Funding arb · Price arb /

UNI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0281%/8h= −30.8% APRpaid last 24h −0.044%

Price spread now: MEXC against GMX+0.050%7-day average −0.027% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on GMX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.204%−$20 on $10k

Price spread, last 3 days (all we have)−0.129%−$13 · spread now +0.050%, 7d avg −0.027%

Together, before fees−0.332%−$33 on $10k · with fees, hour by hour

The price spread pays, funding is against you. MEXC is 0.077% dearer against GMX than usual: you sell high and buy low (spread +0.050% now, against its 7-day average of −0.027%): +$8 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 22 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX UNI/USD [UNI-USDC]	9.0355	L +0.0381% / S −0.0244%	pay 0.0048% / 1h	1m 07s	$644K	—	120x
Short	MEXC UNI_USDT	9.0400	0.0100	get 0.0100% / 8h	7h 01m	$50.3M	$25.4M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against GMX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 GMXbpFee MEXCbpOrdersPrice spread, now +0.050%Rate

Funding earned: −$59.11
Price spread: +0.050% → −0.027%: $7.69
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$67.42
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; MEXC: live order book, 3 min ago. Net counts fees only.

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 GMX no order-book sample	—	—	—	—	—
Sell MEXC live order book, 3 min ago	0.55 bp	4.5 bp −$5	8.0 bp −$80	27.0 bp −$2,702	166.4 bp −$83.2K

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	9.0386	+0.035%	$584K	$186K	50x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0004%	1h	9.0369	+0.016%	$19K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−2.274%	$660	$154K	12x	as long as short
01 Exchange UNIUSD	+0.0096%	1h	9.0448	+0.103%	$451	—	10x	as long as short
Nado UNI-PERP	+0.0100%	1h	9.0435	+0.089%	$963K	$4.3M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	9.0394	+0.043%	$1.0M	$2.9M	50x	as long as short
Pacifica UNI	+0.0100%	1h	9.0650	+0.327%	$300K	$586K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	9.0408	+0.059%	$228.9M	$602.0M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	9.0410	+0.061%	$101.8M	$107.4M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	9.0390	+0.039%	$56.0M	$253.6M	50x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus UNI-USD	+0.0100%	1h	9.0590	+0.261%	$279K	$618K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	9.0380	+0.028%	$23.1M	$60.9M	75x	as long as short
MEXC UNI_USDTshort	+0.0100%	8h	9.0400	+0.050%	$50.3M	$25.4M	200x
KuCoin UNIUSDTM	+0.0100%	8h	9.0450	+0.106%	$13.6M	$13.6M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	9.0360	+0.006%	$33.1M	$42.8M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	9.0380	+0.028%	—	$6.5M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	9.0372	+0.019%	$990K	$2.4M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	9.0329	−0.028%	$4.1M	$4.4M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	9.1109	+0.835%	$172K	$346K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	9.1234	+0.973%	$639K	$2.6M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	9.1120	+0.847%	$89K	$706K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	9.0670	+0.349%	$56K	$3.3M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	9.0453	+0.109%	$87K	$401K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	9.0370	+0.017%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	9.0387	+0.036%	$36K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	9.0314	−0.045%	$22K	$713K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	9.0580	+0.250%	$719K	$4.4M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	9.0440	+0.095%	$27.3M	$4.5M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	9.0526	+0.189%	$26K	—	20x	as long as short
Extended UNI-USD	+0.0104%	1h	9.0317	−0.042%	$304K	$1.5M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	9.0341	−0.015%	$32K	—	3x	as long as short
dYdX UNI-USD	+0.0202%	1h	9.0675	+0.354%	$243K	$24K	10x	as long as short
BloFin UNI-USDT	+0.0220%	8h	9.0450	+0.106%	$10.5M	$3.6M	75x	as long as short
Coinbase International UNI-PERP-INTX	+0.0272%	1h	9.0500	+0.161%	$1.1M	$4.8M	50x	as long as short
Reya UNIRUSDPERP	+0.0367%	1h	9.0335	−0.022%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]long	L +0.0381% / S −0.0244%	1h	9.0355	long leg	$644K	—	120x
Kraken Futures PF_UNIUSD	+0.0389%	1h	9.0380	+0.028%	$5.0M	$7.0M	50x	as long as short
Hyperliquid UNI	+0.0509%	1h	9.0463	+0.120%	$99.3M	$58.8M	10x	as long as short
Lighter UNI	+0.0944%	1h	9.0549	+0.215%	$4.7M	$5.5M	15x	as long as short
Aftermath Perps UNIUSD	+0.1067%	1h	9.1143	+0.872%	$982	$49K	10x	as long as short