Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0144%/8h= +15.7% APRpaid last 24h +0.108%

Price spread now: GMX against Orderly+0.019%7-day average +0.025% · you sell dearer than you buy

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

Long on Orderly Short on GMX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.096%+$10 on $10k

Price spread, last 4 days (all we have)−0.266%−$27 · spread now +0.019%, 7d avg +0.025%

Together, before fees−0.170%−$17 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.025%, so right now this pair is about funding alone: +$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_UNI_USDC	8.8440	0.0100	pay 0.0100% / 8h	5h 58m	$16K	$2.5M	10x
Short	GMX UNI/USD [UNI-USDC]	8.8456	L +0.0381% / S −0.0244%	get 0.0030% / 1h	58m 48s	$629K	—	120x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now +0.019%Rate

Funding earned: $30.16
Price spread: +0.019% → +0.025%: −$0.6
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee GMX: 6 bp × 2 orders: −$12
Net: $11.56
Costs to cover: 0.180%
Break-even: 4.3 days

Slippage unknown: Orderly: no order-book sample; GMX: 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 GMX no order-book sample	—	—	—	—	—

Orderly and GMX: 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 exchanges

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
Deribit UNI_USDC-PERPETUAL	0.0000%	1h	8.8496	+0.063%	$585K	$219K	50x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0005%	1h	8.8472	+0.036%	$76K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−0.158%	$660	$147K	12x	as long as short
Lighter UNI	+0.0096%	1h	8.8597	+0.178%	$4.4M	$4.8M	15x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.8397	−0.049%	$25K	—	20x	as long as short
Nado UNI-PERP	+0.0100%	1h	8.8485	+0.051%	$705K	$4.0M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.8504	+0.073%	$744K	$2.4M	50x	as long as short
Pacifica UNI	+0.0100%	1h	8.8471	+0.035%	$288K	$467K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	8.8450	+0.011%	$214.6M	$573.5M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	8.8400	−0.045%	$97.8M	$97.6M	75x	as long as short

Show all 40 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX UNI-USDT-SWAP	+0.0100%	8h	8.8420	−0.023%	$54.8M	$229.3M	50x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.8590	+0.170%	$325K	$530K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.8470	+0.034%	$27.8M	$54.7M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.8420	−0.023%	$46.2M	$20.4M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.8450	+0.011%	$12.9M	$11.2M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.8460	+0.023%	$33.0M	$42.5M	75x	as long as short
BingX UNI-USDT	+0.0100%	8h	8.8450	+0.011%	—	$50.3M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	8.8488	+0.054%	$1.1M	$2.3M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	8.8404	−0.040%	$4.1M	$2.7M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.8416	−0.027%	$167K	$347K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.8488	+0.054%	$616K	$2.3M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.8470	+0.034%	$89K	$712K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.8610	+0.192%	$94K	$3.5M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.8412	−0.032%	$105K	$581K	10x	as long as short
Orderly PERP_UNI_USDClong	+0.0100%	8h	8.8440	long leg	$16K	$2.5M	10x
SunX UNI-USDT	+0.0100%	8h	8.8510	+0.079%	$36K	$1.2M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.8435	−0.006%	$32K	$730K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.8536	+0.109%	$699K	$4.0M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.8470	+0.034%	$26.7M	$4.5M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	8.8433	−0.008%	$299K	$1.7M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.8445	+0.006%	$31K	—	3x	as long as short
Kraken Futures PF_UNIUSD	+0.0131%	1h	8.8498	+0.065%	$4.7M	$7.7M	50x	as long as short
01 Exchange UNIUSD	+0.0144%	1h	8.8470	+0.034%	$441	$56	10x	as long as short
dYdX UNI-USD	+0.0185%	1h	8.8599	+0.179%	$232K	$32K	10x	as long as short
Hyperliquid UNI	+0.0194%	1h	8.8582	+0.161%	$95.3M	$61.6M	10x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.8440	0.000%	$10.0M	$3.3M	75x	as long as short
Coinbase International UNI-PERP-INTX	+0.0240%	1h	8.8710	+0.305%	$926K	$4.4M	50x	as long as short
GMX UNI/USD [UNI-USDC]short	L +0.0381% / S −0.0244%	1h	8.8456	+0.019%	$629K	—	120x
Reya UNIRUSDPERP	+0.0386%	1h	8.8410	−0.034%	$16K	—	20x	as long as short
Aftermath Perps UNIUSD	+0.0578%	1h	8.8492	+0.059%	$1K	$50K	10x	as long as short