Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.001%

Price spread now: Polymarket Perps against Phemex−0.106%46s7-day average −0.013% · you buy dearer than you sell

Net, funding: paid 7d − costs−$46as 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−$420.425% of the position

Long on Phemex Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.032%−$3 on $10k

Price spread, last 3 days (all we have)−0.016%−$2 · spread now −0.106%, 7d avg −0.013%

Together, before fees−0.048%−$5 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: Polymarket Perps is 0.093% 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 −0.013%. The two prices were read 46 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	9.1270	0.0100	pay 0.0100% / 8h	7h 03m	$27.5M	$4.5M	50x
Short	Polymarket Perps UNI-USD	9.1173	0.0100	get 0.0013% / 1h	3m 21s	$85K	$390K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.106%Rate

Funding earned: $0
Price spread: −0.106% → −0.013%: −$9.29
Slippage, 4 orders: −$22.5
Fee Phemex: 6 bp × 2 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$51.78
Costs to cover: 0.425%
Break-even: never at this rate

Slippage from Phemex: live order book, 6 min ago; Polymarket Perps: 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 Phemex live order book, 6 min ago	3.28 bp	14.6 bp −$15	25.5 bp −$255	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 4 min ago	2.46 bp	7.1 bp −$7	8.6 bp −$86	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
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0006%	1h	9.0990	−0.307%	$24K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−3.254%	$660	$154K	12x	as long as short
01 Exchange UNIUSD	+0.0096%	1h	9.1210	−0.066%	$455	—	10x	as long as short
Nado UNI-PERP	+0.0100%	1h	9.1095	−0.192%	$975K	$4.3M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	9.1114	−0.171%	$1.0M	$2.9M	50x	as long as short
Pacifica UNI	+0.0100%	1h	9.1118	−0.167%	$302K	$586K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	9.0990	−0.307%	$231.0M	$600.3M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	9.0960	−0.340%	$102.4M	$107.2M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	9.0940	−0.362%	$56.3M	$254.0M	50x	as long as short
Arcus UNI-USD	+0.0100%	1h	9.1130	−0.153%	$281K	$618K	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate UNI_USDT	+0.0100%	8h	9.0970	−0.329%	$23.2M	$60.8M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	9.1010	−0.285%	$50.8M	$25.3M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	9.1020	−0.274%	$13.7M	$13.6M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	9.0920	−0.383%	$33.4M	$42.7M	75x	as long as short
BingX UNI-USDT	+0.0100%	8h	9.0970	−0.329%	—	$57.0M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	9.1262	−0.009%	$1.0M	$2.4M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	9.0908	−0.396%	$4.1M	$4.4M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	9.1361	+0.099%	$172K	$345K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	9.1234	−0.040%	$639K	$2.6M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	9.1040	−0.252%	$89K	$708K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	9.1430	+0.175%	$56K	$3.3M	20x	as long as short
Polymarket Perps UNI-USDshort	+0.0100%	1h	9.1173	−0.106%	$85K	$390K	10x
Orderly PERP_UNI_USDC	+0.0100%	8h	9.1000	−0.296%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	9.1427	+0.172%	$37K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	9.1290	+0.022%	$22K	$709K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	9.1480	+0.230%	$724K	$4.4M	75x	as long as short
Phemex UNIUSDTlong	+0.0100%	8h	9.1270	long leg	$27.5M	$4.5M	50x
Paradex UNI-USD-PERP	+0.0100%	8h	9.1081	−0.207%	$26K	—	20x	as long as short
Extended UNI-USD	+0.0104%	1h	9.0939	−0.363%	$305K	$1.5M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	9.0960	−0.339%	$32K	—	3x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0152%	1h	9.1386	+0.127%	$591K	$186K	50x	as long as short
dYdX UNI-USD	+0.0190%	1h	9.1104	−0.182%	$244K	$24K	10x	as long as short
BloFin UNI-USDT	+0.0220%	8h	9.0960	−0.340%	$10.5M	$3.6M	75x	as long as short
Coinbase International UNI-PERP-INTX	+0.0272%	1h	9.1520	+0.274%	$1.1M	$4.8M	50x	as long as short
Reya UNIRUSDPERP	+0.0367%	1h	9.1099	−0.187%	$17K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0323%	1h	9.0976	−0.322%	$576K	—	120x	as long as short
Kraken Futures PF_UNIUSD	+0.0384%	1h	9.1363	+0.102%	$5.1M	$7.0M	50x	as long as short
Hyperliquid UNI	+0.0523%	1h	9.1259	−0.012%	$100.4M	$58.5M	10x	as long as short
Lighter UNI	+0.0944%	1h	9.1268	−0.002%	$4.7M	$5.4M	15x	as long as short
Aftermath Perps UNIUSD	+0.1047%	1h	9.1363	+0.102%	$952	$49K	10x	as long as short