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 −0.004%

Price spread now: MEXC against Phemex−0.044%7-day average −0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs−$39as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$370.369% of the position

Long on Phemex Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.019%−$2 on $10k

Price spread, last 3 days (all we have)−0.150%−$15 · spread now −0.044%, 7d avg −0.023%

Together, before fees−0.168%−$17 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: MEXC is 0.022% 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 −0.023%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex UNIUSDT	8.9950	0.0100	pay 0.0100% / 8h	7h 58m	$27.1M	$4.5M	50x
Short	MEXC UNI_USDT	8.9910	0.0100	get 0.0100% / 8h	7h 58m	$44.0M	$23.2M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.044%Rate

Funding earned: $0
Price spread: −0.044% → −0.023%: −$2.17
Slippage, 4 orders: −$20.9
Fee Phemex: 6 bp × 2 orders: −$12
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$39.07
Costs to cover: 0.369%
Break-even: never at this rate

Slippage from Phemex: live order book, 6 min ago; MEXC: 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	2.79 bp	22.4 bp −$22	34.4 bp −$344	doesn't fit	doesn't fit
Sell MEXC live order book, 6 min ago	0.56 bp	3.2 bp −$3	7.8 bp −$78	29.4 bp −$2,937	177.1 bp −$88.5K

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
dYdX UNI-USD	0.0000%	1h	8.9757	−0.214%	$249K	$6K	10x	as long as short
01 Exchange UNIUSD	0.0000%	1h	8.9847	−0.115%	$448	—	10x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0004%	1h	8.9981	+0.034%	$62K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−1.834%	$660	$154K	12x	as long as short
OKX UNI-USDT-SWAP	+0.0086%	8h	8.9900	−0.056%	$54.9M	$249.5M	50x	as long as short
Variational Omni UNI	+0.0090%	8h	9.0023	+0.081%	$4.1M	$4.4M	—	as long as short
Nado UNI-PERP	+0.0100%	1h	8.9810	−0.156%	$945K	$4.2M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.9980	+0.033%	$1.0M	$3.3M	50x	as long as short
Pacifica UNI	+0.0100%	1h	8.9818	−0.147%	$299K	$591K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	8.9930	−0.022%	$222.6M	$592.1M	75x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit UNIUSDT	+0.0100%	8h	8.9940	−0.011%	$101.7M	$105.8M	75x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.9930	−0.022%	$270K	$614K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.9910	−0.044%	$22.9M	$57.2M	75x	as long as short
MEXC UNI_USDTshort	+0.0100%	8h	8.9910	−0.044%	$44.0M	$23.2M	200x
KuCoin UNIUSDTM	+0.0100%	8h	8.9880	−0.078%	$13.6M	$13.5M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.9920	−0.033%	$32.9M	$42.1M	75x	as long as short
BingX UNI-USDT	+0.0100%	8h	8.9930	−0.022%	—	$52.1M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	8.9939	−0.012%	$1.1M	$2.4M	10x	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.9998	+0.053%	$169K	$345K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	9.0010	+0.067%	$626K	$2.5M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	9.0080	+0.145%	$88K	$708K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.9900	−0.056%	$36K	$3.3M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.9910	−0.044%	$86K	$372K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.9920	−0.033%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.9891	−0.066%	$36K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.9920	−0.033%	$21K	$679K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	9.0013	+0.070%	$722K	$4.4M	75x	as long as short
Phemex UNIUSDTlong	+0.0100%	8h	8.9950	long leg	$27.1M	$4.5M	50x
Paradex UNI-USD-PERP	+0.0100%	8h	8.9811	−0.155%	$26K	—	20x	as long as short
Extended UNI-USD	+0.0104%	1h	8.9883	−0.074%	$302K	$1.5M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.9951	+0.001%	$32K	—	3x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0176%	1h	8.9999	+0.054%	$579K	$177K	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.9930	−0.022%	$10.0M	$3.5M	75x	as long as short
Hyperliquid UNI	+0.0236%	1h	9.0004	+0.060%	$98.5M	$59.7M	10x	as long as short
Coinbase International UNI-PERP-INTX	+0.0272%	1h	8.9910	−0.044%	$1.1M	$5.4M	50x	as long as short
Reya UNIRUSDPERP	+0.0365%	1h	8.9882	−0.076%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0382% / S −0.0323%	1h	8.9971	+0.023%	$569K	—	120x	as long as short
Kraken Futures PF_UNIUSD	+0.0390%	1h	9.0001	+0.057%	$5.0M	$7.0M	50x	as long as short
Lighter UNI	+0.0712%	1h	9.0126	+0.196%	$4.6M	$5.2M	15x	as long as short
Aftermath Perps UNIUSD	+0.0866%	1h	8.9915	−0.039%	$1K	$49K	10x	as long as short