Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0026%/8h= −2.8% APRpaid last 24h −0.024%

Price spread now: OKX against Polymarket Perps+0.027%47s7-day average −0.075% · you sell dearer than you buy

Net, funding: paid 7d − costs−$28as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$260.264% of the position

Long on Polymarket Perps Short on OKX

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)−0.676%−$68 · spread now +0.027%, 7d avg −0.075%

Together, before fees−0.695%−$69 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.102% dearer against Polymarket Perps than usual: you sell high and buy low (spread +0.027% now, against its 7-day average of −0.075%): +$10 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 13 days. At the pace of the last 7 days (−0.019% in total) that is about 37 days. The two prices were read 47 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps UNI-USD	9.0286	0.0100	pay 0.0013% / 1h	53m 38s	$88K	$355K	10x
Short	OKX UNI-USDT-SWAP	9.0310	0.0074	get 0.0074% / 8h	53m 38s	$55.7M	$248.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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

Position, each leg$Hold fordaysFee Polymarket PerpsbpFee OKXbpOrdersPrice spread, now +0.027%Rate

Funding earned: −$5.43
Price spread: +0.027% → −0.075%: $10.2
Slippage, 4 orders: −$8.4
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee OKX: 5 bp × 2 orders: −$10
Net: −$21.64
Costs to cover: 0.264%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 24 min ago; OKX: live order book, 5 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 Polymarket Perps live order book, 24 min ago	2.25 bp	8.0 bp −$8	10.8 bp −$108	doesn't fit	doesn't fit
Sell OKX live order book, 5 min ago	0.56 bp	6.5 bp −$7	13.1 bp −$131	80.7 bp −$8,074	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
Injective UNI/USDC PERP	−0.0049%	1h	8.8300	−2.200%	$660	$155K	12x	as long as short
Variational Omni UNI	−0.0010%	8h	9.0073	−0.236%	$4.0M	$4.4M	—	as long as short
dYdX UNI-USD	0.0000%	1h	9.0265	−0.024%	$250K	$6K	10x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0004%	1h	9.0294	+0.009%	$63K	—	150x	as long as short
Bybit UNIUSDT	+0.0042%	8h	9.0250	−0.040%	$103.0M	$103.7M	75x	as long as short
OKX UNI-USDT-SWAPshort	+0.0074%	8h	9.0310	+0.027%	$55.7M	$248.1M	50x
Paradex UNI-USD-PERP	+0.0100%	8h	9.0230	−0.062%	$26K	—	20x	as long as short
Nado UNI-PERP	+0.0100%	1h	9.0175	−0.123%	$956K	$4.1M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	9.0352	+0.073%	$1.1M	$3.3M	50x	as long as short
Pacifica UNI	+0.0100%	1h	9.0300	+0.016%	$301K	$586K	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance UNIUSDT	+0.0100%	8h	9.0290	+0.004%	$222.6M	$585.4M	75x	as long as short
Arcus UNI-USD	+0.0100%	1h	9.0380	+0.104%	$279K	$619K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	9.0300	+0.016%	$23.2M	$57.6M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	9.0290	+0.004%	$43.6M	$23.7M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	9.0270	−0.018%	$13.7M	$13.5M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	9.0270	−0.018%	$32.8M	$41.3M	75x	as long as short
BingX UNI-USDT	+0.0100%	8h	9.0310	+0.027%	—	$51.7M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	9.0073	−0.236%	$169K	$342K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	9.0062	−0.248%	$627K	$2.5M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	9.0130	−0.173%	$89K	$712K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	9.0300	+0.016%	$108K	$3.2M	20x	as long as short
Polymarket Perps UNI-USDlong	+0.0100%	1h	9.0286	long leg	$88K	$355K	10x
Orderly PERP_UNI_USDC	+0.0100%	8h	9.0310	+0.027%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	9.0371	+0.094%	$37K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	9.0350	+0.071%	$25K	$654K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	9.0332	+0.051%	$739K	$4.3M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	9.0340	+0.060%	$27.2M	$4.4M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	9.0243	−0.048%	$301K	$1.5M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	9.0338	+0.057%	$32K	$1K	3x	as long as short
Backpack UNI_USDC_PERP	+0.0167%	1h	9.0357	+0.079%	$1.0M	$2.3M	10x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0183%	1h	9.0381	+0.105%	$582K	$175K	50x	as long as short
01 Exchange UNIUSD	+0.0216%	1h	9.0281	−0.006%	$451	—	10x	as long as short
BloFin UNI-USDT	+0.0220%	8h	9.0360	+0.082%	$10.0M	$3.4M	75x	as long as short
Coinbase International UNI-PERP-INTX	+0.0232%	1h	9.0290	+0.004%	$1.1M	$5.4M	50x	as long as short
Reya UNIRUSDPERP	+0.0363%	1h	9.0195	−0.101%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0380% / S −0.0320%	1h	9.0277	−0.010%	$567K	—	120x	as long as short
Kraken Futures PF_UNIUSD	+0.0560%	1h	9.0390	+0.116%	$5.1M	$7.0M	50x	as long as short
Aftermath Perps UNIUSD	+0.0710%	1h	9.0010	−0.306%	$1K	$49K	10x	as long as short
Hyperliquid UNI	+0.0793%	1h	9.0427	+0.156%	$99.7M	$58.3M	10x	as long as short
Lighter UNI	+0.1048%	1h	9.0454	+0.186%	$4.6M	$5.1M	15x	as long as short