Funding arb · Price arb /

UNI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: KuCoin against Phemex+0.034%7-day average −0.030% · you sell dearer than you buy

Net, funding: paid 7d − costs−$80as in the Funding arb table

Net, price: spread back to 7d avg − costs−$71as in the Price arb table

costs, in and out, $10k−$780.779% of the position

Long on Phemex Short on KuCoin

What this pair did over the last

the charts below follow

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

Price spread, last 4 days (all we have)−0.253%−$25 · spread now +0.034%, 7d avg −0.030%

Together, before fees−0.273%−$27 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: KuCoin is 0.064% dearer against Phemex than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.030%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex UNIUSDT	8.9130	0.0100	pay 0.0100% / 8h	2h 48m	$27.0M	$4.3M	50x
Short	KuCoin UNIUSDTM	8.9160	0.0100	get 0.0100% / 8h	2h 48m	$13.3M	$13.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Phemex. 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 PhemexbpFee KuCoinbpOrdersPrice spread, now +0.034%Rate

Funding earned: $0
Price spread: +0.034% → −0.030%: $6.39
Slippage, 4 orders: −$53.87
Fee Phemex: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$71.48
Costs to cover: 0.779%
Break-even: never at this rate

Slippage from Phemex: live order book, 6 min ago; KuCoin: 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 Phemex live order book, 6 min ago	1.13 bp	26.1 bp −$26	38.7 bp −$387	doesn't fit	doesn't fit
Sell KuCoin live order book, 6 min ago	2.25 bp	23.7 bp −$24	31.4 bp −$314	73.1 bp −$7,306	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-PERP	−0.0210%	1h	8.9080	−0.056%	$794K	$4.7M	10x	as long as short
01 Exchange UNIUSD	−0.0088%	1h	8.9132	+0.002%	$445	$5	10x	as long as short
Kraken Futures PF_UNIUSD	−0.0017%	1h	8.9154	+0.027%	$4.8M	$8.4M	50x	as long as short
dYdX UNI-USD	0.0000%	1h	8.9087	−0.048%	$235K	$31K	10x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0007%	1h	8.9178	+0.054%	$49K	—	150x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0018%	1h	8.9210	+0.090%	$572K	$208K	50x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−0.931%	$660	$153K	12x	as long as short
Lighter UNI	+0.0096%	1h	8.9267	+0.154%	$4.5M	$5.4M	15x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.9099	−0.035%	$25K	—	20x	as long as short
Hyperliquid UNI	+0.0100%	1h	8.9210	+0.090%	$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	8.9134	+0.004%	$757K	$3.6M	50x	as long as short
Pacifica UNI	+0.0100%	1h	8.9120	−0.011%	$285K	$612K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	8.9065	−0.073%	$216.6M	$657.9M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	8.9030	−0.112%	$99.6M	$112.6M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	8.9010	−0.135%	$53.9M	$263.6M	50x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.9210	+0.090%	$332K	$684K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.9130	0.000%	$23.6M	$64.5M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.9090	−0.045%	$46.9M	$26.3M	200x	as long as short
KuCoin UNIUSDTMshort	+0.0100%	8h	8.9160	+0.034%	$13.3M	$13.4M	75x
Bitget UNIUSDT	+0.0100%	8h	8.9040	−0.101%	$32.8M	$46.5M	75x	as long as short
BingX UNI-USDT	+0.0100%	8h	8.9060	−0.079%	—	$57.0M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	8.9177	+0.053%	$1.0M	$2.4M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	8.9009	−0.135%	$4.1M	$4.2M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.8705	−0.477%	$168K	$345K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.9060	−0.079%	$621K	$2.8M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.9030	−0.112%	$91K	$704K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.9100	−0.034%	$15K	$3.4M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.9106	−0.027%	$99K	$498K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.9170	+0.045%	$16K	$1.6M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.9195	+0.073%	$36K	$1.4M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.9130	0.000%	$25K	$850K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.9188	+0.065%	$711K	$5.0M	75x	as long as short
Phemex UNIUSDTlong	+0.0100%	8h	8.9130	long leg	$27.0M	$4.3M	50x
Extended UNI-USD	+0.0104%	1h	8.9106	−0.027%	$295K	$1.7M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.9151	+0.023%	$32K	—	3x	as long as short
Coinbase International UNI-PERP-INTX	+0.0184%	1h	8.9150	+0.022%	$932K	$5.8M	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.9090	−0.045%	$10.0M	$3.6M	75x	as long as short
Reya UNIRUSDPERP	+0.0376%	1h	8.9112	−0.020%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0244%	1h	8.9176	+0.052%	$634K	—	120x	as long as short
Aftermath Perps UNIUSD	+0.0655%	1h	8.8953	−0.199%	$957	$45K	10x	as long as short