Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0289%/8h= −31.6% APRpaid last 24h −0.026%

Price spread now: SunX against Kraken Futures+0.008%7-day average +0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs−$82as in the Funding arb table

Net, price: spread back to 7d avg − costs−$69as in the Price arb table

costs, in and out, $10k−$690.694% of the position

Long on Kraken Futures Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.124%−$12 on $10k

Price spread, last 3 days (all we have)−0.020%−$2 · spread now +0.008%, 7d avg +0.002%

Together, before fees−0.143%−$14 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.002%, so right now this pair is about funding alone: −$9 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.124% in total (about -6.4% 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	Kraken Futures PF_UNIUSD	9.0380	0.0389	pay 0.0049% / 1h	0m 33s	$5.0M	$7.0M	50x
Short	SunX UNI-USDT	9.0387	0.0100	get 0.0100% / 8h	7h 00m	$36K	$1.3M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.008%Rate

Funding earned: −$60.59
Price spread: +0.008% → +0.002%: $0.64
Slippage, 4 orders: −$51.43
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$129.39
Costs to cover: 0.694%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 3 min ago; SunX: 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 Kraken Futures live order book, 3 min ago	5.48 bp	17.6 bp −$18	19.2 bp −$192	50.5 bp −$5,055	doesn't fit
Sell SunX live order book, 4 min ago	12.77 bp	17.7 bp −$18	33.9 bp −$339	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
Deribit UNI_USDC-PERPETUAL	0.0000%	1h	9.0386	+0.007%	$584K	$186K	50x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0004%	1h	9.0369	−0.011%	$19K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−2.301%	$660	$154K	12x	as long as short
01 Exchange UNIUSD	+0.0096%	1h	9.0491	+0.123%	$452	—	10x	as long as short
Nado UNI-PERP	+0.0100%	1h	9.0520	+0.155%	$954K	$4.3M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	9.0572	+0.212%	$1.0M	$2.9M	50x	as long as short
Pacifica UNI	+0.0100%	1h	9.0522	+0.158%	$300K	$586K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	9.0535	+0.172%	$229.2M	$602.1M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	9.0530	+0.166%	$101.9M	$107.5M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	9.0510	+0.144%	$56.1M	$254.0M	50x	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	9.0560	+0.200%	$279K	$618K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	9.0470	+0.100%	$23.1M	$60.9M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	9.0480	+0.111%	$50.4M	$25.4M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	9.0550	+0.189%	$13.5M	$13.6M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	9.0490	+0.122%	$33.1M	$42.8M	75x	as long as short
BingX UNI-USDT	+0.0100%	8h	9.0490	+0.122%	—	$57.1M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	9.0372	−0.008%	$990K	$2.4M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	9.0329	−0.056%	$4.1M	$4.4M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	9.1109	+0.807%	$172K	$346K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	9.1234	+0.945%	$639K	$2.6M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	9.1120	+0.819%	$89K	$706K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	9.0670	+0.321%	$56K	$3.3M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	9.0556	+0.195%	$86K	$405K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	9.0370	−0.011%	$16K	$1.7M	10x	as long as short
SunX UNI-USDTshort	+0.0100%	8h	9.0387	+0.008%	$36K	$1.3M	30x
SoDEX UNI-USD	+0.0100%	1h	9.0314	−0.073%	$22K	$713K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	9.0580	+0.222%	$719K	$4.4M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	9.0440	+0.067%	$27.3M	$4.5M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	9.0460	+0.089%	$26K	—	20x	as long as short
Extended UNI-USD	+0.0104%	1h	9.0427	+0.052%	$304K	$1.5M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	9.0341	−0.043%	$32K	—	3x	as long as short
dYdX UNI-USD	+0.0203%	1h	9.0533	+0.170%	$243K	$24K	10x	as long as short
BloFin UNI-USDT	+0.0220%	8h	9.0450	+0.078%	$10.5M	$3.6M	75x	as long as short
Coinbase International UNI-PERP-INTX	+0.0272%	1h	9.0500	+0.133%	$1.1M	$4.8M	50x	as long as short
Reya UNIRUSDPERP	+0.0367%	1h	9.0483	+0.114%	$17K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0244%	1h	9.0355	−0.028%	$644K	—	120x	as long as short
Kraken Futures PF_UNIUSDlong	+0.0389%	1h	9.0380	long leg	$5.0M	$7.0M	50x
Hyperliquid UNI	+0.0510%	1h	9.0610	+0.255%	$99.4M	$58.8M	10x	as long as short
Lighter UNI	+0.0928%	1h	9.0717	+0.373%	$4.7M	$5.5M	15x	as long as short
Aftermath Perps UNIUSD	+0.1067%	1h	9.1143	+0.845%	$982	$49K	10x	as long as short