Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0282%/8h= −30.8% APRpaid last 24h −0.041%

Price spread now: Orderly against GMX−0.053%7-day average −0.033% · you buy dearer than you sell

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

Long on GMX Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.200%−$20 on $10k

Price spread, last 3 days (all we have)+0.121%+$12 · spread now −0.053%, 7d avg −0.033%

Together, before fees−0.079%−$8 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 Orderly is 0.020% cheaper against GMX than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.033%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX UNI/USD [UNI-USDC]	9.3029	L +0.0382% / S −0.0323%	pay 0.0048% / 1h	25m 38s	$588K	—	120x
Short	Orderly PERP_UNI_USDC	9.2980	0.0100	get 0.0100% / 8h	7h 25m	$16K	$1.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against GMX. 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 GMXbpFee OrderlybpOrdersPrice spread, now −0.053%Rate

Funding earned: −$59.14
Price spread: −0.053% → −0.033%: −$2.02
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$79.16
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Orderly: no order-book sample. 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 Orderly no order-book sample	—	—	—	—	—

GMX and Orderly: 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
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0006%	1h	9.3041	+0.013%	$50K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−5.084%	$660	$154K	12x	as long as short
01 Exchange UNIUSD	+0.0080%	1h	9.2912	−0.126%	$464	—	10x	as long as short
Nado UNI-PERP	+0.0100%	1h	9.2945	−0.091%	$1.0M	$4.3M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	9.3104	+0.080%	$1.1M	$2.9M	50x	as long as short
Pacifica UNI	+0.0100%	1h	9.3110	+0.087%	$310K	$586K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	9.3115	+0.093%	$233.8M	$597.8M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	9.3080	+0.055%	$105.1M	$107.8M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	9.3060	+0.033%	$57.1M	$261.2M	50x	as long as short
Arcus UNI-USD	+0.0100%	1h	9.3180	+0.162%	$277K	$616K	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate UNI_USDT	+0.0100%	8h	9.3100	+0.076%	$23.7M	$59.5M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	9.3090	+0.065%	$45.3M	$24.1M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	9.3000	−0.031%	$13.9M	$13.6M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	9.3040	+0.012%	$34.2M	$42.7M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	9.3080	+0.055%	—	$6.5M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	9.3002	−0.029%	$1.0M	$2.4M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	9.2980	−0.053%	$4.2M	$4.4M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	9.2339	−0.742%	$174K	$343K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	9.2169	−0.925%	$649K	$2.6M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	9.2360	−0.719%	$90K	$707K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	9.2770	−0.279%	$37K	$3.3M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	9.3024	−0.006%	$82K	$382K	10x	as long as short
Orderly PERP_UNI_USDCshort	+0.0100%	8h	9.2980	−0.053%	$16K	$1.7M	10x
SunX UNI-USDT	+0.0100%	8h	9.3107	+0.084%	$37K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	9.3010	−0.021%	$22K	$719K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	9.3085	+0.060%	$735K	$4.4M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	9.3000	−0.031%	$28.0M	$4.5M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	9.3076	+0.050%	$27K	—	20x	as long as short
Extended UNI-USD	+0.0104%	1h	9.3020	−0.010%	$311K	$1.5M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	9.3039	+0.011%	$33K	—	3x	as long as short
dYdX UNI-USD	+0.0106%	1h	9.3081	+0.056%	$245K	$20K	10x	as long as short
BloFin UNI-USDT	+0.0220%	8h	9.2550	−0.515%	$10.3M	$3.6M	75x	as long as short
Coinbase International UNI-PERP-INTX	+0.0272%	1h	9.3140	+0.119%	$1.1M	$4.9M	50x	as long as short
Reya UNIRUSDPERP	+0.0366%	1h	9.2973	−0.061%	$17K	—	20x	as long as short
Kraken Futures PF_UNIUSD	+0.0377%	1h	9.3089	+0.064%	$5.2M	$7.0M	50x	as long as short
GMX UNI/USD [UNI-USDC]long	L +0.0382% / S −0.0323%	1h	9.3029	long leg	$588K	—	120x
Deribit UNI_USDC-PERPETUAL	+0.0477%	1h	9.3100	+0.076%	$600K	$178K	50x	as long as short
Hyperliquid UNI	+0.0565%	1h	9.3162	+0.143%	$102.7M	$60.7M	10x	as long as short
Aftermath Perps UNIUSD	+0.0964%	1h	9.2260	−0.827%	$1K	$49K	10x	as long as short
Lighter UNI	+0.0992%	1h	9.3274	+0.263%	$4.7M	$5.3M	15x	as long as short