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Funding arb · Price arb /

UNI

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 23:00 UTC+0.0219%/8h= +24.0% APRpaid last 24h +0.069%
Price spread now: GMX against Phemex+0.040%7-day average +0.002% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on PhemexShort on GMX
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.080%+$8 on $10k
Price spread, last 3 days (all we have)−0.167%−$17 · spread now +0.040%, 7d avg +0.002%
Together, before fees−0.087%−$9 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and GMX is 0.038% dearer against Phemex than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.002%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhemex UNIUSDT8.92400.0100pay 0.0100% / 8h1h 09m$26.9M$4.4M50x
ShortGMX UNI/USD [UNI-USDC]8.9276L +0.0379% / S −0.0319%get 0.0040% / 1h9m 15s$559K—120x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

GMX 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

Funding earned
$46.02
Price spread: +0.040% → +0.002%
$3.84
Slippage, 4 orders
no order book: not counted
Fee Phemex: 6 bp × 2 orders
−$12
Fee GMX: 6 bp × 2 orders
−$12
Net
$25.85
Costs to cover
0.240%
Break-even
3.1 days
Slippage unknown: Phemex: live order book, 5 min ago; GMX: no order-book sample. Net counts fees only.

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, 5 min ago4.49 bp15.3 bp −$1524.7 bp −$247doesn't fitdoesn't fit
Sell GMX no order-book sample—————
GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Variational Omni UNI−0.0038%8h8.9363+0.138%$4.0M$4.6M—as long as short
gTrade (Gains Network) UNI/USDL +0.0004% / S −0.0004%1h8.9276+0.040%$62K—150xas long as short
Bybit UNIUSDT+0.0013%8h8.92400.000%$101.9M$104.8M75xas long as short
Injective UNI/USDC PERP+0.0033%1h8.8300−1.053%$660$155K12xas long as short
OKX UNI-USDT-SWAP+0.0056%8h8.9260+0.022%$55.2M$246.6M50xas long as short
01 Exchange UNIUSD+0.0080%1h8.9334+0.105%$446—10xas long as short
Paradex UNI-USD-PERP+0.0100%8h8.9219−0.023%$25K—20xas long as short
Nado UNI-PERP+0.0100%1h8.9250+0.011%$943K$4.1M10xas long as short
Aster UNIUSDT+0.0100%8h8.9346+0.119%$1.0M$3.3M50xas long as short
Pacifica UNI+0.0100%1h8.9238−0.002%$297K$584K10xas long as short
Show all 40 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Binance UNIUSDT+0.0100%8h8.9260+0.022%$219.6M$590.5M75xas long as short
Arcus UNI-USD+0.0100%1h8.9320+0.090%$275K$621K10xas long as short
Gate UNI_USDT+0.0100%8h8.9260+0.022%$23.0M$58.9M75xas long as short
MEXC UNI_USDT+0.0100%8h8.9260+0.022%$43.1M$24.6M200xas long as short
KuCoin UNIUSDTM+0.0100%8h8.9270+0.034%$13.6M$13.8M75xas long as short
Bitget UNIUSDT+0.0100%8h8.9250+0.011%$32.4M$41.3M75xas long as short
BingX UNI-USDC+0.0100%8h8.9250+0.011%—$6.5M—as long as short
Backpack UNI_USDC_PERP+0.0100%1h8.9313+0.082%$992K$2.3M10xas long as short
edgeX UNIUSDC+0.0100%4h8.9326+0.096%$168K$343K20xas long as short
GRVT UNI_USDT_Perp+0.0100%8h8.9094−0.164%$628K$2.5M10xas long as short
ApeX Omni UNIUSDT+0.0100%1h8.9000−0.269%$88K$712K50xas long as short
StandX UNI-USD+0.0100%1h8.9140−0.112%$106K$3.2M20xas long as short
Polymarket Perps UNI-USD+0.0100%1h8.9308+0.076%$87K$356K10xas long as short
Orderly PERP_UNI_USDC+0.0100%8h8.9290+0.056%$16K$1.7M10xas long as short
SunX UNI-USDT+0.0100%8h8.9303+0.071%$36K$1.3M30xas long as short
SoDEX UNI-USD+0.0100%1h8.9280+0.045%$25K$666K10xas long as short
HTX UNI-USDT+0.0100%8h8.9233−0.008%$730K$4.3M75xas long as short
Phemex UNIUSDTlong+0.0100%8h8.9240long leg$26.9M$4.4M50x
Extended UNI-USD+0.0104%1h8.9242+0.002%$302K$1.5M25xas long as short
Aevo UNI-PERP+0.0104%1h8.9299+0.066%$32K$1K3xas long as short
dYdX UNI-USD+0.0115%1h8.92400.000%$247K$6K10xas long as short
Deribit UNI_USDC-PERPETUAL+0.0170%1h8.9331+0.102%$568K$157K50xas long as short
BloFin UNI-USDT+0.0220%8h8.9230−0.011%$9.9M$3.4M75xas long as short
Coinbase International UNI-PERP-INTX+0.0224%1h8.9320+0.090%$1.1M$5.3M50xas long as short
Kraken Futures PF_UNIUSD+0.0339%1h8.9302+0.070%$5.0M$7.0M50xas long as short
Reya UNIRUSDPERP+0.0363%1h8.9270+0.033%$16K—20xas long as short
GMX UNI/USD [UNI-USDC]shortL +0.0379% / S −0.0319%1h8.9276+0.040%$559K—120x
Hyperliquid UNI+0.0429%1h8.9427+0.210%$98.5M$59.3M10xas long as short
Aftermath Perps UNIUSD+0.0650%1h8.9213−0.030%$1K$49K10xas long as short
Lighter UNI+0.0656%1h8.9424+0.206%$4.6M$5.2M15xas long as short