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 0.000%

Price spread now: KuCoin against Phemex−0.123%50s7-day average −0.031% · you buy dearer than you sell

Net, funding: paid 7d − costs−$74as 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−$720.721% of the position

Long on Phemex Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.020%−$2 on $10k

Price spread, last 4 days (all we have)−0.055%−$5 · spread now −0.123%, 7d avg −0.031%

Together, before fees−0.075%−$7 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: KuCoin is 0.092% cheaper against Phemex than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of −0.031%. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex UNIUSDT	8.9530	0.0100	pay 0.0100% / 8h	1h 25m	$27.0M	$4.5M	50x
Short	KuCoin UNIUSDTM	8.9420	0.0100	get 0.0100% / 8h	1h 25m	$13.1M	$13.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Phemex. 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 PhemexbpFee KuCoinbpOrdersPrice spread, now −0.123%Rate

Funding earned: $0
Price spread: −0.123% → −0.031%: −$9.18
Slippage, 4 orders: −$48.13
Fee Phemex: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$81.3
Costs to cover: 0.721%
Break-even: never at this rate

Slippage from Phemex: live order book, 4 min ago; KuCoin: 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 Phemex live order book, 4 min ago	6.74 bp	22.4 bp −$22	33.2 bp −$332	doesn't fit	doesn't fit
Sell KuCoin live order book, 3 min ago	1.68 bp	19.4 bp −$19	22.5 bp −$225	61.5 bp −$6,148	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	−0.0150%	1h	8.9388	−0.159%	$107K	$618K	10x	as long as short
01 Exchange UNIUSD	−0.0024%	1h	8.9395	−0.151%	$446	$5	10x	as long as short
Kraken Futures PF_UNIUSD	−0.0017%	1h	8.9542	+0.013%	$4.7M	$8.7M	50x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0007%	1h	8.9419	−0.124%	$49K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−1.374%	$660	$153K	12x	as long as short
Nado UNI-PERP	+0.0077%	1h	8.9425	−0.117%	$741K	$4.7M	10x	as long as short
Lighter UNI	+0.0096%	1h	8.9542	+0.013%	$4.5M	$5.7M	15x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.9396	−0.149%	$26K	—	20x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.9450	−0.089%	$733K	$3.6M	50x	as long as short
Pacifica UNI	+0.0100%	1h	8.9450	−0.089%	$286K	$590K	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	8.9390	−0.156%	$215.8M	$658.7M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	8.9350	−0.201%	$99.2M	$111.7M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	8.9350	−0.201%	$54.3M	$266.7M	50x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.9490	−0.045%	$319K	$696K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.9400	−0.145%	$25.2M	$66.6M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.9400	−0.145%	$49.1M	$26.6M	200x	as long as short
KuCoin UNIUSDTMshort	+0.0100%	8h	8.9420	−0.123%	$13.1M	$13.4M	75x
Bitget UNIUSDT	+0.0100%	8h	8.9330	−0.223%	$32.7M	$45.4M	75x	as long as short
BingX UNI-USDT	+0.0100%	8h	8.9400	−0.145%	—	$57.4M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	8.9617	+0.097%	$1.1M	$2.5M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	8.9369	−0.179%	$4.1M	$4.3M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.9114	−0.465%	$169K	$345K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.9127	−0.450%	$624K	$2.7M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.9190	−0.380%	$90K	$710K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.9240	−0.324%	$15K	$3.5M	20x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.9320	−0.235%	$16K	$1.9M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.9472	−0.065%	$36K	$1.4M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.9345	−0.207%	$32K	$886K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.9500	−0.034%	$700K	$4.8M	75x	as long as short
Phemex UNIUSDTlong	+0.0100%	8h	8.9530	long leg	$27.0M	$4.5M	50x
Extended UNI-USD	+0.0104%	1h	8.9374	−0.175%	$293K	$1.7M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.9370	−0.179%	$32K	—	3x	as long as short
Coinbase International UNI-PERP-INTX	+0.0192%	1h	8.9490	−0.045%	$932K	$5.5M	50x	as long as short
Hyperliquid UNI	+0.0200%	1h	8.9513	−0.019%	$95.1M	$67.7M	10x	as long as short
dYdX UNI-USD	+0.0219%	1h	8.9355	−0.196%	$235K	$31K	10x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.9100	−0.480%	$10.0M	$3.6M	75x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0287%	1h	8.9547	+0.019%	$590K	$250K	50x	as long as short
Reya UNIRUSDPERP	+0.0379%	1h	8.9378	−0.170%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0243%	1h	8.9186	−0.384%	$634K	—	120x	as long as short
Aftermath Perps UNIUSD	+0.0465%	1h	8.9294	−0.264%	$983	$53K	10x	as long as short