Funding arb · Price arb /

UNI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.003%

Price spread now: Gate against Backpack−0.094%7-day average −0.490% · you buy dearer than you sell

Net, funding: paid 7d − costs−$55as in the Funding arb table

Net, price: spread back to 7d avg − costs−$6as in the Price arb table

costs, in and out, $10k−$450.453% of the position

Long on Backpack Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.095%−$10 on $10k

Price spread, last 7 days+0.132%+$13 · spread now −0.094%, 7d avg −0.490%

Together, before fees+0.036%+$4 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: Gate is 0.396% dearer against Backpack than usual: you sell high and buy low, +$40 on $10k if it goes back to its 7-day average of −0.490%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack UNI_USDC_PERP	8.8723	0.0100	pay 0.0013% / 1h	8m 05s	$1.0M	$2.3M	10x
Short	Gate UNI_USDT	8.8640	0.0100	get 0.0100% / 8h	3h 08m	$23.4M	$65.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.094%Rate

Funding earned: $0
Price spread: −0.094% → −0.490%: $39.61
Slippage, 4 orders: −$20.32
Fee Backpack: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$5.71
Costs to cover: 0.453%
Break-even: never at this rate

Slippage from Backpack: live order book, 1 min ago; Gate: 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 Backpack live order book, 1 min ago	0.06 bp	6.4 bp −$6	90.7 bp −$907	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	1.13 bp	15.1 bp −$15	24.9 bp −$249	44.3 bp −$4,428	67.0 bp −$33.5K

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
01 Exchange UNIUSD	−0.0008%	1h	8.8665	−0.065%	$442	$5	10x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0007%	1h	8.8727	+0.005%	$48K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−0.477%	$660	$154K	12x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0043%	1h	8.8694	−0.033%	$568K	$208K	50x	as long as short
Lighter UNI	+0.0096%	1h	8.8764	+0.046%	$4.5M	$5.9M	15x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.8659	−0.072%	$25K	—	20x	as long as short
Nado UNI-PERP	+0.0100%	1h	8.8610	−0.127%	$860K	$4.5M	10x	as long as short
Hyperliquid UNI	+0.0100%	1h	8.8753	+0.034%	$94.1M	$65.0M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.8680	−0.048%	$769K	$3.6M	50x	as long as short
Pacifica UNI	+0.0100%	1h	8.8670	−0.060%	$286K	$611K	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	8.8636	−0.099%	$216.6M	$651.9M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	8.8620	−0.116%	$99.0M	$112.0M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	8.8630	−0.105%	$53.9M	$260.4M	50x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.8750	+0.030%	$318K	$666K	10x	as long as short
Gate UNI_USDTshort	+0.0100%	8h	8.8640	−0.094%	$23.4M	$65.3M	75x
MEXC UNI_USDT	+0.0100%	8h	8.8640	−0.094%	$47.0M	$26.3M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.8630	−0.105%	$13.1M	$13.3M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.8620	−0.116%	$32.6M	$46.1M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	8.8640	−0.094%	—	$6.5M	—	as long as short
Backpack UNI_USDC_PERPlong	+0.0100%	1h	8.8723	long leg	$1.0M	$2.3M	10x
Variational Omni UNI	+0.0100%	8h	8.8419	−0.343%	$4.1M	$4.2M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.8810	+0.098%	$168K	$344K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.8650	−0.082%	$616K	$2.8M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.8820	+0.109%	$91K	$701K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.8660	−0.071%	$15K	$3.4M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.8638	−0.096%	$83K	$458K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.8680	−0.048%	$16K	$1.5M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.8700	−0.026%	$36K	$1.4M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.8638	−0.096%	$31K	$818K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.8754	+0.035%	$691K	$4.9M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.8680	−0.048%	$26.8M	$4.4M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	8.8602	−0.137%	$284K	$1.6M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.8625	−0.111%	$31K	—	3x	as long as short
Coinbase International UNI-PERP-INTX	+0.0216%	1h	8.8690	−0.037%	$920K	$5.8M	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.8630	−0.105%	$10.1M	$3.6M	75x	as long as short
dYdX UNI-USD	+0.0231%	1h	8.8657	−0.074%	$233K	$30K	10x	as long as short
Kraken Futures PF_UNIUSD	+0.0274%	1h	8.8693	−0.034%	$4.8M	$8.3M	50x	as long as short
Reya UNIRUSDPERP	+0.0375%	1h	8.8616	−0.120%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0244%	1h	8.8705	−0.020%	$631K	—	120x	as long as short
Aftermath Perps UNIUSD	+0.0700%	1h	8.8858	+0.152%	$891	$45K	10x	as long as short