	+0.0220%	8h	8.8520	+0.023%	$9.8M	$3.3M	75x	as long as short
Kraken Futures PF_UNIUSD	+0.0269%	1h	8.8549	+0.056%	$4.9M	$7.1M	50x	as long as short
Hyperliquid UNI	+0.0332%	1h	8.8473	−0.031%	$96.2M	$59.8M	10x	as long as short
Reya UNIRUSDPERP	+0.0360%	1h	8.8460	−0.046%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0379% / S −0.0320%	1h	8.8500	0.000%	$555K	—	120x	as long as short
Aftermath Perps UNIUSD	+0.0460%	1h	8.8472	−0.032%	$1K	$50K	10x	as long as short
Lighter UNI	+0.0528%	1h	8.8490	−0.011%	$4.5M	$5.4M	15x	as long as short
Injective UNI/USDC PERP	+0.2702%	1h	8.7900	−0.678%	$657	$97K	12x	as long as short