Funding arb · Price arb /

UNI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0149%/8h= +16.4% APRpaid last 24h −0.172%

Price spread now: Orderly against Injective+1.642%58s7-day average −0.266% · you sell dearer than you buy

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

Long on Injective Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days+0.537%+$54 on $10k

Price spread, last 3 days (all we have)−1.588%−$159 · spread now +1.642%, 7d avg −0.266%

Together, before fees−1.050%−$105 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Orderly is 1.908% dearer against Injective than usual: you sell high and buy low: +$191 more if the spread goes back to its 7-day average of −0.266%. The two prices were read 58 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	Injective UNI/USDC PERP	8.8300	−0.0049	get 0.0006% / 1h	26m 16s	$660	$155K	12x
Short	Orderly PERP_UNI_USDC	8.9750	0.0100	get 0.0100% / 8h	26m 16s	$16K	$1.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Injective. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 InjectivebpFee OrderlybpOrdersPrice spread, now +1.642%Rate

Funding earned: $31.39
Price spread: +1.642% → −0.266%: $190.83
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Orderly: 3 bp × 2 orders: −$6
Net: $216.2
Costs to cover: 0.060%
Break-even: from the start

Slippage unknown: Injective: 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 Injective no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

Injective 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
Injective UNI/USDC PERPlong	−0.0049%	1h	8.8300	long leg	$660	$155K	12x
Deribit UNI_USDC-PERPETUAL	0.0000%	1h	8.9783	+1.679%	$578K	$176K	50x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0004%	1h	8.9815	+1.715%	$62K	—	150x	as long as short
Variational Omni UNI	+0.0051%	8h	8.9935	+1.851%	$4.1M	$4.4M	—	as long as short
Bybit UNIUSDT	+0.0087%	8h	8.9770	+1.665%	$101.9M	$104.9M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0090%	8h	8.9710	+1.597%	$55.0M	$248.7M	50x	as long as short
Nado UNI-PERP	+0.0100%	1h	8.9865	+1.772%	$954K	$4.2M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.9929	+1.844%	$1.0M	$3.3M	50x	as long as short
Pacifica UNI	+0.0100%	1h	9.0011	+1.938%	$298K	$593K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	8.9804	+1.704%	$222.2M	$589.9M	75x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus UNI-USD	+0.0100%	1h	9.0050	+1.982%	$265K	$632K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.9820	+1.721%	$23.0M	$58.8M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.9850	+1.755%	$43.7M	$24.0M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.9840	+1.744%	$13.6M	$13.5M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.9720	+1.608%	$32.8M	$42.0M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	8.9800	+1.699%	—	$6.5M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	9.0120	+2.061%	$1.0M	$2.4M	10x	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.9917	+1.832%	$169K	$342K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.9950	+1.869%	$631K	$2.5M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.9950	+1.869%	$88K	$713K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.9890	+1.801%	$36K	$3.3M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.9847	+1.752%	$85K	$363K	10x	as long as short
Orderly PERP_UNI_USDCshort	+0.0100%	8h	8.9750	+1.642%	$16K	$1.7M	10x
SunX UNI-USDT	+0.0100%	8h	8.9881	+1.790%	$36K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.9754	+1.647%	$21K	$676K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.9935	+1.852%	$717K	$4.3M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.9760	+1.653%	$27.1M	$4.5M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.9934	+1.850%	$26K	—	20x	as long as short
Extended UNI-USD	+0.0104%	1h	8.9714	+1.601%	$303K	$1.5M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.9770	+1.665%	$32K	$1K	3x	as long as short
dYdX UNI-USD	+0.0130%	1h	8.9989	+1.913%	$249K	$6K	10x	as long as short
01 Exchange UNIUSD	+0.0176%	1h	8.9923	+1.838%	$449	—	10x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.9980	+1.903%	$10.1M	$3.5M	75x	as long as short
Coinbase International UNI-PERP-INTX	+0.0232%	1h	8.9820	+1.721%	$1.1M	$5.4M	50x	as long as short
Reya UNIRUSDPERP	+0.0364%	1h	8.9811	+1.711%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0382% / S −0.0323%	1h	8.9802	+1.701%	$568K	—	120x	as long as short
Hyperliquid UNI	+0.0536%	1h	8.9940	+1.857%	$98.6M	$59.1M	10x	as long as short
Kraken Futures PF_UNIUSD	+0.0564%	1h	8.9808	+1.708%	$5.0M	$7.0M	50x	as long as short
Aftermath Perps UNIUSD	+0.0801%	1h	9.0041	+1.972%	$1K	$49K	10x	as long as short
Lighter UNI	+0.0888%	1h	9.0162	+2.109%	$4.6M	$5.2M	15x	as long as short