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Funding arb · Price arb /

UNI

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.003%
Price spread now: Backpack against Phemex+0.090%7-day average +0.013% · you sell dearer than you buy
Net, funding: paid 7d − costs−$48as in the Funding arb table
Net, price: spread back to 7d avg − costs−$44as in the Price arb table
costs, in and out, $10k−$510.514% of the position
Long on PhemexShort on Backpack
What this pair did over the last
the charts below follow
Funding, last 7 days+0.035%+$3 on $10k
Price spread, last 3 days (all we have)−0.245%−$24 · spread now +0.090%, 7d avg +0.013%
Together, before fees−0.210%−$21 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: Backpack is 0.078% dearer against Phemex than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of +0.013%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhemex UNIUSDT8.96100.0100pay 0.0100% / 8h10m 06s$27.0M$4.5M50x
ShortBackpack UNI_USDC_PERP8.96910.0100get 0.0013% / 1h10m 06s$1.1M$2.4M10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Backpack against Phemex. 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

Funding earned
$0
Price spread: +0.090% → +0.013%
$7.77
Slippage, 4 orders
−$29.41
Fee Phemex: 6 bp × 2 orders
−$12
Fee Backpack: 5 bp × 2 orders
−$10
Net
−$43.65
Costs to cover
0.514%
Break-even
never at this rate
Slippage from Phemex: live order book, 4 min ago; Backpack: live order book, 4 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Phemex live order book, 4 min ago7.79 bp17.2 bp −$1727.7 bp −$277doesn't fitdoesn't fit
Sell Backpack live order book, 4 min ago0.39 bp9.5 bp −$10122.3 bp −$1,223doesn't fitdoesn't fit

UNI on 40 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Injective UNI/USDC PERP−0.0049%1h8.8300−1.462%$660$155K12xas long as short
gTrade (Gains Network) UNI/USDL +0.0004% / S −0.0004%1h8.9645+0.039%$62K—150xas long as short
Variational Omni UNI+0.0082%8h8.9422−0.210%$4.1M$4.4M—as long as short
Deribit UNI_USDC-PERPETUAL+0.0086%1h8.9685+0.083%$577K$177K50xas long as short
OKX UNI-USDT-SWAP+0.0086%8h8.96100.000%$54.8M$249.0M50xas long as short
Nado UNI-PERP+0.0100%1h8.9642+0.036%$956K$4.2M10xas long as short
Aster UNIUSDT+0.0100%8h8.9634+0.027%$1.0M$3.3M50xas long as short
Pacifica UNI+0.0100%1h8.9644+0.037%$297K$591K10xas long as short
Binance UNIUSDT+0.0100%8h8.9643+0.037%$221.9M$591.3M75xas long as short
Bybit UNIUSDT+0.0100%8h8.9600−0.011%$101.4M$105.3M75xas long as short
Show all 40 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Arcus UNI-USD+0.0100%1h8.9820+0.234%$270K$614K10xas long as short
Gate UNI_USDT+0.0100%8h8.9630+0.022%$22.8M$59.2M75xas long as short
MEXC UNI_USDT+0.0100%8h8.9630+0.022%$43.7M$24.1M200xas long as short
KuCoin UNIUSDTM+0.0100%8h8.9640+0.033%$13.6M$13.5M75xas long as short
Bitget UNIUSDT+0.0100%8h8.9600−0.011%$32.7M$42.0M75xas long as short
BingX UNI-USDC+0.0100%8h8.96100.000%—$6.5M—as long as short
Backpack UNI_USDC_PERPshort+0.0100%1h8.9691+0.090%$1.1M$2.4M10x
edgeX UNIUSDC+0.0100%4h8.9828+0.243%$169K$342K20xas long as short
GRVT UNI_USDT_Perp+0.0100%8h8.9580−0.034%$630K$2.5M10xas long as short
ApeX Omni UNIUSDT+0.0100%1h8.9890+0.312%$88K$710K50xas long as short
StandX UNI-USD+0.0100%1h8.9520−0.100%$36K$3.3M20xas long as short
Polymarket Perps UNI-USD+0.0100%1h8.9742+0.147%$85K$366K10xas long as short
Orderly PERP_UNI_USDC+0.0100%8h8.9630+0.022%$16K$1.7M10xas long as short
SunX UNI-USDT+0.0100%8h8.9780+0.190%$36K$1.3M30xas long as short
SoDEX UNI-USD+0.0100%1h8.9633+0.026%$21K$676K10xas long as short
HTX UNI-USDT+0.0100%8h8.9860+0.279%$719K$4.3M75xas long as short
Phemex UNIUSDTlong+0.0100%8h8.9610long leg$27.0M$4.5M50x
Paradex UNI-USD-PERP+0.0100%8h8.9670+0.067%$26K—20xas long as short
Extended UNI-USD+0.0104%1h8.9593−0.020%$302K$1.5M25xas long as short
Aevo UNI-PERP+0.0104%1h8.9657+0.052%$32K$1K3xas long as short
01 Exchange UNIUSD+0.0168%1h8.9776+0.185%$448—10xas long as short
BloFin UNI-USDT+0.0220%8h8.9480−0.145%$10.0M$3.5M75xas long as short
Coinbase International UNI-PERP-INTX+0.0232%1h8.9720+0.123%$1.1M$5.4M50xas long as short
dYdX UNI-USD+0.0318%1h8.9627+0.019%$248K$6K10xas long as short
Reya UNIRUSDPERP+0.0365%1h8.9616+0.007%$16K—20xas long as short
GMX UNI/USD [UNI-USDC]L +0.0381% / S −0.0323%1h8.9617+0.008%$567K—120xas long as short
Hyperliquid UNI+0.0469%1h8.9728+0.132%$98.3M$59.6M10xas long as short
Kraken Futures PF_UNIUSD+0.0564%1h8.9680+0.078%$5.0M$7.0M50xas long as short
Aftermath Perps UNIUSD+0.0864%1h8.9773+0.182%$1K$49K10xas long as short
Lighter UNI+0.0920%1h8.9831+0.247%$4.6M$5.3M15xas long as short