Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0116%/8h= −12.7% APRpaid last 24h −0.062%

Price spread now: Bybit against Coinbase International−0.077%7-day average −0.086% · you buy dearer than you sell

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$410.407% of the position

Long on Coinbase International Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.063%+$6 on $10k

Price spread, last 4 days (all we have)−0.272%−$27 · spread now −0.077%, 7d avg −0.086%

Together, before fees−0.210%−$21 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.086%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.063%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International UNI-PERP-INTX	9.0490	0.0216	pay 0.0027% / 1h	53m 10s	$947K	$5.8M	50x
Short	Bybit UNIUSDT	9.0420	0.0100	get 0.0100% / 8h	3h 53m	$101.7M	$111.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.077%Rate

Funding earned: −$24.36
Price spread: −0.077% → −0.086%: $0.88
Slippage, 4 orders: −$19.72
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$64.2
Costs to cover: 0.407%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 6 min ago; Bybit: live order book, 1 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, 6 min ago	3.31 bp	12.6 bp −$13	18.6 bp −$186	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	0.55 bp	9.5 bp −$9	17.2 bp −$172	39.2 bp −$3,919	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	9.0476	−0.015%	$37K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−2.420%	$660	$154K	12x	as long as short
01 Exchange UNIUSD	+0.0072%	1h	9.0461	−0.032%	$451	$5	10x	as long as short
Nado UNI-PERP	+0.0100%	1h	9.0415	−0.083%	$968K	$4.4M	10x	as long as short
Hyperliquid UNI	+0.0100%	1h	9.0590	+0.111%	$98.0M	$62.0M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	9.0500	+0.011%	$814K	$3.5M	50x	as long as short
Pacifica UNI	+0.0100%	1h	9.0479	−0.012%	$292K	$602K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	9.0445	−0.050%	$222.3M	$640.7M	75x	as long as short
Bybit UNIUSDTshort	+0.0100%	8h	9.0420	−0.077%	$101.7M	$111.5M	75x
OKX UNI-USDT-SWAP	+0.0100%	8h	9.0410	−0.088%	$55.0M	$261.5M	50x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus UNI-USD	+0.0100%	1h	9.0540	+0.055%	$316K	$653K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	9.0440	−0.055%	$23.7M	$63.2M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	9.0450	−0.044%	$47.7M	$25.4M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	9.0450	−0.044%	$13.5M	$13.2M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	9.0430	−0.066%	$33.3M	$45.2M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	9.0400	−0.099%	—	$6.5M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	9.0487	−0.003%	$1.0M	$2.3M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	9.0369	−0.134%	$4.2M	$4.1M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	9.0450	−0.044%	$170K	$344K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	9.0442	−0.054%	$640K	$2.8M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	9.0480	−0.011%	$95K	$701K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	9.0490	0.000%	$15K	$3.4M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	9.0502	+0.013%	$86K	$431K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	9.0440	−0.055%	$16K	$1.5M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	9.0506	+0.018%	$37K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	9.0460	−0.033%	$22K	$793K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	9.0558	+0.075%	$724K	$4.7M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	9.0450	−0.044%	$27.4M	$4.4M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	9.0411	−0.087%	$26K	—	20x	as long as short
Extended UNI-USD	+0.0104%	1h	9.0390	−0.111%	$292K	$1.6M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	9.0455	−0.038%	$32K	—	3x	as long as short
Lighter UNI	+0.0112%	1h	9.0595	+0.116%	$4.6M	$5.8M	15x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0202%	1h	9.0502	+0.013%	$580K	$207K	50x	as long as short
Coinbase International UNI-PERP-INTXlong	+0.0216%	1h	9.0490	long leg	$947K	$5.8M	50x
BloFin UNI-USDT	+0.0220%	8h	9.0420	−0.077%	$10.2M	$3.6M	75x	as long as short
Kraken Futures PF_UNIUSD	+0.0269%	1h	9.0517	+0.030%	$5.0M	$8.0M	50x	as long as short
dYdX UNI-USD	+0.0340%	1h	9.0437	−0.058%	$238K	$30K	10x	as long as short
Reya UNIRUSDPERP	+0.0374%	1h	9.0467	−0.025%	$17K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0244%	1h	9.0458	−0.036%	$644K	—	120x	as long as short
Aftermath Perps UNIUSD	+0.0881%	1h	9.0596	+0.117%	$990	$46K	10x	as long as short