Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0218%/8h= +23.9% APRpaid last 24h +0.010%

Price spread now: Deribit against OKX+0.016%7-day average +0.087% · you sell dearer than you buy

Net, funding: paid 7d − costs−$42as in the Funding arb table

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$400.396% of the position

Long on OKX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.020%−$2 on $10k

Price spread, last 3 days (all we have)+0.191%+$19 · spread now +0.016%, 7d avg +0.087%

Together, before fees+0.171%+$17 on $10k · with fees, hour by hour

Funding pays, the price is against you. Deribit is 0.071% cheaper against OKX than usual: you would sell low and buy high (spread +0.016% now, against its 7-day average of +0.087%). If the spread goes back, that is −$7 on $10k: about 26 hours of funding at the current rate (+$7 a day).

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.020% in total (about -1.0% 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	OKX UNI-USDT-SWAP	9.2330	0.0100	pay 0.0100% / 8h	7h 29m	$56.8M	$258.2M	50x
Short	Deribit UNI_USDC-PERPETUAL	9.2345	0.0318	get 0.0040% / 1h	29m 57s	$595K	$178K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against OKX. 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 OKXbpFee DeribitbpOrdersPrice spread, now +0.016%Rate

Funding earned: $45.78
Price spread: +0.016% → +0.087%: −$7.12
Slippage, 4 orders: −$22.62
Fee OKX: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$0.96
Costs to cover: 0.396%
Break-even: 7.1 days

Slippage from OKX: live order book, 4 min ago; Deribit: live order book, 44 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 OKX live order book, 4 min ago	0.55 bp	8.1 bp −$8	14.6 bp −$146	51.1 bp −$5,114	doesn't fit
Sell Deribit live order book, 44 min ago	7.01 bp	12.7 bp −$13	23.5 bp −$235	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 −0.0006%	1h	9.2327	−0.003%	$50K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−4.365%	$660	$154K	12x	as long as short
01 Exchange UNIUSD	+0.0072%	1h	9.2341	+0.012%	$461	—	10x	as long as short
Nado UNI-PERP	+0.0100%	1h	9.2275	−0.060%	$971K	$4.3M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	9.2446	+0.126%	$1.1M	$3.1M	50x	as long as short
Pacifica UNI	+0.0100%	1h	9.2268	−0.067%	$310K	$583K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	9.2367	+0.040%	$231.9M	$595.2M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	9.2320	−0.011%	$104.2M	$106.8M	75x	as long as short
OKX UNI-USDT-SWAPlong	+0.0100%	8h	9.2330	long leg	$56.8M	$258.2M	50x
Arcus UNI-USD	+0.0100%	1h	9.2370	+0.043%	$275K	$616K	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate UNI_USDT	+0.0100%	8h	9.2330	0.000%	$23.4M	$59.0M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	9.2290	−0.043%	$45.2M	$23.9M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	9.2300	−0.032%	$13.9M	$13.5M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	9.2370	+0.043%	$33.9M	$42.2M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	9.2360	+0.032%	—	$6.5M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	9.2371	+0.044%	$1.1M	$2.4M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	9.2011	−0.346%	$4.2M	$4.4M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	9.1283	−1.134%	$172K	$344K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	9.1100	−1.332%	$644K	$2.6M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	9.1340	−1.072%	$89K	$708K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	9.1560	−0.834%	$36K	$3.3M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	9.2356	+0.028%	$87K	$375K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	9.2330	0.000%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	9.2399	+0.075%	$37K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	9.2297	−0.036%	$22K	$714K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	9.2405	+0.081%	$733K	$4.4M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	9.2300	−0.032%	$27.8M	$4.5M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	9.2270	−0.065%	$26K	—	20x	as long as short
Extended UNI-USD	+0.0104%	1h	9.2278	−0.056%	$306K	$1.5M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	9.2289	−0.044%	$33K	—	3x	as long as short
dYdX UNI-USD	+0.0125%	1h	9.2252	−0.085%	$254K	$8K	10x	as long as short
BloFin UNI-USDT	+0.0220%	8h	9.2130	−0.217%	$10.3M	$3.6M	75x	as long as short
Coinbase International UNI-PERP-INTX	+0.0272%	1h	9.2410	+0.087%	$1.1M	$4.9M	50x	as long as short
Deribit UNI_USDC-PERPETUALshort	+0.0318%	1h	9.2345	+0.016%	$595K	$178K	50x
Reya UNIRUSDPERP	+0.0366%	1h	9.2323	−0.008%	$17K	—	20x	as long as short
Kraken Futures PF_UNIUSD	+0.0380%	1h	9.2375	+0.049%	$5.2M	$7.0M	50x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0382% / S −0.0323%	1h	9.2325	−0.005%	$585K	—	120x	as long as short
Hyperliquid UNI	+0.0525%	1h	9.2475	+0.157%	$101.8M	$60.3M	10x	as long as short
Aftermath Perps UNIUSD	+0.0932%	1h	9.1767	−0.610%	$952	$49K	10x	as long as short
Lighter UNI	+0.0944%	1h	9.2474	+0.156%	$4.7M	$5.3M	15x	as long as short