Funding arb · Price arb /

UNI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0300%/8h= +32.9% APRpaid last 24h +0.037%

Price spread now: ApeX Omni against Variational Omni+0.119%88s7-day average +0.091% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Variational Omni Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.059%+$6 on $10k

Price spread, last 3 days (all we have)−0.028%−$3 · spread now +0.119%, 7d avg +0.091%

Together, before fees+0.031%+ Points / potential airdropVariational Omni: Active · farm board+$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and ApeX Omni is 0.028% dearer against Variational Omni than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.091%. The two prices were read 88 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.059% in total (about 6.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni UNI	8.7965	−0.0200	get 0.0200% / 8h	2h 48m	$3.9M	$4.6M	—
Short	ApeX Omni UNIUSDT	8.8070	0.0100	get 0.0013% / 1h	48m 04s	$83K	$713K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Variational Omni. 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 Variational OmnibpFee ApeX OmnibpOrdersPrice spread, now +0.119%Rate

Funding earned: $63.04
Price spread: +0.119% → +0.091%: $2.76
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: $55.8
Costs to cover: 0.100%
Break-even: 0.8 days

Slippage unknown: Variational Omni: RFQ quote, 1 min ago; ApeX Omni: live order book, 40 min ago. Net counts fees only.

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 Variational Omni RFQ quote, 1 min ago	3.28 bp	doesn't fit	12.6 bp −$126	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 40 min ago	5.09 bp	12.6 bp −$13	104.5 bp −$1,045	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
Variational Omni UNIlong	−0.0200%	8h	8.7965	long leg	$3.9M	$4.6M	—
Bybit UNIUSDT	−0.0188%	8h	8.8210	+0.278%	$102.7M	$103.8M	75x	as long as short
01 Exchange UNIUSD	−0.0040%	1h	8.8176	+0.239%	$440	—	10x	as long as short
Deribit UNI_USDC-PERPETUAL	0.0000%	1h	8.8307	+0.388%	$551K	$125K	50x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0006%	1h	8.8197	+0.264%	$79K	—	150x	as long as short
OKX UNI-USDT-SWAP	+0.0007%	8h	8.8220	+0.289%	$54.3M	$244.7M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.8155	+0.216%	$25K	—	20x	as long as short
Nado UNI-PERP	+0.0100%	1h	8.8092	+0.144%	$848K	$3.9M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.8283	+0.361%	$1.0M	$3.4M	50x	as long as short
Pacifica UNI	+0.0100%	1h	8.8155	+0.215%	$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	8.8240	+0.312%	$216.1M	$593.3M	75x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.8230	+0.301%	$272K	$605K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.8200	+0.267%	$22.9M	$58.9M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.8190	+0.255%	$42.7M	$24.4M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.8250	+0.323%	$13.7M	$13.6M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.8220	+0.289%	$32.0M	$40.9M	75x	as long as short
BingX UNI-USDT	+0.0100%	8h	8.8200	+0.267%	—	$49.8M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	8.8258	+0.333%	$977K	$2.4M	10x	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.8216	+0.285%	$166K	$343K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.8123	+0.179%	$618K	$2.6M	10x	as long as short
ApeX Omni UNIUSDTshort	+0.0100%	1h	8.8070	+0.119%	$83K	$713K	50x
StandX UNI-USD	+0.0100%	1h	8.8130	+0.187%	$105K	$3.2M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.8150	+0.210%	$86K	$324K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.8210	+0.278%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.8187	+0.252%	$36K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.8231	+0.302%	$28K	$659K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.8420	+0.517%	$722K	$4.3M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.8190	+0.255%	$26.6M	$4.4M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	8.8210	+0.278%	$307K	$1.4M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.8262	+0.337%	$31K	$1K	3x	as long as short
dYdX UNI-USD	+0.0168%	1h	8.8150	+0.210%	$244K	$5K	10x	as long as short
Coinbase International UNI-PERP-INTX	+0.0200%	1h	8.8290	+0.369%	$1.0M	$5.3M	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.8060	+0.107%	$9.8M	$3.3M	75x	as long as short
Kraken Futures PF_UNIUSD	+0.0269%	1h	8.8302	+0.383%	$4.9M	$7.1M	50x	as long as short
Hyperliquid UNI	+0.0354%	1h	8.8346	+0.433%	$95.9M	$59.7M	10x	as long as short
Reya UNIRUSDPERP	+0.0359%	1h	8.8099	+0.152%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0380% / S −0.0320%	1h	8.8188	+0.253%	$553K	—	120x	as long as short
Lighter UNI	+0.0424%	1h	8.8400	+0.494%	$4.5M	$5.3M	15x	as long as short
Aftermath Perps UNIUSD	+0.0477%	1h	8.8171	+0.234%	$1K	$50K	10x	as long as short
Injective UNI/USDC PERP	+0.2702%	1h	8.7900	−0.074%	$657	$97K	12x	as long as short