Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.003%

Price spread now: Binance against Phemex−0.411%7-day average −0.018% · you buy dearer than you sell

Net, funding: paid 7d − costs−$60as in the Funding arb table

Net, price: spread back to 7d avg − costs−$97as in the Price arb table

costs, in and out, $10k−$580.580% of the position

Long on Phemex Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.018%−$2 on $10k

Price spread, last 4 days (all we have)−0.362%−$36 · spread now −0.411%, 7d avg −0.018%

Together, before fees−0.380%−$38 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: Binance is 0.393% cheaper against Phemex than usual: you would sell low and buy high, −$39 on $10k if it goes back to its 7-day average of −0.018%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex UNIUSDT	9.1200	0.0100	pay 0.0100% / 8h	5h 41m	$27.5M	$4.4M	50x
Short	Binance UNIUSDT	9.0826	0.0100	get 0.0100% / 8h	5h 41m	$226.5M	$609.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.411%Rate

Funding earned: $0
Price spread: −0.411% → −0.018%: −$39.3
Slippage, 4 orders: −$35.98
Fee Phemex: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$97.28
Costs to cover: 0.580%
Break-even: never at this rate

Slippage from Phemex: live order book, 2 min ago; Binance: live order book, 2 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, 2 min ago	9.87 bp	21.8 bp −$22	37.9 bp −$379	doesn't fit	doesn't fit
Sell Binance live order book, 2 min ago	0.55 bp	9.1 bp −$9	16.6 bp −$166	48.0 bp −$4,798	170.8 bp −$85.4K

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	9.1187	−0.014%	$19K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−3.180%	$660	$154K	12x	as long as short
01 Exchange UNIUSD	+0.0096%	1h	9.1315	+0.126%	$456	$5	10x	as long as short
Nado UNI-PERP	+0.0100%	1h	9.1222	+0.025%	$950K	$4.3M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	9.0979	−0.242%	$1.0M	$2.9M	50x	as long as short
Pacifica UNI	+0.0100%	1h	9.0846	−0.388%	$296K	$570K	10x	as long as short
Binance UNIUSDTshort	+0.0100%	8h	9.0826	−0.411%	$226.5M	$609.6M	75x
Bybit UNIUSDT	+0.0100%	8h	9.0850	−0.384%	$102.3M	$107.7M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	9.0960	−0.263%	$56.1M	$253.2M	50x	as long as short
Arcus UNI-USD	+0.0100%	1h	9.1350	+0.164%	$289K	$619K	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate UNI_USDT	+0.0100%	8h	9.0840	−0.395%	$23.4M	$59.4M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	9.0900	−0.329%	$49.2M	$25.1M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	9.0880	−0.351%	$13.6M	$12.9M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	9.0830	−0.406%	$33.3M	$42.6M	75x	as long as short
BingX UNI-USDT	+0.0100%	8h	9.0850	−0.384%	—	$56.5M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	9.1099	−0.111%	$991K	$2.2M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	9.0819	−0.418%	$4.2M	$4.2M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	9.0951	−0.273%	$171K	$347K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	9.0730	−0.516%	$634K	$2.6M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	9.1080	−0.132%	$89K	$696K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	9.1300	+0.110%	$58K	$3.3M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	9.1354	+0.169%	$89K	$412K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	9.1140	−0.066%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	9.1373	+0.190%	$37K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	9.1173	−0.030%	$22K	$755K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	9.1307	+0.117%	$721K	$4.3M	75x	as long as short
Phemex UNIUSDTlong	+0.0100%	8h	9.1200	long leg	$27.5M	$4.4M	50x
Paradex UNI-USD-PERP	+0.0100%	8h	9.1230	+0.033%	$26K	—	20x	as long as short
Extended UNI-USD	+0.0104%	1h	9.0829	−0.407%	$304K	$1.5M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	9.1156	−0.048%	$32K	—	3x	as long as short
dYdX UNI-USD	+0.0150%	1h	9.0825	−0.411%	$239K	$30K	10x	as long as short
BloFin UNI-USDT	+0.0220%	8h	9.1290	+0.099%	$10.5M	$3.6M	75x	as long as short
Kraken Futures PF_UNIUSD	+0.0269%	1h	9.1217	+0.019%	$5.1M	$7.3M	50x	as long as short
Coinbase International UNI-PERP-INTX	+0.0296%	1h	9.1240	+0.044%	$1.1M	$5.0M	50x	as long as short
Reya UNIRUSDPERP	+0.0370%	1h	9.1287	+0.095%	$17K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0244%	1h	9.1214	+0.016%	$650K	—	120x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0412%	1h	9.1205	+0.006%	$588K	$191K	50x	as long as short
Hyperliquid UNI	+0.0574%	1h	9.0977	−0.245%	$99.1M	$59.3M	10x	as long as short
Lighter UNI	+0.0592%	1h	9.1005	−0.214%	$4.7M	$5.6M	15x	as long as short
Aftermath Perps UNIUSD	+0.0968%	1h	9.1145	−0.061%	$933	$47K	10x	as long as short