Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0084%/8h= −9.2% APRpaid last 24h 0.000%

Price spread now: Deribit against KuCoin+0.019%7-day average +0.055% · you sell dearer than you buy

Net, funding: paid 7d − costs−$72as in the Funding arb table

Net, price: spread back to 7d avg − costs−$72as in the Price arb table

costs, in and out, $10k−$690.688% of the position

Long on KuCoin Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.036%−$4 on $10k

Price spread, last 4 days (all we have)+0.250%+$25 · spread now +0.019%, 7d avg +0.055%

Together, before fees+0.214%+$21 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Deribit is 0.036% cheaper against KuCoin than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.055%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin UNIUSDTM	9.0190	0.0100	pay 0.0100% / 8h	2h 01m	$13.2M	$13.4M	75x
Short	Deribit UNI_USDC-PERPETUAL	9.0207	0.0016	get 0.0002% / 1h	1m 11s	$594K	$247K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against KuCoin. 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 KuCoinbpFee DeribitbpOrdersPrice spread, now +0.019%Rate

Funding earned: −$17.64
Price spread: +0.019% → +0.055%: −$3.64
Slippage, 4 orders: −$49.78
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$90.06
Costs to cover: 0.688%
Break-even: never at this rate

Slippage from KuCoin: live order book, 7 min ago; Deribit: live order book, 48 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 KuCoin live order book, 7 min ago	2.77 bp	16.6 bp −$17	20.0 bp −$200	81.4 bp −$8,144	doesn't fit
Sell Deribit live order book, 48 min ago	6.95 bp	11.8 bp −$12	20.5 bp −$205	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
Kraken Futures PF_UNIUSD	−0.0017%	1h	9.0162	−0.031%	$4.8M	$8.6M	50x	as long as short
Nado UNI-PERP	−0.0005%	1h	9.0202	+0.014%	$777K	$4.7M	10x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0007%	1h	9.0215	+0.028%	$49K	—	150x	as long as short
01 Exchange UNIUSD	+0.0008%	1h	9.0258	+0.075%	$450	$5	10x	as long as short
Deribit UNI_USDC-PERPETUALshort	+0.0016%	1h	9.0207	+0.019%	$594K	$247K	50x
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−2.096%	$660	$153K	12x	as long as short
Polymarket Perps UNI-USD	+0.0076%	1h	9.0175	−0.017%	$125K	$583K	10x	as long as short
Lighter UNI	+0.0096%	1h	9.0276	+0.095%	$4.6M	$5.6M	15x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	9.0298	+0.120%	$26K	—	20x	as long as short
Aster UNIUSDT	+0.0100%	8h	9.0191	+0.001%	$744K	$3.6M	50x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica UNI	+0.0100%	1h	9.0332	+0.158%	$291K	$592K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	9.0120	−0.078%	$218.6M	$659.4M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	9.0110	−0.089%	$100.3M	$112.4M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	9.0120	−0.078%	$54.8M	$268.6M	50x	as long as short
Arcus UNI-USD	+0.0100%	1h	9.0400	+0.233%	$322K	$705K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	9.0220	+0.033%	$24.8M	$67.0M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	9.0160	−0.033%	$49.7M	$27.2M	200x	as long as short
KuCoin UNIUSDTMlong	+0.0100%	8h	9.0190	long leg	$13.2M	$13.4M	75x
Bitget UNIUSDT	+0.0100%	8h	9.0120	−0.078%	$33.1M	$45.9M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	9.0160	−0.033%	—	$6.5M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	9.0185	−0.006%	$1.1M	$2.4M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	9.0319	+0.143%	$4.2M	$4.3M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	9.0251	+0.068%	$171K	$346K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	9.0314	+0.138%	$626K	$2.7M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	9.0360	+0.188%	$91K	$709K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	9.0370	+0.200%	$15K	$3.5M	20x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	9.0180	−0.011%	$17K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	9.0199	+0.010%	$37K	$1.4M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	9.0120	−0.078%	$32K	$886K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	9.0365	+0.194%	$705K	$5.0M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	9.0160	−0.033%	$27.2M	$4.5M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	9.0110	−0.089%	$300K	$1.7M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	9.0165	−0.028%	$32K	—	3x	as long as short
dYdX UNI-USD	+0.0140%	1h	9.0323	+0.147%	$238K	$31K	10x	as long as short
Coinbase International UNI-PERP-INTX	+0.0184%	1h	9.0290	+0.111%	$941K	$5.7M	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	9.0100	−0.100%	$10.1M	$3.7M	75x	as long as short
Hyperliquid UNI	+0.0247%	1h	9.0345	+0.172%	$97.0M	$66.6M	10x	as long as short
Reya UNIRUSDPERP	+0.0377%	1h	9.0177	−0.015%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0243%	1h	9.0208	+0.020%	$642K	—	120x	as long as short
Aftermath Perps UNIUSD	+0.0471%	1h	9.0210	+0.022%	$1K	$54K	10x	as long as short