Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0220%/8h= +24.1% APRpaid last 24h +0.083%

Price spread now: GMX against KuCoin−0.086%7-day average +0.039% · you buy dearer than you sell

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

Long on KuCoin Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.120%+$12 on $10k

Price spread, last 3 days (all we have)+0.223%+$22 · spread now −0.086%, 7d avg +0.039%

Together, before fees+0.342%+$34 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.125% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.086% now, against its 7-day average of +0.039%). If the spread goes back, that is −$13 on $10k: about 46 hours of funding at the current rate (+$7 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin UNIUSDTM	9.0380	0.0100	pay 0.0100% / 8h	42m 21s	$13.7M	$13.5M	75x
Short	GMX UNI/USD [UNI-USDC]	9.0302	L +0.0380% / S −0.0320%	get 0.0040% / 1h	42m 21s	$569K	—	120x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now −0.086%Rate

Funding earned: $46.21
Price spread: −0.086% → +0.039%: −$12.54
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: $9.67
Costs to cover: 0.240%
Break-even: 5.5 days

Slippage unknown: KuCoin: live order book, 1 min ago; GMX: 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 KuCoin live order book, 1 min ago	0.55 bp	20.0 bp −$20	34.3 bp −$343	74.2 bp −$7,418	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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 PERP	−0.0049%	1h	8.8300	−2.301%	$660	$155K	12x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0004%	1h	9.0315	−0.072%	$63K	—	150x	as long as short
Variational Omni UNI	+0.0015%	8h	9.0614	+0.259%	$4.1M	$4.4M	—	as long as short
Bybit UNIUSDT	+0.0063%	8h	9.0280	−0.111%	$103.1M	$104.5M	75x	as long as short
dYdX UNI-USD	+0.0068%	1h	9.0422	+0.046%	$250K	$6K	10x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0077%	1h	9.0350	−0.033%	$582K	$175K	50x	as long as short
OKX UNI-USDT-SWAP	+0.0086%	8h	9.0280	−0.111%	$55.4M	$249.9M	50x	as long as short
Nado UNI-PERP	+0.0100%	1h	9.0360	−0.022%	$957K	$4.2M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	9.0385	+0.006%	$1.0M	$3.3M	50x	as long as short
Pacifica UNI	+0.0100%	1h	9.0438	+0.065%	$300K	$586K	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance UNIUSDT	+0.0100%	8h	9.0340	−0.044%	$223.5M	$588.5M	75x	as long as short
Arcus UNI-USD	+0.0100%	1h	9.0480	+0.111%	$279K	$620K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	9.0320	−0.066%	$23.1M	$58.4M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	9.0330	−0.055%	$43.5M	$23.9M	200x	as long as short
KuCoin UNIUSDTMlong	+0.0100%	8h	9.0380	long leg	$13.7M	$13.5M	75x
Bitget UNIUSDT	+0.0100%	8h	9.0270	−0.122%	$32.8M	$41.9M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	9.0300	−0.089%	—	$6.5M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	9.0499	+0.132%	$170K	$345K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	9.0440	+0.066%	$630K	$2.5M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	9.0500	+0.133%	$89K	$712K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	9.0270	−0.122%	$36K	$3.3M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	9.0366	−0.015%	$88K	$356K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	9.0320	−0.066%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	9.0391	+0.012%	$36K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	9.0310	−0.077%	$25K	$669K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	9.0544	+0.181%	$739K	$4.3M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	9.0330	−0.055%	$27.3M	$4.5M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	9.0308	−0.080%	$26K	—	20x	as long as short
Extended UNI-USD	+0.0104%	1h	9.0269	−0.123%	$305K	$1.5M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	9.0325	−0.061%	$32K	$1K	3x	as long as short
Backpack UNI_USDC_PERP	+0.0156%	1h	9.0303	−0.085%	$1.0M	$2.4M	10x	as long as short
BloFin UNI-USDT	+0.0220%	8h	9.0190	−0.210%	$10.0M	$3.5M	75x	as long as short
01 Exchange UNIUSD	+0.0224%	1h	9.0420	+0.044%	$451	—	10x	as long as short
Coinbase International UNI-PERP-INTX	+0.0232%	1h	9.0450	+0.077%	$1.1M	$5.4M	50x	as long as short
Reya UNIRUSDPERP	+0.0364%	1h	9.0286	−0.104%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]short	L +0.0380% / S −0.0320%	1h	9.0302	−0.086%	$569K	—	120x
Kraken Futures PF_UNIUSD	+0.0560%	1h	9.0377	−0.003%	$5.0M	$7.0M	50x	as long as short
Hyperliquid UNI	+0.0721%	1h	9.0441	+0.067%	$99.5M	$59.2M	10x	as long as short
Aftermath Perps UNIUSD	+0.0800%	1h	9.0572	+0.212%	$1K	$49K	10x	as long as short
Lighter UNI	+0.1056%	1h	9.0475	+0.105%	$4.6M	$5.2M	15x	as long as short