Funding arb · Price arb /

UVXY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bitget against Phemex−0.174%7-day average −0.136% · you buy dearer than you sell

Net, funding: paid 7d − costs−$233as in the Funding arb table

Net, price: spread back to 7d avg − costs−$218as in the Price arb table

costs, in and out, $10k−$2142.138% of the position

Long on Phemex Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.189%−$19 on $10k

Price spread, last 4 days (all we have)+0.493%+$49 · spread now −0.174%, 7d avg −0.136%

Together, before fees+0.305%+$30 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: Bitget is 0.038% cheaper against Phemex than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.136%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex UVXYUSDT	17.260	0	get 0.0000% / 8h	7h 37m	$1.2M	$117K	10x
Short	Bitget UVXYUSDT	17.230	0	get 0.0000% / 8h	7h 37m	$796K	$238K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Phemex. 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 PhemexbpFee BitgetbpOrdersPrice spread, now −0.174%Rate

Funding earned: $0
Price spread: −0.174% → −0.136%: −$3.81
Slippage, 4 orders: −$189.83
Fee Phemex: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$217.64
Costs to cover: 2.138%
Break-even: never at this rate

Slippage from Phemex: live order book, 5 min ago; Bitget: live order book, 18 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 Phemex live order book, 5 min ago	5.79 bp	52.4 bp −$52	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 18 min ago	10.44 bp	68.4 bp −$68	93.2 bp −$932	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	17.239	−0.119%	$6K	$1K	20x	as long as short
Bybit UVXYUSDT	0.0000%	8h	17.280	+0.116%	$1.1M	$183K	25x	as long as short
Gate UVXY_USDT	0.0000%	8h	17.240	−0.116%	$394K	$227K	20x	as long as short
Bitget UVXYUSDTshort	0.0000%	8h	17.230	−0.174%	$796K	$238K	20x
SunX UVXY-USDT	0.0000%	8h	17.250	−0.058%	$887	$315K	10x	as long as short
Phemex UVXYUSDTlong	0.0000%	8h	17.260	long leg	$1.2M	$117K	10x
HTX UVXY-USDT	+0.0395%	8h	17.260	0.000%	$11K	$3K	10x	as long as short
OKX UVXY-USDT-SWAP	+0.0639%	8h	17.260	0.000%	$390K	$361K	20x	as long as short
KuCoin UVXYUSDTM	+0.0782%	8h	17.270	+0.058%	$162K	$835K	20x	as long as short
Variational Omni UVXY	+0.0939%	8h	17.257	−0.016%	$97K	$7K	—	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	+0.1020%	8h	17.240	−0.116%	$62K	$3K	20x	as long as short
MEXC UVXY_USDT	+0.1035%	8h	17.240	−0.116%	$884K	$86K	20x	as long as short
Binance UVXYUSDT	+0.1045%	8h	17.250	−0.058%	$2.1M	$1.5M	20x	as long as short
GRVT UVXY_USDT_Perp	+0.3358%	8h	17.260	0.000%	$6K	$151K	10x	as long as short