Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0124%/8h= −13.6% APRpaid last 24h +0.108%

Price spread now: Lighter against BloFin+0.009%90s7-day average +0.151% · you sell dearer than you buy

Net, funding: paid 7d − costs−$19as 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−$320.315% of the position

Long on BloFin Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.125%+$13 on $10k

Price spread, last 4 days (all we have)+0.053%+$5 · spread now +0.009%, 7d avg +0.151%

Together, before fees+0.178%+ Points / potential airdropLighter: Season 3 · farm board+$18 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Lighter is 0.141% cheaper against BloFin than usual: you would sell low and buy high (−$14 if the spread goes back to its 7-day average of +0.151%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.125%, so the current rate has only just turned against you. The two prices were read 90 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	BloFin UNI-USDT	8.8030	0.0220	pay 0.0220% / 8h	5h 47m	$10.0M	$3.4M	75x
Short	Lighter UNI	8.8038	0.0096	get 0.0012% / 1h	47m 44s	$4.4M	$4.8M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against BloFin. 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 BloFinbpFee LighterbpOrdersPrice spread, now +0.009%Rate

Funding earned: −$26.04
Price spread: +0.009% → +0.151%: −$14.15
Slippage, 4 orders: −$19.52
Fee BloFin: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$71.7
Costs to cover: 0.315%
Break-even: never at this rate

Slippage from BloFin: live order book, 4 min ago; Lighter: live order book, 3 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 BloFin live order book, 4 min ago	5.11 bp	11.5 bp −$12	18.1 bp −$181	44.7 bp −$4,468	doesn't fit
Sell Lighter live order book, 3 min ago	1.42 bp	2.3 bp −$2	12.2 bp −$122	106.4 bp −$10.6K	doesn't fit

UNI on 40 exchanges

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
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0005%	1h	8.7942	−0.100%	$76K	—	150x	as long as short
Nado UNI-PERP	+0.0023%	1h	8.7818	−0.241%	$710K	$3.9M	10x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	+0.307%	$660	$147K	12x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0057%	1h	8.7989	−0.047%	$582K	$216K	50x	as long as short
Lighter UNIshort	+0.0096%	1h	8.8038	+0.009%	$4.4M	$4.8M	15x
01 Exchange UNIUSD	+0.0096%	1h	8.7918	−0.127%	$439	$56	10x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.7858	−0.195%	$25K	—	20x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.8010	−0.023%	$739K	$2.4M	50x	as long as short
Pacifica UNI	+0.0100%	1h	8.7913	−0.133%	$287K	$460K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	8.7940	−0.102%	$213.6M	$565.8M	75x	as long as short

Show all 40 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit UNIUSDT	+0.0100%	8h	8.7910	−0.136%	$97.3M	$96.9M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	8.7900	−0.148%	$54.3M	$225.3M	50x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.8000	−0.034%	$323K	$515K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.7970	−0.068%	$27.6M	$55.0M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.7990	−0.045%	$46.1M	$20.5M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.7990	−0.045%	$12.8M	$11.1M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.7880	−0.170%	$32.7M	$41.9M	75x	as long as short
BingX UNI-USDT	+0.0100%	8h	8.7940	−0.102%	—	$50.1M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	8.8050	+0.023%	$1.1M	$2.2M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	8.7993	−0.043%	$4.1M	$2.7M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.8017	−0.015%	$166K	$346K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.8156	+0.143%	$618K	$2.2M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.8070	+0.045%	$89K	$713K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.8060	+0.034%	$93K	$3.5M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.7896	−0.152%	$105K	$573K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.7920	−0.125%	$16K	$2.5M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.7878	−0.173%	$36K	$1.1M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.7939	−0.103%	$32K	$725K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.8061	+0.035%	$702K	$4.0M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.7990	−0.045%	$26.5M	$4.5M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	8.7921	−0.124%	$296K	$1.7M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.7950	−0.091%	$31K	—	3x	as long as short
Kraken Futures PF_UNIUSD	+0.0131%	1h	8.8001	−0.033%	$4.7M	$7.6M	50x	as long as short
Hyperliquid UNI	+0.0159%	1h	8.8037	+0.008%	$94.7M	$60.6M	10x	as long as short
BloFin UNI-USDTlong	+0.0220%	8h	8.8030	long leg	$10.0M	$3.4M	75x
Coinbase International UNI-PERP-INTX	+0.0240%	1h	8.8010	−0.023%	$920K	$4.3M	50x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0244%	1h	8.7966	−0.073%	$625K	—	120x	as long as short
Reya UNIRUSDPERP	+0.0386%	1h	8.8008	−0.025%	$16K	—	20x	as long as short
Aftermath Perps UNIUSD	+0.0574%	1h	8.8164	+0.152%	$1K	$49K	10x	as long as short
dYdX UNI-USD	+0.0700%	1h	8.7914	−0.132%	$230K	$32K	10x	as long as short