Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h 0.000%

Price spread now: BingX against Deribit−0.094%7-day average −0.075% · 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−$40as in the Price arb table

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

Long on Deribit Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.003%$0 on $10k

Price spread, last 4 days (all we have)−0.175%−$18 · spread now −0.094%, 7d avg −0.075%

Together, before fees−0.178%−$18 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.075%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit UNI_USDC-PERPETUAL	8.8693	0.0150	pay 0.0019% / 1h	31m 22s	$568K	$203K	50x
Short	BingX UNI-USDT	8.8610	0.0100	get 0.0100% / 8h	2h 31m	—	$57.2M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Deribit. 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 DeribitbpFee BingXbpOrdersPrice spread, now −0.094%Rate

Funding earned: −$10.5
Price spread: −0.094% → −0.075%: −$1.91
Slippage, 4 orders: −$21.19
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee BingX: 5 bp × 2 orders: −$10
Net: −$50.6
Costs to cover: 0.382%
Break-even: never at this rate

Slippage from Deribit: live order book, 17 min ago; BingX: live order book, 8 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 Deribit live order book, 17 min ago	6.95 bp	14.7 bp −$15	21.4 bp −$214	doesn't fit	doesn't fit
Sell BingX live order book, 8 min ago	0.56 bp	6.1 bp −$6	9.2 bp −$92	19.3 bp −$1,928	69.2 bp −$34.6K

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	−0.0119%	1h	8.8550	−0.161%	$821K	$4.7M	10x	as long as short
01 Exchange UNIUSD	−0.0048%	1h	8.8637	−0.063%	$442	$5	10x	as long as short
Kraken Futures PF_UNIUSD	−0.0017%	1h	8.8680	−0.015%	$4.8M	$8.5M	50x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0007%	1h	8.8630	−0.072%	$48K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−0.443%	$660	$153K	12x	as long as short
Polymarket Perps UNI-USD	+0.0085%	1h	8.8602	−0.103%	$96K	$515K	10x	as long as short
Lighter UNI	+0.0096%	1h	8.8710	+0.019%	$4.5M	$5.5M	15x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.8585	−0.122%	$25K	—	20x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.8645	−0.055%	$750K	$3.6M	50x	as long as short
Pacifica UNI	+0.0100%	1h	8.8630	−0.071%	$284K	$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	8.8630	−0.071%	$215.3M	$659.2M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	8.8620	−0.083%	$99.0M	$112.3M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	8.8620	−0.083%	$53.8M	$263.6M	50x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.8690	−0.004%	$316K	$700K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.8630	−0.071%	$24.0M	$65.4M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.8620	−0.083%	$46.4M	$26.4M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.8650	−0.049%	$13.0M	$13.5M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.8610	−0.094%	$32.6M	$46.5M	75x	as long as short
BingX UNI-USDTshort	+0.0100%	8h	8.8610	−0.094%	—	$57.2M	—
Backpack UNI_USDC_PERP	+0.0100%	1h	8.8658	−0.040%	$1.0M	$2.4M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	8.8991	+0.336%	$4.1M	$4.2M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.8670	−0.026%	$168K	$346K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.8791	+0.110%	$619K	$2.7M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.8700	+0.008%	$91K	$706K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.8710	+0.019%	$15K	$3.4M	20x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.8630	−0.071%	$16K	$1.6M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.8685	−0.009%	$36K	$1.4M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.8631	−0.070%	$32K	$857K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.8697	+0.004%	$708K	$5.0M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.8630	−0.071%	$26.8M	$4.3M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	8.8587	−0.120%	$285K	$1.7M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.8574	−0.135%	$31K	—	3x	as long as short
Hyperliquid UNI	+0.0137%	1h	8.8713	+0.022%	$94.4M	$66.4M	10x	as long as short
Deribit UNI_USDC-PERPETUALlong	+0.0150%	1h	8.8693	long leg	$568K	$203K	50x
dYdX UNI-USD	+0.0166%	1h	8.8586	−0.121%	$233K	$31K	10x	as long as short
Coinbase International UNI-PERP-INTX	+0.0184%	1h	8.8630	−0.071%	$926K	$5.8M	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.8730	+0.041%	$10.0M	$3.6M	75x	as long as short
Reya UNIRUSDPERP	+0.0376%	1h	8.8578	−0.130%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0244%	1h	8.8616	−0.087%	$631K	—	120x	as long as short
Aftermath Perps UNIUSD	+0.0634%	1h	8.8773	+0.090%	$915	$45K	10x	as long as short