UNI

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0168%/8h= −18.3% APRnext payment −$0.21 per $10,000 · paid last 24h −0.029%

Price spread now: Backpack against Kraken Futures+0.007%7-day average −0.018% · you sell dearer than you buy

Net, funding: paid 7d − costs−$62as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$480.480% of the position

Long on Kraken Futures Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.143%−$14 on $10k

Price spread, last 3 days (all we have)−0.196%−$20 · spread now +0.007%, 7d avg −0.018%

Together, before fees−0.339%−$34 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Backpack is 0.025% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.007% now, against its 7-day average of −0.018%): +$2 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 12 hours. At the pace of the last 7 days (−0.143% in total) that is about 29 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_UNIUSD	9.1707	0.0268	pay 0.0033% / 1h	58m 22s	$5.1M	$6.9M	50x
Short	Backpack UNI_USDC_PERP	9.1713	0.0100	get 0.0013% / 1h	58m 22s	$1.0M	$2.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Kraken Futures. 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 Kraken FuturesbpFee BackpackbpOrdersPrice spread, now +0.007%Rate

Funding earned: −$35.18
Price spread: +0.007% → −0.018%: $2.49
Slippage, 4 orders: −$27.95
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$80.64
Costs to cover: 0.480%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 6 min ago; Backpack: live order book, 1 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 Kraken Futures live order book, 6 min ago	5.44 bp	18.0 bp −$18	21.9 bp −$219	46.4 bp −$4,642	doesn't fit
Sell Backpack live order book, 1 min ago	0.05 bp	7.6 bp −$8	628.4 bp −$6,284	doesn't fit	doesn't fit

UNI on 39 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	9.1189	−0.565%	$19K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−3.715%	$660	$154K	12x	as long as short
Aster UNIUSDT	+0.0100%	8h	9.1234	−0.516%	$1.0M	$2.9M	50x	as long as short
Pacifica UNI	+0.0100%	1h	9.1276	−0.470%	$298K	$564K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	9.1188	−0.566%	$228.8M	$607.2M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	9.1160	−0.596%	$102.4M	$107.4M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	9.1200	−0.553%	$56.4M	$253.5M	50x	as long as short
Arcus UNI-USD	+0.0100%	1h	9.1300	−0.444%	$289K	$619K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	9.1150	−0.607%	$23.4M	$58.5M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	9.1160	−0.596%	$49.6M	$24.9M	200x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin UNIUSDTM	+0.0100%	8h	9.1170	−0.585%	$13.7M	$12.8M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	9.1140	−0.618%	$33.5M	$42.1M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	9.1180	−0.574%	—	$6.5M	—	as long as short
Backpack UNI_USDC_PERPshort	+0.0100%	1h	9.1713	+0.007%	$1.0M	$2.2M	10x
Variational Omni UNI	+0.0100%	8h	9.1879	+0.188%	$4.2M	$4.3M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	9.1882	+0.191%	$173K	$346K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	9.1739	+0.035%	$638K	$2.6M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	9.1940	+0.254%	$90K	$698K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	9.1690	−0.018%	$56K	$3.3M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	9.1271	−0.475%	$89K	$409K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	9.1230	−0.520%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	9.1698	−0.010%	$37K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	9.1680	−0.029%	$22K	$727K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	9.1808	+0.110%	$729K	$4.2M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	9.1730	+0.025%	$27.7M	$4.5M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	9.1269	−0.478%	$26K	—	20x	as long as short
Extended UNI-USD	+0.0104%	1h	9.1108	−0.653%	$304K	$1.5M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	9.1688	−0.021%	$33K	—	3x	as long as short
01 Exchange UNIUSD	+0.0176%	1h	9.1250	−0.498%	$455	$5	10x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0181%	1h	9.1694	−0.014%	$595K	$188K	50x	as long as short
Nado UNI-PERP	+0.0257%	1h	9.1115	−0.645%	$953K	$4.3M	10x	as long as short
Kraken Futures PF_UNIUSDlong	+0.0268%	1h	9.1707	long leg	$5.1M	$6.9M	50x
Coinbase International UNI-PERP-INTX	+0.0296%	1h	9.1880	+0.189%	$1.1M	$4.7M	50x	as long as short
dYdX UNI-USD	+0.0361%	1h	9.1248	−0.500%	$240K	$30K	10x	as long as short
Reya UNIRUSDPERP	+0.0369%	1h	9.1130	−0.629%	$17K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0244%	1h	9.1169	−0.586%	$649K	—	120x	as long as short
Hyperliquid UNI	+0.0516%	1h	9.1290	−0.455%	$99.3M	$59.2M	10x	as long as short
Lighter UNI	+0.0592%	1h	9.1447	−0.283%	$4.8M	$5.5M	15x	as long as short
Aftermath Perps UNIUSD	+0.0922%	1h	9.1550	−0.171%	$1K	$48K	10x	as long as short