Funding you earn now, next payment 23:00 UTC−0.0198%/8h= −21.7% APRpaid last 24h −0.039%
Price spread now: Phemex against Hyperliquid−0.170%7-day average −0.071% · you buy dearer than you sell
Net, funding: paid 7d − costs−$71as in the Funding arb table
Net, price: spread back to 7d avg − costs−$61as in the Price arb table
costs, in and out, $10k−$510.514% of the position
Funding, last 7 days−0.197%−$20 on $10k
+Price spread, last 3 days (all we have)+0.224%+$22 · spread now −0.170%, 7d avg −0.071%
=Together, before fees+0.027%+ Points / potential airdropHyperliquid: Season 2 · farm board+$3 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Phemex is 0.099% cheaper against Hyperliquid than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.071%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid UNI | 8.8410 | 0.0298 | pay 0.0037% / 1h | 31m 38s | $96.7M | $59.1M | 10x |
| Short | Phemex UNIUSDT | 8.8260 | 0.0100 | get 0.0100% / 8h | 1h 31m | $26.5M | $4.5M | 50x |
Hyperliquid UNI
Phemex UNIUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Hyperliquid. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$41.52
- Price spread: −0.170% → −0.071%
- −$9.86
- Slippage, 4 orders
- −$30.4
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$102.79
- Costs to cover
- 0.514%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 12 min ago; Phemex: 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 Hyperliquid live order book, 12 min ago | 0.40 bp | 7.2 bp −$7 | doesn't fit | doesn't fit | doesn't fit |
| Sell Phemex live order book, 2 min ago | 6.22 bp | 20.3 bp −$20 | 30.3 bp −$303 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni UNI | −0.0076% | 8h | 8.8115 | −0.334% | $3.9M | $4.5M | — | as long as short |
| Bybit UNIUSDT | −0.0013% | 8h | 8.8270 | −0.158% | $100.7M | $104.3M | 75x | as long as short |
| gTrade (Gains Network) UNI/USD | L +0.0004% / S −0.0004% | 1h | 8.8276 | −0.152% | $61K | — | 150x | as long as short |
| Injective UNI/USDC PERP | +0.0033% | 1h | 8.8300 | −0.124% | $660 | $155K | 12x | as long as short |
| OKX UNI-USDT-SWAP | +0.0040% | 8h | 8.8260 | −0.170% | $54.7M | $243.3M | 50x | as long as short |
| 01 Exchange UNIUSD | +0.0048% | 1h | 8.8332 | −0.088% | $441 | — | 10x | as long as short |
| Deribit UNI_USDC-PERPETUAL | +0.0072% | 1h | 8.8310 | −0.113% | $561K | $157K | 50x | as long as short |
| Paradex UNI-USD-PERP | +0.0100% | 8h | 8.8269 | −0.160% | $25K | — | 20x | as long as short |
| Nado UNI-PERP | +0.0100% | 1h | 8.8250 | −0.181% | $934K | $4.0M | 10x | as long as short |
| Aster UNIUSDT | +0.0100% | 8h | 8.8360 | −0.057% | $1.0M | $3.4M | 50x | as long as short |
Variational Omni UNI
Bybit UNIUSDT
gTrade (Gains Network) UNI/USD
Injective UNI/USDC PERP
OKX UNI-USDT-SWAP
01 Exchange UNIUSD
Deribit UNI_USDC-PERPETUAL
Paradex UNI-USD-PERP
Nado UNI-PERP
Aster UNIUSDTShow all 40 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Pacifica UNI | +0.0100% | 1h | 8.8308 | −0.115% | $296K | $570K | 10x | as long as short |
| Binance UNIUSDT | +0.0100% | 8h | 8.8290 | −0.136% | $216.7M | $588.0M | 75x | as long as short |
| Arcus UNI-USD | +0.0100% | 1h | 8.8360 | −0.057% | $281K | $615K | 10x | as long as short |
| Gate UNI_USDT | +0.0100% | 8h | 8.8280 | −0.147% | $22.9M | $58.5M | 75x | as long as short |
| MEXC UNI_USDT | +0.0100% | 8h | 8.8290 | −0.136% | $42.7M | $24.5M | 200x | as long as short |
| KuCoin UNIUSDTM | +0.0100% | 8h | 8.8290 | −0.136% | $13.5M | $13.8M | 75x | as long as short |
| Bitget UNIUSDT | +0.0100% | 8h | 8.8280 | −0.147% | $32.0M | $41.3M | 75x | as long as short |
| BingX UNI-USDC | +0.0100% | 8h | 8.8270 | −0.158% | — | $6.5M | — | as long as short |
| Backpack UNI_USDC_PERP | +0.0100% | 1h | 8.8287 | −0.139% | $980K | $2.3M | 10x | as long as short |
| edgeX UNIUSDC | +0.0100% | 4h | 8.8185 | −0.255% | $166K | $343K | 20x | as long as short |
| GRVT UNI_USDT_Perp | +0.0100% | 8h | 8.8300 | −0.124% | $612K | $2.5M | 10x | as long as short |
| ApeX Omni UNIUSDT | +0.0100% | 1h | 8.8280 | −0.147% | $87K | $714K | 50x | as long as short |
| StandX UNI-USD | +0.0100% | 1h | 8.8350 | −0.068% | $105K | $3.2M | 20x | as long as short |
| Polymarket Perps UNI-USD | +0.0100% | 1h | 8.8230 | −0.204% | $86K | $351K | 10x | as long as short |
| Orderly PERP_UNI_USDC | +0.0100% | 8h | 8.8240 | −0.192% | $16K | $1.7M | 10x | as long as short |
| SunX UNI-USDT | +0.0100% | 8h | 8.8277 | −0.150% | $36K | $1.3M | 30x | as long as short |
| SoDEX UNI-USD | +0.0100% | 1h | 8.8251 | −0.180% | $25K | $666K | 10x | as long as short |
| HTX UNI-USDT | +0.0100% | 8h | 8.8357 | −0.060% | $726K | $4.3M | 75x | as long as short |
| Phemex UNIUSDTshort | +0.0100% | 8h | 8.8260 | −0.170% | $26.5M | $4.5M | 50x | |
| Extended UNI-USD | +0.0104% | 1h | 8.8240 | −0.193% | $300K | $1.4M | 25x | as long as short |
| Aevo UNI-PERP | +0.0104% | 1h | 8.8522 | +0.127% | $31K | $1K | 3x | as long as short |
| dYdX UNI-USD | +0.0112% | 1h | 8.8339 | −0.080% | $245K | $6K | 10x | as long as short |
| BloFin UNI-USDT | +0.0220% | 8h | 8.8330 | −0.090% | $9.8M | $3.3M | 75x | as long as short |
| Coinbase International UNI-PERP-INTX | +0.0224% | 1h | 8.8290 | −0.136% | $1.0M | $5.3M | 50x | as long as short |
| Hyperliquid UNIlong | +0.0298% | 1h | 8.8410 | long leg | $96.7M | $59.1M | 10x | |
| Kraken Futures PF_UNIUSD | +0.0343% | 1h | 8.8340 | −0.079% | $4.9M | $7.0M | 50x | as long as short |
| Reya UNIRUSDPERP | +0.0362% | 1h | 8.8204 | −0.233% | $16K | — | 20x | as long as short |
| GMX UNI/USD [UNI-USDC] | L +0.0379% / S −0.0319% | 1h | 8.8271 | −0.157% | $553K | — | 120x | as long as short |
| Lighter UNI | +0.0608% | 1h | 8.8479 | +0.078% | $4.5M | $5.2M | 15x | as long as short |
| Aftermath Perps UNIUSD | +0.0632% | 1h | 8.8317 | −0.105% | $1K | $49K | 10x | as long as short |
Pacifica UNI
Binance UNIUSDT
Arcus UNI-USD
Gate UNI_USDT
MEXC UNI_USDT
KuCoin UNIUSDTM
Bitget UNIUSDT
BingX UNI-USDC
Backpack UNI_USDC_PERP
edgeX UNIUSDC
GRVT UNI_USDT_Perp
ApeX Omni UNIUSDT
StandX UNI-USD
Polymarket Perps UNI-USD
Orderly PERP_UNI_USDC
SunX UNI-USDT
SoDEX UNI-USD
HTX UNI-USDT
Extended UNI-USD
Aevo UNI-PERP
dYdX UNI-USD
BloFin UNI-USDT
Coinbase International UNI-PERP-INTX
Kraken Futures PF_UNIUSD
Reya UNIRUSDPERP
GMX UNI/USD [UNI-USDC]
Lighter UNI
Aftermath Perps UNIUSD