Funding arb · Price arb /

UNI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0556%/8h= −60.9% APRpaid last 24h −0.169%

Price spread now: edgeX against Lighter−0.155%79s7-day average −0.147% · you buy dearer than you sell

Net, funding: paid 7d − costs−$55as 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−$280.283% of the position

Long on Lighter Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.267%−$27 on $10k

Price spread, last 3 days (all we have)−0.011%−$1 · spread now −0.155%, 7d avg −0.147%

Together, before fees−0.279%+ Points / potential airdropLighter: Season 3 · edgeX: Active · farm board−$28 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.147%, so right now this pair is about funding alone: −$17 a day on $10k at the current rate. The two prices were read 79 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 -0.267% in total (about -13.9% 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	Lighter UNI	8.9465	0.0656	pay 0.0082% / 1h	8m 16s	$4.6M	$5.2M	15x
Short	edgeX UNIUSDC	8.9326	0.0100	get 0.0050% / 4h	1h 08m	$168K	$343K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Lighter. 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 LighterbpFee edgeXbpOrdersPrice spread, now −0.155%Rate

Funding earned: −$116.76
Price spread: −0.155% → −0.147%: −$0.81
Slippage, 4 orders: −$19.3
Fee Lighter: 0 bp × 2 orders: $0
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$145.87
Costs to cover: 0.283%
Break-even: never at this rate

Slippage from Lighter: live order book, 5 min ago; edgeX: live order book, 10 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, 5 min ago	1.79 bp	5.8 bp −$6	13.5 bp −$135	90.7 bp −$9,073	doesn't fit
Sell edgeX live order book, 10 min ago	2.25 bp	7.5 bp −$8	20.8 bp −$208	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	−0.0038%	8h	8.9363	−0.114%	$4.0M	$4.6M	—	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0004%	1h	8.9283	−0.203%	$62K	—	150x	as long as short
Bybit UNIUSDT	+0.0015%	8h	8.9250	−0.240%	$101.9M	$104.8M	75x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−1.302%	$660	$155K	12x	as long as short
OKX UNI-USDT-SWAP	+0.0058%	8h	8.9270	−0.218%	$55.2M	$246.6M	50x	as long as short
01 Exchange UNIUSD	+0.0080%	1h	8.9335	−0.145%	$446	—	10x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.9265	−0.224%	$25K	—	20x	as long as short
Nado UNI-PERP	+0.0100%	1h	8.9265	−0.224%	$943K	$4.1M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.9375	−0.101%	$1.0M	$3.3M	50x	as long as short
Pacifica UNI	+0.0100%	1h	8.9302	−0.183%	$297K	$584K	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	8.9280	−0.207%	$219.7M	$590.4M	75x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.9380	−0.095%	$275K	$621K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.9280	−0.207%	$23.0M	$59.0M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.9280	−0.207%	$43.1M	$24.6M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.9280	−0.207%	$13.6M	$13.8M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.9260	−0.229%	$32.4M	$41.3M	75x	as long as short
BingX UNI-USDT	+0.0100%	8h	8.9260	−0.229%	—	$51.7M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	8.9313	−0.170%	$992K	$2.3M	10x	as long as short
edgeX UNIUSDCshort	+0.0100%	4h	8.9326	−0.155%	$168K	$343K	20x
GRVT UNI_USDT_Perp	+0.0100%	8h	8.9094	−0.415%	$628K	$2.5M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.9000	−0.520%	$88K	$712K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.9290	−0.196%	$107K	$3.2M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.9276	−0.211%	$87K	$356K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.9290	−0.196%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.9343	−0.136%	$36K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.9275	−0.212%	$25K	$666K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.9367	−0.110%	$731K	$4.3M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.9300	−0.184%	$26.9M	$4.4M	50x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0103%	1h	8.9322	−0.159%	$568K	$157K	50x	as long as short
Extended UNI-USD	+0.0104%	1h	8.9239	−0.252%	$302K	$1.5M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.9295	−0.190%	$32K	$1K	3x	as long as short
dYdX UNI-USD	+0.0117%	1h	8.9287	−0.198%	$247K	$6K	10x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.9230	−0.263%	$9.9M	$3.4M	75x	as long as short
Coinbase International UNI-PERP-INTX	+0.0224%	1h	8.9320	−0.162%	$1.1M	$5.3M	50x	as long as short
Kraken Futures PF_UNIUSD	+0.0339%	1h	8.9359	−0.118%	$5.0M	$7.0M	50x	as long as short
Reya UNIRUSDPERP	+0.0363%	1h	8.9242	−0.249%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0379% / S −0.0319%	1h	8.9287	−0.199%	$559K	—	120x	as long as short
Hyperliquid UNI	+0.0433%	1h	8.9412	−0.059%	$98.5M	$59.3M	10x	as long as short
Aftermath Perps UNIUSD	+0.0654%	1h	8.9244	−0.247%	$1K	$49K	10x	as long as short
Lighter UNIlong	+0.0656%	1h	8.9465	long leg	$4.6M	$5.2M	15x