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: MEXC against Phemex+0.022%7-day average −0.018% · you sell dearer than you buy

Net, funding: paid 7d − costs−$60as in the Funding arb table

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$580.580% of the position

Long on Phemex Short on MEXC

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)−0.216%−$22 · spread now +0.022%, 7d avg −0.018%

Together, before fees−0.234%−$23 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: MEXC is 0.041% dearer against Phemex than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.018%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex UNIUSDT	9.0230	0.0100	pay 0.0100% / 8h	2h 04m	$27.2M	$4.5M	50x
Short	MEXC UNI_USDT	9.0250	0.0100	get 0.0100% / 8h	2h 04m	$49.8M	$27.2M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.022%Rate

Funding earned: $0
Price spread: +0.022% → −0.018%: $4.06
Slippage, 4 orders: −$42.02
Fee Phemex: 6 bp × 2 orders: −$12
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$53.96
Costs to cover: 0.580%
Break-even: never at this rate

Slippage from Phemex: live order book, 5 min ago; MEXC: live order book, 5 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, 5 min ago	11.13 bp	21.2 bp −$21	46.4 bp −$464	doesn't fit	doesn't fit
Sell MEXC live order book, 5 min ago	1.67 bp	8.3 bp −$8	11.8 bp −$118	36.0 bp −$3,603	191.2 bp −$95.6K

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
Kraken Futures PF_UNIUSD	−0.0017%	1h	9.0247	+0.019%	$4.8M	$8.6M	50x	as long as short
Nado UNI-PERP	−0.0015%	1h	9.0280	+0.055%	$781K	$4.7M	10x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0007%	1h	9.0294	+0.070%	$49K	—	150x	as long as short
01 Exchange UNIUSD	+0.0008%	1h	9.0341	+0.123%	$451	$5	10x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−2.139%	$660	$153K	12x	as long as short
Polymarket Perps UNI-USD	+0.0083%	1h	9.0259	+0.032%	$126K	$582K	10x	as long as short
Lighter UNI	+0.0096%	1h	9.0342	+0.124%	$4.5M	$5.6M	15x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	9.0293	+0.070%	$26K	—	20x	as long as short
Aster UNIUSDT	+0.0100%	8h	9.0248	+0.020%	$747K	$3.6M	50x	as long as short
Pacifica UNI	+0.0100%	1h	9.0316	+0.096%	$290K	$592K	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	9.0200	−0.033%	$219.0M	$658.6M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	9.0200	−0.033%	$100.4M	$112.4M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	9.0170	−0.066%	$54.9M	$268.6M	50x	as long as short
Arcus UNI-USD	+0.0100%	1h	9.0390	+0.177%	$322K	$705K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	9.0220	−0.011%	$24.8M	$66.8M	75x	as long as short
MEXC UNI_USDTshort	+0.0100%	8h	9.0250	+0.022%	$49.8M	$27.2M	200x
KuCoin UNIUSDTM	+0.0100%	8h	9.0260	+0.033%	$13.2M	$13.4M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	9.0180	−0.055%	$33.1M	$45.9M	75x	as long as short
BingX UNI-USDT	+0.0100%	8h	9.0240	+0.011%	—	$57.3M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	9.0309	+0.088%	$1.1M	$2.4M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	9.0319	+0.099%	$4.2M	$4.3M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	9.0174	−0.062%	$171K	$346K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	9.0060	−0.188%	$624K	$2.7M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	9.0180	−0.055%	$91K	$709K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	9.0360	+0.144%	$15K	$3.5M	20x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	9.0280	+0.055%	$17K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	9.0328	+0.109%	$37K	$1.4M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	9.0200	−0.033%	$32K	$886K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	9.0400	+0.188%	$709K	$5.0M	75x	as long as short
Phemex UNIUSDTlong	+0.0100%	8h	9.0230	long leg	$27.2M	$4.5M	50x
Extended UNI-USD	+0.0104%	1h	9.0227	−0.004%	$300K	$1.7M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	9.0270	+0.044%	$32K	—	3x	as long as short
dYdX UNI-USD	+0.0142%	1h	9.0324	+0.104%	$238K	$31K	10x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0160%	1h	9.0311	+0.089%	$595K	$247K	50x	as long as short
Coinbase International UNI-PERP-INTX	+0.0184%	1h	9.0290	+0.066%	$943K	$5.7M	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	9.0280	+0.055%	$10.1M	$3.7M	75x	as long as short
Hyperliquid UNI	+0.0231%	1h	9.0355	+0.139%	$96.7M	$66.4M	10x	as long as short
Reya UNIRUSDPERP	+0.0377%	1h	9.0234	+0.004%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0243%	1h	9.0308	+0.086%	$642K	—	120x	as long as short
Aftermath Perps UNIUSD	+0.0456%	1h	9.0117	−0.125%	$987	$54K	10x	as long as short