Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0169%/8h= +18.6% APRpaid last 24h +0.001%

Price spread now: Extended against Phemex+0.047%7-day average −0.101% · you sell dearer than you buy

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$460.461% of the position

Long on Phemex Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.084%+$8 on $10k

Price spread, last 3 days (all we have)−0.249%−$25 · spread now +0.047%, 7d avg −0.101%

Together, before fees−0.165%+ Points / potential airdropExtended: Active · farm board−$16 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Extended is 0.148% dearer against Phemex than usual: you sell high and buy low: +$15 more if the spread goes back to its 7-day average of −0.101%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex UNIUSDT	9.2000	−0.0065	get 0.0065% / 8h	7h 40m	$27.8M	$4.5M	50x
Short	Extended UNI-USD	9.2043	0.0104	get 0.0013% / 1h	40m 13s	$306K	$1.5M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now +0.047%Rate

Funding earned: $35.59
Price spread: +0.047% → −0.101%: $14.85
Slippage, 4 orders: −$29.11
Fee Phemex: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: $4.33
Costs to cover: 0.461%
Break-even: 6.1 days

Slippage from Phemex: live order book, 4 min ago; Extended: live order book, 3 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	9.84 bp	19.0 bp −$19	34.2 bp −$342	doesn't fit	doesn't fit
Sell Extended live order book, 3 min ago	0.44 bp	4.0 bp −$4	7.4 bp −$74	doesn't fit	doesn't fit

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
Phemex UNIUSDTlong	−0.0065%	8h	9.2000	long leg	$27.8M	$4.5M	50x
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0005%	1h	9.2073	+0.079%	$75K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−4.022%	$660	$154K	12x	as long as short
01 Exchange UNIUSD	+0.0064%	1h	9.2084	+0.091%	$459	—	10x	as long as short
OKX UNI-USDT-SWAP	+0.0097%	8h	9.2040	+0.043%	$56.6M	$256.1M	50x	as long as short
Nado UNI-PERP	+0.0100%	1h	9.2075	+0.082%	$974K	$4.3M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	9.2216	+0.235%	$1.1M	$3.4M	50x	as long as short
Pacifica UNI	+0.0100%	1h	9.2045	+0.049%	$308K	$592K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	9.2107	+0.116%	$230.5M	$591.9M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	9.2060	+0.065%	$103.6M	$106.3M	75x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus UNI-USD	+0.0100%	1h	9.2150	+0.163%	$274K	$616K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	9.2060	+0.065%	$23.2M	$58.2M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	9.2110	+0.120%	$45.0M	$23.7M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	9.2110	+0.120%	$13.9M	$13.4M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	9.2030	+0.033%	$33.8M	$41.9M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	9.2070	+0.076%	—	$6.5M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	9.2108	+0.117%	$1.0M	$2.4M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	9.1681	−0.347%	$4.2M	$4.4M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	9.1327	−0.732%	$172K	$342K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	9.1211	−0.858%	$637K	$2.6M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	9.1370	−0.685%	$89K	$708K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	9.1770	−0.250%	$37K	$3.3M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	9.2120	+0.130%	$86K	$375K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	9.2090	+0.098%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	9.2156	+0.170%	$37K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	9.2093	+0.101%	$22K	$702K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	9.2159	+0.173%	$737K	$4.4M	75x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	9.1984	−0.017%	$26K	—	20x	as long as short
Extended UNI-USDshort	+0.0104%	1h	9.2043	+0.047%	$306K	$1.5M	25x
Aevo UNI-PERP	+0.0104%	1h	9.2095	+0.103%	$33K	—	3x	as long as short
dYdX UNI-USD	+0.0145%	1h	9.1992	−0.009%	$254K	$7K	10x	as long as short
BloFin UNI-USDT	+0.0220%	8h	9.1850	−0.163%	$10.1M	$3.6M	75x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0239%	1h	9.2134	+0.145%	$594K	$178K	50x	as long as short
Coinbase International UNI-PERP-INTX	+0.0272%	1h	9.2150	+0.163%	$1.1M	$5.6M	50x	as long as short
Reya UNIRUSDPERP	+0.0366%	1h	9.2065	+0.071%	$17K	—	20x	as long as short
Kraken Futures PF_UNIUSD	+0.0381%	1h	9.2151	+0.165%	$5.1M	$7.0M	50x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0382% / S −0.0323%	1h	9.2070	+0.076%	$583K	—	120x	as long as short
Hyperliquid UNI	+0.0463%	1h	9.2215	+0.234%	$101.4M	$60.3M	10x	as long as short
Lighter UNI	+0.0840%	1h	9.2263	+0.286%	$4.7M	$5.2M	15x	as long as short
Aftermath Perps UNIUSD	+0.0845%	1h	9.1373	−0.682%	$1K	$49K	10x	as long as short