Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0143%/8h= +15.7% APRpaid last 24h +0.095%

Price spread now: GMX against Binance−0.017%7-day average +0.016% · you buy dearer than you sell

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

Long on Binance Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.097%+$10 on $10k

Price spread, last 4 days (all we have)+0.134%+$13 · spread now −0.017%, 7d avg +0.016%

Together, before fees+0.231%+$23 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.034% cheaper against Binance than usual: you would sell low and buy high (spread −0.017% now, against its 7-day average of +0.016%). If the spread goes back, that is −$3 on $10k: about 19 hours of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance UNIUSDT	9.0016	0.0100	pay 0.0100% / 8h	1h 55m	$218.0M	$660.1M	75x
Short	GMX UNI/USD [UNI-USDC]	9.0000	L +0.0381% / S −0.0243%	get 0.0030% / 1h	55m 21s	$640K	—	120x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Binance. 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 BinancebpFee GMXbpOrdersPrice spread, now −0.017%Rate

Funding earned: $30.13
Price spread: −0.017% → +0.016%: −$3.36
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: $4.77
Costs to cover: 0.220%
Break-even: 5.9 days

Slippage unknown: Binance: live order book, 4 min ago; GMX: 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 Binance live order book, 4 min ago	0.56 bp	6.8 bp −$7	12.1 bp −$121	33.0 bp −$3,298	150.4 bp −$75.2K
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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
Polymarket Perps UNI-USD	−0.0101%	1h	8.9986	−0.033%	$123K	$592K	10x	as long as short
Kraken Futures PF_UNIUSD	−0.0017%	1h	8.9935	−0.090%	$4.7M	$8.6M	50x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0007%	1h	8.9934	−0.091%	$49K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−1.906%	$660	$153K	12x	as long as short
01 Exchange UNIUSD	+0.0056%	1h	9.0012	−0.004%	$449	$5	10x	as long as short
Nado UNI-PERP	+0.0086%	1h	8.9987	−0.031%	$772K	$4.7M	10x	as long as short
Lighter UNI	+0.0096%	1h	9.0143	+0.141%	$4.5M	$5.6M	15x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.9997	−0.021%	$26K	—	20x	as long as short
Aster UNIUSDT	+0.0100%	8h	9.0041	+0.028%	$742K	$3.6M	50x	as long as short
Pacifica UNI	+0.0100%	1h	9.0030	+0.016%	$288K	$593K	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance UNIUSDTlong	+0.0100%	8h	9.0016	long leg	$218.0M	$660.1M	75x
Bybit UNIUSDT	+0.0100%	8h	8.9970	−0.051%	$100.1M	$112.4M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	8.9950	−0.073%	$54.8M	$268.3M	50x	as long as short
Arcus UNI-USD	+0.0100%	1h	9.0060	+0.049%	$321K	$705K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.9990	−0.029%	$24.8M	$65.9M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	9.0010	−0.006%	$49.6M	$26.5M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	9.0050	+0.038%	$13.2M	$13.4M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	9.0030	+0.016%	$33.1M	$45.8M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	9.0000	−0.018%	—	$6.5M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	9.0002	−0.015%	$1.1M	$2.4M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	8.9899	−0.129%	$4.1M	$4.3M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.9923	−0.103%	$170K	$344K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.9848	−0.186%	$623K	$2.7M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.9890	−0.140%	$90K	$708K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.9960	−0.062%	$15K	$3.5M	20x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	9.0000	−0.018%	$17K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.9954	−0.069%	$37K	$1.4M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.9890	−0.140%	$32K	$887K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	9.0027	+0.012%	$707K	$5.0M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.9890	−0.140%	$27.1M	$4.5M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	8.9947	−0.077%	$299K	$1.7M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.9910	−0.118%	$32K	—	3x	as long as short
dYdX UNI-USD	+0.0111%	1h	9.0015	−0.001%	$237K	$31K	10x	as long as short
Coinbase International UNI-PERP-INTX	+0.0192%	1h	9.0100	+0.094%	$939K	$5.6M	50x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0202%	1h	8.9956	−0.067%	$593K	$248K	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.9730	−0.317%	$10.1M	$3.7M	75x	as long as short
Reya UNIRUSDPERP	+0.0378%	1h	9.0000	−0.017%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]short	L +0.0381% / S −0.0243%	1h	9.0000	−0.017%	$640K	—	120x
Aftermath Perps UNIUSD	+0.0482%	1h	9.0054	+0.042%	$1K	$54K	10x	as long as short
Hyperliquid UNI	+0.0561%	1h	9.0153	+0.152%	$97.0M	$66.8M	10x	as long as short