Funding arb · Price arb /

UNI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0103%/8h= +11.3% APRpaid last 24h −0.002%

Price spread now: Deribit against Orderly+0.084%7-day average +0.054% · you sell dearer than you buy

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

Long on Orderly Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.110%−$11 on $10k

Price spread, last 4 days (all we have)−0.032%−$3 · spread now +0.084%, 7d avg +0.054%

Together, before fees−0.142%−$14 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 Deribit is 0.030% dearer against Orderly than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.054%. Mind the row above: over the last 7 days funding on this pair cost −0.110%, 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	9.0790	0.0100	pay 0.0100% / 8h	4h 02m	$16K	$1.5M	10x
Short	Deribit UNI_USDC-PERPETUAL	9.0866	0.0203	get 0.0025% / 1h	2m 51s	$582K	$207K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.084%Rate

Funding earned: $21.63
Price spread: +0.084% → +0.054%: $2.96
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $11.59
Costs to cover: 0.130%
Break-even: 3.2 days

Slippage unknown: Orderly: no order-book sample; Deribit: live order book, 56 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 Deribit live order book, 56 min ago	8.16 bp	13.2 bp −$13	40.9 bp −$409	doesn't fit	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
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0004%	1h	9.0815	+0.028%	$37K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−2.743%	$660	$154K	12x	as long as short
01 Exchange UNIUSD	+0.0056%	1h	9.0848	+0.064%	$453	$5	10x	as long as short
Nado UNI-PERP	+0.0100%	1h	9.0775	−0.017%	$965K	$4.4M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	9.0808	+0.019%	$817K	$3.5M	50x	as long as short
Pacifica UNI	+0.0100%	1h	9.0873	+0.091%	$294K	$600K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	9.0698	−0.101%	$222.7M	$639.2M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	9.0660	−0.143%	$101.9M	$111.2M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	9.0650	−0.154%	$55.2M	$261.9M	50x	as long as short
Arcus UNI-USD	+0.0100%	1h	9.0930	+0.154%	$315K	$650K	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	9.0730	−0.066%	$23.6M	$64.0M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	9.0740	−0.055%	$47.8M	$25.5M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	9.0740	−0.055%	$13.6M	$13.2M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	9.0660	−0.143%	$33.5M	$45.0M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	9.0690	−0.110%	—	$6.5M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	9.0849	+0.065%	$1.0M	$2.3M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	9.0449	−0.375%	$4.2M	$4.1M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	9.0520	−0.298%	$171K	$345K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	9.0530	−0.286%	$641K	$2.8M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	9.0580	−0.231%	$95K	$702K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	9.0670	−0.132%	$15K	$3.4M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	9.0814	+0.026%	$86K	$430K	10x	as long as short
Orderly PERP_UNI_USDClong	+0.0100%	8h	9.0790	long leg	$16K	$1.5M	10x
SunX UNI-USDT	+0.0100%	8h	9.0903	+0.124%	$37K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	9.0803	+0.014%	$22K	$792K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	9.0888	+0.108%	$726K	$4.7M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	9.0810	+0.022%	$27.5M	$4.4M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	9.0828	+0.042%	$26K	—	20x	as long as short
Extended UNI-USD	+0.0104%	1h	9.0682	−0.119%	$293K	$1.6M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	9.0820	+0.033%	$32K	—	3x	as long as short
dYdX UNI-USD	+0.0182%	1h	9.0873	+0.091%	$239K	$30K	10x	as long as short
Lighter UNI	+0.0200%	1h	9.0918	+0.141%	$4.6M	$5.9M	15x	as long as short
Deribit UNI_USDC-PERPETUALshort	+0.0203%	1h	9.0866	+0.084%	$582K	$207K	50x
BloFin UNI-USDT	+0.0220%	8h	9.0840	+0.055%	$10.3M	$3.6M	75x	as long as short
Coinbase International UNI-PERP-INTX	+0.0248%	1h	9.0890	+0.110%	$952K	$5.9M	50x	as long as short
Kraken Futures PF_UNIUSD	+0.0269%	1h	9.0861	+0.078%	$5.0M	$8.0M	50x	as long as short
Hyperliquid UNI	+0.0308%	1h	9.0890	+0.110%	$98.4M	$62.4M	10x	as long as short
Reya UNIRUSDPERP	+0.0373%	1h	9.0787	−0.003%	$17K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0244%	1h	9.0808	+0.020%	$647K	—	120x	as long as short
Aftermath Perps UNIUSD	+0.0918%	1h	9.0738	−0.057%	$875	$46K	10x	as long as short