Funding arb · Price arb /

UNI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Phemex against Arcus−0.089%7-day average −0.049% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

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

Long on Arcus 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 3 days (all we have)+0.144%+$14 · spread now −0.089%, 7d avg −0.049%

Together, before fees+0.141%+$14 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 0.040% cheaper against Arcus than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.049%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus UNI-USD	9.0150	0.0100	pay 0.0013% / 1h	20m 35s	$266K	$632K	10x
Short	Phemex UNIUSDT	9.0070	0.0100	get 0.0100% / 8h	20m 35s	$27.2M	$4.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Arcus. 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 ArcusbpFee PhemexbpOrdersPrice spread, now −0.089%Rate

Funding earned: $0
Price spread: −0.089% → −0.049%: −$4
Slippage, 4 orders: −$28.24
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$48.73
Costs to cover: 0.447%
Break-even: never at this rate

Slippage from Arcus: live order book, 58 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 Arcus live order book, 58 min ago	3.93 bp	7.8 bp −$8	12.9 bp −$129	doesn't fit	doesn't fit
Sell Phemex live order book, 3 min ago	2.23 bp	13.2 bp −$13	25.9 bp −$259	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
Injective UNI/USDC PERP	−0.0049%	1h	8.8300	−2.052%	$660	$155K	12x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0004%	1h	9.0065	−0.095%	$62K	—	150x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0010%	1h	9.0088	−0.069%	$580K	$176K	50x	as long as short
Variational Omni UNI	+0.0063%	8h	9.0063	−0.097%	$4.1M	$4.4M	—	as long as short
OKX UNI-USDT-SWAP	+0.0093%	8h	9.0040	−0.122%	$55.1M	$250.0M	50x	as long as short
Bybit UNIUSDT	+0.0096%	8h	9.0040	−0.122%	$102.1M	$104.9M	75x	as long as short
Nado UNI-PERP	+0.0100%	1h	9.0050	−0.111%	$955K	$4.2M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	9.0159	+0.009%	$1.0M	$3.3M	50x	as long as short
Pacifica UNI	+0.0100%	1h	9.0100	−0.055%	$298K	$593K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	9.0080	−0.078%	$222.9M	$590.2M	75x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus UNI-USDlong	+0.0100%	1h	9.0150	long leg	$266K	$632K	10x
Gate UNI_USDT	+0.0100%	8h	9.0060	−0.100%	$23.0M	$58.9M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	9.0080	−0.078%	$43.9M	$24.1M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	9.0140	−0.011%	$13.7M	$13.5M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	9.0090	−0.067%	$32.9M	$42.0M	75x	as long as short
BingX UNI-USDT	+0.0100%	8h	9.0050	−0.111%	—	$52.0M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	9.0131	−0.021%	$1.0M	$2.4M	10x	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.9766	−0.426%	$169K	$343K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.9890	−0.289%	$631K	$2.5M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.9810	−0.377%	$88K	$712K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	9.0140	−0.011%	$36K	$3.3M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	9.0126	−0.027%	$85K	$363K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	9.0060	−0.100%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	9.0171	+0.023%	$37K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	9.0049	−0.112%	$21K	$676K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	9.0213	+0.070%	$720K	$4.3M	75x	as long as short
Phemex UNIUSDTshort	+0.0100%	8h	9.0070	−0.089%	$27.2M	$4.5M	50x
Paradex UNI-USD-PERP	+0.0100%	8h	9.0035	−0.128%	$26K	—	20x	as long as short
Extended UNI-USD	+0.0104%	1h	9.0028	−0.135%	$303K	$1.5M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	9.0064	−0.095%	$32K	$1K	3x	as long as short
01 Exchange UNIUSD	+0.0168%	1h	9.0117	−0.037%	$450	—	10x	as long as short
BloFin UNI-USDT	+0.0220%	8h	9.0100	−0.055%	$10.0M	$3.5M	75x	as long as short
Coinbase International UNI-PERP-INTX	+0.0232%	1h	9.0130	−0.022%	$1.1M	$5.4M	50x	as long as short
dYdX UNI-USD	+0.0236%	1h	9.0076	−0.083%	$249K	$6K	10x	as long as short
Reya UNIRUSDPERP	+0.0364%	1h	9.0070	−0.089%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0382% / S −0.0323%	1h	9.0073	−0.085%	$570K	—	120x	as long as short
Hyperliquid UNI	+0.0502%	1h	9.0261	+0.123%	$99.1M	$59.1M	10x	as long as short
Kraken Futures PF_UNIUSD	+0.0562%	1h	9.0106	−0.049%	$5.0M	$7.0M	50x	as long as short
Aftermath Perps UNIUSD	+0.0815%	1h	9.0058	−0.102%	$1K	$49K	10x	as long as short
Lighter UNI	+0.0888%	1h	9.0318	+0.186%	$4.6M	$5.3M	15x	as long as short