Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0169%/8h= −18.5% APRpaid last 24h −0.032%

Price spread now: BingX against Kraken Futures+0.004%7-day average −0.086% · you sell dearer than you buy

Net, funding: paid 7d − costs−$80as in the Funding arb table

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$550.554% of the position

Long on Kraken Futures Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.248%−$25 on $10k

Price spread, last 3 days (all we have)−0.232%−$23 · spread now +0.004%, 7d avg −0.086%

Together, before fees−0.480%−$48 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BingX is 0.090% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.004% now, against its 7-day average of −0.086%): +$9 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 43 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_UNIUSD	9.1266	0.0269	pay 0.0034% / 1h	52m 52s	$5.1M	$7.1M	50x
Short	BingX UNI-USDC	9.1270	0.0100	get 0.0100% / 8h	5h 52m	—	$6.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Kraken Futures. 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 Kraken FuturesbpFee BingXbpOrdersPrice spread, now +0.004%Rate

Funding earned: −$35.45
Price spread: +0.004% → −0.086%: $8.97
Slippage, 4 orders: −$35.38
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$81.86
Costs to cover: 0.554%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 1 min ago; BingX: live order book, 13 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 Kraken Futures live order book, 1 min ago	5.49 bp	14.7 bp −$15	15.8 bp −$158	40.8 bp −$4,085	doesn't fit
Sell BingX live order book, 13 min ago	1.64 bp	13.7 bp −$14	31.3 bp −$313	82.5 bp −$8,249	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
ApeX Omni UNIUSDT	−0.0060%	1h	9.1070	−0.215%	$89K	$700K	50x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0004%	1h	9.1238	−0.031%	$19K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−3.250%	$660	$154K	12x	as long as short
Nado UNI-PERP	+0.0100%	1h	9.1035	−0.253%	$951K	$4.3M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	9.1258	−0.009%	$1.0M	$2.9M	50x	as long as short
Pacifica UNI	+0.0100%	1h	9.1108	−0.174%	$298K	$564K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	9.1281	+0.016%	$227.7M	$608.4M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	9.1250	−0.018%	$102.9M	$107.7M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	9.1270	+0.004%	$56.5M	$253.3M	50x	as long as short
Arcus UNI-USD	+0.0100%	1h	9.1220	−0.051%	$289K	$619K	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate UNI_USDT	+0.0100%	8h	9.1260	−0.007%	$23.4M	$58.8M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	9.1270	+0.004%	$49.6M	$24.9M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	9.1240	−0.029%	$13.8M	$12.8M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	9.1240	−0.029%	$33.5M	$42.5M	75x	as long as short
BingX UNI-USDCshort	+0.0100%	8h	9.1270	+0.004%	—	$6.5M	—
Backpack UNI_USDC_PERP	+0.0100%	1h	9.1223	−0.047%	$998K	$2.2M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	9.1840	+0.628%	$4.2M	$4.2M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	9.1395	+0.141%	$172K	$344K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	9.1604	+0.371%	$642K	$2.6M	10x	as long as short
StandX UNI-USD	+0.0100%	1h	9.0940	−0.358%	$56K	$3.3M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	9.1156	−0.121%	$89K	$410K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	9.1250	−0.018%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	9.1198	−0.075%	$37K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	9.1200	−0.073%	$22K	$730K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	9.1257	−0.010%	$720K	$4.3M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	9.1240	−0.029%	$27.6M	$4.5M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	9.1105	−0.177%	$26K	—	20x	as long as short
Extended UNI-USD	+0.0104%	1h	9.1207	−0.065%	$303K	$1.5M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	9.1282	+0.018%	$32K	—	3x	as long as short
01 Exchange UNIUSD	+0.0128%	1h	9.1185	−0.089%	$455	$5	10x	as long as short
dYdX UNI-USD	+0.0228%	1h	9.1084	−0.200%	$240K	$30K	10x	as long as short
Kraken Futures PF_UNIUSDlong	+0.0269%	1h	9.1266	long leg	$5.1M	$7.1M	50x
Coinbase International UNI-PERP-INTX	+0.0296%	1h	9.1330	+0.070%	$1.1M	$4.9M	50x	as long as short
Reya UNIRUSDPERP	+0.0369%	1h	9.1096	−0.186%	$17K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0244%	1h	9.1254	−0.014%	$649K	—	120x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0441%	1h	9.1322	+0.061%	$592K	$188K	50x	as long as short
Hyperliquid UNI	+0.0458%	1h	9.1428	+0.177%	$99.5M	$58.9M	10x	as long as short
Lighter UNI	+0.0648%	1h	9.1456	+0.208%	$4.8M	$5.5M	15x	as long as short
Aftermath Perps UNIUSD	+0.0929%	1h	9.1383	+0.128%	$878	$47K	10x	as long as short