Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0420%/8h= +46.0% APRpaid last 24h +0.184%

Price spread now: Lighter against BingX+0.178%7-day average +0.132% · you sell dearer than you buy

Net, funding: paid 7d − costs+$1as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$390.395% of the position

Long on BingX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.402%+$40 on $10k

Price spread, last 7 days−0.020%−$2 · spread now +0.178%, 7d avg +0.132%

Together, before fees+0.382%+ Points / potential airdropLighter: Season 3 · farm board+$38 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$13 a day on $10k at the current rate, and Lighter is 0.045% dearer against BingX than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.132%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX UNI-USDC	9.1830	0.0100	pay 0.0100% / 8h	6h 02m	—	$6.5M	—
Short	Lighter UNI	9.1993	0.0520	get 0.0065% / 1h	2m 35s	$4.7M	$5.3M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against BingX. 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 BingXbpFee LighterbpOrdersPrice spread, now +0.178%Rate

Funding earned: $88.2
Price spread: +0.178% → +0.132%: $4.53
Slippage, 4 orders: −$29.49
Fee BingX: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: $53.23
Costs to cover: 0.395%
Break-even: 2.8 days

Slippage from BingX: live order book, 3 min ago; Lighter: 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 BingX live order book, 3 min ago	1.64 bp	12.8 bp −$13	28.2 bp −$282	81.1 bp −$8,110	588.4 bp −$294.2K
Sell Lighter live order book, 5 min ago	1.92 bp	2.6 bp −$3	18.3 bp −$183	139.0 bp −$13.9K	doesn't fit

UNI on 39 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 −0.0007%	1h	9.1888	+0.063%	$26K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−3.844%	$660	$154K	12x	as long as short
01 Exchange UNIUSD	+0.0072%	1h	9.1964	+0.146%	$459	$5	10x	as long as short
dYdX UNI-USD	+0.0077%	1h	9.1842	+0.013%	$242K	$30K	10x	as long as short
Nado UNI-PERP	+0.0100%	1h	9.1925	+0.103%	$975K	$4.3M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	9.1968	+0.150%	$1.1M	$2.9M	50x	as long as short
Pacifica UNI	+0.0100%	1h	9.1860	+0.033%	$300K	$568K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	9.1941	+0.121%	$230.1M	$607.6M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	9.1930	+0.109%	$103.2M	$107.4M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	9.1940	+0.120%	$56.8M	$256.1M	50x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus UNI-USD	+0.0100%	1h	9.1940	+0.120%	$291K	$618K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	9.1810	−0.022%	$23.5M	$59.5M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	9.1840	+0.011%	$49.8M	$26.5M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	9.1850	+0.022%	$13.8M	$12.8M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	9.1890	+0.065%	$33.7M	$42.4M	75x	as long as short
BingX UNI-USDClong	+0.0100%	8h	9.1830	long leg	—	$6.5M	—
Backpack UNI_USDC_PERP	+0.0100%	1h	9.1784	−0.050%	$1.0M	$2.3M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	9.1159	−0.731%	$4.2M	$4.3M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	9.1120	−0.773%	$172K	$345K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	9.1496	−0.364%	$636K	$2.6M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	9.1140	−0.751%	$89K	$700K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	9.1620	−0.229%	$56K	$3.3M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	9.1970	+0.152%	$88K	$406K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	9.1940	+0.120%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	9.1964	+0.146%	$37K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	9.1951	+0.132%	$22K	$727K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	9.2028	+0.216%	$731K	$4.2M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	9.1850	+0.022%	$27.7M	$4.5M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	9.1785	−0.049%	$26K	—	20x	as long as short
Extended UNI-USD	+0.0104%	1h	9.1795	−0.038%	$304K	$1.5M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	9.1943	+0.124%	$33K	—	3x	as long as short
Hyperliquid UNI	+0.0274%	1h	9.2089	+0.282%	$100.2M	$59.0M	10x	as long as short
Coinbase International UNI-PERP-INTX	+0.0312%	1h	9.1940	+0.120%	$1.1M	$4.7M	50x	as long as short
Reya UNIRUSDPERP	+0.0369%	1h	9.1902	+0.078%	$17K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0244%	1h	9.1886	+0.061%	$654K	—	120x	as long as short
Kraken Futures PF_UNIUSD	+0.0417%	1h	9.2027	+0.214%	$5.1M	$6.9M	50x	as long as short
Lighter UNIshort	+0.0520%	1h	9.1993	+0.178%	$4.7M	$5.3M	15x
Deribit UNI_USDC-PERPETUAL	+0.0619%	1h	9.1997	+0.182%	$597K	$188K	50x	as long as short
Aftermath Perps UNIUSD	+0.0921%	1h	9.1365	−0.506%	$1K	$48K	10x	as long as short