Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.001%

Price spread now: Polymarket Perps against Phemex+0.001%7-day average −0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs−$44as in the Funding arb table

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

costs, in and out, $10k−$400.404% of the position

Long on Phemex Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.032%−$3 on $10k

Price spread, last 3 days (all we have)−0.173%−$17 · spread now +0.001%, 7d avg −0.013%

Together, before fees−0.205%−$21 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex UNIUSDT	8.8870	0.0100	pay 0.0100% / 8h	1h 21m	$26.7M	$4.4M	50x
Short	Polymarket Perps UNI-USD	8.8871	0.0100	get 0.0013% / 1h	21m 20s	$86K	$354K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.001%Rate

Funding earned: $0
Price spread: +0.001% → −0.013%: $1.45
Slippage, 4 orders: −$20.44
Fee Phemex: 6 bp × 2 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$38.99
Costs to cover: 0.404%
Break-even: never at this rate

Slippage from Phemex: live order book, 3 min ago; Polymarket Perps: live order book, 61 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, 3 min ago	5.08 bp	16.4 bp −$16	30.4 bp −$304	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 61 min ago	1.68 bp	6.0 bp −$6	7.6 bp −$76	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	−0.446%	$3.9M	$4.5M	—	as long as short
Bybit UNIUSDT	−0.0002%	8h	8.8860	−0.011%	$101.3M	$104.6M	75x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0004%	1h	8.8899	+0.033%	$62K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−0.641%	$660	$155K	12x	as long as short
OKX UNI-USDT-SWAP	+0.0046%	8h	8.8860	−0.011%	$55.0M	$245.1M	50x	as long as short
01 Exchange UNIUSD	+0.0056%	1h	8.8960	+0.101%	$444	—	10x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0071%	1h	8.8933	+0.071%	$565K	$157K	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.8847	−0.026%	$25K	—	20x	as long as short
Nado UNI-PERP	+0.0100%	1h	8.8832	−0.042%	$941K	$4.0M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.8905	+0.039%	$1.0M	$3.3M	50x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica UNI	+0.0100%	1h	8.8922	+0.058%	$298K	$570K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	8.8880	+0.011%	$218.1M	$588.5M	75x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.8980	+0.124%	$283K	$615K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.8870	0.000%	$23.1M	$58.6M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.8840	−0.034%	$42.9M	$24.5M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.8880	+0.011%	$13.6M	$13.7M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.8870	0.000%	$32.2M	$41.4M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	8.8870	0.000%	—	$6.5M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	8.8929	+0.066%	$988K	$2.3M	10x	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.8599	−0.304%	$167K	$343K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.8775	−0.107%	$626K	$2.5M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.8740	−0.146%	$88K	$712K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.8880	+0.011%	$106K	$3.2M	20x	as long as short
Polymarket Perps UNI-USDshort	+0.0100%	1h	8.8871	+0.001%	$86K	$354K	10x
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	8.8921	+0.057%	$36K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.8890	+0.023%	$25K	$666K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.8930	+0.068%	$729K	$4.3M	75x	as long as short
Phemex UNIUSDTlong	+0.0100%	8h	8.8870	long leg	$26.7M	$4.4M	50x
Extended UNI-USD	+0.0104%	1h	8.8850	−0.022%	$301K	$1.4M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.8895	+0.028%	$32K	$1K	3x	as long as short
dYdX UNI-USD	+0.0139%	1h	8.8948	+0.088%	$246K	$6K	10x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.8710	−0.180%	$9.8M	$3.4M	75x	as long as short
Coinbase International UNI-PERP-INTX	+0.0224%	1h	8.8970	+0.113%	$1.1M	$5.3M	50x	as long as short
Kraken Futures PF_UNIUSD	+0.0340%	1h	8.8945	+0.085%	$5.0M	$7.0M	50x	as long as short
Hyperliquid UNI	+0.0342%	1h	8.9007	+0.154%	$97.6M	$59.1M	10x	as long as short
Reya UNIRUSDPERP	+0.0362%	1h	8.8798	−0.081%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0379% / S −0.0319%	1h	8.8893	+0.026%	$557K	—	120x	as long as short
Lighter UNI	+0.0592%	1h	8.9104	+0.263%	$4.6M	$5.2M	15x	as long as short
Aftermath Perps UNIUSD	+0.0625%	1h	8.8682	−0.211%	$1K	$49K	10x	as long as short