Funding arb · Price arb /

UNI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0310%/8h= +34.0% APRpaid last 24h 0.000%

Price spread now: HTX against Nado+0.121%7-day average +0.171% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$380.384% of the position

Long on Nado Short on HTX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.002%$0 on $10k

Price spread, last 4 days (all we have)+0.069%+$7 · spread now +0.121%, 7d avg +0.171%

Together, before fees+0.071%+ Points / potential airdropNado: Active · farm board+$7 on $10k · with fees, hour by hour

Funding pays, the price is against you. HTX is 0.050% cheaper against Nado than usual: you would sell low and buy high (spread +0.121% now, against its 7-day average of +0.171%). If the spread goes back, that is −$5 on $10k: about 13 hours of funding at the current rate (+$9 a day). At the pace of the last 3 days (+0.002% in total) that is about 4 months.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.002% in total (about 0.2% 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	Nado UNI-PERP	8.9080	−0.0210	get 0.0026% / 1h	47m 47s	$794K	$4.7M	10x
Short	HTX UNI-USDT	8.9188	0.0100	get 0.0100% / 8h	2h 47m	$711K	$5.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Nado. 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 NadobpFee HTXbpOrdersPrice spread, now +0.121%Rate

Funding earned: $65.19
Price spread: +0.121% → +0.171%: −$5.01
Slippage, 4 orders: −$19.39
Fee Nado: 3.5 bp × 2 orders: −$7
Fee HTX: 6 bp × 2 orders: −$12
Net: $21.79
Costs to cover: 0.384%
Break-even: 4.7 days

Slippage from Nado: live order book, 6 min ago; HTX: live order book, 6 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 Nado live order book, 6 min ago	0.06 bp	5.6 bp −$6	13.4 bp −$134	doesn't fit	doesn't fit
Sell HTX live order book, 6 min ago	5.74 bp	11.8 bp −$12	42.0 bp −$420	311.7 bp −$31.2K	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
Nado UNI-PERPlong	−0.0210%	1h	8.9080	long leg	$794K	$4.7M	10x
01 Exchange UNIUSD	−0.0088%	1h	8.9132	+0.058%	$445	$5	10x	as long as short
Kraken Futures PF_UNIUSD	−0.0017%	1h	8.9154	+0.084%	$4.8M	$8.4M	50x	as long as short
dYdX UNI-USD	0.0000%	1h	8.8974	−0.119%	$234K	$31K	10x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0007%	1h	8.9178	+0.111%	$49K	—	150x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0018%	1h	8.9210	+0.146%	$572K	$208K	50x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−0.876%	$660	$153K	12x	as long as short
Lighter UNI	+0.0096%	1h	8.9193	+0.127%	$4.5M	$5.4M	15x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.8923	−0.176%	$25K	—	20x	as long as short
Hyperliquid UNI	+0.0100%	1h	8.9210	+0.146%	$95.1M	$66.3M	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster UNIUSDT	+0.0100%	8h	8.9022	−0.065%	$756K	$3.6M	50x	as long as short
Pacifica UNI	+0.0100%	1h	8.9010	−0.079%	$285K	$612K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	8.8940	−0.157%	$216.3M	$657.9M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	8.8910	−0.191%	$99.4M	$112.6M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	8.8920	−0.180%	$54.0M	$263.4M	50x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.9210	+0.146%	$332K	$684K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.9070	−0.011%	$23.6M	$64.5M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.8980	−0.112%	$46.8M	$26.3M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.9120	+0.045%	$13.2M	$13.4M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.9050	−0.034%	$32.8M	$46.5M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	8.9060	−0.022%	—	$6.5M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	8.9177	+0.109%	$1.0M	$2.4M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	8.9009	−0.079%	$4.1M	$4.2M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.8705	−0.421%	$168K	$345K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.9060	−0.022%	$621K	$2.8M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.9030	−0.056%	$91K	$704K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.9100	+0.022%	$15K	$3.4M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.9106	+0.029%	$99K	$498K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.9170	+0.101%	$16K	$1.6M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.9195	+0.129%	$36K	$1.4M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.9130	+0.056%	$25K	$850K	10x	as long as short
HTX UNI-USDTshort	+0.0100%	8h	8.9188	+0.121%	$711K	$5.0M	75x
Phemex UNIUSDT	+0.0100%	8h	8.9130	+0.056%	$27.0M	$4.3M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	8.8986	−0.106%	$295K	$1.7M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.9151	+0.079%	$32K	—	3x	as long as short
Coinbase International UNI-PERP-INTX	+0.0184%	1h	8.9150	+0.079%	$932K	$5.8M	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.9090	+0.011%	$10.0M	$3.6M	75x	as long as short
Reya UNIRUSDPERP	+0.0376%	1h	8.9112	+0.036%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0244%	1h	8.9176	+0.108%	$634K	—	120x	as long as short
Aftermath Perps UNIUSD	+0.0655%	1h	8.8953	−0.143%	$957	$45K	10x	as long as short