Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0143%/8h= +15.7% APRpaid last 24h +0.095%

Price spread now: GMX against Orderly+0.068%7-day average +0.030% · you sell dearer than you buy

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

Long on Orderly Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.093%+$9 on $10k

Price spread, last 4 days (all we have)−0.148%−$15 · spread now +0.068%, 7d avg +0.030%

Together, before fees−0.055%−$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and GMX is 0.038% dearer against Orderly than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.030%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_UNI_USDC	8.9770	0.0100	pay 0.0100% / 8h	1h 48m	$16K	$1.8M	10x
Short	GMX UNI/USD [UNI-USDC]	8.9831	L +0.0381% / S −0.0243%	get 0.0030% / 1h	48m 31s	$638K	—	120x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Orderly. 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 OrderlybpFee GMXbpOrdersPrice spread, now +0.068%Rate

Funding earned: $30.13
Price spread: +0.068% → +0.030%: $3.76
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee GMX: 6 bp × 2 orders: −$12
Net: $15.9
Costs to cover: 0.180%
Break-even: 3.3 days

Slippage unknown: Orderly: no order-book sample; GMX: 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 Orderly no order-book sample	—	—	—	—	—
Sell GMX no order-book sample	—	—	—	—	—

Orderly and GMX: 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
Polymarket Perps UNI-USD	−0.0111%	1h	8.9632	−0.154%	$120K	$582K	10x	as long as short
Kraken Futures PF_UNIUSD	−0.0017%	1h	8.9824	+0.060%	$4.7M	$8.6M	50x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0007%	1h	8.9839	+0.077%	$49K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−1.638%	$660	$153K	12x	as long as short
01 Exchange UNIUSD	+0.0072%	1h	8.9593	−0.197%	$447	$5	10x	as long as short
Lighter UNI	+0.0096%	1h	8.9843	+0.081%	$4.5M	$5.6M	15x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.9695	−0.083%	$26K	—	20x	as long as short
Nado UNI-PERP	+0.0100%	1h	8.9605	−0.184%	$775K	$4.7M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.9660	−0.123%	$739K	$3.6M	50x	as long as short
Pacifica UNI	+0.0100%	1h	8.9738	−0.035%	$287K	$593K	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	8.9656	−0.127%	$216.9M	$660.1M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	8.9680	−0.100%	$99.8M	$112.2M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	8.9680	−0.100%	$54.6M	$267.3M	50x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.9690	−0.089%	$320K	$705K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.9690	−0.089%	$25.0M	$66.2M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.9670	−0.111%	$49.4M	$26.5M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.9720	−0.056%	$13.1M	$13.4M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.9660	−0.123%	$32.9M	$45.6M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	8.9660	−0.123%	—	$6.5M	—	as long as short
Variational Omni UNI	+0.0100%	8h	8.9650	−0.133%	$4.1M	$4.3M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.9816	+0.052%	$170K	$345K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.9765	−0.005%	$627K	$2.7M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.9860	+0.100%	$90K	$708K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.9760	−0.011%	$15K	$3.5M	20x	as long as short
Orderly PERP_UNI_USDClong	+0.0100%	8h	8.9770	long leg	$16K	$1.8M	10x
SunX UNI-USDT	+0.0100%	8h	8.9866	+0.107%	$37K	$1.4M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.9799	+0.032%	$32K	$887K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.9860	+0.100%	$702K	$5.0M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.9830	+0.067%	$27.1M	$4.5M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	8.9619	−0.169%	$299K	$1.7M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.9806	+0.040%	$32K	—	3x	as long as short
dYdX UNI-USD	+0.0131%	1h	8.9774	+0.004%	$236K	$31K	10x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0155%	1h	8.9839	+0.077%	$592K	$249K	50x	as long as short
Backpack UNI_USDC_PERP	+0.0165%	1h	8.9928	+0.176%	$1.1M	$2.4M	10x	as long as short
Coinbase International UNI-PERP-INTX	+0.0192%	1h	8.9850	+0.089%	$940K	$5.6M	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.9820	+0.056%	$10.1M	$3.7M	75x	as long as short
Reya UNIRUSDPERP	+0.0378%	1h	8.9645	−0.139%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]short	L +0.0381% / S −0.0243%	1h	8.9831	+0.068%	$638K	—	120x
Aftermath Perps UNIUSD	+0.0491%	1h	8.9833	+0.070%	$950	$54K	10x	as long as short
Hyperliquid UNI	+0.0539%	1h	8.9773	+0.003%	$96.7M	$66.6M	10x	as long as short