Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0154%/8h= −16.9% APRpaid last 24h −0.047%

Price spread now: KuCoin against Hyperliquid−0.125%7-day average −0.091% · you buy dearer than you sell

Net, funding: paid 7d − costs−$81as in the Funding arb table

Net, price: spread back to 7d avg − costs−$61as in the Price arb table

costs, in and out, $10k−$570.575% of the position

Long on Hyperliquid Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.231%−$23 on $10k

Price spread, last 7 days+0.078%+$8 · spread now −0.125%, 7d avg −0.091%

Together, before fees−0.152%+ Points / potential airdropHyperliquid: Season 2 · farm board−$15 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and KuCoin is 0.035% cheaper against Hyperliquid than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.091%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid UNI	9.1735	0.0254	pay 0.0032% / 1h	4m 12s	$99.7M	$58.9M	10x
Short	KuCoin UNIUSDTM	9.1620	0.0100	get 0.0100% / 8h	6h 04m	$13.9M	$12.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.125%Rate

Funding earned: −$32.43
Price spread: −0.125% → −0.091%: −$3.45
Slippage, 4 orders: −$36.48
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$93.36
Costs to cover: 0.575%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 10 min ago; KuCoin: 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 Hyperliquid live order book, 10 min ago	0.38 bp	7.2 bp −$7	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 4 min ago	2.20 bp	18.4 bp −$18	24.3 bp −$243	71.2 bp −$7,123	doesn't fit

UNI on 39 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 −0.0007%	1h	9.1563	−0.188%	$26K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−3.744%	$660	$154K	12x	as long as short
01 Exchange UNIUSD	+0.0072%	1h	9.1646	−0.097%	$457	$5	10x	as long as short
dYdX UNI-USD	+0.0080%	1h	9.1545	−0.208%	$241K	$30K	10x	as long as short
Nado UNI-PERP	+0.0100%	1h	9.1552	−0.199%	$972K	$4.3M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	9.1710	−0.027%	$1.1M	$2.9M	50x	as long as short
Pacifica UNI	+0.0100%	1h	9.1580	−0.169%	$299K	$568K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	9.1570	−0.180%	$229.2M	$608.3M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	9.1480	−0.278%	$102.6M	$107.2M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	9.1450	−0.311%	$56.6M	$254.7M	50x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus UNI-USD	+0.0100%	1h	9.1670	−0.071%	$290K	$640K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	9.1530	−0.223%	$23.5M	$59.4M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	9.1580	−0.169%	$49.7M	$26.4M	200x	as long as short
KuCoin UNIUSDTMshort	+0.0100%	8h	9.1620	−0.125%	$13.9M	$12.9M	75x
Bitget UNIUSDT	+0.0100%	8h	9.1510	−0.245%	$33.6M	$42.5M	75x	as long as short
BingX UNI-USDT	+0.0100%	8h	9.1540	−0.213%	—	$56.9M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	9.1422	−0.341%	$1.0M	$2.3M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	9.1159	−0.628%	$4.2M	$4.3M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	9.1120	−0.670%	$172K	$345K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	9.0830	−0.987%	$639K	$2.6M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	9.1140	−0.649%	$89K	$700K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	9.1340	−0.431%	$56K	$3.3M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	9.1623	−0.122%	$88K	$407K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	9.1490	−0.267%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	9.1716	−0.021%	$37K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	9.1500	−0.256%	$22K	$727K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	9.1678	−0.062%	$728K	$4.2M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	9.1500	−0.256%	$27.6M	$4.5M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	9.1504	−0.252%	$26K	—	20x	as long as short
Extended UNI-USD	+0.0104%	1h	9.1434	−0.328%	$302K	$1.5M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	9.1495	−0.262%	$32K	—	3x	as long as short
Hyperliquid UNIlong	+0.0254%	1h	9.1735	long leg	$99.7M	$58.9M	10x
Deribit UNI_USDC-PERPETUAL	+0.0271%	1h	9.1534	−0.219%	$594K	$188K	50x	as long as short
Coinbase International UNI-PERP-INTX	+0.0312%	1h	9.1590	−0.158%	$1.1M	$4.7M	50x	as long as short
Reya UNIRUSDPERP	+0.0369%	1h	9.1524	−0.230%	$17K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0244%	1h	9.1562	−0.188%	$652K	—	120x	as long as short
Kraken Futures PF_UNIUSD	+0.0419%	1h	9.1527	−0.227%	$5.1M	$6.9M	50x	as long as short
Lighter UNI	+0.0512%	1h	9.1694	−0.045%	$4.7M	$5.3M	15x	as long as short
Aftermath Perps UNIUSD	+0.0931%	1h	9.1251	−0.527%	$1K	$48K	10x	as long as short