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% APRpaid last 24h 0.000%

Price spread now: Phemex against SoDEX+0.073%57s7-day average +0.032% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$450.447% of the position

Long on SoDEX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.003%$0 on $10k

Price spread, last 4 days (all we have)−0.072%−$7 · spread now +0.073%, 7d avg +0.032%

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: Phemex is 0.042% dearer against SoDEX than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.032%. The two prices were read 57 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	SoDEX UNI-USD	8.8455	0.0100	pay 0.0013% / 1h	56m 24s	$32K	$888K	10x
Short	Phemex UNIUSDT	8.8520	0.0100	get 0.0100% / 8h	56m 24s	$26.7M	$4.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against SoDEX. 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 SoDEXbpFee PhemexbpOrdersPrice spread, now +0.073%Rate

Funding earned: $0
Price spread: +0.073% → +0.032%: $4.2
Slippage, 4 orders: −$24.7
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$40.5
Costs to cover: 0.447%
Break-even: never at this rate

Slippage from SoDEX: live order book, 47 min ago; Phemex: 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 SoDEX live order book, 47 min ago	0.56 bp	10.0 bp −$10	29.1 bp −$291	doesn't fit	doesn't fit
Sell Phemex live order book, 3 min ago	0.56 bp	13.3 bp −$13	19.4 bp −$194	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
Kraken Futures PF_UNIUSD	−0.0307%	1h	8.8515	+0.068%	$4.7M	$8.6M	50x	as long as short
01 Exchange UNIUSD	−0.0064%	1h	8.8428	−0.031%	$441	$5	10x	as long as short
Polymarket Perps UNI-USD	−0.0012%	1h	8.8440	−0.017%	$106K	$616K	10x	as long as short
Deribit UNI_USDC-PERPETUAL	0.0000%	1h	8.8523	+0.077%	$583K	$250K	50x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0007%	1h	8.8475	+0.023%	$48K	—	150x	as long as short
Nado UNI-PERP	+0.0031%	1h	8.8400	−0.062%	$736K	$4.7M	10x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−0.175%	$660	$153K	12x	as long as short
Lighter UNI	+0.0096%	1h	8.8562	+0.121%	$4.4M	$5.5M	15x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.8405	−0.057%	$25K	—	20x	as long as short
Hyperliquid UNI	+0.0100%	1h	8.8564	+0.123%	$94.2M	$67.7M	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster UNIUSDT	+0.0100%	8h	8.8492	+0.042%	$725K	$3.6M	50x	as long as short
Pacifica UNI	+0.0100%	1h	8.8454	−0.001%	$283K	$590K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	8.8440	−0.017%	$213.7M	$657.7M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	8.8420	−0.040%	$97.9M	$111.4M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	8.8420	−0.040%	$53.9M	$263.5M	50x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.8500	+0.051%	$316K	$695K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.8480	+0.028%	$25.3M	$65.6M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.8470	+0.017%	$48.3M	$26.0M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.8470	+0.017%	$13.0M	$13.4M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.8430	−0.028%	$32.4M	$45.4M	75x	as long as short
BingX UNI-USDT	+0.0100%	8h	8.8440	−0.017%	—	$57.1M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	8.8555	+0.113%	$1.1M	$2.4M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	8.8510	+0.062%	$4.1M	$4.3M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.8593	+0.155%	$168K	$345K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.8480	+0.028%	$619K	$2.7M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.8620	+0.187%	$89K	$709K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.8510	+0.062%	$15K	$3.4M	20x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.8410	−0.051%	$16K	$2.1M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.8490	+0.040%	$36K	$1.4M	30x	as long as short
SoDEX UNI-USDlong	+0.0100%	1h	8.8455	long leg	$32K	$888K	10x
HTX UNI-USDT	+0.0100%	8h	8.8604	+0.168%	$694K	$4.8M	75x	as long as short
Phemex UNIUSDTshort	+0.0100%	8h	8.8520	+0.073%	$26.7M	$4.5M	50x
Extended UNI-USD	+0.0104%	1h	8.8415	−0.045%	$287K	$1.7M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.8475	+0.023%	$31K	—	3x	as long as short
Coinbase International UNI-PERP-INTX	+0.0200%	1h	8.8520	+0.073%	$922K	$5.4M	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.8540	+0.096%	$10.0M	$3.6M	75x	as long as short
Reya UNIRUSDPERP	+0.0380%	1h	8.8397	−0.066%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0243%	1h	8.8506	+0.057%	$630K	—	120x	as long as short
Aftermath Perps UNIUSD	+0.0492%	1h	8.8625	+0.192%	$986	$53K	10x	as long as short
dYdX UNI-USD	+0.0702%	1h	8.8449	−0.007%	$233K	$30K	10x	as long as short