Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0104%/8h= −11.4% APRpaid last 24h −0.002%

Price spread now: Nado against SunX−0.022%7-day average −0.101% · 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−$39as in the Price arb table

costs, in and out, $10k−$470.467% of the position

Long on SunX Short on Nado

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.001%$0 on $10k

Price spread, last 4 days (all we have)−0.196%−$20 · spread now −0.022%, 7d avg −0.101%

Together, before fees−0.197%+ Points / potential airdropNado: Active · farm board−$20 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Nado is 0.079% dearer against SunX than usual: you sell high and buy low (spread −0.022% now, against its 7-day average of −0.101%): +$8 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.5 days. At the pace of the last 4 days (−0.001% in total) that is about 8 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX UNI-USDT	8.9232	0.0100	pay 0.0100% / 8h	47m 04s	$36K	$1.4M	30x
Short	Nado UNI-PERP	8.9212	−0.0004	pay 0.0000% / 1h	47m 04s	$732K	$4.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.022%Rate

Funding earned: −$21.79
Price spread: −0.022% → −0.101%: $7.93
Slippage, 4 orders: −$31.73
Fee SunX: 4 bp × 2 orders: −$8
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$60.59
Costs to cover: 0.467%
Break-even: never at this rate

Slippage from SunX: live order book, 7 min ago; Nado: 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 SunX live order book, 7 min ago	13.83 bp	17.8 bp −$18	35.2 bp −$352	doesn't fit	doesn't fit
Sell Nado live order book, 2 min ago	0.95 bp	5.6 bp −$6	13.0 bp −$130	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
Kraken Futures PF_UNIUSD	−0.0304%	1h	8.9267	+0.040%	$4.7M	$8.6M	50x	as long as short
01 Exchange UNIUSD	−0.0040%	1h	8.9218	−0.016%	$445	$5	10x	as long as short
Nado UNI-PERPshort	−0.0004%	1h	8.9212	−0.022%	$732K	$4.7M	10x
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0007%	1h	8.9264	+0.036%	$49K	—	150x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0012%	1h	8.9287	+0.061%	$588K	$250K	50x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−1.044%	$660	$153K	12x	as long as short
Polymarket Perps UNI-USD	+0.0069%	1h	8.9233	+0.001%	$106K	$616K	10x	as long as short
Lighter UNI	+0.0096%	1h	8.9333	+0.113%	$4.5M	$5.5M	15x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.9151	−0.091%	$25K	—	20x	as long as short
Hyperliquid UNI	+0.0100%	1h	8.9266	+0.038%	$95.0M	$67.5M	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster UNIUSDT	+0.0100%	8h	8.9200	−0.036%	$730K	$3.6M	50x	as long as short
Pacifica UNI	+0.0100%	1h	8.9205	−0.030%	$288K	$600K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	8.9138	−0.106%	$215.3M	$657.8M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	8.9110	−0.137%	$98.7M	$111.3M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	8.9100	−0.148%	$54.4M	$265.6M	50x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.9240	+0.009%	$318K	$701K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.9170	−0.069%	$25.5M	$65.8M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.9200	−0.036%	$48.7M	$26.1M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.9230	−0.002%	$13.1M	$13.3M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.9100	−0.148%	$32.6M	$45.4M	75x	as long as short
BingX UNI-USDT	+0.0100%	8h	8.9150	−0.092%	—	$57.1M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	8.9215	−0.019%	$1.1M	$2.4M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	8.8798	−0.487%	$4.1M	$4.3M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.8883	−0.391%	$168K	$347K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.8828	−0.453%	$628K	$2.7M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.9170	−0.069%	$90K	$709K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.9240	+0.009%	$15K	$3.4M	20x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.9260	+0.031%	$16K	$2.1M	10x	as long as short
SunX UNI-USDTlong	+0.0100%	8h	8.9232	long leg	$36K	$1.4M	30x
SoDEX UNI-USD	+0.0100%	1h	8.9200	−0.036%	$32K	$888K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.9267	+0.039%	$698K	$4.8M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.9200	−0.036%	$26.9M	$4.5M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	8.9178	−0.060%	$288K	$1.7M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.9222	−0.011%	$32K	—	3x	as long as short
Coinbase International UNI-PERP-INTX	+0.0200%	1h	8.9270	+0.043%	$930K	$5.5M	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.9200	−0.036%	$10.0M	$3.7M	75x	as long as short
Reya UNIRUSDPERP	+0.0380%	1h	8.9216	−0.017%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0243%	1h	8.9260	+0.031%	$635K	—	120x	as long as short
Aftermath Perps UNIUSD	+0.0451%	1h	8.8987	−0.274%	$1K	$53K	10x	as long as short
dYdX UNI-USD	+0.0571%	1h	8.9172	−0.067%	$235K	$30K	10x	as long as short