Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0028%/8h= −3.1% APRpaid last 24h −0.002%

Price spread now: BloFin against Coinbase International−0.175%58s7-day average −0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$14as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$480.479% of the position

Long on Coinbase International Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.344%+$34 on $10k

Price spread, last 4 days (all we have)+0.197%+$20 · spread now −0.175%, 7d avg −0.012%

Together, before fees+0.541%+$54 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and BloFin is 0.163% cheaper against Coinbase International than usual: you would sell low and buy high (−$16 if the spread goes back to its 7-day average of −0.012%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.344%, so the current rate has only just turned against you. The two prices were read 58 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	Coinbase International UNI-PERP-INTX	9.1270	0.0248	pay 0.0031% / 1h	19m 50s	$1.1M	$5.7M	50x
Short	BloFin UNI-USDT	9.1110	0.0220	get 0.0220% / 8h	4h 19m	$10.3M	$3.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Coinbase International. 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 Coinbase InternationalbpFee BloFinbpOrdersPrice spread, now −0.175%Rate

Funding earned: −$5.88
Price spread: −0.175% → −0.012%: −$16.3
Slippage, 4 orders: −$25.88
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$70.06
Costs to cover: 0.479%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 4 min ago; BloFin: live order book, 4 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 Coinbase International live order book, 4 min ago	6.06 bp	12.1 bp −$12	17.4 bp −$174	doesn't fit	doesn't fit
Sell BloFin live order book, 4 min ago	4.97 bp	11.7 bp −$12	17.9 bp −$179	45.7 bp −$4,570	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
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0004%	1h	9.1146	−0.136%	$37K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−3.254%	$660	$154K	12x	as long as short
01 Exchange UNIUSD	+0.0064%	1h	9.1105	−0.181%	$455	$5	10x	as long as short
Nado UNI-PERP	+0.0100%	1h	9.1105	−0.181%	$972K	$4.4M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	9.1220	−0.055%	$833K	$3.5M	50x	as long as short
Pacifica UNI	+0.0100%	1h	9.1066	−0.224%	$295K	$599K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	9.1143	−0.139%	$224.2M	$637.1M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	9.1100	−0.186%	$102.4M	$111.0M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	9.1110	−0.175%	$55.6M	$262.7M	50x	as long as short
Arcus UNI-USD	+0.0100%	1h	9.1270	0.000%	$316K	$651K	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate UNI_USDT	+0.0100%	8h	9.1140	−0.142%	$23.7M	$63.8M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	9.1170	−0.110%	$48.1M	$25.4M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	9.1160	−0.121%	$13.7M	$13.2M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	9.1020	−0.274%	$33.6M	$44.8M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	9.1160	−0.121%	—	$6.5M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	9.1234	−0.039%	$1.0M	$2.3M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	9.0948	−0.353%	$4.3M	$4.1M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	9.0652	−0.677%	$171K	$345K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	9.0770	−0.548%	$643K	$2.8M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	9.0730	−0.592%	$93K	$700K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	9.1040	−0.252%	$15K	$3.4M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	9.1124	−0.160%	$88K	$427K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	9.1190	−0.088%	$16K	$1.5M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	9.1294	+0.026%	$37K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	9.1225	−0.049%	$22K	$791K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	9.1300	+0.033%	$730K	$4.7M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	9.1210	−0.066%	$27.6M	$4.4M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	9.1038	−0.255%	$26K	—	20x	as long as short
Extended UNI-USD	+0.0104%	1h	9.1158	−0.122%	$294K	$1.6M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	9.1215	−0.060%	$32K	—	3x	as long as short
dYdX UNI-USD	+0.0137%	1h	9.1022	−0.272%	$240K	$30K	10x	as long as short
Lighter UNI	+0.0176%	1h	9.1356	+0.094%	$4.6M	$5.8M	15x	as long as short
BloFin UNI-USDTshort	+0.0220%	8h	9.1110	−0.175%	$10.3M	$3.6M	75x
Coinbase International UNI-PERP-INTXlong	+0.0248%	1h	9.1270	long leg	$1.1M	$5.7M	50x
Kraken Futures PF_UNIUSD	+0.0268%	1h	9.1292	+0.024%	$5.1M	$7.9M	50x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0331%	1h	9.1248	−0.024%	$585K	$193K	50x	as long as short
Hyperliquid UNI	+0.0346%	1h	9.1157	−0.124%	$98.8M	$62.4M	10x	as long as short
Reya UNIRUSDPERP	+0.0373%	1h	9.1086	−0.202%	$17K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0244%	1h	9.1146	−0.136%	$649K	—	120x	as long as short
Aftermath Perps UNIUSD	+0.0965%	1h	9.0816	−0.497%	$900	$46K	10x	as long as short