Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.003%

Price spread now: Backpack against SunX+0.134%7-day average −0.020% · you sell dearer than you buy

Net, funding: paid 7d − costs−$51as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$500.497% of the position

Long on SunX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.013%−$1 on $10k

Price spread, last 3 days (all we have)−0.439%−$44 · spread now +0.134%, 7d avg −0.020%

Together, before fees−0.452%−$45 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: Backpack is 0.154% dearer against SunX than usual: you sell high and buy low, +$15 on $10k if it goes back to its 7-day average of −0.020%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX UNI-USDT	8.8276	0.0100	pay 0.0100% / 8h	1h 34m	$36K	$1.3M	30x
Short	Backpack UNI_USDC_PERP	8.8394	0.0100	get 0.0013% / 1h	34m 11s	$981K	$2.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against SunX. 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 SunXbpFee BackpackbpOrdersPrice spread, now +0.134%Rate

Funding earned: $0
Price spread: +0.134% → −0.020%: $15.39
Slippage, 4 orders: −$31.67
Fee SunX: 4 bp × 2 orders: −$8
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$34.28
Costs to cover: 0.497%
Break-even: never at this rate

Slippage from SunX: live order book, 10 min ago; Backpack: 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 SunX live order book, 10 min ago	13.89 bp	17.9 bp −$18	34.6 bp −$346	doesn't fit	doesn't fit
Sell Backpack live order book, 5 min ago	0.06 bp	6.1 bp −$6	111.5 bp −$1,115	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
Variational Omni UNI	−0.0076%	8h	8.8115	−0.183%	$3.9M	$4.5M	—	as long as short
Bybit UNIUSDT	−0.0020%	8h	8.8330	+0.061%	$100.7M	$104.3M	75x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0004%	1h	8.8338	+0.070%	$61K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.7900	−0.426%	$657	$96K	12x	as long as short
OKX UNI-USDT-SWAP	+0.0039%	8h	8.8360	+0.095%	$54.6M	$243.6M	50x	as long as short
01 Exchange UNIUSD	+0.0040%	1h	8.8254	−0.025%	$440	—	10x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.8310	+0.038%	$25K	—	20x	as long as short
Nado UNI-PERP	+0.0100%	1h	8.8210	−0.075%	$933K	$4.0M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.8344	+0.077%	$1.0M	$3.4M	50x	as long as short
Pacifica UNI	+0.0100%	1h	8.8330	+0.061%	$296K	$570K	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	8.8362	+0.097%	$216.8M	$588.0M	75x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.8390	+0.129%	$282K	$615K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.8360	+0.095%	$22.9M	$58.5M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.8320	+0.050%	$42.6M	$24.5M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.8380	+0.118%	$13.5M	$13.8M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.8350	+0.084%	$32.1M	$41.3M	75x	as long as short
BingX UNI-USDT	+0.0100%	8h	8.8350	+0.084%	—	$52.0M	—	as long as short
Backpack UNI_USDC_PERPshort	+0.0100%	1h	8.8394	+0.134%	$981K	$2.3M	10x
edgeX UNIUSDC	+0.0100%	4h	8.8262	−0.016%	$166K	$343K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.8189	−0.098%	$611K	$2.5M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.8450	+0.197%	$87K	$713K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.8240	−0.041%	$105K	$3.2M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.8230	−0.052%	$86K	$351K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.8330	+0.061%	$16K	$1.7M	10x	as long as short
SunX UNI-USDTlong	+0.0100%	8h	8.8276	long leg	$36K	$1.3M	30x
SoDEX UNI-USD	+0.0100%	1h	8.8355	+0.089%	$25K	$666K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.8316	+0.045%	$726K	$4.3M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.8330	+0.061%	$26.6M	$4.5M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	8.8332	+0.063%	$300K	$1.4M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.8374	+0.110%	$31K	$1K	3x	as long as short
dYdX UNI-USD	+0.0119%	1h	8.8300	+0.028%	$244K	$6K	10x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0123%	1h	8.8410	+0.151%	$562K	$157K	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.8350	+0.084%	$9.8M	$3.3M	75x	as long as short
Coinbase International UNI-PERP-INTX	+0.0224%	1h	8.8390	+0.129%	$1.0M	$5.3M	50x	as long as short
Hyperliquid UNI	+0.0313%	1h	8.8472	+0.222%	$96.8M	$59.1M	10x	as long as short
Kraken Futures PF_UNIUSD	+0.0342%	1h	8.8437	+0.182%	$4.9M	$7.0M	50x	as long as short
Reya UNIRUSDPERP	+0.0362%	1h	8.8192	−0.096%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0379% / S −0.0319%	1h	8.8334	+0.066%	$553K	—	120x	as long as short
Lighter UNI	+0.0592%	1h	8.8536	+0.295%	$4.5M	$5.2M	15x	as long as short
Aftermath Perps UNIUSD	+0.0617%	1h	8.8308	+0.037%	$1K	$49K	10x	as long as short