Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0125%/8h= −13.6% APRpaid last 24h −0.035%

Price spread now: Bybit against SoDEX0.000%7-day average −0.057% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$380.385% of the position

Long on SoDEX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.050%−$5 on $10k

Price spread, last 3 days (all we have)−0.316%−$32 · spread now 0.000%, 7d avg −0.057%

Together, before fees−0.366%−$37 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.057% dearer against SoDEX than usual: you sell high and buy low (spread 0.000% now, against its 7-day average of −0.057%): +$6 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 37 hours. At the pace of the last 3 days (−0.050% in total) that is about 3.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX UNI-USD	8.8230	0.0100	pay 0.0013% / 1h	37m 20s	$25K	$666K	10x
Short	Bybit UNIUSDT	8.8230	−0.0025	pay 0.0025% / 8h	1h 37m	$100.7M	$104.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against SoDEX. 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 SoDEXbpFee BybitbpOrdersPrice spread, now 0.000%Rate

Funding earned: −$26.18
Price spread: 0.000% → −0.057%: $5.73
Slippage, 4 orders: −$19.47
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$58.91
Costs to cover: 0.385%
Break-even: never at this rate

Slippage from SoDEX: live order book, 46 min ago; Bybit: live order book, 2 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 SoDEX live order book, 46 min ago	0.56 bp	8.4 bp −$8	29.7 bp −$297	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	0.57 bp	10.8 bp −$11	16.8 bp −$168	41.8 bp −$4,180	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	−0.0078%	8h	8.8285	+0.062%	$3.9M	$4.6M	—	as long as short
Bybit UNIUSDTshort	−0.0025%	8h	8.8230	0.000%	$100.7M	$104.3M	75x
Deribit UNI_USDC-PERPETUAL	0.0000%	1h	8.8295	+0.073%	$562K	$157K	50x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0004%	1h	8.8277	+0.053%	$61K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.7900	−0.374%	$657	$96K	12x	as long as short
OKX UNI-USDT-SWAP	+0.0037%	8h	8.8220	−0.011%	$54.6M	$243.1M	50x	as long as short
01 Exchange UNIUSD	+0.0040%	1h	8.8322	+0.104%	$441	—	10x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.8268	+0.043%	$25K	—	20x	as long as short
Nado UNI-PERP	+0.0100%	1h	8.8300	+0.079%	$934K	$4.0M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.8336	+0.120%	$1.0M	$3.4M	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	8.8327	+0.110%	$296K	$570K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	8.8240	+0.011%	$216.7M	$588.3M	75x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.8390	+0.181%	$272K	$606K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.8270	+0.045%	$22.9M	$58.4M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.8270	+0.045%	$42.6M	$24.4M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.8230	0.000%	$13.5M	$13.8M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.8220	−0.011%	$32.1M	$41.3M	75x	as long as short
BingX UNI-USDT	+0.0100%	8h	8.8240	+0.011%	—	$51.9M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	8.8367	+0.155%	$978K	$2.3M	10x	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.8429	+0.225%	$166K	$343K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.8390	+0.181%	$613K	$2.5M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.8450	+0.249%	$87K	$713K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.8390	+0.181%	$105K	$3.2M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.8240	+0.011%	$86K	$351K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.8240	+0.011%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.8277	+0.053%	$36K	$1.3M	30x	as long as short
SoDEX UNI-USDlong	+0.0100%	1h	8.8230	long leg	$25K	$666K	10x
HTX UNI-USDT	+0.0100%	8h	8.8420	+0.215%	$726K	$4.3M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.8200	−0.034%	$26.5M	$4.5M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	8.8212	−0.020%	$300K	$1.4M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.8287	+0.064%	$31K	$1K	3x	as long as short
dYdX UNI-USD	+0.0114%	1h	8.8357	+0.144%	$245K	$6K	10x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.8400	+0.193%	$9.8M	$3.3M	75x	as long as short
Coinbase International UNI-PERP-INTX	+0.0224%	1h	8.8300	+0.079%	$1.0M	$5.2M	50x	as long as short
Hyperliquid UNI	+0.0325%	1h	8.8366	+0.154%	$96.7M	$59.1M	10x	as long as short
Kraken Futures PF_UNIUSD	+0.0343%	1h	8.8306	+0.086%	$4.9M	$7.0M	50x	as long as short
Reya UNIRUSDPERP	+0.0362%	1h	8.8207	−0.026%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0379% / S −0.0319%	1h	8.8270	+0.045%	$553K	—	120x	as long as short
Lighter UNI	+0.0592%	1h	8.8471	+0.273%	$4.5M	$5.2M	15x	as long as short
Aftermath Perps UNIUSD	+0.0613%	1h	8.8317	+0.098%	$1K	$49K	10x	as long as short