Funding arb · Price arb /

UNI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0130%/8h= +14.2% APRpaid last 24h +0.041%

Price spread now: Backpack against Variational Omni+0.097%7-day average +0.507% · you sell dearer than you buy

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

Long on Variational Omni Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.072%+$7 on $10k

Price spread, last 7 days−0.094%−$9 · spread now +0.097%, 7d avg +0.507%

Together, before fees−0.022%+ Points / potential airdropVariational Omni: Active · farm board−$2 on $10k · with fees, hour by hour

Funding pays, the price is against you. Backpack is 0.410% cheaper against Variational Omni than usual: you would sell low and buy high (spread +0.097% now, against its 7-day average of +0.507%). If the spread goes back, that is −$41 on $10k: about 11 days of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni UNI	8.9413	−0.0030	get 0.0030% / 8h	1h 02m	$4.0M	$4.6M	—
Short	Backpack UNI_USDC_PERP	8.9500	0.0100	get 0.0013% / 1h	2m 24s	$994K	$2.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BackpackbpOrdersPrice spread, now +0.097%Rate

Funding earned: $27.22
Price spread: +0.097% → +0.507%: −$41
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$23.78
Costs to cover: 0.100%
Break-even: 13.1 days

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Backpack: live order book, 2 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, 2 min ago	3.26 bp	doesn't fit	9.4 bp −$94	doesn't fit	doesn't fit
Sell Backpack live order book, 2 min ago	0.06 bp	7.7 bp −$8	175.5 bp −$1,755	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	−0.0030%	8h	8.9413	long leg	$4.0M	$4.6M	—
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0004%	1h	8.9704	+0.325%	$62K	—	150x	as long as short
Bybit UNIUSDT	+0.0024%	8h	8.9670	+0.288%	$102.5M	$105.0M	75x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−1.245%	$660	$155K	12x	as long as short
OKX UNI-USDT-SWAP	+0.0061%	8h	8.9630	+0.243%	$55.3M	$247.9M	50x	as long as short
01 Exchange UNIUSD	+0.0088%	1h	8.9664	+0.281%	$447	—	10x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.9588	+0.196%	$26K	—	20x	as long as short
Nado UNI-PERP	+0.0100%	1h	8.9615	+0.226%	$950K	$4.1M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.9700	+0.321%	$1.0M	$3.3M	50x	as long as short
Pacifica UNI	+0.0100%	1h	8.9720	+0.344%	$298K	$584K	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	8.9713	+0.336%	$220.8M	$592.1M	75x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.9720	+0.343%	$277K	$621K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.9680	+0.299%	$23.1M	$59.1M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.9710	+0.332%	$43.2M	$24.7M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.9710	+0.332%	$13.7M	$13.8M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.9630	+0.243%	$32.5M	$41.4M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	8.9680	+0.299%	—	$6.5M	—	as long as short
Backpack UNI_USDC_PERPshort	+0.0100%	1h	8.9500	+0.097%	$994K	$2.3M	10x
edgeX UNIUSDC	+0.0100%	4h	8.9590	+0.198%	$168K	$344K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.9616	+0.227%	$628K	$2.5M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.9370	−0.048%	$88K	$713K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.9520	+0.120%	$107K	$3.2M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.9688	+0.308%	$87K	$356K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.9500	+0.097%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.9542	+0.144%	$36K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.9510	+0.109%	$25K	$663K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.9654	+0.270%	$733K	$4.3M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.9530	+0.131%	$27.0M	$4.4M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	8.9553	+0.156%	$302K	$1.5M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.9654	+0.269%	$32K	$1K	3x	as long as short
dYdX UNI-USD	+0.0113%	1h	8.9717	+0.341%	$248K	$6K	10x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0116%	1h	8.9544	+0.147%	$569K	$157K	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.9480	+0.075%	$9.9M	$3.4M	75x	as long as short
Coinbase International UNI-PERP-INTX	+0.0224%	1h	8.9580	+0.187%	$1.1M	$5.3M	50x	as long as short
Kraken Futures PF_UNIUSD	+0.0338%	1h	8.9595	+0.204%	$5.0M	$7.0M	50x	as long as short
Reya UNIRUSDPERP	+0.0363%	1h	8.9630	+0.242%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0380% / S −0.0320%	1h	8.9687	+0.307%	$563K	—	120x	as long as short
Hyperliquid UNI	+0.0457%	1h	8.9808	+0.442%	$98.8M	$59.4M	10x	as long as short
Lighter UNI	+0.0672%	1h	8.9882	+0.525%	$4.6M	$5.2M	15x	as long as short
Aftermath Perps UNIUSD	+0.0677%	1h	8.9556	+0.160%	$1K	$49K	10x	as long as short