Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0468%/8h= −51.2% APRpaid last 24h −0.185%

Price spread now: HTX against Lighter−0.029%7-day average −0.030% · you buy dearer than you sell

Net, funding: paid 7d − costs−$87as in the Funding arb table

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

costs, in and out, $10k−$570.565% of the position

Long on Lighter Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.300%−$30 on $10k

Price spread, last 4 days (all we have)+0.534%+$53 · spread now −0.029%, 7d avg −0.030%

Together, before fees+0.234%+ Points / potential airdropLighter: Season 3 · farm board+$23 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.030%, so right now this pair is about funding alone: −$14 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 -0.300% in total (about -15.6% 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	9.1142	0.0568	pay 0.0071% / 1h	4m 09s	$4.6M	$5.8M	15x
Short	HTX UNI-USDT	9.1116	0.0100	get 0.0100% / 8h	5h 04m	$704K	$4.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.029%Rate

Funding earned: −$98.28
Price spread: −0.029% → −0.030%: $0.19
Slippage, 4 orders: −$44.51
Fee Lighter: 0 bp × 2 orders: $0
Fee HTX: 6 bp × 2 orders: −$12
Net: −$154.6
Costs to cover: 0.565%
Break-even: never at this rate

Slippage from Lighter: live order book, 4 min ago; HTX: live order book, 5 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, 4 min ago	1.98 bp	7.1 bp −$7	19.0 bp −$190	105.4 bp −$10.5K	doesn't fit
Sell HTX live order book, 5 min ago	10.69 bp	17.6 bp −$18	95.6 bp −$956	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
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0004%	1h	9.0957	−0.203%	$37K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−3.118%	$660	$154K	12x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0052%	1h	9.0944	−0.217%	$582K	$193K	50x	as long as short
01 Exchange UNIUSD	+0.0056%	1h	9.0977	−0.181%	$454	$5	10x	as long as short
Nado UNI-PERP	+0.0100%	1h	9.0895	−0.271%	$939K	$4.3M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	9.0970	−0.188%	$1.0M	$2.9M	50x	as long as short
Pacifica UNI	+0.0100%	1h	9.0983	−0.175%	$296K	$580K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	9.0990	−0.167%	$225.3M	$624.9M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	9.0950	−0.211%	$102.3M	$110.5M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	9.0970	−0.189%	$55.9M	$257.6M	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	9.1030	−0.123%	$288K	$618K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	9.0980	−0.178%	$23.3M	$62.4M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	9.0990	−0.167%	$49.2M	$25.4M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	9.1000	−0.156%	$13.7M	$13.0M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	9.0940	−0.222%	$33.4M	$43.7M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	9.0980	−0.178%	—	$6.5M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	9.1011	−0.144%	$1.0M	$2.3M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	9.0827	−0.345%	$4.3M	$4.3M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	9.1073	−0.075%	$172K	$344K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	9.1500	+0.393%	$637K	$2.7M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	9.1480	+0.371%	$89K	$695K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	9.1110	−0.035%	$36K	$3.3M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	9.0959	−0.201%	$87K	$421K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	9.0900	−0.266%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	9.1017	−0.137%	$37K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	9.0940	−0.222%	$22K	$790K	10x	as long as short
HTX UNI-USDTshort	+0.0100%	8h	9.1116	−0.029%	$704K	$4.5M	75x
Phemex UNIUSDT	+0.0100%	8h	9.1090	−0.057%	$27.5M	$4.5M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	9.0925	−0.239%	$26K	—	20x	as long as short
Extended UNI-USD	+0.0104%	1h	9.0852	−0.318%	$303K	$1.6M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	9.0943	−0.219%	$32K	—	3x	as long as short
dYdX UNI-USD	+0.0119%	1h	9.0962	−0.198%	$239K	$32K	10x	as long as short
BloFin UNI-USDT	+0.0220%	8h	9.1070	−0.079%	$10.4M	$3.6M	75x	as long as short
Kraken Futures PF_UNIUSD	+0.0270%	1h	9.1028	−0.125%	$5.1M	$7.7M	50x	as long as short
Coinbase International UNI-PERP-INTX	+0.0296%	1h	9.0980	−0.178%	$1.1M	$5.4M	50x	as long as short
Reya UNIRUSDPERP	+0.0371%	1h	9.0866	−0.303%	$17K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0244%	1h	9.0939	−0.223%	$647K	—	120x	as long as short
Hyperliquid UNI	+0.0549%	1h	9.1151	+0.010%	$99.4M	$61.7M	10x	as long as short
Lighter UNIlong	+0.0568%	1h	9.1142	long leg	$4.6M	$5.8M	15x
Aftermath Perps UNIUSD	+0.1029%	1h	9.1375	+0.256%	$954	$47K	10x	as long as short