Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Phemex against SoDEX−0.050%7-day average +0.034% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$76as in the Price arb table

costs, in and out, $10k−$680.680% of the position

Long on SoDEX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.004%$0 on $10k

Price spread, last 3 days (all we have)+0.055%+$6 · spread now −0.050%, 7d avg +0.034%

Together, before fees+0.052%+$5 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: Phemex is 0.084% cheaper against SoDEX than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.034%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX UNI-USD	9.0635	0.0100	pay 0.0013% / 1h	47m 13s	$25K	$669K	10x
Short	Phemex UNIUSDT	9.0590	0.0100	get 0.0100% / 8h	47m 13s	$27.3M	$4.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.050%Rate

Funding earned: $0
Price spread: −0.050% → +0.034%: −$8.39
Slippage, 4 orders: −$48.02
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$76.4
Costs to cover: 0.680%
Break-even: never at this rate

Slippage from SoDEX: live order book, 31 min ago; Phemex: 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, 31 min ago	0.56 bp	10.1 bp −$10	27.5 bp −$275	129.2 bp −$12.9K	doesn't fit
Sell Phemex live order book, 2 min ago	10.39 bp	21.6 bp −$22	28.3 bp −$283	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
Injective UNI/USDC PERP	−0.0049%	1h	8.8300	−2.576%	$660	$155K	12x	as long as short
Deribit UNI_USDC-PERPETUAL	0.0000%	1h	9.0608	−0.030%	$583K	$175K	50x	as long as short
Variational Omni UNI	+0.0002%	8h	9.1084	+0.495%	$4.0M	$4.3M	—	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0004%	1h	9.0544	−0.101%	$63K	—	150x	as long as short
dYdX UNI-USD	+0.0047%	1h	9.0850	+0.237%	$252K	$6K	10x	as long as short
Bybit UNIUSDT	+0.0054%	8h	9.0540	−0.105%	$103.3M	$104.4M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0082%	8h	9.0560	−0.083%	$55.8M	$250.2M	50x	as long as short
Nado UNI-PERP	+0.0100%	1h	9.0605	−0.033%	$975K	$4.1M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	9.0745	+0.122%	$1.0M	$3.3M	50x	as long as short
Pacifica UNI	+0.0100%	1h	9.0934	+0.330%	$302K	$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	9.0559	−0.083%	$224.1M	$588.0M	75x	as long as short
Arcus UNI-USD	+0.0100%	1h	9.0870	+0.259%	$280K	$620K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	9.0620	−0.017%	$23.3M	$58.1M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	9.0590	−0.050%	$43.6M	$23.9M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	9.0640	+0.006%	$13.8M	$13.5M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	9.0590	−0.050%	$32.9M	$41.8M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	9.0540	−0.105%	—	$6.5M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	9.1605	+1.070%	$172K	$344K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	9.1401	+0.845%	$646K	$2.5M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	9.1120	+0.535%	$90K	$713K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	9.1200	+0.623%	$36K	$3.3M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	9.0685	+0.055%	$88K	$356K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	9.0570	−0.072%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	9.0680	+0.050%	$37K	$1.3M	30x	as long as short
SoDEX UNI-USDlong	+0.0100%	1h	9.0635	long leg	$25K	$669K	10x
HTX UNI-USDT	+0.0100%	8h	9.0760	+0.138%	$740K	$4.3M	75x	as long as short
Phemex UNIUSDTshort	+0.0100%	8h	9.0590	−0.050%	$27.3M	$4.4M	50x
Paradex UNI-USD-PERP	+0.0100%	8h	9.0778	+0.158%	$26K	—	20x	as long as short
Extended UNI-USD	+0.0104%	1h	9.0566	−0.076%	$314K	$1.5M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	9.0638	+0.003%	$32K	$1K	3x	as long as short
BloFin UNI-USDT	+0.0220%	8h	9.0640	+0.006%	$10.0M	$3.5M	75x	as long as short
01 Exchange UNIUSD	+0.0232%	1h	9.0738	+0.114%	$453	—	10x	as long as short
Coinbase International UNI-PERP-INTX	+0.0232%	1h	9.0660	+0.028%	$1.1M	$5.4M	50x	as long as short
Backpack UNI_USDC_PERP	+0.0276%	1h	9.1130	+0.546%	$1.0M	$2.4M	10x	as long as short
Reya UNIRUSDPERP	+0.0363%	1h	9.0618	−0.019%	$17K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0380% / S −0.0320%	1h	9.0544	−0.101%	$570K	—	120x	as long as short
Kraken Futures PF_UNIUSD	+0.0558%	1h	9.0686	+0.057%	$5.1M	$7.0M	50x	as long as short
Aftermath Perps UNIUSD	+0.0771%	1h	9.0803	+0.185%	$1K	$49K	10x	as long as short
Hyperliquid UNI	+0.0893%	1h	9.0772	+0.151%	$100.2M	$58.9M	10x	as long as short
Lighter UNI	+0.1104%	1h	9.0723	+0.097%	$4.6M	$5.2M	15x	as long as short