Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0109%/8h= +11.9% APRpaid last 24h +0.019%

Price spread now: Deribit against Bybit+0.036%7-day average +0.107% · you sell dearer than you buy

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$53as in the Price arb table

costs, in and out, $10k−$460.458% of the position

Long on Bybit Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.001%$0 on $10k

Price spread, last 4 days (all we have)+0.873%+$87 · spread now +0.036%, 7d avg +0.107%

Together, before fees+0.874%+$87 on $10k · with fees, hour by hour

Funding pays, the price is against you. Deribit is 0.071% cheaper against Bybit than usual: you would sell low and buy high (spread +0.036% now, against its 7-day average of +0.107%). If the spread goes back, that is −$7 on $10k: about 2.2 days of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.001% in total) that is about 11 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit UNIUSDT	8.9390	0.0100	pay 0.0100% / 8h	7h 00m	$99.1M	$106.3M	75x
Short	Deribit UNI_USDC-PERPETUAL	8.9422	0.0209	get 0.0026% / 1h	0m 01s	$592K	$247K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Bybit. 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 BybitbpFee DeribitbpOrdersPrice spread, now +0.036%Rate

Funding earned: $22.89
Price spread: +0.036% → +0.107%: −$7.06
Slippage, 4 orders: −$27.77
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$29.94
Costs to cover: 0.458%
Break-even: 16.2 days

Slippage from Bybit: live order book, 4 min ago; Deribit: live order book, 34 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 Bybit live order book, 4 min ago	0.56 bp	9.2 bp −$9	17.9 bp −$179	40.0 bp −$4,002	doesn't fit
Sell Deribit live order book, 34 min ago	7.47 bp	12.2 bp −$12	20.3 bp −$203	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
Kraken Futures PF_UNIUSD	−0.0062%	1h	8.9425	+0.039%	$4.7M	$8.4M	50x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0005%	1h	8.9365	−0.028%	$77K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−1.219%	$660	$153K	12x	as long as short
01 Exchange UNIUSD	+0.0080%	1h	8.9390	0.000%	$472	$31	10x	as long as short
Lighter UNI	+0.0096%	1h	8.9517	+0.142%	$4.4M	$5.6M	15x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.9276	−0.127%	$25K	—	20x	as long as short
Nado UNI-PERP	+0.0100%	1h	8.9290	−0.112%	$716K	$4.4M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.9441	+0.058%	$738K	$3.0M	50x	as long as short
Pacifica UNI	+0.0100%	1h	8.9343	−0.053%	$289K	$542K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	8.9399	+0.010%	$216.1M	$631.8M	75x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit UNIUSDTlong	+0.0100%	8h	8.9390	long leg	$99.1M	$106.3M	75x
OKX UNI-USDT-SWAP	+0.0100%	8h	8.9370	−0.022%	$54.4M	$255.1M	50x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.9430	+0.045%	$322K	$688K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.9410	+0.022%	$27.0M	$63.8M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.9420	+0.034%	$46.9M	$25.9M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.9380	−0.011%	$13.2M	$12.5M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.9410	+0.022%	$33.2M	$45.6M	75x	as long as short
BingX UNI-USDT	+0.0100%	8h	8.9390	0.000%	—	$57.8M	—	as long as short
Variational Omni UNI	+0.0100%	8h	8.9368	−0.024%	$4.2M	$3.9M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.9813	+0.474%	$170K	$347K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.9679	+0.323%	$626K	$2.5M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.9850	+0.515%	$91K	$706K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.9490	+0.112%	$33K	$3.5M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.9387	−0.003%	$103K	$609K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.9390	0.000%	$16K	$2.5M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.9417	+0.030%	$36K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.9379	−0.012%	$32K	$852K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.9525	+0.151%	$707K	$4.4M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.9430	+0.045%	$27.0M	$4.4M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	8.9327	−0.070%	$300K	$1.8M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.9371	−0.021%	$32K	—	3x	as long as short
Backpack UNI_USDC_PERP	+0.0170%	1h	8.9468	+0.087%	$1.1M	$2.5M	10x	as long as short
Hyperliquid UNI	+0.0176%	1h	8.9510	+0.134%	$95.6M	$67.5M	10x	as long as short
Coinbase International UNI-PERP-INTX	+0.0208%	1h	8.9450	+0.067%	$925K	$5.1M	50x	as long as short
Deribit UNI_USDC-PERPETUALshort	+0.0209%	1h	8.9422	+0.036%	$592K	$247K	50x
BloFin UNI-USDT	+0.0220%	8h	8.9500	+0.123%	$10.2M	$3.6M	75x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0244%	1h	8.9461	+0.079%	$636K	—	120x	as long as short
Reya UNIRUSDPERP	+0.0384%	1h	8.9403	+0.014%	$16K	—	20x	as long as short
dYdX UNI-USD	+0.0393%	1h	8.9313	−0.086%	$234K	$32K	10x	as long as short
Aftermath Perps UNIUSD	+0.0543%	1h	8.9652	+0.294%	$1K	$51K	10x	as long as short