Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0149%/8h= −16.4% APRpaid last 24h −0.052%

Price spread now: edgeX against Hyperliquid−0.140%46s7-day average −0.097% · you buy dearer than you sell

Net, funding: paid 7d − costs−$49as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$310.312% of the position

Long on Hyperliquid Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.177%−$18 on $10k

Price spread, last 4 days (all we have)−0.015%−$1 · spread now −0.140%, 7d avg −0.097%

Together, before fees−0.192%+ Points / potential airdropHyperliquid: Season 2 · edgeX: Active · farm board−$19 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and edgeX is 0.043% cheaper against Hyperliquid than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.097%). Swap the legs. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid UNI	8.8528	0.0249	pay 0.0031% / 1h	20m 40s	$95.3M	$63.4M	10x
Short	edgeX UNIUSDC	8.8404	0.0100	get 0.0050% / 4h	2h 20m	$167K	$345K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Hyperliquid. 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 HyperliquidbpFee edgeXbpOrdersPrice spread, now −0.140%Rate

Funding earned: −$31.38
Price spread: −0.140% → −0.097%: −$4.32
Slippage, 4 orders: −$13.22
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$66.91
Costs to cover: 0.312%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 6 min ago; edgeX: live order book, 30 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 Hyperliquid live order book, 6 min ago	0.40 bp	6.8 bp −$7	doesn't fit	doesn't fit	doesn't fit
Sell edgeX live order book, 30 min ago	3.99 bp	8.7 bp −$9	18.4 bp −$184	doesn't fit	doesn't fit

UNI on 40 exchanges

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 −0.0005%	1h	8.8464	−0.072%	$76K	—	150x	as long as short
Nado UNI-PERP	+0.0004%	1h	8.8475	−0.060%	$744K	$4.1M	10x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−0.258%	$660	$152K	12x	as long as short
01 Exchange UNIUSD	+0.0040%	1h	8.8445	−0.094%	$441	$56	10x	as long as short
dYdX UNI-USD	+0.0042%	1h	8.8511	−0.019%	$232K	$32K	10x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0053%	1h	8.8479	−0.055%	$585K	$222K	50x	as long as short
Lighter UNI	+0.0096%	1h	8.8464	−0.072%	$4.4M	$5.0M	15x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.8333	−0.220%	$25K	—	20x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.8433	−0.107%	$783K	$2.5M	50x	as long as short
Pacifica UNI	+0.0100%	1h	8.8377	−0.171%	$289K	$482K	10x	as long as short

Show all 40 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance UNIUSDT	+0.0100%	8h	8.8381	−0.166%	$214.1M	$591.9M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	8.8350	−0.201%	$97.7M	$100.3M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	8.8370	−0.178%	$54.6M	$237.2M	50x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.8470	−0.066%	$319K	$555K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.8340	−0.212%	$27.4M	$58.1M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.8360	−0.190%	$45.7M	$25.5M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.8410	−0.133%	$12.9M	$11.7M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.8350	−0.201%	$32.9M	$43.6M	75x	as long as short
BingX UNI-USDT	+0.0100%	8h	8.8350	−0.201%	—	$53.1M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	8.8548	+0.023%	$1.1M	$2.3M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	8.8387	−0.159%	$4.1M	$3.1M	—	as long as short
edgeX UNIUSDCshort	+0.0100%	4h	8.8404	−0.140%	$167K	$345K	20x
GRVT UNI_USDT_Perp	+0.0100%	8h	8.8386	−0.161%	$627K	$2.4M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.8470	−0.066%	$89K	$708K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.8480	−0.054%	$91K	$3.5M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.8465	−0.071%	$105K	$592K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.8400	−0.145%	$16K	$2.6M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.8534	+0.007%	$36K	$1.2M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.8452	−0.086%	$32K	$730K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.8537	+0.010%	$692K	$4.2M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.8440	−0.099%	$26.7M	$4.5M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	8.8341	−0.211%	$303K	$1.7M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.8445	−0.094%	$31K	—	3x	as long as short
Kraken Futures PF_UNIUSD	+0.0142%	1h	8.8517	−0.012%	$4.7M	$7.8M	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.8420	−0.122%	$10.0M	$3.4M	75x	as long as short
Coinbase International UNI-PERP-INTX	+0.0248%	1h	8.8400	−0.145%	$923K	$4.5M	50x	as long as short
Hyperliquid UNIlong	+0.0249%	1h	8.8528	long leg	$95.3M	$63.4M	10x
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0244%	1h	8.8436	−0.104%	$629K	—	120x	as long as short
Reya UNIRUSDPERP	+0.0385%	1h	8.8444	−0.095%	$16K	—	20x	as long as short
Aftermath Perps UNIUSD	+0.0502%	1h	8.8354	−0.197%	$1K	$51K	10x	as long as short