Funding arb · Price arb /

UNI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.003%

Price spread now: ApeX Omni against Backpack−0.182%7-day average +0.028% · you buy dearer than you sell

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$59as in the Price arb table

costs, in and out, $10k−$380.382% of the position

Long on Backpack Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 3 days (all we have)+0.195%+$19 · spread now −0.182%, 7d avg +0.028%

Together, before fees+0.195%+$19 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: ApeX Omni is 0.210% cheaper against Backpack than usual: you would sell low and buy high, −$21 on $10k if it goes back to its 7-day average of +0.028%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack UNI_USDC_PERP	8.8902	0.0100	pay 0.0013% / 1h	20m 44s	$987K	$2.3M	10x
Short	ApeX Omni UNIUSDT	8.8740	0.0100	get 0.0013% / 1h	20m 44s	$88K	$712K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Backpack. 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 BackpackbpFee ApeX OmnibpOrdersPrice spread, now −0.182%Rate

Funding earned: $0
Price spread: −0.182% → +0.028%: −$21.04
Slippage, 4 orders: −$18.24
Fee Backpack: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$59.28
Costs to cover: 0.382%
Break-even: never at this rate

Slippage from Backpack: live order book, 3 min ago; ApeX Omni: live order book, 63 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 Backpack live order book, 3 min ago	0.06 bp	5.7 bp −$6	72.5 bp −$725	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 63 min ago	5.05 bp	13.1 bp −$13	88.5 bp −$885	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 UNI	−0.0057%	8h	8.8474	−0.481%	$3.9M	$4.5M	—	as long as short
Bybit UNIUSDT	−0.0002%	8h	8.8830	−0.081%	$101.2M	$104.6M	75x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0004%	1h	8.8899	−0.003%	$62K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−0.677%	$660	$155K	12x	as long as short
OKX UNI-USDT-SWAP	+0.0046%	8h	8.8830	−0.081%	$55.0M	$245.1M	50x	as long as short
01 Exchange UNIUSD	+0.0056%	1h	8.8960	+0.065%	$444	—	10x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0071%	1h	8.8933	+0.035%	$565K	$157K	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.8847	−0.062%	$25K	—	20x	as long as short
Nado UNI-PERP	+0.0100%	1h	8.8832	−0.078%	$941K	$4.0M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.8903	+0.002%	$1.0M	$3.3M	50x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica UNI	+0.0100%	1h	8.8922	+0.022%	$298K	$570K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	8.8846	−0.063%	$218.0M	$588.5M	75x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.8980	+0.088%	$283K	$615K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.8880	−0.025%	$23.1M	$58.6M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.8870	−0.036%	$42.9M	$24.5M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.8860	−0.047%	$13.6M	$13.7M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.8840	−0.070%	$32.2M	$41.4M	75x	as long as short
BingX UNI-USDT	+0.0100%	8h	8.8840	−0.070%	—	$51.7M	—	as long as short
Backpack UNI_USDC_PERPlong	+0.0100%	1h	8.8902	long leg	$987K	$2.3M	10x
edgeX UNIUSDC	+0.0100%	4h	8.8599	−0.340%	$167K	$343K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.8775	−0.143%	$626K	$2.5M	10x	as long as short
ApeX Omni UNIUSDTshort	+0.0100%	1h	8.8740	−0.182%	$88K	$712K	50x
StandX UNI-USD	+0.0100%	1h	8.8880	−0.025%	$106K	$3.2M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.8871	−0.035%	$86K	$354K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.8860	−0.047%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.8921	+0.021%	$36K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.8890	−0.013%	$25K	$666K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.8930	+0.031%	$729K	$4.3M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.8870	−0.036%	$26.7M	$4.4M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	8.8818	−0.095%	$301K	$1.4M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.8895	−0.008%	$32K	$1K	3x	as long as short
dYdX UNI-USD	+0.0135%	1h	8.8884	−0.020%	$246K	$6K	10x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.8900	−0.002%	$9.9M	$3.4M	75x	as long as short
Coinbase International UNI-PERP-INTX	+0.0224%	1h	8.8970	+0.076%	$1.1M	$5.3M	50x	as long as short
Kraken Futures PF_UNIUSD	+0.0340%	1h	8.8945	+0.049%	$5.0M	$7.0M	50x	as long as short
Hyperliquid UNI	+0.0344%	1h	8.9031	+0.145%	$97.7M	$59.1M	10x	as long as short
Reya UNIRUSDPERP	+0.0362%	1h	8.8798	−0.117%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0379% / S −0.0319%	1h	8.8893	−0.010%	$557K	—	120x	as long as short
Lighter UNI	+0.0592%	1h	8.9059	+0.177%	$4.6M	$5.2M	15x	as long as short
Aftermath Perps UNIUSD	+0.0625%	1h	8.8682	−0.247%	$1K	$49K	10x	as long as short