Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0238%/8h= +26.0% APRpaid last 24h +0.021%

Price spread now: Kraken Futures against BingX+0.011%7-day average +0.083% · you sell dearer than you buy

Net, funding: paid 7d − costs−$29as in the Funding arb table

Net, price: spread back to 7d avg − costs−$58as in the Price arb table

costs, in and out, $10k−$510.507% of the position

Long on BingX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.219%+$22 on $10k

Price spread, last 3 days (all we have)+0.363%+$36 · spread now +0.011%, 7d avg +0.083%

Together, before fees+0.581%+$58 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.072% cheaper against BingX than usual: you would sell low and buy high (spread +0.011% now, against its 7-day average of +0.083%). If the spread goes back, that is −$7 on $10k: about 24 hours of funding at the current rate (+$7 a day). At the pace of the last 7 days (+0.219% in total) that is about 2.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX UNI-USDC	8.9650	0.0100	pay 0.0100% / 8h	1h 05m	—	$6.5M	—
Short	Kraken Futures PF_UNIUSD	8.9660	0.0338	get 0.0042% / 1h	5m 00s	$5.0M	$7.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against BingX. 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 BingXbpFee Kraken FuturesbpOrdersPrice spread, now +0.011%Rate

Funding earned: $49.9
Price spread: +0.011% → +0.083%: −$7.2
Slippage, 4 orders: −$30.65
Fee BingX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$7.95
Costs to cover: 0.507%
Break-even: 8.1 days

Slippage from BingX: live order book, 11 min ago; Kraken Futures: live order book, 4 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 BingX live order book, 11 min ago	1.12 bp	11.5 bp −$12	25.7 bp −$257	78.7 bp −$7,874	632.6 bp −$316.3K
Sell Kraken Futures live order book, 4 min ago	2.24 bp	10.9 bp −$11	13.2 bp −$132	38.6 bp −$3,864	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	−0.0030%	8h	8.9413	−0.264%	$4.0M	$4.6M	—	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0004%	1h	8.9634	−0.018%	$62K	—	150x	as long as short
Bybit UNIUSDT	+0.0019%	8h	8.9640	−0.011%	$102.3M	$104.8M	75x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−1.506%	$660	$155K	12x	as long as short
OKX UNI-USDT-SWAP	+0.0059%	8h	8.9630	−0.022%	$55.4M	$247.8M	50x	as long as short
01 Exchange UNIUSD	+0.0080%	1h	8.9688	+0.042%	$448	—	10x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.9611	−0.044%	$26K	—	20x	as long as short
Nado UNI-PERP	+0.0100%	1h	8.9567	−0.092%	$947K	$4.1M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.9700	+0.056%	$1.0M	$3.3M	50x	as long as short
Pacifica UNI	+0.0100%	1h	8.9605	−0.050%	$298K	$584K	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	8.9657	+0.008%	$220.7M	$591.2M	75x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.9720	+0.078%	$277K	$621K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.9670	+0.022%	$23.1M	$59.0M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.9660	+0.011%	$43.2M	$24.6M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.9620	−0.033%	$13.6M	$13.8M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.9590	−0.067%	$32.4M	$41.3M	75x	as long as short
BingX UNI-USDClong	+0.0100%	8h	8.9650	long leg	—	$6.5M	—
Backpack UNI_USDC_PERP	+0.0100%	1h	8.9633	−0.019%	$995K	$2.3M	10x	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.9307	−0.383%	$168K	$344K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.9280	−0.413%	$628K	$2.5M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.9370	−0.312%	$88K	$713K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.9380	−0.301%	$107K	$3.2M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.9654	+0.004%	$87K	$356K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.9640	−0.011%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.9692	+0.047%	$36K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.9590	−0.067%	$25K	$663K	10x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0100%	1h	8.9678	+0.031%	$570K	$157K	50x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.9714	+0.071%	$734K	$4.3M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.9610	−0.045%	$27.0M	$4.4M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	8.9588	−0.069%	$302K	$1.5M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.9742	+0.102%	$32K	$1K	3x	as long as short
dYdX UNI-USD	+0.0119%	1h	8.9557	−0.104%	$248K	$6K	10x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.9620	−0.033%	$9.9M	$3.4M	75x	as long as short
Coinbase International UNI-PERP-INTX	+0.0224%	1h	8.9670	+0.022%	$1.1M	$5.4M	50x	as long as short
Kraken Futures PF_UNIUSDshort	+0.0338%	1h	8.9660	+0.011%	$5.0M	$7.0M	50x
Reya UNIRUSDPERP	+0.0363%	1h	8.9605	−0.051%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0380% / S −0.0320%	1h	8.9633	−0.018%	$563K	—	120x	as long as short
Hyperliquid UNI	+0.0451%	1h	8.9698	+0.054%	$98.8M	$59.3M	10x	as long as short
Lighter UNI	+0.0656%	1h	8.9782	+0.147%	$4.6M	$5.2M	15x	as long as short
Aftermath Perps UNIUSD	+0.0663%	1h	8.9393	−0.286%	$1K	$49K	10x	as long as short