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 −0.020%

Price spread now: GRVT against Phemex−0.084%77s7-day average −0.016% · you buy dearer than you sell

Net, funding: paid 7d − costs−$54as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$530.535% of the position

Long on Phemex Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.001%$0 on $10k

Price spread, last 3 days (all we have)−0.142%−$14 · spread now −0.084%, 7d avg −0.016%

Together, before fees−0.143%+ Points / potential airdropGRVT: Active · farm board−$14 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: GRVT is 0.069% cheaper against Phemex than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of −0.016%. The two prices were read 77 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex UNIUSDT	8.8850	0.0100	pay 0.0100% / 8h	1h 22m	$26.7M	$4.4M	50x
Short	GRVT UNI_USDT_Perp	8.8775	0.0100	get 0.0100% / 8h	1h 22m	$626K	$2.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.084%Rate

Funding earned: $0
Price spread: −0.084% → −0.016%: −$6.86
Slippage, 4 orders: −$32.48
Fee Phemex: 6 bp × 2 orders: −$12
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$60.35
Costs to cover: 0.535%
Break-even: never at this rate

Slippage from Phemex: live order book, 2 min ago; GRVT: 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	5.08 bp	16.4 bp −$16	30.4 bp −$304	doesn't fit	doesn't fit
Sell GRVT live order book, 2 min ago	1.13 bp	17.5 bp −$18	27.5 bp −$275	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
Variational Omni UNI	−0.0057%	8h	8.8474	−0.423%	$3.9M	$4.5M	—	as long as short
Bybit UNIUSDT	−0.0003%	8h	8.8890	+0.045%	$101.4M	$104.5M	75x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0004%	1h	8.8904	+0.061%	$62K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−0.619%	$660	$155K	12x	as long as short
OKX UNI-USDT-SWAP	+0.0048%	8h	8.8880	+0.034%	$55.0M	$245.1M	50x	as long as short
01 Exchange UNIUSD	+0.0056%	1h	8.8885	+0.039%	$444	—	10x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.8798	−0.059%	$25K	—	20x	as long as short
Nado UNI-PERP	+0.0100%	1h	8.8845	−0.006%	$941K	$4.0M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.8903	+0.060%	$1.0M	$3.3M	50x	as long as short
Pacifica UNI	+0.0100%	1h	8.8818	−0.036%	$298K	$570K	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance UNIUSDT	+0.0100%	8h	8.8900	+0.056%	$218.1M	$588.4M	75x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.8910	+0.068%	$283K	$615K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.8870	+0.023%	$23.1M	$58.6M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.8880	+0.034%	$42.9M	$24.5M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.8870	+0.023%	$13.6M	$13.7M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.8900	+0.056%	$32.2M	$41.4M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	8.8870	+0.023%	—	$6.5M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	8.8929	+0.089%	$988K	$2.3M	10x	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.8599	−0.282%	$167K	$343K	20x	as long as short
GRVT UNI_USDT_Perpshort	+0.0100%	8h	8.8775	−0.084%	$626K	$2.5M	10x
ApeX Omni UNIUSDT	+0.0100%	1h	8.8740	−0.124%	$88K	$712K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.8710	−0.158%	$106K	$3.2M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.8866	+0.018%	$86K	$353K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.8860	+0.011%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.8910	+0.068%	$36K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.8870	+0.023%	$25K	$666K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.8960	+0.124%	$730K	$4.3M	75x	as long as short
Phemex UNIUSDTlong	+0.0100%	8h	8.8850	long leg	$26.7M	$4.4M	50x
Extended UNI-USD	+0.0104%	1h	8.8838	−0.014%	$301K	$1.4M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.8895	+0.051%	$32K	$1K	3x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0118%	1h	8.8934	+0.095%	$565K	$157K	50x	as long as short
dYdX UNI-USD	+0.0143%	1h	8.8798	−0.059%	$246K	$6K	10x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.8710	−0.158%	$9.8M	$3.4M	75x	as long as short
Coinbase International UNI-PERP-INTX	+0.0224%	1h	8.8890	+0.045%	$1.1M	$5.3M	50x	as long as short
Hyperliquid UNI	+0.0338%	1h	8.9002	+0.171%	$97.6M	$59.1M	10x	as long as short
Kraken Futures PF_UNIUSD	+0.0340%	1h	8.8950	+0.112%	$5.0M	$7.0M	50x	as long as short
Reya UNIRUSDPERP	+0.0362%	1h	8.8835	−0.016%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0379% / S −0.0319%	1h	8.8896	+0.052%	$557K	—	120x	as long as short
Lighter UNI	+0.0592%	1h	8.9046	+0.221%	$4.6M	$5.2M	15x	as long as short
Aftermath Perps UNIUSD	+0.0622%	1h	8.8616	−0.263%	$1K	$49K	10x	as long as short