Funding arb · Price arb /

UNI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0447%/8h= −49.0% APRpaid last 24h −0.043%

Price spread now: Aster against Hyperliquid−0.225%7-day average −0.029% · you buy dearer than you sell

Net, funding: paid 7d − costs−$51as in the Funding arb table

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$350.347% of the position

Long on Hyperliquid Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.163%−$16 on $10k

Price spread, last 7 days+0.264%+$26 · spread now −0.225%, 7d avg −0.029%

Together, before fees+0.101%+ Points / potential airdropHyperliquid: Season 2 · Aster: Stage 5 · farm board+$10 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and Aster is 0.196% cheaper against Hyperliquid than usual: you would sell low and buy high (−$20 if the spread goes back to its 7-day average of −0.029%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.163% in total (about -8.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid UNI	9.1983	0.0547	pay 0.0068% / 1h	18m 13s	$101.3M	$59.9M	10x
Short	Aster UNIUSDT	9.1776	0.0100	get 0.0100% / 8h	7h 18m	$1.1M	$2.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Hyperliquid. 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 HyperliquidbpFee AsterbpOrdersPrice spread, now −0.225%Rate

Funding earned: −$93.92
Price spread: −0.225% → −0.029%: −$19.56
Slippage, 4 orders: −$17.68
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Aster: 4 bp × 2 orders: −$8
Net: −$148.16
Costs to cover: 0.347%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 6 min ago; Aster: live order book, 5 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 Hyperliquid live order book, 6 min ago	1.40 bp	7.8 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell Aster live order book, 5 min ago	0.54 bp	10.5 bp −$11	20.9 bp −$209	doesn't fit	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	9.1873	−0.119%	$39K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−4.004%	$660	$154K	12x	as long as short
01 Exchange UNIUSD	+0.0072%	1h	9.1742	−0.262%	$458	—	10x	as long as short
Nado UNI-PERP	+0.0100%	1h	9.1720	−0.286%	$981K	$4.3M	10x	as long as short
Aster UNIUSDTshort	+0.0100%	8h	9.1776	−0.225%	$1.1M	$2.9M	50x
Pacifica UNI	+0.0100%	1h	9.1616	−0.399%	$305K	$589K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	9.1917	−0.072%	$233.5M	$603.2M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	9.1880	−0.112%	$103.4M	$108.0M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	9.1840	−0.155%	$56.6M	$257.8M	50x	as long as short
Arcus UNI-USD	+0.0100%	1h	9.1770	−0.232%	$283K	$626K	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	9.1860	−0.134%	$23.5M	$60.2M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	9.1910	−0.079%	$46.0M	$24.4M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	9.1890	−0.101%	$13.7M	$13.6M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	9.1880	−0.112%	$34.0M	$43.2M	75x	as long as short
BingX UNI-USDT	+0.0100%	8h	9.1870	−0.123%	—	$56.8M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	9.1916	−0.073%	$1.0M	$2.4M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	9.2000	+0.018%	$4.2M	$4.4M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	9.2156	+0.188%	$174K	$345K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	9.2149	+0.181%	$643K	$2.6M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	9.2110	+0.138%	$90K	$707K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	9.2090	+0.116%	$57K	$3.3M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	9.1764	−0.238%	$85K	$385K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	9.1940	−0.047%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	9.2003	+0.022%	$37K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	9.1910	−0.079%	$22K	$711K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	9.2020	+0.040%	$727K	$4.4M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	9.1910	−0.079%	$27.7M	$4.5M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	9.1562	−0.458%	$26K	—	20x	as long as short
Extended UNI-USD	+0.0104%	1h	9.1864	−0.130%	$309K	$1.6M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	9.1924	−0.064%	$33K	—	3x	as long as short
dYdX UNI-USD	+0.0153%	1h	9.1585	−0.432%	$241K	$20K	10x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0162%	1h	9.1947	−0.039%	$594K	$185K	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	9.1690	−0.319%	$10.4M	$3.6M	75x	as long as short
Coinbase International UNI-PERP-INTX	+0.0272%	1h	9.1780	−0.221%	$1.1M	$4.9M	50x	as long as short
Reya UNIRUSDPERP	+0.0366%	1h	9.1733	−0.272%	$17K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0323%	1h	9.1847	−0.148%	$580K	—	120x	as long as short
Kraken Futures PF_UNIUSD	+0.0382%	1h	9.1974	−0.010%	$5.1M	$7.1M	50x	as long as short
Hyperliquid UNIlong	+0.0547%	1h	9.1983	long leg	$101.3M	$59.9M	10x
Lighter UNI	+0.0952%	1h	9.2098	+0.125%	$4.7M	$5.3M	15x	as long as short
Aftermath Perps UNIUSD	+0.1003%	1h	9.2214	+0.252%	$978	$49K	10x	as long as short