Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0035%/8h= +3.8% APRpaid last 24h +0.207%

Price spread now: Injective against Bybit−0.597%7-day average — · you buy dearer than you sell

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

Long on Bybit Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.448%−$45 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Injective is 0.597% cheaper against Bybit than usual: you would sell low and buy high (spread −0.597% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$60 on $10k: about 57 days of funding at the current rate (+$1 a day). Mind the row above: over the last 7 days funding on this pair cost −0.448%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit UNIUSDT	8.8830	−0.0002	get 0.0002% / 8h	1h 20m	$101.2M	$104.6M	75x
Short	Injective UNI/USDC PERP	8.8300	0.0033	get 0.0004% / 1h	20m 43s	$660	$155K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −0.597%Rate

Funding earned: $7.33
Price spread: −0.597% → 0.000%: −$59.66
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$63.35
Costs to cover: 0.110%
Break-even: 67.5 days

Slippage unknown: Bybit: live order book, 3 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 Bybit live order book, 3 min ago	0.56 bp	8.3 bp −$8	14.7 bp −$147	34.0 bp −$3,403	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
Variational Omni UNI	−0.0057%	8h	8.8474	−0.401%	$3.9M	$4.5M	—	as long as short
Bybit UNIUSDTlong	−0.0002%	8h	8.8830	long leg	$101.2M	$104.6M	75x
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0004%	1h	8.8899	+0.078%	$62K	—	150x	as long as short
Injective UNI/USDC PERPshort	+0.0033%	1h	8.8300	−0.597%	$660	$155K	12x
OKX UNI-USDT-SWAP	+0.0046%	8h	8.8830	0.000%	$55.0M	$245.1M	50x	as long as short
01 Exchange UNIUSD	+0.0056%	1h	8.8960	+0.146%	$444	—	10x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0071%	1h	8.8933	+0.116%	$565K	$157K	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.8847	+0.019%	$25K	—	20x	as long as short
Nado UNI-PERP	+0.0100%	1h	8.8832	+0.003%	$941K	$4.0M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.8903	+0.083%	$1.0M	$3.3M	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	8.8922	+0.104%	$298K	$570K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	8.8846	+0.018%	$218.0M	$588.5M	75x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.8980	+0.169%	$283K	$615K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.8880	+0.056%	$23.1M	$58.6M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.8870	+0.045%	$42.9M	$24.5M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.8860	+0.034%	$13.6M	$13.7M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.8840	+0.011%	$32.2M	$41.4M	75x	as long as short
BingX UNI-USDT	+0.0100%	8h	8.8840	+0.011%	—	$51.7M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	8.8902	+0.081%	$987K	$2.3M	10x	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.8599	−0.260%	$167K	$343K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.8775	−0.062%	$626K	$2.5M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.8740	−0.101%	$88K	$712K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.8880	+0.056%	$106K	$3.2M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.8871	+0.046%	$86K	$354K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.8860	+0.034%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.8921	+0.102%	$36K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.8890	+0.068%	$25K	$666K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.8930	+0.113%	$729K	$4.3M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.8870	+0.045%	$26.7M	$4.4M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	8.8818	−0.014%	$301K	$1.4M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.8895	+0.073%	$32K	$1K	3x	as long as short
dYdX UNI-USD	+0.0135%	1h	8.8884	+0.061%	$246K	$6K	10x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.8900	+0.079%	$9.9M	$3.4M	75x	as long as short
Coinbase International UNI-PERP-INTX	+0.0224%	1h	8.8970	+0.158%	$1.1M	$5.3M	50x	as long as short
Kraken Futures PF_UNIUSD	+0.0340%	1h	8.8945	+0.130%	$5.0M	$7.0M	50x	as long as short
Hyperliquid UNI	+0.0344%	1h	8.9031	+0.226%	$97.7M	$59.1M	10x	as long as short
Reya UNIRUSDPERP	+0.0362%	1h	8.8798	−0.036%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0379% / S −0.0319%	1h	8.8893	+0.071%	$557K	—	120x	as long as short
Lighter UNI	+0.0592%	1h	8.9059	+0.258%	$4.6M	$5.2M	15x	as long as short
Aftermath Perps UNIUSD	+0.0625%	1h	8.8682	−0.166%	$1K	$49K	10x	as long as short