Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.013%

Price spread now: Coinbase International against SunX−0.074%7-day average −0.042% · you buy dearer than you sell

Net, funding: paid 7d − costs−$83as in the Funding arb table

Net, price: spread back to 7d avg − costs−$67as in the Price arb table

costs, in and out, $10k−$640.639% of the position

Long on SunX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.190%−$19 on $10k

Price spread, last 3 days (all we have)−0.198%−$20 · spread now −0.074%, 7d avg −0.042%

Together, before fees−0.388%−$39 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.031% cheaper against SunX than usual: you would sell low and buy high (spread −0.074% now, against its 7-day average of −0.042%). If the spread goes back, that is −$3 on $10k: about 25 hours of funding at the current rate (+$3 a day). Mind the row above: over the last 7 days funding on this pair cost −0.190%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX UNI-USDT	8.8405	0.0100	pay 0.0100% / 8h	2h 39m	$36K	$1.3M	30x
Short	Coinbase International UNI-PERP-INTX	8.8340	0.0200	get 0.0025% / 1h	39m 18s	$1.0M	$5.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against SunX. 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 SunXbpFee Coinbase InternationalbpOrdersPrice spread, now −0.074%Rate

Funding earned: $21
Price spread: −0.074% → −0.042%: −$3.13
Slippage, 4 orders: −$45.91
Fee SunX: 4 bp × 2 orders: −$8
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$46.04
Costs to cover: 0.639%
Break-even: 22.3 days

Slippage from SunX: live order book, 5 min ago; Coinbase International: 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 SunX live order book, 5 min ago	13.29 bp	17.4 bp −$17	34.5 bp −$345	doesn't fit	doesn't fit
Sell Coinbase International live order book, 5 min ago	5.63 bp	14.9 bp −$15	20.0 bp −$200	62.1 bp −$6,208	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	−0.0193%	8h	8.8610	+0.232%	$3.9M	$4.6M	—	as long as short
Bybit UNIUSDT	−0.0171%	8h	8.8290	−0.130%	$102.1M	$104.4M	75x	as long as short
01 Exchange UNIUSD	−0.0016%	1h	8.8268	−0.155%	$440	—	10x	as long as short
Deribit UNI_USDC-PERPETUAL	0.0000%	1h	8.8357	−0.054%	$552K	$125K	50x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0006%	1h	8.8341	−0.072%	$79K	—	150x	as long as short
OKX UNI-USDT-SWAP	+0.0010%	8h	8.8290	−0.130%	$54.3M	$245.1M	50x	as long as short
dYdX UNI-USD	+0.0095%	1h	8.8341	−0.072%	$245K	$5K	10x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.8248	−0.178%	$25K	—	20x	as long as short
Nado UNI-PERP	+0.0100%	1h	8.8225	−0.204%	$855K	$3.9M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.8374	−0.036%	$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	8.8331	−0.084%	$295K	$561K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	8.8250	−0.175%	$216.0M	$593.6M	75x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.8350	−0.062%	$272K	$611K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.8350	−0.062%	$22.9M	$59.0M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.8360	−0.051%	$42.7M	$24.5M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.8270	−0.153%	$13.8M	$13.6M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.8310	−0.107%	$31.9M	$41.0M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	8.8320	−0.096%	—	$6.5M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	8.8676	+0.307%	$984K	$2.3M	10x	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.8598	+0.218%	$167K	$342K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.8604	+0.225%	$625K	$2.6M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.8660	+0.288%	$84K	$711K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.8640	+0.266%	$105K	$3.2M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.8354	−0.058%	$87K	$325K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.8340	−0.074%	$16K	$1.7M	10x	as long as short
SunX UNI-USDTlong	+0.0100%	8h	8.8405	long leg	$36K	$1.3M	30x
SoDEX UNI-USD	+0.0100%	1h	8.8240	−0.187%	$25K	$661K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.8420	+0.017%	$722K	$4.3M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.8300	−0.119%	$26.6M	$4.3M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	8.8265	−0.159%	$299K	$1.4M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.8345	−0.068%	$31K	$1K	3x	as long as short
Coinbase International UNI-PERP-INTXshort	+0.0200%	1h	8.8340	−0.074%	$1.0M	$5.3M	50x
BloFin UNI-USDT	+0.0220%	8h	8.8230	−0.198%	$9.7M	$3.3M	75x	as long as short
Kraken Futures PF_UNIUSD	+0.0269%	1h	8.8328	−0.087%	$4.9M	$7.1M	50x	as long as short
Hyperliquid UNI	+0.0349%	1h	8.8463	+0.066%	$96.2M	$59.8M	10x	as long as short
Reya UNIRUSDPERP	+0.0359%	1h	8.8318	−0.099%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0379% / S −0.0320%	1h	8.8328	−0.087%	$554K	—	120x	as long as short
Aftermath Perps UNIUSD	+0.0468%	1h	8.8478	+0.083%	$1K	$50K	10x	as long as short
Lighter UNI	+0.0496%	1h	8.8429	+0.027%	$4.5M	$5.4M	15x	as long as short
Injective UNI/USDC PERP	+0.2702%	1h	8.7900	−0.571%	$657	$97K	12x	as long as short