Funding arb · Price arb /

UNI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Nado against Orderly−0.149%7-day average −0.038% · you buy dearer than you sell

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

Long on Orderly Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)0.000%$0 on $10k

Price spread, last 3 days (all we have)−0.040%−$4 · spread now −0.149%, 7d avg −0.038%

Together, before fees−0.041%+ Points / potential airdropNado: Active · farm board−$4 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: Nado is 0.111% cheaper against Orderly than usual: you would sell low and buy high, −$11 on $10k if it goes back to its 7-day average of −0.038%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_UNI_USDC	9.0310	0.0100	pay 0.0100% / 8h	53m 36s	$16K	$1.7M	10x
Short	Nado UNI-PERP	9.0175	0.0100	get 0.0012% / 1h	53m 36s	$956K	$4.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Orderly. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 NadobpOrdersPrice spread, now −0.149%Rate

Funding earned: $0
Price spread: −0.149% → −0.038%: −$11.13
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$24.13
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Nado: live order book, 5 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 Nado live order book, 5 min ago	0.17 bp	4.2 bp −$4	12.2 bp −$122	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
Injective UNI/USDC PERP	−0.0049%	1h	8.8300	−2.226%	$660	$155K	12x	as long as short
Variational Omni UNI	−0.0010%	8h	9.0073	−0.263%	$4.0M	$4.4M	—	as long as short
dYdX UNI-USD	0.0000%	1h	9.0265	−0.050%	$250K	$6K	10x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0004%	1h	9.0294	−0.018%	$63K	—	150x	as long as short
Bybit UNIUSDT	+0.0042%	8h	9.0250	−0.066%	$103.0M	$103.7M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0074%	8h	9.0310	0.000%	$55.7M	$248.1M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	9.0230	−0.089%	$26K	—	20x	as long as short
Nado UNI-PERPshort	+0.0100%	1h	9.0175	−0.149%	$956K	$4.1M	10x
Aster UNIUSDT	+0.0100%	8h	9.0352	+0.047%	$1.1M	$3.3M	50x	as long as short
Pacifica UNI	+0.0100%	1h	9.0300	−0.011%	$301K	$586K	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	9.0290	−0.022%	$222.6M	$585.4M	75x	as long as short
Arcus UNI-USD	+0.0100%	1h	9.0380	+0.078%	$279K	$619K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	9.0300	−0.011%	$23.2M	$57.6M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	9.0290	−0.022%	$43.6M	$23.7M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	9.0270	−0.044%	$13.7M	$13.5M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	9.0270	−0.044%	$32.8M	$41.3M	75x	as long as short
BingX UNI-USDT	+0.0100%	8h	9.0310	0.000%	—	$51.7M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	9.0073	−0.263%	$169K	$342K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	9.0062	−0.275%	$627K	$2.5M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	9.0130	−0.199%	$89K	$712K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	9.0300	−0.011%	$108K	$3.2M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	9.0286	−0.027%	$88K	$355K	10x	as long as short
Orderly PERP_UNI_USDClong	+0.0100%	8h	9.0310	long leg	$16K	$1.7M	10x
SunX UNI-USDT	+0.0100%	8h	9.0371	+0.068%	$37K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	9.0350	+0.044%	$25K	$654K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	9.0332	+0.024%	$739K	$4.3M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	9.0340	+0.033%	$27.2M	$4.4M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	9.0243	−0.074%	$301K	$1.5M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	9.0338	+0.031%	$32K	$1K	3x	as long as short
Backpack UNI_USDC_PERP	+0.0167%	1h	9.0357	+0.052%	$1.0M	$2.3M	10x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0183%	1h	9.0381	+0.079%	$582K	$175K	50x	as long as short
01 Exchange UNIUSD	+0.0216%	1h	9.0281	−0.032%	$451	—	10x	as long as short
BloFin UNI-USDT	+0.0220%	8h	9.0360	+0.055%	$10.0M	$3.4M	75x	as long as short
Coinbase International UNI-PERP-INTX	+0.0232%	1h	9.0290	−0.022%	$1.1M	$5.4M	50x	as long as short
Reya UNIRUSDPERP	+0.0363%	1h	9.0195	−0.127%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0380% / S −0.0320%	1h	9.0277	−0.037%	$567K	—	120x	as long as short
Kraken Futures PF_UNIUSD	+0.0560%	1h	9.0390	+0.089%	$5.1M	$7.0M	50x	as long as short
Aftermath Perps UNIUSD	+0.0710%	1h	9.0010	−0.333%	$1K	$49K	10x	as long as short
Hyperliquid UNI	+0.0793%	1h	9.0427	+0.130%	$99.7M	$58.3M	10x	as long as short
Lighter UNI	+0.1048%	1h	9.0454	+0.159%	$4.6M	$5.1M	15x	as long as short