Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0120%/8h= −13.1% APRpaid last 24h −0.030%

Price spread now: Backpack against BloFin0.000%7-day average +0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs−$49as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$290.293% of the position

Long on BloFin Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.192%−$19 on $10k

Price spread, last 3 days (all we have)−0.262%−$26 · spread now 0.000%, 7d avg +0.013%

Together, before fees−0.454%−$45 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.013%, so right now this pair is about funding alone: −$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin UNI-USDT	8.9130	0.0220	pay 0.0220% / 8h	2h 22m	$9.8M	$3.4M	75x
Short	Backpack UNI_USDC_PERP	8.9130	0.0100	get 0.0013% / 1h	22m 26s	$988K	$2.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against BloFin. 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 BloFinbpFee BackpackbpOrdersPrice spread, now 0.000%Rate

Funding earned: −$25.2
Price spread: 0.000% → +0.013%: −$1.33
Slippage, 4 orders: −$7.29
Fee BloFin: 6 bp × 2 orders: −$12
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$55.82
Costs to cover: 0.293%
Break-even: never at this rate

Slippage from BloFin: live order book, 6 min ago; Backpack: live order book, 2 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 BloFin live order book, 6 min ago	1.68 bp	8.0 bp −$8	12.7 bp −$127	35.5 bp −$3,551	doesn't fit
Sell Backpack live order book, 2 min ago	0.22 bp	5.6 bp −$6	148.9 bp −$1,489	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
Variational Omni UNI	−0.0161%	8h	8.9562	+0.485%	$4.0M	$4.6M	—	as long as short
Bybit UNIUSDT	−0.0115%	8h	8.9070	−0.067%	$101.6M	$106.0M	75x	as long as short
Deribit UNI_USDC-PERPETUAL	0.0000%	1h	8.9194	+0.072%	$564K	$138K	50x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0006%	1h	8.9149	+0.022%	$80K	—	150x	as long as short
OKX UNI-USDT-SWAP	+0.0023%	8h	8.9050	−0.090%	$54.8M	$248.2M	50x	as long as short
01 Exchange UNIUSD	+0.0024%	1h	8.9164	+0.038%	$445	—	10x	as long as short
dYdX UNI-USD	+0.0073%	1h	8.9126	−0.005%	$247K	$5K	10x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.9062	−0.077%	$25K	—	20x	as long as short
Nado UNI-PERP	+0.0100%	1h	8.9060	−0.079%	$861K	$4.0M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.9160	+0.034%	$1.0M	$3.4M	50x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica UNI	+0.0100%	1h	8.9116	−0.015%	$301K	$564K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	8.9120	−0.011%	$217.8M	$595.1M	75x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.9220	+0.101%	$275K	$612K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.9130	0.000%	$23.1M	$59.3M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.9120	−0.011%	$43.3M	$24.7M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.9130	0.000%	$13.5M	$13.9M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.9130	0.000%	$32.3M	$41.5M	75x	as long as short
BingX UNI-USDT	+0.0100%	8h	8.9120	−0.011%	—	$49.9M	—	as long as short
Backpack UNI_USDC_PERPshort	+0.0100%	1h	8.9130	0.000%	$988K	$2.3M	10x
edgeX UNIUSDC	+0.0100%	4h	8.9369	+0.269%	$168K	$341K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.9440	+0.348%	$628K	$2.6M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.9430	+0.337%	$84K	$712K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.9180	+0.056%	$106K	$3.2M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.9150	+0.022%	$94K	$331K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.9070	−0.067%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.9131	+0.001%	$36K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.9100	−0.034%	$25K	$666K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.9320	+0.213%	$728K	$4.3M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.9080	−0.056%	$26.9M	$4.3M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	8.9080	−0.056%	$308K	$1.5M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.9080	−0.056%	$32K	$1K	3x	as long as short
Coinbase International UNI-PERP-INTX	+0.0200%	1h	8.9400	+0.303%	$1.0M	$5.4M	50x	as long as short
BloFin UNI-USDTlong	+0.0220%	8h	8.9130	long leg	$9.8M	$3.4M	75x
Kraken Futures PF_UNIUSD	+0.0267%	1h	8.9159	+0.033%	$5.0M	$7.1M	50x	as long as short
Hyperliquid UNI	+0.0295%	1h	8.9268	+0.155%	$97.2M	$59.8M	10x	as long as short
Reya UNIRUSDPERP	+0.0360%	1h	8.9101	−0.033%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0379% / S −0.0320%	1h	8.9162	+0.036%	$559K	—	120x	as long as short
Aftermath Perps UNIUSD	+0.0523%	1h	8.9217	+0.098%	$1K	$50K	10x	as long as short
Lighter UNI	+0.0560%	1h	8.9275	+0.163%	$4.6M	$5.4M	15x	as long as short
Injective UNI/USDC PERP	+0.2702%	1h	8.7900	−1.380%	$657	$97K	12x	as long as short