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 0.000%

Price spread now: KuCoin against Phemex−0.055%7-day average −0.032% · you buy dearer than you sell

Net, funding: paid 7d − costs−$79as in the Funding arb table

Net, price: spread back to 7d avg − costs−$79as in the Price arb table

costs, in and out, $10k−$770.767% of the position

Long on Phemex Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.020%−$2 on $10k

Price spread, last 4 days (all we have)−0.367%−$37 · spread now −0.055%, 7d avg −0.032%

Together, before fees−0.387%−$39 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: KuCoin is 0.023% cheaper against Phemex than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of −0.032%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex UNIUSDT	9.0990	0.0100	pay 0.0100% / 8h	4h 42m	$27.5M	$4.5M	50x
Short	KuCoin UNIUSDTM	9.0940	0.0100	get 0.0100% / 8h	4h 42m	$13.6M	$13.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.055%Rate

Funding earned: $0
Price spread: −0.055% → −0.032%: −$2.27
Slippage, 4 orders: −$52.66
Fee Phemex: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$78.92
Costs to cover: 0.767%
Break-even: never at this rate

Slippage from Phemex: live order book, 6 min ago; KuCoin: live order book, 6 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	6.08 bp	17.7 bp −$18	31.5 bp −$315	doesn't fit	doesn't fit
Sell KuCoin live order book, 6 min ago	2.20 bp	21.0 bp −$21	26.7 bp −$267	73.3 bp −$7,330	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
Deribit UNI_USDC-PERPETUAL	0.0000%	1h	9.1066	+0.083%	$583K	$193K	50x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0004%	1h	9.1096	+0.117%	$37K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−2.956%	$660	$154K	12x	as long as short
01 Exchange UNIUSD	+0.0056%	1h	9.1182	+0.211%	$455	$5	10x	as long as short
dYdX UNI-USD	+0.0085%	1h	9.0872	−0.130%	$239K	$30K	10x	as long as short
Nado UNI-PERP	+0.0100%	1h	9.1110	+0.132%	$923K	$4.4M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	9.0999	+0.010%	$1.0M	$3.0M	50x	as long as short
Pacifica UNI	+0.0100%	1h	9.1322	+0.365%	$296K	$590K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	9.0907	−0.091%	$224.2M	$631.0M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	9.0870	−0.132%	$101.9M	$110.7M	75x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX UNI-USDT-SWAP	+0.0100%	8h	9.0830	−0.176%	$55.6M	$258.8M	50x	as long as short
Arcus UNI-USD	+0.0100%	1h	9.0620	−0.407%	$287K	$630K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	9.0860	−0.143%	$23.6M	$62.9M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	9.0890	−0.110%	$48.4M	$25.3M	200x	as long as short
KuCoin UNIUSDTMshort	+0.0100%	8h	9.0940	−0.055%	$13.6M	$13.1M	75x
Bitget UNIUSDT	+0.0100%	8h	9.0840	−0.165%	$33.5M	$44.3M	75x	as long as short
BingX UNI-USDT	+0.0100%	8h	9.0870	−0.132%	—	$56.5M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	9.0996	+0.007%	$1.0M	$2.3M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	9.0968	−0.024%	$4.3M	$4.2M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	9.0727	−0.289%	$171K	$346K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	9.1003	+0.015%	$639K	$2.7M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	9.1050	+0.066%	$89K	$694K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	9.1050	+0.066%	$36K	$3.3M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	9.1145	+0.170%	$87K	$421K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	9.1030	+0.044%	$16K	$1.6M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	9.1171	+0.199%	$37K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	9.1031	+0.045%	$22K	$783K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	9.1120	+0.143%	$718K	$4.5M	75x	as long as short
Phemex UNIUSDTlong	+0.0100%	8h	9.0990	long leg	$27.5M	$4.5M	50x
Paradex UNI-USD-PERP	+0.0100%	8h	9.1264	+0.301%	$26K	—	20x	as long as short
Extended UNI-USD	+0.0104%	1h	9.0824	−0.182%	$299K	$1.6M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	9.1039	+0.054%	$32K	—	3x	as long as short
BloFin UNI-USDT	+0.0220%	8h	9.0960	−0.033%	$10.3M	$3.6M	75x	as long as short
Lighter UNI	+0.0224%	1h	9.1003	+0.014%	$4.6M	$5.8M	15x	as long as short
Coinbase International UNI-PERP-INTX	+0.0248%	1h	9.1300	+0.341%	$1.1M	$5.5M	50x	as long as short
Kraken Futures PF_UNIUSD	+0.0269%	1h	9.1076	+0.094%	$5.0M	$7.9M	50x	as long as short
Reya UNIRUSDPERP	+0.0372%	1h	9.1066	+0.084%	$17K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0244%	1h	9.1056	+0.073%	$648K	—	120x	as long as short
Hyperliquid UNI	+0.0450%	1h	9.0987	−0.003%	$98.8M	$61.8M	10x	as long as short
Aftermath Perps UNIUSD	+0.1048%	1h	9.1129	+0.152%	$912	$46K	10x	as long as short