Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.003%

Price spread now: Phemex against MEXC+0.034%7-day average +0.018% · you sell dearer than you buy

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$380.376% of the position

Long on MEXC Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.018%+$2 on $10k

Price spread, last 4 days (all we have)+0.119%+$12 · spread now +0.034%, 7d avg +0.018%

Together, before fees+0.137%+$14 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC UNI_USDT	8.9050	0.0100	pay 0.0100% / 8h	1h 16m	$48.9M	$26.6M	200x
Short	Phemex UNIUSDT	8.9080	0.0100	get 0.0100% / 8h	1h 16m	$26.9M	$4.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against MEXC. 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 MEXCbpFee PhemexbpOrdersPrice spread, now +0.034%Rate

Funding earned: $0
Price spread: +0.034% → +0.018%: $1.52
Slippage, 4 orders: −$21.62
Fee MEXC: 2 bp × 2 orders: −$4
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$36.1
Costs to cover: 0.376%
Break-even: never at this rate

Slippage from MEXC: live order book, 2 min ago; Phemex: live order book, 2 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 MEXC live order book, 2 min ago	0.56 bp	3.5 bp −$3	5.6 bp −$56	15.2 bp −$1,520	129.9 bp −$65.0K
Sell Phemex live order book, 2 min ago	5.05 bp	16.2 bp −$16	24.5 bp −$245	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
Polymarket Perps UNI-USD	−0.0111%	1h	8.8999	−0.057%	$107K	$618K	10x	as long as short
Kraken Futures PF_UNIUSD	−0.0017%	1h	8.9113	+0.070%	$4.7M	$8.6M	50x	as long as short
01 Exchange UNIUSD	−0.0016%	1h	8.9028	−0.025%	$444	$5	10x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0007%	1h	8.9048	−0.003%	$49K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−0.842%	$660	$153K	12x	as long as short
Nado UNI-PERP	+0.0060%	1h	8.9025	−0.028%	$739K	$4.7M	10x	as long as short
Lighter UNI	+0.0096%	1h	8.9147	+0.109%	$4.5M	$5.7M	15x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0096%	1h	8.9075	+0.028%	$587K	$250K	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.9004	−0.052%	$25K	—	20x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.9108	+0.065%	$730K	$3.6M	50x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica UNI	+0.0100%	1h	8.9050	0.000%	$285K	$590K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	8.9060	+0.011%	$215.1M	$658.1M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	8.9050	0.000%	$98.8M	$111.4M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	8.9060	+0.011%	$54.1M	$265.4M	50x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.9100	+0.056%	$318K	$695K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.9070	+0.022%	$25.2M	$66.7M	75x	as long as short
MEXC UNI_USDTlong	+0.0100%	8h	8.9050	long leg	$48.9M	$26.6M	200x
KuCoin UNIUSDTM	+0.0100%	8h	8.9100	+0.056%	$13.0M	$13.4M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.9030	−0.022%	$32.5M	$45.4M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	8.9060	+0.011%	—	$6.5M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	8.9129	+0.089%	$1.1M	$2.5M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	8.9139	+0.100%	$4.1M	$4.3M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.9141	+0.103%	$169K	$346K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.9130	+0.090%	$624K	$2.7M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.9210	+0.180%	$90K	$710K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.9210	+0.180%	$15K	$3.5M	20x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.8990	−0.067%	$16K	$1.9M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.9077	+0.030%	$36K	$1.4M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.9068	+0.020%	$32K	$887K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.9204	+0.173%	$698K	$4.8M	75x	as long as short
Phemex UNIUSDTshort	+0.0100%	8h	8.9080	+0.034%	$26.9M	$4.5M	50x
Extended UNI-USD	+0.0104%	1h	8.9020	−0.034%	$293K	$1.7M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.9051	+0.001%	$32K	—	3x	as long as short
Hyperliquid UNI	+0.0190%	1h	8.9164	+0.128%	$94.8M	$67.5M	10x	as long as short
Coinbase International UNI-PERP-INTX	+0.0192%	1h	8.9070	+0.022%	$928K	$5.5M	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.8960	−0.101%	$10.0M	$3.6M	75x	as long as short
dYdX UNI-USD	+0.0302%	1h	8.9035	−0.017%	$234K	$30K	10x	as long as short
Reya UNIRUSDPERP	+0.0379%	1h	8.8998	−0.059%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0243%	1h	8.9050	0.000%	$634K	—	120x	as long as short
Aftermath Perps UNIUSD	+0.0498%	1h	8.9209	+0.179%	$1K	$53K	10x	as long as short