Funding arb · Price arb /

UNI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0299%/8h= +32.8% APRpaid last 24h +0.077%

Price spread now: Reya against Phemex−0.140%7-day average — · you buy dearer than you sell

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

Long on Phemex Short on Reya

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

Funding pays, the price is against you. Reya is 0.140% cheaper against Phemex than usual: you would sell low and buy high (spread −0.140% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$14 on $10k: about 37 hours of funding at the current rate (+$9 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex UNIUSDT	9.0110	0.0083	pay 0.0083% / 8h	7h 21m	$27.2M	$4.4M	50x
Short	Reya UNIRUSDPERP	8.9984	0.0383	get 0.0048% / 1h	21m 11s	$16K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.140%Rate

Funding earned: $62.89
Price spread: −0.140% → 0.000%: −$14.01
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Reya: 3 bp × 2 orders: −$6
Net: $30.88
Costs to cover: 0.180%
Break-even: 3.6 days

Slippage unknown: Phemex: live order book, 3 min ago; Reya: 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 Phemex live order book, 3 min ago	3.92 bp	24.5 bp −$24	61.3 bp −$613	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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
Kraken Futures PF_UNIUSD	−0.0061%	1h	9.0263	+0.169%	$4.8M	$8.5M	50x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0005%	1h	8.9875	−0.261%	$77K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−2.009%	$660	$153K	12x	as long as short
Nado UNI-PERP	+0.0073%	1h	8.9930	−0.200%	$724K	$4.5M	10x	as long as short
Phemex UNIUSDTlong	+0.0083%	8h	9.0110	long leg	$27.2M	$4.4M	50x
01 Exchange UNIUSD	+0.0088%	1h	8.9957	−0.170%	$475	$31	10x	as long as short
Lighter UNI	+0.0096%	1h	9.0259	+0.165%	$4.5M	$5.5M	15x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.9897	−0.236%	$26K	—	20x	as long as short
Aster UNIUSDT	+0.0100%	8h	9.0200	+0.100%	$738K	$3.2M	50x	as long as short
Pacifica UNI	+0.0100%	1h	8.9914	−0.217%	$290K	$562K	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	9.0136	+0.029%	$218.1M	$645.9M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	9.0140	+0.033%	$100.1M	$109.7M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	9.0140	+0.033%	$55.1M	$262.0M	50x	as long as short
Arcus UNI-USD	+0.0100%	1h	9.0040	−0.078%	$326K	$704K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	9.0050	−0.067%	$27.2M	$62.9M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	9.0130	+0.022%	$47.8M	$25.6M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	9.0160	+0.055%	$13.2M	$13.1M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	9.0090	−0.022%	$33.7M	$45.9M	75x	as long as short
BingX UNI-USDT	+0.0100%	8h	9.0050	−0.067%	—	$58.2M	—	as long as short
Variational Omni UNI	+0.0100%	8h	8.8538	−1.745%	$4.1M	$4.0M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.9284	−0.917%	$169K	$347K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.9510	−0.666%	$628K	$2.6M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.9360	−0.832%	$90K	$711K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.9810	−0.333%	$22K	$3.5M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	9.0026	−0.093%	$105K	$615K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	9.0100	−0.011%	$17K	$2.4M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	9.0107	−0.003%	$36K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	9.0135	+0.028%	$32K	$897K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	9.0225	+0.128%	$714K	$4.6M	75x	as long as short
Extended UNI-USD	+0.0104%	1h	9.0108	−0.002%	$298K	$1.8M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	9.0130	+0.022%	$32K	—	3x	as long as short
Hyperliquid UNI	+0.0164%	1h	9.0091	−0.021%	$96.7M	$67.0M	10x	as long as short
Backpack UNI_USDC_PERP	+0.0166%	1h	8.9963	−0.163%	$1.1M	$2.5M	10x	as long as short
Coinbase International UNI-PERP-INTX	+0.0208%	1h	9.0160	+0.055%	$955K	$5.5M	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	9.0130	+0.022%	$10.4M	$3.7M	75x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0265%	1h	9.0205	+0.105%	$597K	$274K	50x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0244%	1h	9.0147	+0.041%	$640K	—	120x	as long as short
Reya UNIRUSDPERPshort	+0.0383%	1h	8.9984	−0.140%	$16K	—	20x
Aftermath Perps UNIUSD	+0.0433%	1h	8.9265	−0.938%	$1K	$51K	10x	as long as short
dYdX UNI-USD	+0.0554%	1h	8.9966	−0.160%	$236K	$32K	10x	as long as short