UNI

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0270%/8h= −29.5% APRnext payment −$0.34 per $10,000 · paid last 24h −0.030%

Price spread now: Backpack against dYdX−0.050%7-day average +0.026% · you buy dearer than you sell

Net, funding: paid 7d − costs−$94as in the Funding arb table

Net, price: spread back to 7d avg − costs−$79as in the Price arb table

costs, in and out, $10k−$720.718% of the position

Long on dYdX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.222%−$22 on $10k

Price spread, last 4 days (all we have)−0.005%−$1 · spread now −0.050%, 7d avg +0.026%

Together, before fees−0.227%−$23 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Backpack is 0.076% cheaper against dYdX than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.026%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX UNI-USD	9.0273	0.0370	pay 0.0046% / 1h	50m 45s	$238K	$30K	10x
Short	Backpack UNI_USDC_PERP	9.0228	0.0100	get 0.0013% / 1h	50m 45s	$1.0M	$2.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against dYdX. 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 dYdXbpFee BackpackbpOrdersPrice spread, now −0.050%Rate

Funding earned: −$56.61
Price spread: −0.050% → +0.026%: −$7.55
Slippage, 4 orders: −$51.82
Fee dYdX: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$135.98
Costs to cover: 0.718%
Break-even: never at this rate

Slippage from dYdX: live order book, 3 min ago; Backpack: 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 dYdX live order book, 3 min ago	21.54 bp	26.5 bp −$27	28.1 bp −$281	36.1 bp −$3,614	250.0 bp −$125.0K
Sell Backpack live order book, 3 min ago	0.05 bp	5.9 bp −$6	391.7 bp −$3,917	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
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0004%	1h	9.0096	−0.197%	$37K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−2.186%	$660	$154K	12x	as long as short
01 Exchange UNIUSD	+0.0072%	1h	9.0148	−0.138%	$450	$5	10x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0091%	1h	9.0126	−0.162%	$577K	$207K	50x	as long as short
Nado UNI-PERP	+0.0100%	1h	9.0045	−0.253%	$964K	$4.4M	10x	as long as short
Hyperliquid UNI	+0.0100%	1h	9.0308	+0.039%	$97.6M	$62.1M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	9.0215	−0.064%	$811K	$3.5M	50x	as long as short
Pacifica UNI	+0.0100%	1h	9.0285	+0.013%	$292K	$602K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	9.0300	+0.030%	$221.9M	$641.5M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	9.0270	−0.003%	$101.5M	$111.6M	75x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX UNI-USDT-SWAP	+0.0100%	8h	9.0280	+0.008%	$54.9M	$261.3M	50x	as long as short
Arcus UNI-USD	+0.0100%	1h	9.0410	+0.152%	$316K	$653K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	9.0300	+0.030%	$23.7M	$63.3M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	9.0310	+0.041%	$47.6M	$25.5M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	9.0260	−0.014%	$13.5M	$13.2M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	9.0260	−0.014%	$33.3M	$45.2M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	9.0300	+0.030%	—	$6.5M	—	as long as short
Backpack UNI_USDC_PERPshort	+0.0100%	1h	9.0228	−0.050%	$1.0M	$2.3M	10x
Variational Omni UNI	+0.0100%	8h	9.0039	−0.259%	$4.2M	$4.1M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	9.0450	+0.196%	$171K	$345K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	9.0380	+0.119%	$640K	$2.8M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	9.0480	+0.229%	$95K	$701K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	9.0260	−0.014%	$15K	$3.4M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	9.0101	−0.191%	$85K	$431K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	9.0070	−0.225%	$16K	$1.5M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	9.0174	−0.110%	$36K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	9.0055	−0.241%	$22K	$793K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	9.0220	−0.059%	$721K	$4.7M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	9.0080	−0.214%	$27.3M	$4.4M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	9.0276	+0.004%	$26K	—	20x	as long as short
Lighter UNI	+0.0104%	1h	9.0354	+0.090%	$4.6M	$5.8M	15x	as long as short
Extended UNI-USD	+0.0104%	1h	9.0245	−0.031%	$291K	$1.6M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	9.0095	−0.197%	$32K	—	3x	as long as short
Coinbase International UNI-PERP-INTX	+0.0216%	1h	9.0220	−0.059%	$945K	$5.8M	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	9.0020	−0.280%	$10.2M	$3.6M	75x	as long as short
Kraken Futures PF_UNIUSD	+0.0270%	1h	9.0129	−0.159%	$5.0M	$8.0M	50x	as long as short
dYdX UNI-USDlong	+0.0370%	1h	9.0273	long leg	$238K	$30K	10x
Reya UNIRUSDPERP	+0.0374%	1h	9.0072	−0.222%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0244%	1h	9.0093	−0.199%	$642K	—	120x	as long as short
Aftermath Perps UNIUSD	+0.0871%	1h	9.0478	+0.227%	$988	$46K	10x	as long as short