Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: BingX against Phemex+0.136%7-day average −0.054% · you sell dearer than you buy

Net, funding: paid 7d − costs−$52as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$460.458% of the position

Long on Phemex Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.062%−$6 on $10k

Price spread, last 3 days (all we have)−0.580%−$58 · spread now +0.136%, 7d avg −0.054%

Together, before fees−0.642%−$64 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: BingX is 0.190% dearer against Phemex than usual: you sell high and buy low, +$19 on $10k if it goes back to its 7-day average of −0.054%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex UNIUSDT	8.8210	0.0100	pay 0.0100% / 8h	1h 42m	$26.6M	$4.5M	50x
Short	BingX UNI-USDT	8.8330	0.0100	get 0.0100% / 8h	1h 42m	—	$52.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now +0.136%Rate

Funding earned: $0
Price spread: +0.136% → −0.054%: $18.97
Slippage, 4 orders: −$23.85
Fee Phemex: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$26.88
Costs to cover: 0.458%
Break-even: never at this rate

Slippage from Phemex: live order book, 6 min ago; BingX: live order book, 11 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, 6 min ago	7.41 bp	17.7 bp −$18	30.3 bp −$303	doesn't fit	doesn't fit
Sell BingX live order book, 11 min ago	0.57 bp	6.3 bp −$6	10.2 bp −$102	20.0 bp −$2,005	72.0 bp −$36.0K

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
Variational Omni UNI	−0.0078%	8h	8.7827	−0.435%	$3.9M	$4.7M	—	as long as short
Bybit UNIUSDT	−0.0030%	8h	8.8320	+0.125%	$100.9M	$104.5M	75x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0006%	1h	8.8249	+0.045%	$79K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.7900	−0.351%	$657	$96K	12x	as long as short
OKX UNI-USDT-SWAP	+0.0034%	8h	8.8320	+0.125%	$54.7M	$243.7M	50x	as long as short
01 Exchange UNIUSD	+0.0040%	1h	8.8244	+0.039%	$440	—	10x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0080%	1h	8.8288	+0.088%	$562K	$157K	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.8164	−0.053%	$25K	—	20x	as long as short
Nado UNI-PERP	+0.0100%	1h	8.8142	−0.077%	$858K	$3.9M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.8485	+0.312%	$1.0M	$3.4M	50x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica UNI	+0.0100%	1h	8.8180	−0.034%	$297K	$579K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	8.8380	+0.193%	$217.1M	$589.2M	75x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.8240	+0.034%	$272K	$606K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.8390	+0.204%	$23.0M	$58.3M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.8380	+0.193%	$42.6M	$24.4M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.8400	+0.215%	$13.6M	$13.8M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.8330	+0.136%	$32.0M	$41.3M	75x	as long as short
BingX UNI-USDTshort	+0.0100%	8h	8.8330	+0.136%	—	$52.0M	—
Backpack UNI_USDC_PERP	+0.0100%	1h	8.8362	+0.172%	$980K	$2.3M	10x	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.7992	−0.247%	$165K	$345K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.8080	−0.147%	$622K	$2.5M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.8030	−0.204%	$87K	$714K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.8160	−0.057%	$105K	$3.2M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.8242	+0.036%	$87K	$350K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.8230	+0.023%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.8187	−0.026%	$36K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.8247	+0.042%	$25K	$668K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.8366	+0.177%	$726K	$4.3M	75x	as long as short
Phemex UNIUSDTlong	+0.0100%	8h	8.8210	long leg	$26.6M	$4.5M	50x
Extended UNI-USD	+0.0104%	1h	8.8362	+0.173%	$300K	$1.5M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.8240	+0.034%	$31K	$1K	3x	as long as short
dYdX UNI-USD	+0.0156%	1h	8.8188	−0.025%	$244K	$6K	10x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.8280	+0.079%	$9.8M	$3.3M	75x	as long as short
Coinbase International UNI-PERP-INTX	+0.0224%	1h	8.8280	+0.079%	$1.0M	$5.2M	50x	as long as short
Hyperliquid UNI	+0.0333%	1h	8.8488	+0.315%	$96.8M	$59.6M	10x	as long as short
Kraken Futures PF_UNIUSD	+0.0343%	1h	8.8293	+0.094%	$4.9M	$6.9M	50x	as long as short
Reya UNIRUSDPERP	+0.0361%	1h	8.8235	+0.028%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0379% / S −0.0319%	1h	8.8236	+0.029%	$552K	—	120x	as long as short
Lighter UNI	+0.0528%	1h	8.8422	+0.240%	$4.5M	$5.2M	15x	as long as short
Aftermath Perps UNIUSD	+0.0610%	1h	8.8013	−0.223%	$1K	$49K	10x	as long as short