Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.006%

Price spread now: Binance against Backpack−0.206%55s7-day average −0.514% · you buy dearer than you sell

Net, funding: paid 7d − costs−$36as 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−$310.305% of the position

Long on Backpack Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.053%−$5 on $10k

Price spread, last 7 days−0.159%−$16 · spread now −0.206%, 7d avg −0.514%

Together, before fees−0.212%−$21 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: Binance is 0.308% dearer against Backpack than usual: you sell high and buy low, +$31 on $10k if it goes back to its 7-day average of −0.514%. The two prices were read 55 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	Backpack UNI_USDC_PERP	9.0797	0.0100	pay 0.0013% / 1h	50m 18s	$1.0M	$2.3M	10x
Short	Binance UNIUSDT	9.0610	0.0100	get 0.0100% / 8h	4h 50m	$224.4M	$628.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Backpack. 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 BackpackbpFee BinancebpOrdersPrice spread, now −0.206%Rate

Funding earned: $0
Price spread: −0.206% → −0.514%: $30.79
Slippage, 4 orders: −$10.51
Fee Backpack: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: $0.28
Costs to cover: 0.305%
Break-even: from the start

Slippage from Backpack: live order book, 4 min ago; Binance: live order book, 9 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 Backpack live order book, 4 min ago	0.66 bp	6.3 bp −$6	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 9 min ago	0.55 bp	9.0 bp −$9	15.7 bp −$157	43.3 bp −$4,330	150.9 bp −$75.5K

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 −0.0004%	1h	9.0666	−0.144%	$37K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−2.750%	$660	$154K	12x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0052%	1h	9.0655	−0.156%	$581K	$193K	50x	as long as short
01 Exchange UNIUSD	+0.0056%	1h	9.0722	−0.083%	$453	$5	10x	as long as short
Nado UNI-PERP	+0.0100%	1h	9.0615	−0.200%	$905K	$4.3M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	9.0682	−0.127%	$1.0M	$3.0M	50x	as long as short
Pacifica UNI	+0.0100%	1h	9.0677	−0.132%	$296K	$589K	10x	as long as short
Binance UNIUSDTshort	+0.0100%	8h	9.0610	−0.206%	$224.4M	$628.5M	75x
Bybit UNIUSDT	+0.0100%	8h	9.0520	−0.305%	$101.7M	$110.5M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	9.0550	−0.272%	$55.6M	$256.6M	50x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus UNI-USD	+0.0100%	1h	9.0720	−0.085%	$287K	$613K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	9.0640	−0.173%	$23.0M	$62.2M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	9.0570	−0.250%	$48.5M	$25.2M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	9.0560	−0.261%	$13.6M	$13.1M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	9.0600	−0.217%	$33.3M	$43.9M	75x	as long as short
BingX UNI-USDT	+0.0100%	8h	9.0660	−0.151%	—	$56.5M	—	as long as short
Backpack UNI_USDC_PERPlong	+0.0100%	1h	9.0797	long leg	$1.0M	$2.3M	10x
Variational Omni UNI	+0.0100%	8h	9.0589	−0.229%	$4.3M	$4.3M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	9.1122	+0.358%	$172K	$344K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	9.1180	+0.422%	$635K	$2.7M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	9.1120	+0.356%	$89K	$694K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	9.0720	−0.085%	$36K	$3.3M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	9.0693	−0.115%	$87K	$420K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	9.0600	−0.217%	$16K	$1.6M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	9.0644	−0.169%	$37K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	9.0604	−0.213%	$22K	$781K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	9.0810	+0.014%	$715K	$4.5M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	9.0630	−0.184%	$27.4M	$4.5M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	9.0752	−0.050%	$26K	—	20x	as long as short
Extended UNI-USD	+0.0104%	1h	9.0551	−0.270%	$298K	$1.6M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	9.0591	−0.227%	$32K	—	3x	as long as short
dYdX UNI-USD	+0.0161%	1h	9.0671	−0.139%	$239K	$30K	10x	as long as short
BloFin UNI-USDT	+0.0220%	8h	9.0750	−0.052%	$10.4M	$3.5M	75x	as long as short
Coinbase International UNI-PERP-INTX	+0.0248%	1h	9.0730	−0.074%	$1.1M	$5.4M	50x	as long as short
Kraken Futures PF_UNIUSD	+0.0270%	1h	9.0669	−0.141%	$5.0M	$7.8M	50x	as long as short
Lighter UNI	+0.0336%	1h	9.0741	−0.062%	$4.6M	$5.8M	15x	as long as short
Reya UNIRUSDPERP	+0.0372%	1h	9.0632	−0.182%	$17K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0244%	1h	9.0656	−0.155%	$646K	—	120x	as long as short
Hyperliquid UNI	+0.0475%	1h	9.0779	−0.020%	$98.6M	$61.6M	10x	as long as short
Aftermath Perps UNIUSD	+0.1078%	1h	9.1080	+0.312%	$1K	$46K	10x	as long as short