Funding you earn now, next payment 23:00 UTC−0.0508%/8h= −55.6% APRnext payment −$0.64 per $10,000 · paid last 24h −0.166%
Price spread now: Backpack against Lighter−0.197%54s7-day average +0.416% · you buy dearer than you sell
Net, funding: paid 7d − costs−$50as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$220.222% of the position
Funding, last 7 days−0.280%−$28 on $10k
+Price spread, last 7 days−0.001%$0 · spread now −0.197%, 7d avg +0.416%
=Together, before fees−0.281%+ Points / potential airdropLighter: Season 3 · farm board−$28 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$15 a day on $10k at the current rate, and Backpack is 0.613% cheaper against Lighter than usual: you would sell low and buy high (−$61 if the spread goes back to its 7-day average of +0.416%). Swap the legs. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.280% in total (about -14.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.64 per $10,000. 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 | Lighter UNI | 8.8461 | 0.0608 | pay 0.0076% / 1h | 31m 13s | $4.5M | $5.2M | 15x |
| Short | Backpack UNI_USDC_PERP | 8.8287 | 0.0100 | get 0.0013% / 1h | 31m 13s | $980K | $2.3M | 10x |
Lighter UNI
Backpack UNI_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Lighter. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$106.68
- Price spread: −0.197% → +0.416%
- −$61.31
- Slippage, 4 orders
- −$12.17
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$190.16
- Costs to cover
- 0.222%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 7 min ago; Backpack: live order book, 3 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 Lighter live order book, 7 min ago | 1.36 bp | 7.7 bp −$8 | 20.8 bp −$208 | 103.9 bp −$10.4K | doesn't fit |
| Sell Backpack live order book, 3 min ago | 0.06 bp | 7.1 bp −$7 | 87.5 bp −$875 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni UNI | −0.0076% | 8h | 8.8115 | −0.391% | $3.9M | $4.5M | — | as long as short |
| Bybit UNIUSDT | −0.0013% | 8h | 8.8260 | −0.227% | $100.6M | $104.3M | 75x | as long as short |
| gTrade (Gains Network) UNI/USD | L +0.0004% / S −0.0004% | 1h | 8.8325 | −0.154% | $61K | — | 150x | as long as short |
| Injective UNI/USDC PERP | +0.0033% | 1h | 8.8300 | −0.182% | $660 | $155K | 12x | as long as short |
| OKX UNI-USDT-SWAP | +0.0041% | 8h | 8.8270 | −0.216% | $54.7M | $243.4M | 50x | as long as short |
| 01 Exchange UNIUSD | +0.0048% | 1h | 8.8332 | −0.146% | $441 | — | 10x | as long as short |
| Deribit UNI_USDC-PERPETUAL | +0.0099% | 1h | 8.8335 | −0.143% | $562K | $157K | 50x | as long as short |
| Paradex UNI-USD-PERP | +0.0100% | 8h | 8.8269 | −0.218% | $25K | — | 20x | as long as short |
| Nado UNI-PERP | +0.0100% | 1h | 8.8295 | −0.188% | $934K | $4.0M | 10x | as long as short |
| Aster UNIUSDT | +0.0100% | 8h | 8.8360 | −0.114% | $1.0M | $3.4M | 50x | as long as short |
Variational Omni UNI
Bybit UNIUSDT
gTrade (Gains Network) UNI/USD
Injective UNI/USDC PERP
OKX UNI-USDT-SWAP
01 Exchange UNIUSD
Deribit UNI_USDC-PERPETUAL
Paradex UNI-USD-PERP
Nado UNI-PERP
Aster UNIUSDTShow all 40 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Pacifica UNI | +0.0100% | 1h | 8.8308 | −0.172% | $296K | $570K | 10x | as long as short |
| Binance UNIUSDT | +0.0100% | 8h | 8.8280 | −0.205% | $216.6M | $587.9M | 75x | as long as short |
| Arcus UNI-USD | +0.0100% | 1h | 8.8360 | −0.114% | $281K | $615K | 10x | as long as short |
| Gate UNI_USDT | +0.0100% | 8h | 8.8300 | −0.182% | $22.9M | $58.5M | 75x | as long as short |
| MEXC UNI_USDT | +0.0100% | 8h | 8.8310 | −0.171% | $42.7M | $24.5M | 200x | as long as short |
| KuCoin UNIUSDTM | +0.0100% | 8h | 8.8290 | −0.193% | $13.5M | $13.8M | 75x | as long as short |
| Bitget UNIUSDT | +0.0100% | 8h | 8.8250 | −0.239% | $32.0M | $41.3M | 75x | as long as short |
| BingX UNI-USDC | +0.0100% | 8h | 8.8290 | −0.193% | — | $6.5M | — | as long as short |
| Backpack UNI_USDC_PERPshort | +0.0100% | 1h | 8.8287 | −0.197% | $980K | $2.3M | 10x | |
| edgeX UNIUSDC | +0.0100% | 4h | 8.8322 | −0.157% | $166K | $344K | 20x | as long as short |
| GRVT UNI_USDT_Perp | +0.0100% | 8h | 8.8300 | −0.182% | $612K | $2.5M | 10x | as long as short |
| ApeX Omni UNIUSDT | +0.0100% | 1h | 8.8330 | −0.148% | $87K | $713K | 50x | as long as short |
| StandX UNI-USD | +0.0100% | 1h | 8.8250 | −0.239% | $105K | $3.2M | 20x | as long as short |
| Polymarket Perps UNI-USD | +0.0100% | 1h | 8.8311 | −0.170% | $86K | $351K | 10x | as long as short |
| Orderly PERP_UNI_USDC | +0.0100% | 8h | 8.8260 | −0.227% | $16K | $1.7M | 10x | as long as short |
| SunX UNI-USDT | +0.0100% | 8h | 8.8347 | −0.129% | $36K | $1.3M | 30x | as long as short |
| SoDEX UNI-USD | +0.0100% | 1h | 8.8282 | −0.202% | $25K | $666K | 10x | as long as short |
| HTX UNI-USDT | +0.0100% | 8h | 8.8387 | −0.084% | $726K | $4.3M | 75x | as long as short |
| Phemex UNIUSDT | +0.0100% | 8h | 8.8280 | −0.205% | $26.6M | $4.5M | 50x | as long as short |
| Extended UNI-USD | +0.0104% | 1h | 8.8245 | −0.244% | $300K | $1.4M | 25x | as long as short |
| Aevo UNI-PERP | +0.0104% | 1h | 8.8310 | −0.171% | $31K | $1K | 3x | as long as short |
| dYdX UNI-USD | +0.0112% | 1h | 8.8339 | −0.137% | $245K | $6K | 10x | as long as short |
| BloFin UNI-USDT | +0.0220% | 8h | 8.8240 | −0.250% | $9.8M | $3.3M | 75x | as long as short |
| Coinbase International UNI-PERP-INTX | +0.0224% | 1h | 8.8340 | −0.137% | $1.0M | $5.3M | 50x | as long as short |
| Hyperliquid UNI | +0.0296% | 1h | 8.8416 | −0.051% | $96.7M | $59.2M | 10x | as long as short |
| Kraken Futures PF_UNIUSD | +0.0343% | 1h | 8.8346 | −0.130% | $4.9M | $7.0M | 50x | as long as short |
| Reya UNIRUSDPERP | +0.0362% | 1h | 8.8281 | −0.204% | $16K | — | 20x | as long as short |
| GMX UNI/USD [UNI-USDC] | L +0.0379% / S −0.0319% | 1h | 8.8312 | −0.169% | $553K | — | 120x | as long as short |
| Lighter UNIlong | +0.0608% | 1h | 8.8461 | long leg | $4.5M | $5.2M | 15x | |
| Aftermath Perps UNIUSD | +0.0630% | 1h | 8.8345 | −0.131% | $1K | $49K | 10x | as long as short |
Pacifica UNI
Binance UNIUSDT
Arcus UNI-USD
Gate UNI_USDT
MEXC UNI_USDT
KuCoin UNIUSDTM
Bitget UNIUSDT
BingX UNI-USDC
edgeX UNIUSDC
GRVT UNI_USDT_Perp
ApeX Omni UNIUSDT
StandX UNI-USD
Polymarket Perps UNI-USD
Orderly PERP_UNI_USDC
SunX UNI-USDT
SoDEX UNI-USD
HTX UNI-USDT
Phemex UNIUSDT
Extended UNI-USD
Aevo UNI-PERP
dYdX UNI-USD
BloFin UNI-USDT
Coinbase International UNI-PERP-INTX
Hyperliquid UNI
Kraken Futures PF_UNIUSD
Reya UNIRUSDPERP
GMX UNI/USD [UNI-USDC]
Aftermath Perps UNIUSD