Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0144%/8h= +15.8% APRpaid last 24h +0.116%

Price spread now: GMX against Bybit+0.143%7-day average +0.090% · you sell dearer than you buy

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

Long on Bybit Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.137%+$14 on $10k

Price spread, last 4 days (all we have)+0.063%+$6 · spread now +0.143%, 7d avg +0.090%

Together, before fees+0.201%+$20 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and GMX is 0.053% dearer against Bybit than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.090%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit UNIUSDT	8.9460	0.0100	pay 0.0100% / 8h	3h 26m	$100.4M	$111.9M	75x
Short	GMX UNI/USD [UNI-USDC]	8.9588	L +0.0381% / S −0.0244%	get 0.0030% / 1h	26m 05s	$638K	—	120x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now +0.143%Rate

Funding earned: $30.22
Price spread: +0.143% → +0.090%: $5.35
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee GMX: 6 bp × 2 orders: −$12
Net: $12.56
Costs to cover: 0.230%
Break-even: 4.1 days

Slippage unknown: Bybit: live order book, 3 min ago; GMX: 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 Bybit live order book, 3 min ago	0.56 bp	8.5 bp −$9	16.4 bp −$164	39.7 bp −$3,973	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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	8.9595	+0.151%	$37K	—	150x	as long as short
01 Exchange UNIUSD	+0.0008%	1h	8.9581	+0.135%	$447	$5	10x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−1.297%	$660	$154K	12x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0083%	1h	8.9606	+0.163%	$574K	$208K	50x	as long as short
Lighter UNI	+0.0096%	1h	8.9606	+0.163%	$4.5M	$5.9M	15x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.9573	+0.126%	$26K	—	20x	as long as short
Nado UNI-PERP	+0.0100%	1h	8.9570	+0.123%	$973K	$4.5M	10x	as long as short
Hyperliquid UNI	+0.0100%	1h	8.9619	+0.178%	$95.4M	$64.1M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.9547	+0.097%	$785K	$3.6M	50x	as long as short
Pacifica UNI	+0.0100%	1h	8.9606	+0.163%	$291K	$608K	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance UNIUSDT	+0.0100%	8h	8.9485	+0.028%	$220.9M	$647.4M	75x	as long as short
Bybit UNIUSDTlong	+0.0100%	8h	8.9460	long leg	$100.4M	$111.9M	75x
OKX UNI-USDT-SWAP	+0.0100%	8h	8.9490	+0.034%	$54.7M	$261.0M	50x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.9680	+0.246%	$313K	$656K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.9520	+0.067%	$23.9M	$64.0M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.9540	+0.089%	$47.9M	$26.0M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.9560	+0.112%	$13.2M	$13.3M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.9480	+0.022%	$33.2M	$45.4M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	8.9490	+0.034%	—	$6.5M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	8.9560	+0.112%	$1.0M	$2.3M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	8.9889	+0.480%	$4.2M	$4.1M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.9795	+0.374%	$169K	$343K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.9680	+0.246%	$623K	$2.8M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.9820	+0.402%	$92K	$703K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.9660	+0.224%	$15K	$3.4M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.9566	+0.118%	$86K	$437K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.9580	+0.134%	$16K	$1.4M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.9626	+0.186%	$37K	$1.4M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.9519	+0.066%	$29K	$817K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.9652	+0.215%	$701K	$4.9M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.9530	+0.078%	$27.1M	$4.4M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	8.9502	+0.046%	$285K	$1.6M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.9557	+0.108%	$32K	—	3x	as long as short
Coinbase International UNI-PERP-INTX	+0.0216%	1h	8.9550	+0.101%	$933K	$5.8M	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.9620	+0.179%	$10.2M	$3.5M	75x	as long as short
Kraken Futures PF_UNIUSD	+0.0272%	1h	8.9562	+0.114%	$4.9M	$8.1M	50x	as long as short
dYdX UNI-USD	+0.0277%	1h	8.9594	+0.150%	$236K	$30K	10x	as long as short
Reya UNIRUSDPERP	+0.0374%	1h	8.9530	+0.079%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]short	L +0.0381% / S −0.0244%	1h	8.9588	+0.143%	$638K	—	120x
Aftermath Perps UNIUSD	+0.0792%	1h	8.9766	+0.342%	$949	$45K	10x	as long as short