Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Arcus against Phemex+0.090%7-day average +0.057% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$540.540% of the position

Long on Phemex Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.005%$0 on $10k

Price spread, last 4 days (all we have)−0.252%−$25 · spread now +0.090%, 7d avg +0.057%

Together, before fees−0.256%−$26 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: Arcus is 0.034% dearer against Phemex than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.057%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex UNIUSDT	8.8440	0.0100	pay 0.0100% / 8h	5h 58m	$26.7M	$4.5M	50x
Short	Arcus UNI-USD	8.8520	0.0100	get 0.0013% / 1h	58m 04s	$325K	$530K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Phemex. 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 PhemexbpFee ArcusbpOrdersPrice spread, now +0.090%Rate

Funding earned: $0
Price spread: +0.090% → +0.057%: $3.38
Slippage, 4 orders: −$37.48
Fee Phemex: 6 bp × 2 orders: −$12
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$50.6
Costs to cover: 0.540%
Break-even: never at this rate

Slippage from Phemex: live order book, 4 min ago; Arcus: live order book, 53 min ago.

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 Phemex live order book, 4 min ago	5.65 bp	13.7 bp −$14	25.5 bp −$255	doesn't fit	doesn't fit
Sell Arcus live order book, 53 min ago	6.26 bp	15.2 bp −$15	19.0 bp −$190	doesn't fit	doesn't fit

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	+0.0003%	1h	8.8471	+0.035%	$585K	$217K	50x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0005%	1h	8.8482	+0.047%	$76K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−0.158%	$660	$147K	12x	as long as short
01 Exchange UNIUSD	+0.0072%	1h	8.8473	+0.037%	$441	$56	10x	as long as short
Nado UNI-PERP	+0.0075%	1h	8.8417	−0.025%	$705K	$3.9M	10x	as long as short
Lighter UNI	+0.0096%	1h	8.8540	+0.113%	$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
Aster UNIUSDT	+0.0100%	8h	8.8466	+0.030%	$743K	$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	8.8407	−0.037%	$214.5M	$571.2M	75x	as long as short

Show all 40 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit UNIUSDT	+0.0100%	8h	8.8380	−0.068%	$97.9M	$97.6M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	8.8390	−0.057%	$54.7M	$229.2M	50x	as long as short
Arcus UNI-USDshort	+0.0100%	1h	8.8520	+0.090%	$325K	$530K	10x
Gate UNI_USDT	+0.0100%	8h	8.8410	−0.034%	$27.8M	$54.7M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.8440	0.000%	$46.2M	$20.4M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.8420	−0.023%	$12.9M	$11.2M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.8440	0.000%	$32.9M	$42.5M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	8.8410	−0.034%	—	$6.5M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	8.8485	+0.051%	$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	8.8450	+0.011%	$93K	$3.5M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.8405	−0.040%	$105K	$574K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.8400	−0.045%	$16K	$2.5M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.8520	+0.090%	$36K	$1.2M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.8396	−0.050%	$32K	$729K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.8526	+0.097%	$699K	$4.0M	75x	as long as short
Phemex UNIUSDTlong	+0.0100%	8h	8.8440	long leg	$26.7M	$4.5M	50x
Extended UNI-USD	+0.0104%	1h	8.8376	−0.073%	$299K	$1.7M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.8405	−0.040%	$31K	—	3x	as long as short
Kraken Futures PF_UNIUSD	+0.0131%	1h	8.8455	+0.016%	$4.7M	$7.7M	50x	as long as short
Hyperliquid UNI	+0.0157%	1h	8.8524	+0.095%	$95.3M	$61.6M	10x	as long as short
dYdX UNI-USD	+0.0185%	1h	8.8599	+0.179%	$232K	$32K	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	8.8540	+0.113%	$924K	$4.4M	50x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0244%	1h	8.8456	+0.019%	$629K	—	120x	as long as short
Reya UNIRUSDPERP	+0.0386%	1h	8.8390	−0.057%	$16K	—	20x	as long as short
Aftermath Perps UNIUSD	+0.0578%	1h	8.8508	+0.077%	$1K	$50K	10x	as long as short