Funding arb · Price arb /

UNI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.003%

Price spread now: Backpack against Nado+0.028%7-day average +0.448% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$65as in the Price arb table

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

Long on Nado Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.011%+$1 on $10k

Price spread, last 7 days−0.113%−$11 · spread now +0.028%, 7d avg +0.448%

Together, before fees−0.102%+ Points / potential airdropNado: Active · farm board−$10 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: Backpack is 0.419% cheaper against Nado than usual: you would sell low and buy high, −$42 on $10k if it goes back to its 7-day average of +0.448%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado UNI-PERP	8.8445	0.0100	pay 0.0012% / 1h	26m 00s	$940K	$4.0M	10x
Short	Backpack UNI_USDC_PERP	8.8470	0.0100	get 0.0013% / 1h	26m 00s	$982K	$2.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Nado. 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 NadobpFee BackpackbpOrdersPrice spread, now +0.028%Rate

Funding earned: $0
Price spread: +0.028% → +0.448%: −$41.93
Slippage, 4 orders: −$6.5
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$65.43
Costs to cover: 0.235%
Break-even: 6722504669866538.0 days

Slippage from Nado: live order book, 3 min ago; Backpack: 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 Nado live order book, 3 min ago	0.45 bp	4.4 bp −$4	12.9 bp −$129	doesn't fit	doesn't fit
Sell Backpack live order book, 3 min ago	0.06 bp	7.3 bp −$7	107.7 bp −$1,077	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
Variational Omni UNI	−0.0066%	8h	8.8274	−0.193%	$3.9M	$4.5M	—	as long as short
Bybit UNIUSDT	−0.0005%	8h	8.8440	−0.006%	$100.9M	$104.4M	75x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0004%	1h	8.8485	+0.045%	$61K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−0.164%	$660	$155K	12x	as long as short
OKX UNI-USDT-SWAP	+0.0043%	8h	8.8430	−0.017%	$54.8M	$243.8M	50x	as long as short
01 Exchange UNIUSD	+0.0056%	1h	8.8482	+0.042%	$442	—	10x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0080%	1h	8.8503	+0.065%	$562K	$157K	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.8410	−0.040%	$25K	—	20x	as long as short
Nado UNI-PERPlong	+0.0100%	1h	8.8445	long leg	$940K	$4.0M	10x
Aster UNIUSDT	+0.0100%	8h	8.8532	+0.098%	$1.0M	$3.3M	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	8.8514	+0.078%	$297K	$570K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	8.8460	+0.017%	$217.1M	$588.0M	75x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.8520	+0.085%	$282K	$615K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.8430	−0.017%	$23.0M	$58.6M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.8430	−0.017%	$42.8M	$24.5M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.8460	+0.017%	$13.5M	$13.8M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.8430	−0.017%	$32.0M	$41.4M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	8.8430	−0.017%	—	$6.5M	—	as long as short
Backpack UNI_USDC_PERPshort	+0.0100%	1h	8.8470	+0.028%	$982K	$2.3M	10x
edgeX UNIUSDC	+0.0100%	4h	8.8335	−0.125%	$166K	$342K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.8402	−0.049%	$613K	$2.5M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.8370	−0.085%	$87K	$712K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.8280	−0.187%	$105K	$3.3M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.8468	+0.026%	$86K	$353K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.8460	+0.017%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.8470	+0.028%	$36K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.8420	−0.028%	$25K	$666K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.8526	+0.092%	$727K	$4.3M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.8420	−0.028%	$26.6M	$4.4M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	8.8417	−0.032%	$300K	$1.4M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.8461	+0.018%	$31K	$1K	3x	as long as short
dYdX UNI-USD	+0.0160%	1h	8.8503	+0.066%	$245K	$6K	10x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.8350	−0.107%	$9.8M	$3.3M	75x	as long as short
Coinbase International UNI-PERP-INTX	+0.0224%	1h	8.8510	+0.073%	$1.0M	$5.3M	50x	as long as short
Hyperliquid UNI	+0.0311%	1h	8.8567	+0.138%	$97.0M	$59.3M	10x	as long as short
Kraken Futures PF_UNIUSD	+0.0342%	1h	8.8496	+0.058%	$4.9M	$7.0M	50x	as long as short
Reya UNIRUSDPERP	+0.0362%	1h	8.8415	−0.034%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0379% / S −0.0319%	1h	8.8464	+0.022%	$554K	—	120x	as long as short
Lighter UNI	+0.0600%	1h	8.8609	+0.185%	$4.5M	$5.2M	15x	as long as short
Aftermath Perps UNIUSD	+0.0623%	1h	8.8381	−0.073%	$1K	$49K	10x	as long as short