Funding arb · Price arb /

UNI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0021%/8h= +2.3% APRpaid last 24h +0.035%

Price spread now: dYdX against Orderly−0.381%7-day average +0.013% · you buy dearer than you sell

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

Long on Orderly Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.207%+$21 on $10k

Price spread, last 4 days (all we have)+0.105%+$11 · spread now −0.381%, 7d avg +0.013%

Together, before fees+0.312%+$31 on $10k · with fees, hour by hour

Funding pays, the price is against you. dYdX is 0.394% cheaper against Orderly than usual: you would sell low and buy high (spread −0.381% now, against its 7-day average of +0.013%). If the spread goes back, that is −$39 on $10k: about 2 months of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.207% in total) that is about 13 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_UNI_USDC	9.0950	0.0100	pay 0.0100% / 8h	4h 47m	$16K	$1.6M	10x
Short	dYdX UNI-USD	9.0604	0.0121	get 0.0015% / 1h	47m 19s	$239K	$30K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now −0.381%Rate

Funding earned: $4.41
Price spread: −0.381% → +0.013%: −$39.38
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$50.97
Costs to cover: 0.160%
Break-even: 87.9 days

Slippage unknown: Orderly: no order-book sample; dYdX: live order book, 12 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 dYdX live order book, 12 min ago	31.23 bp	206.9 bp −$207	209.7 bp −$2,097	217.5 bp −$21.8K	478.8 bp −$239.4K

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	9.0935	−0.016%	$37K	—	150x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0010%	1h	9.0669	−0.309%	$581K	$193K	50x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−2.914%	$660	$154K	12x	as long as short
01 Exchange UNIUSD	+0.0048%	1h	9.0837	−0.124%	$453	$5	10x	as long as short
Nado UNI-PERP	+0.0100%	1h	9.0800	−0.165%	$923K	$4.3M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	9.0818	−0.145%	$1.0M	$3.0M	50x	as long as short
Pacifica UNI	+0.0100%	1h	9.0620	−0.363%	$294K	$590K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	9.0946	−0.005%	$225.2M	$629.9M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	9.0900	−0.055%	$101.9M	$110.7M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	9.0890	−0.066%	$55.7M	$258.2M	50x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus UNI-USD	+0.0100%	1h	9.0670	−0.308%	$287K	$613K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	9.0930	−0.022%	$23.6M	$62.7M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	9.0910	−0.044%	$48.5M	$25.2M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	9.0760	−0.209%	$13.6M	$13.1M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	9.0920	−0.033%	$33.6M	$44.2M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	9.0910	−0.044%	—	$6.5M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	9.0673	−0.305%	$1.0M	$2.3M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	9.0589	−0.397%	$4.3M	$4.3M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	9.0557	−0.432%	$171K	$345K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	9.0473	−0.524%	$627K	$2.7M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	9.0570	−0.418%	$88K	$694K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	9.0790	−0.176%	$36K	$3.3M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	9.0880	−0.077%	$88K	$422K	10x	as long as short
Orderly PERP_UNI_USDClong	+0.0100%	8h	9.0950	long leg	$16K	$1.6M	10x
SunX UNI-USDT	+0.0100%	8h	9.0707	−0.267%	$37K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	9.0560	−0.429%	$22K	$782K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	9.0760	−0.209%	$714K	$4.5M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	9.0640	−0.341%	$27.4M	$4.5M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	9.0584	−0.403%	$26K	—	20x	as long as short
Extended UNI-USD	+0.0104%	1h	9.0681	−0.296%	$297K	$1.6M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	9.0945	−0.005%	$32K	—	3x	as long as short
dYdX UNI-USDshort	+0.0121%	1h	9.0604	−0.381%	$239K	$30K	10x
BloFin UNI-USDT	+0.0220%	8h	9.0280	−0.737%	$10.3M	$3.5M	75x	as long as short
Lighter UNI	+0.0232%	1h	9.0682	−0.295%	$4.6M	$5.8M	15x	as long as short
Coinbase International UNI-PERP-INTX	+0.0248%	1h	9.0760	−0.209%	$1.1M	$5.5M	50x	as long as short
Kraken Futures PF_UNIUSD	+0.0270%	1h	9.0603	−0.381%	$5.0M	$7.8M	50x	as long as short
Reya UNIRUSDPERP	+0.0372%	1h	9.0852	−0.108%	$17K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0244%	1h	9.0955	+0.006%	$647K	—	120x	as long as short
Hyperliquid UNI	+0.0435%	1h	9.0975	+0.027%	$98.8M	$61.8M	10x	as long as short
Aftermath Perps UNIUSD	+0.1063%	1h	9.0946	−0.005%	$874	$46K	10x	as long as short