Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0144%/8h= +15.7% APRpaid last 24h +0.113%

Price spread now: GMX against MEXC+0.111%193s7-day average +0.008% · you sell dearer than you buy

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

Long on MEXC Short on GMX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.102%+$10 on $10k

Price spread, last 4 days (all we have)+0.037%+$4 · spread now +0.111%, 7d avg +0.008%

Together, before fees+0.139%+$14 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and GMX is 0.103% dearer against MEXC than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.008%. The two prices were read 193 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC UNI_USDT	8.8040	0.0100	pay 0.0100% / 8h	5h 49m	$46.2M	$20.5M	200x
Short	GMX UNI/USD [UNI-USDC]	8.8137	L +0.0381% / S −0.0244%	get 0.0030% / 1h	49m 10s	$627K	—	120x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against MEXC. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 MEXCbpFee GMXbpOrdersPrice spread, now +0.111%Rate

Funding earned: $30.16
Price spread: +0.111% → +0.008%: $10.3
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee GMX: 6 bp × 2 orders: −$12
Net: $24.46
Costs to cover: 0.160%
Break-even: 1.3 days

Slippage unknown: MEXC: live order book, 3 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 MEXC live order book, 3 min ago	0.57 bp	3.4 bp −$3	7.4 bp −$74	23.0 bp −$2,302	147.2 bp −$73.6K
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 exchanges

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
Deribit UNI_USDC-PERPETUAL	0.0000%	1h	8.8069	+0.033%	$583K	$216K	50x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0005%	1h	8.8160	+0.136%	$76K	—	150x	as long as short
Nado UNI-PERP	+0.0025%	1h	8.7980	−0.068%	$711K	$3.9M	10x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	+0.295%	$660	$147K	12x	as long as short
Lighter UNI	+0.0096%	1h	8.8178	+0.157%	$4.4M	$4.8M	15x	as long as short
01 Exchange UNIUSD	+0.0096%	1h	8.8051	+0.012%	$439	$56	10x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.7981	−0.067%	$25K	—	20x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.8092	+0.059%	$740K	$2.4M	50x	as long as short
Pacifica UNI	+0.0100%	1h	8.8042	+0.002%	$288K	$460K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	8.8050	+0.011%	$213.8M	$565.8M	75x	as long as short

Show all 40 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit UNIUSDT	+0.0100%	8h	8.8010	−0.034%	$97.4M	$96.9M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	8.8030	−0.011%	$54.4M	$225.6M	50x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.8130	+0.102%	$323K	$515K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.8020	−0.023%	$27.7M	$54.9M	75x	as long as short
MEXC UNI_USDTlong	+0.0100%	8h	8.8040	long leg	$46.2M	$20.5M	200x
KuCoin UNIUSDTM	+0.0100%	8h	8.8060	+0.023%	$12.8M	$11.2M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.8000	−0.045%	$32.8M	$42.0M	75x	as long as short
BingX UNI-USDT	+0.0100%	8h	8.8030	−0.011%	—	$50.2M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	8.8139	+0.112%	$1.1M	$2.2M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	8.7993	−0.054%	$4.1M	$2.7M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.8017	−0.026%	$166K	$346K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.8156	+0.132%	$618K	$2.2M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.8070	+0.034%	$89K	$713K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.8070	+0.034%	$93K	$3.5M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.8026	−0.016%	$105K	$573K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.8010	−0.034%	$16K	$2.5M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.8012	−0.032%	$36K	$1.1M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.8025	−0.017%	$32K	$725K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.8107	+0.076%	$702K	$4.0M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.8070	+0.034%	$26.6M	$4.5M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	8.7971	−0.078%	$298K	$1.7M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.8023	−0.020%	$31K	—	3x	as long as short
Kraken Futures PF_UNIUSD	+0.0131%	1h	8.8090	+0.057%	$4.7M	$7.6M	50x	as long as short
Hyperliquid UNI	+0.0172%	1h	8.8138	+0.111%	$94.8M	$60.6M	10x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.8030	−0.011%	$10.0M	$3.4M	75x	as long as short
Coinbase International UNI-PERP-INTX	+0.0240%	1h	8.8160	+0.136%	$921K	$4.3M	50x	as long as short
GMX UNI/USD [UNI-USDC]short	L +0.0381% / S −0.0244%	1h	8.8137	+0.111%	$627K	—	120x
Reya UNIRUSDPERP	+0.0386%	1h	8.8008	−0.037%	$16K	—	20x	as long as short
Aftermath Perps UNIUSD	+0.0574%	1h	8.8211	+0.194%	$1K	$49K	10x	as long as short
dYdX UNI-USD	+0.0684%	1h	8.8042	+0.002%	$231K	$32K	10x	as long as short