Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.029%

Price spread now: Backpack against Bybit+0.057%7-day average +0.592% · you sell dearer than you buy

Net, funding: paid 7d − costs−$23as in the Funding arb table

Net, price: spread back to 7d avg − costs−$85as in the Price arb table

costs, in and out, $10k−$310.310% of the position

Long on Bybit Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.084%+$8 on $10k

Price spread, last 7 days−0.880%−$88 · spread now +0.057%, 7d avg +0.592%

Together, before fees−0.796%−$80 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: Backpack is 0.535% cheaper against Bybit than usual: you would sell low and buy high, −$54 on $10k if it goes back to its 7-day average of +0.592%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit UNIUSDT	8.9880	0.0100	pay 0.0100% / 8h	2h 14m	$100.5M	$111.5M	75x
Short	Backpack UNI_USDC_PERP	8.9931	0.0100	get 0.0013% / 1h	14m 39s	$1.1M	$2.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Bybit. 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 BybitbpFee BackpackbpOrdersPrice spread, now +0.057%Rate

Funding earned: $0
Price spread: +0.057% → +0.592%: −$53.53
Slippage, 4 orders: −$9.99
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$84.53
Costs to cover: 0.310%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; Backpack: 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 Bybit live order book, 4 min ago	0.56 bp	9.5 bp −$10	18.2 bp −$182	43.8 bp −$4,383	doesn't fit
Sell Backpack live order book, 4 min ago	0.56 bp	6.4 bp −$6	93.3 bp −$933	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
Nado UNI-PERP	−0.0053%	1h	8.9740	−0.156%	$822K	$4.6M	10x	as long as short
Kraken Futures PF_UNIUSD	−0.0017%	1h	8.9840	−0.045%	$4.8M	$8.4M	50x	as long as short
01 Exchange UNIUSD	−0.0008%	1h	8.9794	−0.096%	$448	$5	10x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0007%	1h	8.9741	−0.155%	$49K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−1.758%	$660	$153K	12x	as long as short
Polymarket Perps UNI-USD	+0.0090%	1h	8.9785	−0.106%	$104K	$559K	10x	as long as short
Lighter UNI	+0.0096%	1h	9.0004	+0.138%	$4.5M	$5.6M	15x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.9898	+0.020%	$26K	—	20x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.9909	+0.033%	$746K	$3.6M	50x	as long as short
Pacifica UNI	+0.0100%	1h	8.9910	+0.033%	$288K	$612K	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	8.9890	+0.011%	$219.4M	$657.7M	75x	as long as short
Bybit UNIUSDTlong	+0.0100%	8h	8.9880	long leg	$100.5M	$111.5M	75x
OKX UNI-USDT-SWAP	+0.0100%	8h	8.9910	+0.033%	$54.8M	$267.0M	50x	as long as short
Arcus UNI-USD	+0.0100%	1h	9.0050	+0.189%	$321K	$703K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.9860	−0.022%	$24.6M	$66.3M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.9870	−0.011%	$49.6M	$27.2M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.9910	+0.033%	$13.0M	$13.4M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.9920	+0.045%	$33.2M	$45.5M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	8.9930	+0.056%	—	$6.5M	—	as long as short
Backpack UNI_USDC_PERPshort	+0.0100%	1h	8.9931	+0.057%	$1.1M	$2.4M	10x
Variational Omni UNI	+0.0100%	8h	8.9660	−0.245%	$4.1M	$4.2M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.9517	−0.404%	$169K	$346K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.9630	−0.278%	$621K	$2.8M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.9550	−0.367%	$90K	$707K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.9510	−0.412%	$16K	$3.5M	20x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.9790	−0.100%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.9789	−0.101%	$36K	$1.4M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.9810	−0.078%	$32K	$865K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.9840	−0.045%	$714K	$5.0M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.9800	−0.089%	$27.1M	$4.5M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	8.9811	−0.077%	$301K	$1.7M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.9810	−0.078%	$32K	—	3x	as long as short
Hyperliquid UNI	+0.0159%	1h	9.0011	+0.146%	$95.9M	$66.2M	10x	as long as short
dYdX UNI-USD	+0.0163%	1h	8.9862	−0.020%	$237K	$31K	10x	as long as short
Coinbase International UNI-PERP-INTX	+0.0184%	1h	8.9830	−0.056%	$943K	$5.6M	50x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0186%	1h	8.9851	−0.033%	$575K	$202K	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.9800	−0.089%	$10.1M	$3.7M	75x	as long as short
Reya UNIRUSDPERP	+0.0377%	1h	8.9758	−0.136%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0243%	1h	8.9741	−0.154%	$639K	—	120x	as long as short
Aftermath Perps UNIUSD	+0.0464%	1h	8.9341	−0.599%	$1K	$54K	10x	as long as short