Funding arb · Price arb /

UNI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0149%/8h= −16.4% APRpaid last 24h +0.182%

Price spread now: Injective against KuCoin−2.193%100s7-day average +0.270% · you buy dearer than you sell

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

Long on KuCoin Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.470%−$47 on $10k

Price spread, last 3 days (all we have)+2.354%+$235 · spread now −2.193%, 7d avg +0.270%

Together, before fees+1.884%+$188 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 Injective is 2.463% cheaper against KuCoin than usual: you would sell low and buy high (−$246 if the spread goes back to its 7-day average of +0.270%). Swap the legs. The two prices were read 100 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	KuCoin UNIUSDTM	9.0280	0.0100	pay 0.0100% / 8h	43m 44s	$13.7M	$13.5M	75x
Short	Injective UNI/USDC PERP	8.8300	−0.0049	pay 0.0006% / 1h	43m 44s	$660	$155K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against KuCoin. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 KuCoinbpFee InjectivebpOrdersPrice spread, now −2.193%Rate

Funding earned: −$31.39
Price spread: −2.193% → +0.270%: −$246.3
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$289.72
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 5 min ago; Injective: 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 KuCoin live order book, 5 min ago	0.55 bp	20.9 bp −$21	32.3 bp −$323	85.9 bp −$8,594	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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
Injective UNI/USDC PERPshort	−0.0049%	1h	8.8300	−2.193%	$660	$155K	12x
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0004%	1h	9.0364	+0.093%	$63K	—	150x	as long as short
Variational Omni UNI	+0.0015%	8h	9.0614	+0.370%	$4.1M	$4.4M	—	as long as short
Bybit UNIUSDT	+0.0061%	8h	9.0230	−0.055%	$103.0M	$104.4M	75x	as long as short
dYdX UNI-USD	+0.0073%	1h	9.0288	+0.009%	$250K	$6K	10x	as long as short
OKX UNI-USDT-SWAP	+0.0086%	8h	9.0230	−0.055%	$55.5M	$249.6M	50x	as long as short
Nado UNI-PERP	+0.0100%	1h	9.0405	+0.138%	$957K	$4.2M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	9.0458	+0.197%	$1.0M	$3.3M	50x	as long as short
Pacifica UNI	+0.0100%	1h	9.0354	+0.082%	$300K	$586K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	9.0366	+0.096%	$223.6M	$588.8M	75x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus UNI-USD	+0.0100%	1h	9.0350	+0.078%	$279K	$620K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	9.0430	+0.166%	$23.2M	$58.3M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	9.0260	−0.022%	$43.5M	$23.9M	200x	as long as short
KuCoin UNIUSDTMlong	+0.0100%	8h	9.0280	long leg	$13.7M	$13.5M	75x
Bitget UNIUSDT	+0.0100%	8h	9.0230	−0.055%	$32.8M	$41.9M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	9.0250	−0.033%	—	$6.5M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	9.1605	+1.468%	$172K	$344K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	9.1401	+1.242%	$646K	$2.5M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	9.0750	+0.521%	$89K	$713K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	9.0500	+0.244%	$36K	$3.3M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	9.0427	+0.163%	$88K	$356K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	9.0370	+0.100%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	9.0409	+0.143%	$37K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	9.0395	+0.127%	$25K	$669K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	9.0645	+0.404%	$738K	$4.3M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	9.0470	+0.210%	$27.3M	$4.5M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	9.0207	−0.081%	$26K	—	20x	as long as short
Extended UNI-USD	+0.0104%	1h	9.0224	−0.062%	$313K	$1.5M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	9.0401	+0.135%	$32K	$1K	3x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0129%	1h	9.0431	+0.167%	$582K	$175K	50x	as long as short
Backpack UNI_USDC_PERP	+0.0172%	1h	9.0556	+0.306%	$1.0M	$2.4M	10x	as long as short
BloFin UNI-USDT	+0.0220%	8h	9.0470	+0.210%	$10.0M	$3.5M	75x	as long as short
01 Exchange UNIUSD	+0.0232%	1h	9.0445	+0.183%	$451	—	10x	as long as short
Coinbase International UNI-PERP-INTX	+0.0232%	1h	9.0510	+0.255%	$1.1M	$5.4M	50x	as long as short
Reya UNIRUSDPERP	+0.0363%	1h	9.0365	+0.094%	$17K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0380% / S −0.0320%	1h	9.0345	+0.072%	$568K	—	120x	as long as short
Kraken Futures PF_UNIUSD	+0.0559%	1h	9.0490	+0.232%	$5.0M	$7.0M	50x	as long as short
Hyperliquid UNI	+0.0764%	1h	9.0498	+0.241%	$99.6M	$59.2M	10x	as long as short
Aftermath Perps UNIUSD	+0.0788%	1h	9.0670	+0.432%	$1K	$49K	10x	as long as short
Lighter UNI	+0.1040%	1h	9.0571	+0.322%	$4.6M	$5.2M	15x	as long as short