Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0187%/8h= −20.4% APRpaid last 24h +0.136%

Price spread now: Injective against BloFin−1.823%234s7-day average +0.158% · you buy dearer than you sell

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

Long on BloFin Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.738%−$74 on $10k

Price spread, last 3 days (all we have)+1.904%+$190 · spread now −1.823%, 7d avg +0.158%

Together, before fees+1.166%+$117 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Injective is 1.982% cheaper against BloFin than usual: you would sell low and buy high (−$198 if the spread goes back to its 7-day average of +0.158%). Swap the legs. The two prices were read 234 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	BloFin UNI-USDT	8.9940	0.0220	pay 0.0220% / 8h	6h 44m	$10.3M	$3.6M	75x
Short	Injective UNI/USDC PERP	8.8300	0.0033	get 0.0004% / 1h	44m 31s	$660	$154K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against BloFin. 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 BloFinbpFee InjectivebpOrdersPrice spread, now −1.823%Rate

Funding earned: −$39.2
Price spread: −1.823% → +0.158%: −$198.16
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$249.38
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: BloFin: live order book, 4 min ago; Injective: 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 BloFin live order book, 4 min ago	1.67 bp	9.7 bp −$10	18.1 bp −$181	55.8 bp −$5,585	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0004%	1h	8.9527	−0.460%	$37K	—	150x	as long as short
dYdX UNI-USD	+0.0027%	1h	8.9636	−0.338%	$236K	$30K	10x	as long as short
Injective UNI/USDC PERPshort	+0.0033%	1h	8.8300	−1.823%	$660	$154K	12x
Deribit UNI_USDC-PERPETUAL	+0.0045%	1h	8.9549	−0.435%	$579K	$187K	50x	as long as short
01 Exchange UNIUSD	+0.0048%	1h	8.9787	−0.170%	$448	—	10x	as long as short
Nado UNI-PERP	+0.0100%	1h	8.9905	−0.039%	$933K	$4.3M	10x	as long as short
Hyperliquid UNI	+0.0100%	1h	8.9609	−0.368%	$97.6M	$59.8M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.9581	−0.399%	$1.0M	$2.9M	50x	as long as short
Pacifica UNI	+0.0100%	1h	8.9627	−0.348%	$294K	$582K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	8.9889	−0.057%	$224.0M	$609.9M	75x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit UNIUSDT	+0.0100%	8h	8.9890	−0.056%	$100.7M	$107.8M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	8.9910	−0.033%	$55.4M	$253.4M	50x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.9830	−0.122%	$274K	$616K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.9720	−0.245%	$22.9M	$58.0M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.9690	−0.278%	$49.7M	$25.0M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.9730	−0.233%	$13.4M	$13.7M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.9870	−0.078%	$32.9M	$42.8M	75x	as long as short
BingX UNI-USDT	+0.0100%	8h	8.9740	−0.222%	—	$57.1M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	8.9498	−0.491%	$981K	$2.4M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	8.9621	−0.355%	$4.1M	$4.3M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.9787	−0.170%	$169K	$345K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.9996	+0.063%	$635K	$2.6M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.9780	−0.178%	$88K	$706K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.9590	−0.389%	$55K	$3.3M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.9883	−0.063%	$85K	$409K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.9480	−0.511%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.9553	−0.430%	$36K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.9499	−0.490%	$21K	$715K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.9680	−0.289%	$713K	$4.2M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.9560	−0.423%	$27.0M	$4.5M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.9664	−0.307%	$26K	—	20x	as long as short
Extended UNI-USD	+0.0104%	1h	8.9702	−0.265%	$299K	$1.5M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.9450	−0.545%	$32K	—	3x	as long as short
BloFin UNI-USDTlong	+0.0220%	8h	8.9940	long leg	$10.3M	$3.6M	75x
Coinbase International UNI-PERP-INTX	+0.0312%	1h	8.9580	−0.400%	$1.1M	$4.6M	50x	as long as short
Reya UNIRUSDPERP	+0.0368%	1h	8.9873	−0.074%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0382% / S −0.0245%	1h	8.9509	−0.480%	$638K	—	120x	as long as short
Lighter UNI	+0.0416%	1h	8.9713	−0.252%	$4.6M	$5.3M	15x	as long as short
Kraken Futures PF_UNIUSD	+0.0428%	1h	8.9565	−0.417%	$5.0M	$6.9M	50x	as long as short
Aftermath Perps UNIUSD	+0.1020%	1h	8.9937	−0.003%	$891	$49K	10x	as long as short