Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0020%/8h= +2.2% APRpaid last 24h +0.032%

Price spread now: BloFin against Deribit−0.062%7-day average −0.039% · you buy dearer than you sell

Net, funding: paid 7d − costs−$15as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$430.429% of the position

Long on Deribit Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.278%+$28 on $10k

Price spread, last 4 days (all we have)−0.043%−$4 · spread now −0.062%, 7d avg −0.039%

Together, before fees+0.236%+$24 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.023% cheaper against Deribit than usual: you would sell low and buy high (spread −0.062% now, against its 7-day average of −0.039%). If the spread goes back, that is −$2 on $10k: about 3.9 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.278% in total) that is about 14 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit UNI_USDC-PERPETUAL	8.8976	0.0200	pay 0.0025% / 1h	16m 52s	$590K	$270K	50x
Short	BloFin UNI-USDT	8.8920	0.0220	get 0.0220% / 8h	16m 52s	$10.1M	$3.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.062%Rate

Funding earned: $4.2
Price spread: −0.062% → −0.039%: −$2.34
Slippage, 4 orders: −$23.93
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$41.07
Costs to cover: 0.429%
Break-even: 75.4 days

Slippage from Deribit: live order book, 22 min ago; BloFin: live order book, 7 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, 22 min ago	7.71 bp	12.7 bp −$13	21.2 bp −$212	doesn't fit	doesn't fit
Sell BloFin live order book, 7 min ago	1.13 bp	8.2 bp −$8	11.8 bp −$118	26.3 bp −$2,633	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
Kraken Futures PF_UNIUSD	−0.0305%	1h	8.8975	−0.001%	$4.7M	$8.6M	50x	as long as short
01 Exchange UNIUSD	−0.0008%	1h	8.8947	−0.032%	$444	$5	10x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0005%	1h	8.8909	−0.075%	$73K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−0.759%	$660	$153K	12x	as long as short
Nado UNI-PERP	+0.0037%	1h	8.8860	−0.130%	$728K	$4.7M	10x	as long as short
Polymarket Perps UNI-USD	+0.0083%	1h	8.8872	−0.116%	$105K	$615K	10x	as long as short
Lighter UNI	+0.0096%	1h	8.9023	+0.053%	$4.5M	$5.6M	15x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.8828	−0.166%	$25K	—	20x	as long as short
Hyperliquid UNI	+0.0100%	1h	8.9037	+0.069%	$94.9M	$67.7M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.8937	−0.043%	$723K	$3.3M	50x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica UNI	+0.0100%	1h	8.8900	−0.085%	$287K	$591K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	8.8891	−0.095%	$215.3M	$652.8M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	8.8800	−0.197%	$98.3M	$110.6M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	8.8790	−0.208%	$54.4M	$262.0M	50x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.8970	−0.006%	$317K	$690K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.8890	−0.096%	$26.2M	$66.5M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.8900	−0.085%	$48.2M	$26.3M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.8940	−0.040%	$12.9M	$13.3M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.8760	−0.242%	$32.5M	$45.3M	75x	as long as short
BingX UNI-USDT	+0.0100%	8h	8.8870	−0.119%	—	$58.0M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	8.9024	+0.055%	$1.1M	$2.5M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	8.8330	−0.726%	$4.1M	$4.1M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.8604	−0.417%	$168K	$347K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.8706	−0.303%	$615K	$2.6M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.8670	−0.343%	$89K	$709K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.8670	−0.343%	$14K	$3.5M	20x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.8890	−0.096%	$16K	$2.2M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.8965	−0.012%	$36K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.8902	−0.083%	$32K	$886K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.8947	−0.032%	$702K	$4.7M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.8860	−0.130%	$26.8M	$4.5M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	8.8852	−0.139%	$286K	$1.7M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.8916	−0.067%	$32K	—	3x	as long as short
Deribit UNI_USDC-PERPETUALlong	+0.0200%	1h	8.8976	long leg	$590K	$270K	50x
Coinbase International UNI-PERP-INTX	+0.0200%	1h	8.8900	−0.085%	$925K	$5.4M	50x	as long as short
BloFin UNI-USDTshort	+0.0220%	8h	8.8920	−0.062%	$10.1M	$3.6M	75x
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0243%	1h	8.8914	−0.069%	$633K	—	120x	as long as short
Reya UNIRUSDPERP	+0.0381%	1h	8.8850	−0.141%	$16K	—	20x	as long as short
Aftermath Perps UNIUSD	+0.0393%	1h	8.8578	−0.447%	$1K	$52K	10x	as long as short
dYdX UNI-USD	+0.0564%	1h	8.8824	−0.170%	$234K	$30K	10x	as long as short