Funding arb · Price arb /

UNI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0096%/8h= +10.5% APRpaid last 24h +0.029%

Price spread now: Orderly against gTrade (Gains Network)−0.054%7-day average — · you buy dearer than you sell

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

Long on gTrade (Gains Network)Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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. Orderly is 0.054% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.054% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 45 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) UNI/USD	8.8958	L +0.0004% / S −0.0005%	pay 0.0001% / 1h	11m 44s	$76K	—	150x
Short	Orderly PERP_UNI_USDC	8.8910	0.0100	get 0.0100% / 8h	11m 44s	$16K	$2.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee OrderlybpOrdersPrice spread, now −0.054%Rate

Funding earned: $20.14
Price spread: −0.054% → 0.000%: −$5.4
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$1.26
Costs to cover: 0.160%
Break-even: 7.4 days

Slippage unknown: gTrade (Gains Network): no order-book sample; Orderly: 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

gTrade (Gains Network) and Orderly: 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
Kraken Futures PF_UNIUSD	−0.0305%	1h	8.8984	+0.029%	$4.7M	$8.6M	50x	as long as short
01 Exchange UNIUSD	0.0000%	1h	8.8968	+0.011%	$444	$5	10x	as long as short
gTrade (Gains Network) UNI/USDlong	L +0.0004% / S −0.0005%	1h	8.8958	long leg	$76K	—	150x
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−0.740%	$660	$153K	12x	as long as short
Nado UNI-PERP	+0.0043%	1h	8.8905	−0.060%	$728K	$4.7M	10x	as long as short
Polymarket Perps UNI-USD	+0.0093%	1h	8.8920	−0.043%	$104K	$616K	10x	as long as short
Lighter UNI	+0.0096%	1h	8.9101	+0.161%	$4.5M	$5.6M	15x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.8940	−0.020%	$25K	—	20x	as long as short
Hyperliquid UNI	+0.0100%	1h	8.9064	+0.119%	$94.9M	$67.7M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.9014	+0.063%	$723K	$3.2M	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	8.8980	+0.025%	$288K	$591K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	8.8975	+0.019%	$216.4M	$652.1M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	8.8950	−0.009%	$98.6M	$110.5M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	8.8950	−0.009%	$54.5M	$261.9M	50x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.9020	+0.070%	$318K	$690K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.8940	−0.020%	$26.1M	$66.7M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.8940	−0.020%	$48.1M	$26.3M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.8950	−0.009%	$13.0M	$13.3M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.8950	−0.009%	$32.5M	$45.2M	75x	as long as short
BingX UNI-USDT	+0.0100%	8h	8.8940	−0.020%	—	$57.8M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	8.9008	+0.056%	$1.1M	$2.5M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	8.8681	−0.311%	$4.1M	$4.1M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.8783	−0.197%	$168K	$348K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.8888	−0.079%	$617K	$2.6M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.8820	−0.155%	$89K	$709K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.8860	−0.110%	$14K	$3.5M	20x	as long as short
Orderly PERP_UNI_USDCshort	+0.0100%	8h	8.8910	−0.054%	$16K	$2.2M	10x
SunX UNI-USDT	+0.0100%	8h	8.8968	+0.011%	$36K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.8923	−0.039%	$32K	$886K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.9026	+0.076%	$702K	$4.7M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.8890	−0.076%	$26.8M	$4.4M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	8.8916	−0.047%	$291K	$1.8M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.8935	−0.026%	$32K	—	3x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0104%	1h	8.8993	+0.039%	$590K	$270K	50x	as long as short
Coinbase International UNI-PERP-INTX	+0.0200%	1h	8.9040	+0.092%	$927K	$5.4M	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.8860	−0.110%	$10.0M	$3.6M	75x	as long as short
Aftermath Perps UNIUSD	+0.0378%	1h	8.8803	−0.174%	$1K	$52K	10x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0243%	1h	8.8945	−0.015%	$633K	—	120x	as long as short
Reya UNIRUSDPERP	+0.0381%	1h	8.8902	−0.063%	$16K	—	20x	as long as short
dYdX UNI-USD	+0.0569%	1h	8.8948	−0.012%	$234K	$30K	10x	as long as short