Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.047%

Price spread now: KuCoin against Hyperliquid+0.004%7-day average −0.091% · you sell dearer than you buy

Net, funding: paid 7d − costs−$75as in the Funding arb table

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$520.521% of the position

Long on Hyperliquid Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.231%−$23 on $10k

Price spread, last 7 days−0.051%−$5 · spread now +0.004%, 7d avg −0.091%

Together, before fees−0.282%+ Points / potential airdropHyperliquid: Season 2 · farm board−$28 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: KuCoin is 0.095% dearer against Hyperliquid than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of −0.091%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid UNI	8.9676	0.0100	pay 0.0013% / 1h	46m 04s	$97.8M	$59.7M	10x
Short	KuCoin UNIUSDTM	8.9680	0.0100	get 0.0100% / 8h	6h 46m	$13.3M	$13.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.004%Rate

Funding earned: $0
Price spread: +0.004% → −0.091%: $9.53
Slippage, 4 orders: −$31.08
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$42.55
Costs to cover: 0.521%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 8 min ago; KuCoin: live order book, 8 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, 8 min ago	1.55 bp	6.5 bp −$7	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 8 min ago	1.67 bp	14.6 bp −$15	21.3 bp −$213	73.6 bp −$7,364	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
dYdX UNI-USD	0.0000%	1h	8.9717	+0.045%	$236K	$30K	10x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0004%	1h	8.9648	−0.032%	$37K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−1.534%	$660	$154K	12x	as long as short
01 Exchange UNIUSD	+0.0056%	1h	8.9709	+0.037%	$448	—	10x	as long as short
Nado UNI-PERP	+0.0100%	1h	8.9650	−0.029%	$929K	$4.3M	10x	as long as short
Hyperliquid UNIlong	+0.0100%	1h	8.9676	long leg	$97.8M	$59.7M	10x
Aster UNIUSDT	+0.0100%	8h	8.9729	+0.059%	$1.0M	$2.9M	50x	as long as short
Pacifica UNI	+0.0100%	1h	8.9711	+0.039%	$294K	$582K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	8.9640	−0.040%	$224.6M	$609.3M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	8.9610	−0.074%	$100.6M	$107.6M	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-SWAP	+0.0100%	8h	8.9610	−0.074%	$55.4M	$252.2M	50x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.9750	+0.083%	$274K	$616K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.9620	−0.062%	$22.8M	$57.9M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.9670	−0.007%	$49.9M	$24.9M	200x	as long as short
KuCoin UNIUSDTMshort	+0.0100%	8h	8.9680	+0.004%	$13.3M	$13.7M	75x
Bitget UNIUSDT	+0.0100%	8h	8.9580	−0.107%	$32.8M	$42.8M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	8.9630	−0.051%	—	$6.5M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	8.9629	−0.052%	$982K	$2.4M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	8.9621	−0.061%	$4.1M	$4.3M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.9950	+0.305%	$169K	$345K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.9996	+0.357%	$635K	$2.6M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	9.0000	+0.361%	$88K	$706K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.9770	+0.105%	$55K	$3.3M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.9677	+0.001%	$85K	$408K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.9670	−0.007%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.9710	+0.038%	$36K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.9640	−0.040%	$21K	$715K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.9860	+0.205%	$714K	$4.2M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.9630	−0.051%	$27.0M	$4.5M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.9672	−0.004%	$26K	—	20x	as long as short
Extended UNI-USD	+0.0104%	1h	8.9657	−0.021%	$299K	$1.5M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.9663	−0.014%	$32K	—	3x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.9940	+0.294%	$10.3M	$3.6M	75x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0232%	1h	8.9739	+0.070%	$580K	$187K	50x	as long as short
Coinbase International UNI-PERP-INTX	+0.0312%	1h	8.9820	+0.161%	$1.1M	$4.6M	50x	as long as short
Reya UNIRUSDPERP	+0.0368%	1h	8.9611	−0.073%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0382% / S −0.0245%	1h	8.9647	−0.033%	$639K	—	120x	as long as short
Kraken Futures PF_UNIUSD	+0.0427%	1h	8.9720	+0.049%	$5.0M	$6.9M	50x	as long as short
Lighter UNI	+0.0440%	1h	8.9823	+0.164%	$4.6M	$5.1M	15x	as long as short
Aftermath Perps UNIUSD	+0.1018%	1h	9.0005	+0.367%	$883	$49K	10x	as long as short