Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0172%/8h= −18.8% APRpaid last 24h −0.029%

Price spread now: MEXC against Coinbase International+0.011%51s7-day average −0.017% · you sell dearer than you buy

Net, funding: paid 7d − costs−$23as 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−$340.338% of the position

Long on Coinbase International Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.113%+$11 on $10k

Price spread, last 3 days (all we have)−0.108%−$11 · spread now +0.011%, 7d avg −0.017%

Together, before fees+0.004%$0 on $10k · with fees, hour by hour

The price spread pays, funding is against you. MEXC is 0.028% dearer against Coinbase International than usual: you sell high and buy low (spread +0.011% now, against its 7-day average of −0.017%): +$3 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 13 hours. Mind the row above: over the last 7 days funding on this pair paid +0.113%, so the current rate has only just turned against you. The two prices were read 51 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	9.2660	0.0272	pay 0.0034% / 1h	27m 24s	$1.1M	$4.9M	50x
Short	MEXC UNI_USDT	9.2670	0.0100	get 0.0100% / 8h	7h 27m	$45.5M	$23.9M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.011%Rate

Funding earned: −$36.12
Price spread: +0.011% → −0.017%: $2.79
Slippage, 4 orders: −$19.79
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$67.13
Costs to cover: 0.338%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 2 min ago; MEXC: live order book, 2 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, 2 min ago	4.87 bp	12.0 bp −$12	16.9 bp −$169	doesn't fit	doesn't fit
Sell MEXC live order book, 2 min ago	0.54 bp	4.1 bp −$4	9.7 bp −$97	28.2 bp −$2,823	154.6 bp −$77.3K

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 −0.0006%	1h	9.2647	−0.014%	$50K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−4.705%	$660	$154K	12x	as long as short
01 Exchange UNIUSD	+0.0080%	1h	9.2818	+0.171%	$463	—	10x	as long as short
Nado UNI-PERP	+0.0100%	1h	9.2705	+0.049%	$1.0M	$4.3M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	9.2892	+0.251%	$1.1M	$2.9M	50x	as long as short
Pacifica UNI	+0.0100%	1h	9.2690	+0.032%	$309K	$586K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	9.2790	+0.140%	$233.0M	$596.6M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	9.2760	+0.108%	$104.7M	$107.3M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	9.2730	+0.076%	$57.0M	$259.5M	50x	as long as short
Arcus UNI-USD	+0.0100%	1h	9.2840	+0.194%	$276K	$616K	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	9.2660	0.000%	$23.5M	$59.3M	75x	as long as short
MEXC UNI_USDTshort	+0.0100%	8h	9.2670	+0.011%	$45.5M	$23.9M	200x
KuCoin UNIUSDTM	+0.0100%	8h	9.2790	+0.140%	$13.9M	$13.5M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	9.2700	+0.043%	$34.0M	$42.2M	75x	as long as short
BingX UNI-USDT	+0.0100%	8h	9.2750	+0.097%	—	$54.7M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	9.2710	+0.054%	$1.1M	$2.4M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	9.2011	−0.701%	$4.2M	$4.4M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	9.2339	−0.346%	$174K	$343K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	9.2169	−0.530%	$649K	$2.6M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	9.2360	−0.324%	$90K	$707K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	9.2470	−0.205%	$37K	$3.3M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	9.2819	+0.172%	$81K	$384K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	9.2570	−0.097%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	9.2619	−0.044%	$37K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	9.2577	−0.090%	$22K	$714K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	9.2729	+0.074%	$731K	$4.4M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	9.2750	+0.097%	$28.0M	$4.5M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	9.2703	+0.046%	$26K	—	20x	as long as short
Extended UNI-USD	+0.0104%	1h	9.2720	+0.065%	$310K	$1.5M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	9.2585	−0.081%	$33K	—	3x	as long as short
dYdX UNI-USD	+0.0113%	1h	9.2665	+0.005%	$244K	$20K	10x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0203%	1h	9.2611	−0.053%	$597K	$178K	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	9.2440	−0.237%	$10.4M	$3.6M	75x	as long as short
Coinbase International UNI-PERP-INTXlong	+0.0272%	1h	9.2660	long leg	$1.1M	$4.9M	50x
Reya UNIRUSDPERP	+0.0366%	1h	9.2660	0.000%	$17K	—	20x	as long as short
Kraken Futures PF_UNIUSD	+0.0379%	1h	9.2651	−0.010%	$5.2M	$7.0M	50x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0382% / S −0.0322%	1h	9.2635	−0.027%	$588K	—	120x	as long as short
Hyperliquid UNI	+0.0553%	1h	9.2928	+0.289%	$102.5M	$60.6M	10x	as long as short
Aftermath Perps UNIUSD	+0.0960%	1h	9.2145	−0.556%	$1K	$49K	10x	as long as short
Lighter UNI	+0.0984%	1h	9.2862	+0.218%	$4.7M	$5.3M	15x	as long as short