Funding arb · Price arb /

UVXY

RWAall UVXY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Phemex against Bybit−0.116%53s7-day average −0.065% · you buy dearer than you sell

Net, funding: paid 7d − costs−$286as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$3073.072% of the position

Long on Bybit Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.213%+$21 on $10k

Price spread, last 4 days (all we have)+0.021%+$2 · spread now −0.116%, 7d avg −0.065%

Together, before fees+0.234%+$23 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.051% cheaper against Bybit than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.065%. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit UVXYUSDT	17.240	0	get 0.0000% / 8h	16m 22s	$1.1M	$188K	25x
Short	Phemex UVXYUSDT	17.220	0	get 0.0000% / 8h	16m 22s	$1.2M	$115K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Bybit. 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 BybitbpFee PhemexbpOrdersPrice spread, now −0.116%Rate

Funding earned: $0
Price spread: −0.116% → −0.065%: −$5.07
Slippage, 4 orders: −$284.23
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$312.3
Costs to cover: 3.072%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; Phemex: live order book, 1 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 Bybit live order book, 4 min ago	5.80 bp	101.0 bp −$101	230.0 bp −$2,300	doesn't fit	doesn't fit
Sell Phemex live order book, 1 min ago	2.90 bp	52.3 bp −$52	doesn't fit	doesn't fit	doesn't fit

UVXY on 14 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
Aster UVXYUSDT	0.0000%	8h	17.180	−0.348%	$6K	$1K	20x	as long as short
Bybit UVXYUSDTlong	0.0000%	8h	17.240	long leg	$1.1M	$188K	25x
Gate UVXY_USDT	0.0000%	8h	17.240	0.000%	$377K	$206K	20x	as long as short
Bitget UVXYUSDT	0.0000%	8h	17.197	−0.249%	$795K	$243K	20x	as long as short
SunX UVXY-USDT	0.0000%	8h	17.220	−0.116%	$1K	$311K	10x	as long as short
HTX UVXY-USDT	0.0000%	8h	17.270	+0.174%	$11K	$3K	10x	as long as short
Phemex UVXYUSDTshort	0.0000%	8h	17.220	−0.116%	$1.2M	$115K	10x
OKX UVXY-USDT-SWAP	+0.0361%	8h	17.220	−0.116%	$388K	$351K	20x	as long as short
KuCoin UVXYUSDTM	+0.0438%	8h	17.240	0.000%	$162K	$807K	20x	as long as short
Variational Omni UVXY	+0.0549%	8h	17.222	−0.104%	$97K	$8K	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin UVXY-USDT	+0.0647%	8h	17.220	−0.116%	$62K	$3K	20x	as long as short
MEXC UVXY_USDT	+0.0670%	8h	17.210	−0.174%	$883K	$148K	20x	as long as short
Binance UVXYUSDT	+0.0679%	8h	17.225	−0.090%	$2.1M	$1.5M	20x	as long as short
GRVT UVXY_USDT_Perp	+0.0998%	8h	17.220	−0.115%	$6K	$152K	10x	as long as short