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Funding arb · Price arb /

UNI

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.003%
Price spread now: Backpack against Polymarket Perps−0.027%7-day average −0.004% · you buy dearer than you sell
Net, funding: paid 7d − costs−$21as in the Funding arb table
Net, price: spread back to 7d avg − costs−$30as in the Price arb table
costs, in and out, $10k−$280.277% of the position
Long on Polymarket PerpsShort on Backpack
What this pair did over the last
the charts below follow
Funding, last 7 days+0.067%+$7 on $10k
Price spread, last 3 days (all we have)−0.567%−$57 · spread now −0.027%, 7d avg −0.004%
Together, before fees−0.501%−$50 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: Backpack is 0.023% cheaper against Polymarket Perps than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of −0.004%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPolymarket Perps UNI-USD8.98870.0100pay 0.0013% / 1h0m 29s$87K$356K10x
ShortBackpack UNI_USDC_PERP8.98630.0100get 0.0013% / 1h0m 29s$999K$2.3M10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Backpack against Polymarket Perps. 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

Funding earned
$0
Price spread: −0.027% → −0.004%
−$2.27
Slippage, 4 orders
−$9.71
Fee Polymarket Perps: 4 bp × 2 orders
−$8
Fee Backpack: 5 bp × 2 orders
−$10
Net
−$29.98
Costs to cover
0.277%
Break-even
never at this rate
Slippage from Polymarket Perps: live order book, 17 min ago; Backpack: live order book, 4 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Polymarket Perps live order book, 17 min ago2.25 bp8.0 bp −$810.8 bp −$108doesn't fitdoesn't fit
Sell Backpack live order book, 4 min ago0.06 bp7.7 bp −$8175.5 bp −$1,755doesn't fitdoesn't fit

UNI on 40 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Variational Omni UNI−0.0030%8h8.9413−0.527%$4.0M$4.6M—as long as short
gTrade (Gains Network) UNI/USDL +0.0004% / S −0.0004%1h8.9727−0.178%$62K—150xas long as short
Bybit UNIUSDT+0.0028%8h8.9850−0.041%$102.7M$105.1M75xas long as short
Injective UNI/USDC PERP+0.0033%1h8.8300−1.766%$660$155K12xas long as short
OKX UNI-USDT-SWAP+0.0064%8h8.9860−0.030%$55.4M$248.7M50xas long as short
01 Exchange UNIUSD+0.0096%1h8.9891+0.004%$449—10xas long as short
Paradex UNI-USD-PERP+0.0100%8h8.9760−0.141%$26K—20xas long as short
Nado UNI-PERP+0.0100%1h8.9770−0.130%$953K$4.1M10xas long as short
Aster UNIUSDT+0.0100%8h8.9881−0.006%$1.0M$3.3M50xas long as short
Pacifica UNI+0.0100%1h8.9812−0.083%$299K$584K10xas long as short
Show all 40 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Binance UNIUSDT+0.0100%8h8.9870−0.019%$221.7M$592.8M75xas long as short
Arcus UNI-USD+0.0100%1h8.9900+0.014%$277K$621K10xas long as short
Gate UNI_USDT+0.0100%8h8.9820−0.075%$23.1M$59.1M75xas long as short
MEXC UNI_USDT+0.0100%8h8.9860−0.030%$43.3M$24.7M200xas long as short
KuCoin UNIUSDTM+0.0100%8h8.9860−0.030%$13.7M$13.8M75xas long as short
Bitget UNIUSDT+0.0100%8h8.9820−0.075%$32.7M$41.5M75xas long as short
BingX UNI-USDC+0.0100%8h8.9830−0.063%—$6.5M—as long as short
Backpack UNI_USDC_PERPshort+0.0100%1h8.9863−0.027%$999K$2.3M10x
edgeX UNIUSDC+0.0100%4h8.9542−0.384%$168K$344K20xas long as short
GRVT UNI_USDT_Perp+0.0100%8h8.9616−0.301%$628K$2.5M10xas long as short
ApeX Omni UNIUSDT+0.0100%1h8.9540−0.386%$88K$713K50xas long as short
StandX UNI-USD+0.0100%1h8.9670−0.241%$107K$3.2M20xas long as short
Polymarket Perps UNI-USDlong+0.0100%1h8.9887long leg$87K$356K10x
Orderly PERP_UNI_USDC+0.0100%8h8.9720−0.186%$16K$1.7M10xas long as short
SunX UNI-USDT+0.0100%8h8.9792−0.106%$36K$1.3M30xas long as short
SoDEX UNI-USD+0.0100%1h8.9731−0.174%$25K$663K10xas long as short
HTX UNI-USDT+0.0100%8h8.9805−0.091%$734K$4.3M75xas long as short
Phemex UNIUSDT+0.0100%8h8.9730−0.175%$27.0M$4.4M50xas long as short
Extended UNI-USD+0.0104%1h8.9797−0.100%$303K$1.5M25xas long as short
Aevo UNI-PERP+0.0104%1h8.9901+0.015%$32K$1K3xas long as short
dYdX UNI-USD+0.0109%1h8.9829−0.065%$249K$6K10xas long as short
Deribit UNI_USDC-PERPETUAL+0.0202%1h8.9776−0.123%$571K$157K50xas long as short
BloFin UNI-USDT+0.0220%8h8.9760−0.141%$10.0M$3.4M75xas long as short
Coinbase International UNI-PERP-INTX+0.0224%1h8.9770−0.130%$1.1M$5.4M50xas long as short
Kraken Futures PF_UNIUSD+0.0337%1h8.9788−0.110%$5.0M$7.0M50xas long as short
Reya UNIRUSDPERP+0.0363%1h8.9829−0.064%$16K—20xas long as short
GMX UNI/USD [UNI-USDC]L +0.0380% / S −0.0320%1h8.9712−0.195%$563K—120xas long as short
Hyperliquid UNI+0.0458%1h8.9985+0.109%$99.0M$59.4M10xas long as short
Aftermath Perps UNIUSD+0.0680%1h8.9649−0.265%$1K$49K10xas long as short
Lighter UNI+0.0688%1h8.9974+0.097%$4.6M$5.2M15xas long as short