Funding arb · Price arb /

UNI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0003%/8h= +0.3% APRpaid last 24h −0.053%

Price spread now: OKX against dYdX−0.410%7-day average −0.046% · you buy dearer than you sell

Net, funding: paid 7d − costs−$291as in the Funding arb table

Net, price: spread back to 7d avg − costs−$297as in the Price arb table

costs, in and out, $10k−$2602.603% of the position

Long on dYdX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.307%−$31 on $10k

Price spread, last 4 days (all we have)+0.298%+$30 · spread now −0.410%, 7d avg −0.046%

Together, before fees−0.009%−$1 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: OKX is 0.364% cheaper against dYdX than usual: you would sell low and buy high, −$36 on $10k if it goes back to its 7-day average of −0.046%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX UNI-USD	9.0923	0.0097	pay 0.0012% / 1h	40m 23s	$239K	$30K	10x
Short	OKX UNI-USDT-SWAP	9.0550	0.0100	get 0.0100% / 8h	4h 40m	$55.4M	$258.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.410%Rate

Funding earned: $0.54
Price spread: −0.410% → −0.046%: −$36.37
Slippage, 4 orders: −$240.29
Fee dYdX: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$296.13
Costs to cover: 2.603%
Break-even: 3834.5 days

Slippage from dYdX: live order book, 19 min ago; OKX: 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 dYdX live order book, 19 min ago	31.23 bp	36.3 bp −$36	36.4 bp −$364	114.5 bp −$11.5K	396.2 bp −$198.1K
Sell OKX live order book, 4 min ago	0.55 bp	8.0 bp −$8	16.1 bp −$161	52.1 bp −$5,209	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
Deribit UNI_USDC-PERPETUAL	0.0000%	1h	9.0577	−0.380%	$580K	$193K	50x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0004%	1h	9.0573	−0.384%	$37K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−2.885%	$660	$154K	12x	as long as short
01 Exchange UNIUSD	+0.0064%	1h	9.0880	−0.047%	$453	$5	10x	as long as short
dYdX UNI-USDlong	+0.0097%	1h	9.0923	long leg	$239K	$30K	10x
Nado UNI-PERP	+0.0100%	1h	9.0785	−0.151%	$920K	$4.4M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	9.0902	−0.022%	$1.0M	$3.0M	50x	as long as short
Pacifica UNI	+0.0100%	1h	9.0946	+0.025%	$295K	$590K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	9.0572	−0.386%	$223.5M	$631.3M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	9.0530	−0.432%	$101.5M	$110.7M	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-SWAPshort	+0.0100%	8h	9.0550	−0.410%	$55.4M	$258.0M	50x
Arcus UNI-USD	+0.0100%	1h	9.0500	−0.465%	$287K	$629K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	9.0620	−0.333%	$23.5M	$62.9M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	9.0760	−0.179%	$48.3M	$25.3M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	9.0810	−0.124%	$13.6M	$13.1M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	9.0500	−0.465%	$33.4M	$44.3M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	9.0560	−0.399%	—	$6.5M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	9.0966	+0.048%	$1.0M	$2.3M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	9.0778	−0.159%	$4.3M	$4.2M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	9.1200	+0.305%	$172K	$343K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	9.1003	+0.089%	$639K	$2.7M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	9.1050	+0.140%	$89K	$694K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	9.0870	−0.058%	$27K	$3.3M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	9.0829	−0.103%	$87K	$422K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	9.0560	−0.399%	$16K	$1.6M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	9.0783	−0.154%	$37K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	9.0510	−0.454%	$22K	$783K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	9.0760	−0.179%	$718K	$4.5M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	9.0480	−0.487%	$27.4M	$4.5M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	9.0876	−0.052%	$26K	—	20x	as long as short
Extended UNI-USD	+0.0104%	1h	9.0489	−0.477%	$299K	$1.6M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	9.0565	−0.394%	$32K	—	3x	as long as short
Lighter UNI	+0.0208%	1h	9.0613	−0.341%	$4.6M	$5.8M	15x	as long as short
BloFin UNI-USDT	+0.0220%	8h	9.0940	+0.019%	$10.3M	$3.6M	75x	as long as short
Coinbase International UNI-PERP-INTX	+0.0248%	1h	9.0630	−0.322%	$1.0M	$5.5M	50x	as long as short
Kraken Futures PF_UNIUSD	+0.0270%	1h	9.0546	−0.414%	$5.0M	$7.9M	50x	as long as short
Reya UNIRUSDPERP	+0.0372%	1h	9.0754	−0.186%	$17K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0244%	1h	9.0573	−0.385%	$645K	—	120x	as long as short
Hyperliquid UNI	+0.0453%	1h	9.0920	−0.003%	$98.8M	$61.9M	10x	as long as short
Aftermath Perps UNIUSD	+0.1069%	1h	9.0964	+0.046%	$910	$46K	10x	as long as short