Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0091%/8h= −10.0% APRpaid last 24h −0.004%

Price spread now: Nado against BingX+0.154%7-day average +0.040% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$13as in the Price arb table

costs, in and out, $10k−$250.245% of the position

Long on BingX Short on Nado

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.009%−$1 on $10k

Price spread, last 7 days−0.105%−$10 · spread now +0.154%, 7d avg +0.040%

Together, before fees−0.114%+ Points / potential airdropNado: Active · farm board−$11 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Nado is 0.115% dearer against BingX than usual: you sell high and buy low (spread +0.154% now, against its 7-day average of +0.040%): +$11 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 4.2 days. At the pace of the last 4 days (−0.009% in total) that is about 47 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX UNI-USDT	8.7440	0.0100	pay 0.0100% / 8h	5h 27m	—	$49.9M	—
Short	Nado UNI-PERP	8.7575	0.0009	get 0.0001% / 1h	27m 49s	$660K	$3.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against BingX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 NadobpOrdersPrice spread, now +0.154%Rate

Funding earned: −$19.13
Price spread: +0.154% → +0.040%: $11.47
Slippage, 4 orders: −$7.54
Fee BingX: 5 bp × 2 orders: −$10
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$32.21
Costs to cover: 0.245%
Break-even: never at this rate

Slippage from BingX: live order book, 4 min ago; Nado: live order book, 4 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, 4 min ago	0.57 bp	5.6 bp −$6	6.6 bp −$66	14.4 bp −$1,435	58.3 bp −$29.2K
Sell Nado live order book, 4 min ago	0.92 bp	6.3 bp −$6	11.7 bp −$117	doesn't fit	doesn't fit

UNI on 40 exchanges

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
Deribit UNI_USDC-PERPETUAL	0.0000%	1h	8.7555	+0.132%	$579K	$214K	50x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0005%	1h	8.7523	+0.095%	$75K	—	150x	as long as short
Nado UNI-PERPshort	+0.0009%	1h	8.7575	+0.154%	$660K	$3.9M	10x
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	+0.984%	$660	$147K	12x	as long as short
01 Exchange UNIUSD	+0.0064%	1h	8.7621	+0.207%	$437	$56	10x	as long as short
OKX UNI-USDT-SWAP	+0.0095%	8h	8.7400	−0.046%	$54.0M	$220.0M	50x	as long as short
Lighter UNI	+0.0096%	1h	8.7554	+0.130%	$4.3M	$4.8M	15x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.7395	−0.051%	$25K	—	20x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.7497	+0.065%	$766K	$2.5M	50x	as long as short
Pacifica UNI	+0.0100%	1h	8.7450	+0.011%	$288K	$458K	10x	as long as short

Show all 40 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance UNIUSDT	+0.0100%	8h	8.7450	+0.011%	$212.4M	$562.9M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	8.7410	−0.034%	$96.6M	$95.9M	75x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.7630	+0.217%	$318K	$518K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.7440	0.000%	$27.7M	$55.7M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.7450	+0.011%	$45.9M	$20.9M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.7450	+0.011%	$12.9M	$11.0M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.7400	−0.046%	$32.5M	$41.8M	75x	as long as short
BingX UNI-USDTlong	+0.0100%	8h	8.7440	long leg	—	$49.9M	—
Backpack UNI_USDC_PERP	+0.0100%	1h	8.7577	+0.157%	$1.1M	$2.3M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	8.7304	−0.155%	$4.0M	$2.3M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.7282	−0.181%	$164K	$346K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.7380	−0.069%	$619K	$2.2M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.7310	−0.149%	$88K	$714K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.7500	+0.069%	$92K	$3.4M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.7532	+0.105%	$87K	$600K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.7490	+0.057%	$16K	$2.4M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.7599	+0.182%	$36K	$1.1M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.7479	+0.045%	$32K	$726K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.7587	+0.168%	$701K	$3.8M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.7490	+0.057%	$26.4M	$4.6M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	8.7371	−0.079%	$292K	$1.7M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.7495	+0.063%	$31K	—	3x	as long as short
Kraken Futures PF_UNIUSD	+0.0132%	1h	8.7551	+0.127%	$4.7M	$7.6M	50x	as long as short
Hyperliquid UNI	+0.0141%	1h	8.7526	+0.098%	$93.8M	$61.0M	10x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.7520	+0.091%	$10.0M	$3.3M	75x	as long as short
Coinbase International UNI-PERP-INTX	+0.0240%	1h	8.7590	+0.172%	$908K	$4.2M	50x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0244%	1h	8.7502	+0.071%	$622K	—	120x	as long as short
Reya UNIRUSDPERP	+0.0387%	1h	8.7491	+0.058%	$16K	—	20x	as long as short
Aftermath Perps UNIUSD	+0.0497%	1h	8.7586	+0.167%	$1K	$49K	10x	as long as short
dYdX UNI-USD	+0.0553%	1h	8.7559	+0.136%	$229K	$32K	10x	as long as short