Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0473%/8h= +51.8% APRpaid last 24h +0.045%

Price spread now: Kraken Futures against OKX+0.086%45s7-day average +0.089% · you sell dearer than you buy

Net, funding: paid 7d − costs−$26as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$470.475% of the position

Long on OKX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.213%+$21 on $10k

Price spread, last 3 days (all we have)+0.212%+$21 · spread now +0.086%, 7d avg +0.089%

Together, before fees+0.424%+$42 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.089%, so right now this pair is about funding alone: +$14 a day on $10k at the current rate. The two prices were read 45 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.213% in total (about 11.1% 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	OKX UNI-USDT-SWAP	9.0280	0.0087	pay 0.0087% / 8h	39m 31s	$55.4M	$249.9M	50x
Short	Kraken Futures PF_UNIUSD	9.0357	0.0560	get 0.0070% / 1h	39m 31s	$5.0M	$7.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against OKX. 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 OKXbpFee Kraken FuturesbpOrdersPrice spread, now +0.086%Rate

Funding earned: $99.25
Price spread: +0.086% → +0.089%: −$0.36
Slippage, 4 orders: −$27.5
Fee OKX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $51.4
Costs to cover: 0.475%
Break-even: 3.4 days

Slippage from OKX: live order book, 5 min ago; Kraken Futures: live order book, 4 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 OKX live order book, 5 min ago	0.55 bp	7.5 bp −$7	14.2 bp −$142	47.0 bp −$4,700	doesn't fit
Sell Kraken Futures live order book, 4 min ago	4.43 bp	16.1 bp −$16	18.6 bp −$186	39.6 bp −$3,963	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
Injective UNI/USDC PERP	−0.0049%	1h	8.8300	−2.193%	$660	$155K	12x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0004%	1h	9.0288	+0.008%	$62K	—	150x	as long as short
Variational Omni UNI	+0.0022%	8h	9.0514	+0.259%	$4.1M	$4.4M	—	as long as short
dYdX UNI-USD	+0.0058%	1h	9.0335	+0.061%	$250K	$6K	10x	as long as short
Bybit UNIUSDT	+0.0068%	8h	9.0280	0.000%	$103.1M	$104.5M	75x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0078%	1h	9.0330	+0.055%	$582K	$176K	50x	as long as short
OKX UNI-USDT-SWAPlong	+0.0087%	8h	9.0280	long leg	$55.4M	$249.9M	50x
Nado UNI-PERP	+0.0100%	1h	9.0245	−0.039%	$956K	$4.2M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	9.0366	+0.095%	$1.0M	$3.3M	50x	as long as short
Pacifica UNI	+0.0100%	1h	9.0318	+0.042%	$299K	$591K	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance UNIUSDT	+0.0100%	8h	9.0310	+0.033%	$223.5M	$588.7M	75x	as long as short
Arcus UNI-USD	+0.0100%	1h	9.0360	+0.089%	$279K	$620K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	9.0300	+0.022%	$23.2M	$58.5M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	9.0280	0.000%	$43.4M	$23.9M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	9.0290	+0.011%	$13.7M	$13.5M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	9.0270	−0.011%	$33.0M	$42.0M	75x	as long as short
BingX UNI-USDT	+0.0100%	8h	9.0270	−0.011%	—	$51.9M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	9.0399	+0.132%	$170K	$342K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	9.0470	+0.210%	$630K	$2.5M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	9.0490	+0.233%	$89K	$712K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	9.0470	+0.210%	$36K	$3.3M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	9.0296	+0.018%	$88K	$356K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	9.0280	0.000%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	9.0352	+0.080%	$36K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	9.0290	+0.011%	$25K	$669K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	9.0536	+0.284%	$739K	$4.3M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	9.0330	+0.055%	$27.3M	$4.5M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	9.0253	−0.030%	$26K	—	20x	as long as short
Extended UNI-USD	+0.0104%	1h	9.0269	−0.012%	$305K	$1.5M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	9.0289	+0.010%	$32K	$1K	3x	as long as short
Backpack UNI_USDC_PERP	+0.0141%	1h	9.0380	+0.111%	$1.0M	$2.4M	10x	as long as short
01 Exchange UNIUSD	+0.0216%	1h	9.0363	+0.092%	$451	—	10x	as long as short
BloFin UNI-USDT	+0.0220%	8h	9.0510	+0.255%	$10.2M	$3.5M	75x	as long as short
Coinbase International UNI-PERP-INTX	+0.0232%	1h	9.0380	+0.111%	$1.1M	$5.4M	50x	as long as short
Reya UNIRUSDPERP	+0.0364%	1h	9.0261	−0.021%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0380% / S −0.0320%	1h	9.0288	+0.008%	$568K	—	120x	as long as short
Kraken Futures PF_UNIUSDshort	+0.0560%	1h	9.0357	+0.086%	$5.0M	$7.0M	50x
Hyperliquid UNI	+0.0678%	1h	9.0413	+0.147%	$99.5M	$58.7M	10x	as long as short
Aftermath Perps UNIUSD	+0.0792%	1h	9.0509	+0.253%	$1K	$49K	10x	as long as short
Lighter UNI	+0.1024%	1h	9.0485	+0.227%	$4.6M	$5.2M	15x	as long as short