Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0453%/8h= −49.6% APRpaid last 24h −0.047%

Price spread now: HTX against Hyperliquid+0.048%7-day average +0.028% · you sell dearer than you buy

Net, funding: paid 7d − costs−$70as in the Funding arb table

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$530.534% of the position

Long on Hyperliquid Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.165%−$17 on $10k

Price spread, last 4 days (all we have)+0.472%+$47 · spread now +0.048%, 7d avg +0.028%

Together, before fees+0.307%+ Points / potential airdropHyperliquid: Season 2 · farm board+$31 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.028%, so right now this pair is about funding alone: −$14 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.165% in total (about -8.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid UNI	9.1651	0.0553	pay 0.0069% / 1h	8m 55s	$100.0M	$61.6M	10x
Short	HTX UNI-USDT	9.1695	0.0100	get 0.0100% / 8h	5h 08m	$723K	$4.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.048%Rate

Funding earned: −$95.12
Price spread: +0.048% → +0.028%: $2
Slippage, 4 orders: −$32.43
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee HTX: 6 bp × 2 orders: −$12
Net: −$146.56
Costs to cover: 0.534%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 5 min ago; HTX: live order book, 5 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, 5 min ago	0.98 bp	7.4 bp −$7	doesn't fit	doesn't fit	doesn't fit
Sell HTX live order book, 5 min ago	6.19 bp	12.2 bp −$12	49.5 bp −$495	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	9.1477	−0.190%	$37K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−3.656%	$660	$154K	12x	as long as short
01 Exchange UNIUSD	+0.0056%	1h	9.1537	−0.124%	$457	$5	10x	as long as short
Nado UNI-PERP	+0.0100%	1h	9.1415	−0.257%	$953K	$4.3M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	9.1528	−0.134%	$1.0M	$2.9M	50x	as long as short
Pacifica UNI	+0.0100%	1h	9.1408	−0.265%	$298K	$580K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	9.1488	−0.177%	$227.1M	$622.4M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	9.1420	−0.252%	$102.8M	$110.0M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	9.1440	−0.230%	$56.7M	$257.5M	50x	as long as short
Arcus UNI-USD	+0.0100%	1h	9.1590	−0.067%	$290K	$618K	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	9.1450	−0.219%	$23.4M	$62.0M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	9.1510	−0.154%	$49.3M	$25.3M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	9.1500	−0.165%	$13.7M	$13.0M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	9.1440	−0.230%	$33.5M	$43.5M	75x	as long as short
BingX UNI-USDT	+0.0100%	8h	9.1440	−0.230%	—	$56.5M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	9.1513	−0.151%	$1.0M	$2.3M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	9.1627	−0.026%	$4.3M	$4.2M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	9.1809	+0.172%	$173K	$343K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	9.1990	+0.370%	$640K	$2.7M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	9.2110	+0.501%	$90K	$694K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	9.2020	+0.403%	$57K	$3.3M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	9.1502	−0.163%	$87K	$419K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	9.1490	−0.176%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	9.1535	−0.127%	$37K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	9.1500	−0.165%	$22K	$772K	10x	as long as short
HTX UNI-USDTshort	+0.0100%	8h	9.1695	+0.048%	$723K	$4.5M	75x
Phemex UNIUSDT	+0.0100%	8h	9.1500	−0.165%	$27.7M	$4.5M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	9.1463	−0.206%	$26K	—	20x	as long as short
Extended UNI-USD	+0.0104%	1h	9.1421	−0.251%	$312K	$1.6M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	9.1386	−0.289%	$32K	—	3x	as long as short
dYdX UNI-USD	+0.0121%	1h	9.1413	−0.259%	$241K	$31K	10x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0216%	1h	9.1548	−0.112%	$586K	$193K	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	9.1490	−0.176%	$10.5M	$3.6M	75x	as long as short
Kraken Futures PF_UNIUSD	+0.0268%	1h	9.1573	−0.085%	$5.1M	$7.7M	50x	as long as short
Coinbase International UNI-PERP-INTX	+0.0296%	1h	9.1470	−0.197%	$1.1M	$5.4M	50x	as long as short
Reya UNIRUSDPERP	+0.0371%	1h	9.1409	−0.264%	$17K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0244%	1h	9.1487	−0.179%	$651K	—	120x	as long as short
Hyperliquid UNIlong	+0.0553%	1h	9.1651	long leg	$100.0M	$61.6M	10x
Lighter UNI	+0.0560%	1h	9.1649	−0.002%	$4.7M	$5.8M	15x	as long as short
Aftermath Perps UNIUSD	+0.1035%	1h	9.1909	+0.282%	$923	$47K	10x	as long as short