Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0356%/8h= +39.0% APRpaid last 24h +0.162%

Price spread now: Lighter against SunX+0.067%7-day average +0.096% · you sell dearer than you buy

Net, funding: paid 7d − costs−$22as in the Funding arb table

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$480.482% of the position

Long on SunX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.260%+$26 on $10k

Price spread, last 3 days (all we have)−0.298%−$30 · spread now +0.067%, 7d avg +0.096%

Together, before fees−0.038%+ Points / potential airdropLighter: Season 3 · farm board−$4 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.029% cheaper against SunX than usual: you would sell low and buy high (spread +0.067% now, against its 7-day average of +0.096%). If the spread goes back, that is −$3 on $10k: about 7 hours of funding at the current rate (+$11 a day). At the pace of the last 7 days (+0.260% in total) that is about 19 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX UNI-USDT	8.8415	0.0100	pay 0.0100% / 8h	2h 45m	$36K	$1.3M	30x
Short	Lighter UNI	8.8474	0.0456	get 0.0057% / 1h	45m 44s	$4.5M	$5.3M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.067%Rate

Funding earned: $74.76
Price spread: +0.067% → +0.096%: −$2.9
Slippage, 4 orders: −$40.19
Fee SunX: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: $23.67
Costs to cover: 0.482%
Break-even: 4.8 days

Slippage from SunX: live order book, 8 min ago; Lighter: live order book, 7 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, 8 min ago	13.86 bp	17.9 bp −$18	34.6 bp −$346	doesn't fit	doesn't fit
Sell Lighter live order book, 7 min ago	0.68 bp	2.8 bp −$3	9.7 bp −$97	99.0 bp −$9,897	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	−0.0200%	8h	8.7965	−0.508%	$3.9M	$4.6M	—	as long as short
Bybit UNIUSDT	−0.0184%	8h	8.8250	−0.187%	$102.6M	$103.9M	75x	as long as short
01 Exchange UNIUSD	−0.0040%	1h	8.8380	−0.040%	$441	—	10x	as long as short
Deribit UNI_USDC-PERPETUAL	0.0000%	1h	8.8446	+0.035%	$552K	$125K	50x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0006%	1h	8.8408	−0.008%	$80K	—	150x	as long as short
OKX UNI-USDT-SWAP	+0.0005%	8h	8.8260	−0.175%	$54.4M	$244.8M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.8291	−0.141%	$25K	—	20x	as long as short
Nado UNI-PERP	+0.0100%	1h	8.8290	−0.141%	$848K	$3.9M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.8485	+0.079%	$1.0M	$3.4M	50x	as long as short
Pacifica UNI	+0.0100%	1h	8.8303	−0.126%	$296K	$559K	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	8.8289	−0.143%	$216.3M	$593.0M	75x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.8390	−0.028%	$273K	$610K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.8360	−0.062%	$22.9M	$58.9M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.8280	−0.153%	$42.8M	$24.4M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.8300	−0.130%	$13.8M	$13.6M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.8270	−0.164%	$31.9M	$41.0M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	8.8290	−0.141%	—	$6.5M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	8.8409	−0.007%	$977K	$2.4M	10x	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.8078	−0.381%	$166K	$343K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.8080	−0.379%	$613K	$2.6M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.8070	−0.390%	$83K	$713K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.8170	−0.277%	$105K	$3.2M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.8378	−0.042%	$87K	$324K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.8370	−0.051%	$16K	$1.7M	10x	as long as short
SunX UNI-USDTlong	+0.0100%	8h	8.8415	long leg	$36K	$1.3M	30x
SoDEX UNI-USD	+0.0100%	1h	8.8353	−0.070%	$28K	$659K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.8461	+0.052%	$721K	$4.3M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.8350	−0.074%	$26.6M	$4.4M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	8.8284	−0.148%	$299K	$1.4M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.8384	−0.035%	$31K	$1K	3x	as long as short
dYdX UNI-USD	+0.0132%	1h	8.8379	−0.041%	$245K	$5K	10x	as long as short
Coinbase International UNI-PERP-INTX	+0.0200%	1h	8.8450	+0.040%	$1.0M	$5.3M	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.8250	−0.187%	$9.8M	$3.3M	75x	as long as short
Kraken Futures PF_UNIUSD	+0.0269%	1h	8.8437	+0.025%	$4.9M	$7.1M	50x	as long as short
Hyperliquid UNI	+0.0337%	1h	8.8444	+0.033%	$96.1M	$59.8M	10x	as long as short
Reya UNIRUSDPERP	+0.0359%	1h	8.8334	−0.092%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0380% / S −0.0320%	1h	8.8410	−0.006%	$554K	—	120x	as long as short
Lighter UNIshort	+0.0456%	1h	8.8474	+0.067%	$4.5M	$5.3M	15x
Aftermath Perps UNIUSD	+0.0465%	1h	8.8229	−0.210%	$1K	$50K	10x	as long as short
Injective UNI/USDC PERP	+0.2702%	1h	8.7900	−0.582%	$657	$97K	12x	as long as short