UNI

Leg	Exchange	Price	Fund. /8h	Each payment	Next in	OI	Vol 24h	Lev
LONG	PhoenixUNI	8.8565	−0.0108	get 0.0014% / 1h	45m 33s	$4K	$231K	10x	Long Phoenix
SHORT	HyperliquidUNI	8.8711	+0.0100	get 0.0013% / 1h	45m 33s	$84.0M	$34.6M	10x	Short Hyperliquid4% off

Price gap+0.165%

Funding gap+0.0208% /8h

Both sides work: funding pays +$6 a day on $10k, and the gap is 0.120% above its 7d average: +$12 more if it goes back.

If you open now and hold

on $10k a leg · figures of the last 7D, not a forecast

Funding+$67+0.0208% /8h now · paid +0.667% over the last 7D

Price+$12spread +0.165% now, avg +0.045% → +0.120% if it goes back

Costs−$420.417% of $10k · taker + slippage, in and out

Result+$37+0.37%+ Points / potential airdropHyperliquid: Season 2 · farm boardWhat the last 7D really paid, hour by hour → backtest

Funding history

you earnyou payavg

RANGE STATS · 7D

Average /8h—

Highest—

Lowest—

Paid you—

Short leg rate minus long leg rate, per 8h. Above zero: the pair pays you.

Price spread between the two exchanges

Hyperliquid price against Phoenixnow

RANGE STATS · 7D

Now+0.165%

Average—

Range—

Wider than now—

Where the spread has been, last 7D

share of time at each level

Funding on every exchange

/8h

UNI on 41 exchanges

lowest funding first

Before you open

4 ok · 2 to watch

Watch: Large against open interest12.7 / 8.7 bp
$10k is over 10% of Phoenix’s open interest.
Note: Margin at max leverage$1,000 + $1,000
Phoenix 10x, Hyperliquid 10x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
OK: Same payment interval1h / 1h
Both legs pay at the same time.
Next 24h at the current rates, on $10k a leg: +$6.24Long Phoenix: 24 payments, +$3.24; short Hyperliquid: 24 payments, +$3.00.
OK: Entry gap works for you+0.165% vs +0.045%
You short the dearer leg. If the gap goes back to average, the short gains.
Watch: Long leg is thinner$4K vs $84.0M OI
Phoenix sets your exit cost. Check its book before closing.
OK: Points on a legHyperliquid Season 2
Volume here counts toward the points program.
OK: No KYC on either legPhoenix No · Hyperliquid No
Both exchanges let you trade without ID.

Profit calculator

both legs, in and out

Position, each leg

Hold for

Orders

Price spread

Funding rate

Funding earned+0.0317%/8h × 21 periods+$66.67

Price spread+0.165% → +0.045% (7d avg)+$12.00

Slippage, 4 orderslive order books−$25.71

Fee Phoenix bp × 2 orders−$7.00

Fee Hyperliquid bp × 2 orders−$9.00

Net · 7 days · $10k+$36.97

Costs to cover0.417%Break-even3.1 days

Slippage: Phoenix: live order book, 61 min ago; Hyperliquid: live order book, 8 min ago

Cost to enter

taker + slippage from mid, one side

BUY · LONGPhoenix1.0112.7 bp−$1352.7 bp−$527doesn’t fitdoesn’t fit

SELL · SHORTHyperliquid0.068.7 bp−$9doesn’t fitdoesn’t fitdoesn’t fit

Closing costs about the same again.

UNI news

posts that mention UNI, from every exchangeSearch all news →

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UNI