Funding arb · Price arb /

UNI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0828%/8h= −90.7% APRpaid last 24h −0.185%

Price spread now: MEXC against Lighter−0.261%7-day average −0.107% · you buy dearer than you sell

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$240.235% of the position

Long on Lighter Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.350%−$35 on $10k

Price spread, last 7 days+0.113%+$11 · spread now −0.261%, 7d avg −0.107%

Together, before fees−0.237%+ Points / potential airdropLighter: Season 3 · farm board−$24 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$25 a day on $10k at the current rate, and MEXC is 0.155% cheaper against Lighter than usual: you would sell low and buy high (−$15 if the spread goes back to its 7-day average of −0.107%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.350% in total (about -18.3% 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	Lighter UNI	9.0717	0.0928	pay 0.0116% / 1h	0m 42s	$4.7M	$5.5M	15x
Short	MEXC UNI_USDT	9.0480	0.0100	get 0.0100% / 8h	7h 00m	$50.4M	$25.4M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Lighter. 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 LighterbpFee MEXCbpOrdersPrice spread, now −0.261%Rate

Funding earned: −$173.88
Price spread: −0.261% → −0.107%: −$15.45
Slippage, 4 orders: −$19.54
Fee Lighter: 0 bp × 2 orders: $0
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$212.87
Costs to cover: 0.235%
Break-even: never at this rate

Slippage from Lighter: live order book, 7 min ago; MEXC: live order book, 3 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 Lighter live order book, 7 min ago	1.53 bp	5.9 bp −$6	14.5 bp −$145	79.5 bp −$7,947	doesn't fit
Sell MEXC live order book, 3 min ago	0.55 bp	4.5 bp −$5	8.0 bp −$80	27.0 bp −$2,702	166.4 bp −$83.2K

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
Deribit UNI_USDC-PERPETUAL	0.0000%	1h	9.0386	−0.365%	$584K	$186K	50x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0004%	1h	9.0369	−0.383%	$19K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−2.664%	$660	$154K	12x	as long as short
01 Exchange UNIUSD	+0.0096%	1h	9.0448	−0.297%	$451	—	10x	as long as short
Nado UNI-PERP	+0.0100%	1h	9.0435	−0.311%	$963K	$4.3M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	9.0480	−0.261%	$1.0M	$2.9M	50x	as long as short
Pacifica UNI	+0.0100%	1h	9.0522	−0.215%	$300K	$586K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	9.0500	−0.239%	$229.1M	$602.3M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	9.0460	−0.283%	$101.8M	$107.4M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	9.0490	−0.250%	$56.1M	$253.9M	50x	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	9.0590	−0.140%	$279K	$618K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	9.0500	−0.239%	$23.1M	$60.9M	75x	as long as short
MEXC UNI_USDTshort	+0.0100%	8h	9.0480	−0.261%	$50.4M	$25.4M	200x
KuCoin UNIUSDTM	+0.0100%	8h	9.0550	−0.184%	$13.5M	$13.6M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	9.0550	−0.184%	$33.2M	$42.8M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	9.0490	−0.250%	—	$6.5M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	9.0372	−0.380%	$990K	$2.4M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	9.0329	−0.427%	$4.1M	$4.4M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	9.1109	+0.432%	$172K	$346K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	9.1234	+0.569%	$639K	$2.6M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	9.1120	+0.444%	$89K	$706K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	9.0670	−0.052%	$56K	$3.3M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	9.0453	−0.291%	$87K	$401K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	9.0370	−0.383%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	9.0387	−0.364%	$36K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	9.0314	−0.444%	$22K	$713K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	9.0580	−0.151%	$719K	$4.4M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	9.0440	−0.305%	$27.3M	$4.5M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	9.0460	−0.284%	$26K	—	20x	as long as short
Extended UNI-USD	+0.0104%	1h	9.0431	−0.315%	$304K	$1.5M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	9.0341	−0.415%	$32K	—	3x	as long as short
dYdX UNI-USD	+0.0203%	1h	9.0533	−0.203%	$243K	$24K	10x	as long as short
BloFin UNI-USDT	+0.0220%	8h	9.0450	−0.294%	$10.5M	$3.6M	75x	as long as short
Coinbase International UNI-PERP-INTX	+0.0272%	1h	9.0500	−0.239%	$1.1M	$4.8M	50x	as long as short
Reya UNIRUSDPERP	+0.0367%	1h	9.0335	−0.421%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0244%	1h	9.0355	−0.400%	$644K	—	120x	as long as short
Kraken Futures PF_UNIUSD	+0.0389%	1h	9.0380	−0.372%	$5.0M	$7.0M	50x	as long as short
Hyperliquid UNI	+0.0510%	1h	9.0610	−0.118%	$99.4M	$58.8M	10x	as long as short
Lighter UNIlong	+0.0928%	1h	9.0717	long leg	$4.7M	$5.5M	15x
Aftermath Perps UNIUSD	+0.1067%	1h	9.1143	+0.469%	$982	$49K	10x	as long as short