Funding arb · Price arb /

UNI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0175%/8h= +19.2% APRpaid last 24h +0.056%

Price spread now: Hyperliquid against Paradex−0.123%7-day average — · you buy dearer than you sell

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

Long on Paradex Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · Hyperliquid: Season 2 · farm boardneeds both histories

Funding pays, the price is against you. Hyperliquid is 0.123% cheaper against Paradex than usual: you would sell low and buy high (spread −0.123% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$12 on $10k: about 2.3 days of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex UNI-USD-PERP	8.9404	0.0100	pay 0.0100% / 8h	1h 33m	$26K	—	20x
Short	Hyperliquid UNI	8.9294	0.0275	get 0.0034% / 1h	33m 12s	$94.9M	$67.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Paradex. 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 ParadexbpFee HyperliquidbpOrdersPrice spread, now −0.123%Rate

Funding earned: $36.82
Price spread: −0.123% → 0.000%: −$12.27
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $11.55
Costs to cover: 0.130%
Break-even: 4.8 days

Slippage unknown: Paradex: no order-book sample; Hyperliquid: live order book, 11 min ago. 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 Paradex no order-book sample	—	—	—	—	—
Sell Hyperliquid live order book, 11 min ago	1.01 bp	8.4 bp −$8	doesn't fit	doesn't fit	doesn't fit

Paradex: 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 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
Polymarket Perps UNI-USD	−0.0168%	1h	8.9375	−0.032%	$108K	$617K	10x	as long as short
Kraken Futures PF_UNIUSD	−0.0017%	1h	8.9325	−0.089%	$4.7M	$8.7M	50x	as long as short
01 Exchange UNIUSD	0.0000%	1h	8.9381	−0.025%	$446	$5	10x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0007%	1h	8.9308	−0.106%	$49K	—	150x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0015%	1h	8.9356	−0.053%	$589K	$250K	50x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−1.235%	$660	$153K	12x	as long as short
Nado UNI-PERP	+0.0086%	1h	8.9405	+0.001%	$748K	$4.7M	10x	as long as short
Lighter UNI	+0.0096%	1h	8.9412	+0.009%	$4.5M	$5.6M	15x	as long as short
Paradex UNI-USD-PERPlong	+0.0100%	8h	8.9404	long leg	$26K	—	20x
Aster UNIUSDT	+0.0100%	8h	8.9340	−0.071%	$736K	$3.6M	50x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica UNI	+0.0100%	1h	8.9420	+0.018%	$286K	$591K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	8.9277	−0.141%	$215.4M	$658.9M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	8.9260	−0.161%	$99.2M	$112.1M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	8.9180	−0.250%	$54.3M	$266.1M	50x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.9450	+0.052%	$319K	$703K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.9190	−0.239%	$25.0M	$66.5M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.9260	−0.161%	$49.1M	$26.5M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.9280	−0.138%	$13.1M	$13.4M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.9180	−0.250%	$32.6M	$45.5M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	8.9220	−0.205%	—	$6.5M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	8.9278	−0.141%	$1.1M	$2.4M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	8.8889	−0.575%	$4.1M	$4.3M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.8998	−0.454%	$168K	$346K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.8960	−0.496%	$628K	$2.7M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.9040	−0.407%	$89K	$710K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.9280	−0.138%	$15K	$3.5M	20x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.9320	−0.094%	$16K	$1.8M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.9328	−0.085%	$36K	$1.4M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.9270	−0.150%	$32K	$885K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.9376	−0.031%	$699K	$4.8M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.9340	−0.071%	$27.0M	$4.5M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	8.9229	−0.196%	$294K	$1.7M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.9280	−0.138%	$32K	—	3x	as long as short
dYdX UNI-USD	+0.0140%	1h	8.9365	−0.044%	$235K	$31K	10x	as long as short
Coinbase International UNI-PERP-INTX	+0.0192%	1h	8.9330	−0.082%	$930K	$5.5M	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.9280	−0.138%	$10.1M	$3.6M	75x	as long as short
Hyperliquid UNIshort	+0.0275%	1h	8.9294	−0.123%	$94.9M	$67.6M	10x
Reya UNIRUSDPERP	+0.0378%	1h	8.9348	−0.063%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0243%	1h	8.9068	−0.375%	$633K	—	120x	as long as short
Aftermath Perps UNIUSD	+0.0496%	1h	8.9236	−0.188%	$1K	$53K	10x	as long as short