Funding arb · Price arb /

UNI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0093%/8h= +10.2% APRpaid last 24h +0.027%

Price spread now: Deribit against Variational Omni−0.235%7-day average +0.085% · you buy dearer than you sell

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

Long on Variational Omni Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.088%+$9 on $10k

Price spread, last 4 days (all we have)+1.100%+$110 · spread now −0.235%, 7d avg +0.085%

Together, before fees+1.189%+ Points / potential airdropVariational Omni: Active · farm board+$119 on $10k · with fees, hour by hour

Funding pays, the price is against you. Deribit is 0.320% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.235% now, against its 7-day average of +0.085%). If the spread goes back, that is −$32 on $10k: about 11 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni UNI	9.1490	0.0100	pay 0.0100% / 8h	4h 53m	$4.3M	$4.3M	—
Short	Deribit UNI_USDC-PERPETUAL	9.1275	0.0193	get 0.0024% / 1h	53m 47s	$585K	$193K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.235%Rate

Funding earned: $19.53
Price spread: −0.235% → +0.085%: −$31.97
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$19.44
Costs to cover: 0.070%
Break-even: 14.0 days

Slippage unknown: Variational Omni: RFQ quote, just now; Deribit: live order book, 5 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, just now	3.25 bp	doesn't fit	15.5 bp −$155	doesn't fit	doesn't fit
Sell Deribit live order book, 5 min ago	8.16 bp	13.2 bp −$13	40.9 bp −$409	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
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0004%	1h	9.1268	−0.243%	$37K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−3.487%	$660	$154K	12x	as long as short
01 Exchange UNIUSD	+0.0056%	1h	9.1281	−0.228%	$455	$5	10x	as long as short
Nado UNI-PERP	+0.0100%	1h	9.1230	−0.284%	$920K	$4.3M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	9.1307	−0.200%	$1.0M	$2.9M	50x	as long as short
Pacifica UNI	+0.0100%	1h	9.1273	−0.238%	$298K	$589K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	9.1210	−0.306%	$225.7M	$625.7M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	9.1160	−0.361%	$102.4M	$110.6M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	9.1180	−0.339%	$56.0M	$258.1M	50x	as long as short
Arcus UNI-USD	+0.0100%	1h	9.1320	−0.186%	$289K	$618K	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate UNI_USDT	+0.0100%	8h	9.1180	−0.339%	$23.1M	$62.0M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	9.1210	−0.306%	$48.8M	$25.2M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	9.1200	−0.317%	$13.7M	$13.1M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	9.1160	−0.361%	$33.5M	$43.9M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	9.1210	−0.306%	—	$6.5M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	9.1272	−0.238%	$1.0M	$2.3M	10x	as long as short
Variational Omni UNIlong	+0.0100%	8h	9.1490	long leg	$4.3M	$4.3M	—
edgeX UNIUSDC	+0.0100%	4h	9.0960	−0.579%	$171K	$343K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	9.1208	−0.308%	$635K	$2.7M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	9.0950	−0.590%	$89K	$694K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	9.1330	−0.175%	$36K	$3.3M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	9.1271	−0.239%	$88K	$422K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	9.1210	−0.306%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	9.1317	−0.189%	$37K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	9.1267	−0.244%	$22K	$781K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	9.1304	−0.203%	$718K	$4.5M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	9.1260	−0.251%	$27.6M	$4.5M	50x	as long as short
Paradex UNI-USD-PERP	+0.0101%	8h	9.1190	−0.328%	$26K	—	20x	as long as short
Extended UNI-USD	+0.0104%	1h	9.1146	−0.376%	$301K	$1.6M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	9.1231	−0.283%	$32K	—	3x	as long as short
Deribit UNI_USDC-PERPETUALshort	+0.0193%	1h	9.1275	−0.235%	$585K	$193K	50x
dYdX UNI-USD	+0.0205%	1h	9.1234	−0.279%	$240K	$30K	10x	as long as short
BloFin UNI-USDT	+0.0220%	8h	9.1270	−0.240%	$10.4M	$3.6M	75x	as long as short
Coinbase International UNI-PERP-INTX	+0.0248%	1h	9.1340	−0.164%	$1.1M	$5.4M	50x	as long as short
Kraken Futures PF_UNIUSD	+0.0268%	1h	9.1327	−0.178%	$5.1M	$7.8M	50x	as long as short
Reya UNIRUSDPERP	+0.0371%	1h	9.1228	−0.287%	$17K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0244%	1h	9.1258	−0.253%	$650K	—	120x	as long as short
Lighter UNI	+0.0416%	1h	9.1385	−0.115%	$4.6M	$5.8M	15x	as long as short
Hyperliquid UNI	+0.0543%	1h	9.1325	−0.180%	$99.3M	$61.4M	10x	as long as short
Aftermath Perps UNIUSD	+0.1010%	1h	9.1347	−0.156%	$1K	$46K	10x	as long as short