Funding arb · Price arb /

UNI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0256%/8hnext payment −$0.32 per $10,000 · paid last 24h −0.066%

Price spread now: Backpack against Reya+0.096%7-day average — · you sell dearer than you buy

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

Long on Reya Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

The price spread pays, funding is against you. Backpack is 0.096% dearer against Reya than usual: you sell high and buy low (spread +0.096% now, against zero (this spread has no 7-day history yet)): +$10 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 30 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya UNIRUSDPERP	8.8056	0.0356	pay 0.0045% / 1h	6m 56s	$16K	—	20x
Short	Backpack UNI_USDC_PERP	8.8140	0.0100	get 0.0013% / 1h	6m 56s	$982K	$2.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Reya. 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 ReyabpFee BackpackbpOrdersPrice spread, now +0.096%Rate

Funding earned: −$53.84
Price spread: +0.096% → 0.000%: $9.57
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$60.27
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Backpack: live order book, 2 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 Reya no order-book sample	—	—	—	—	—
Sell Backpack live order book, 2 min ago	0.06 bp	8.1 bp −$8	91.6 bp −$916	doesn't fit	doesn't fit

Reya: 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
Bybit UNIUSDT	−0.0214%	8h	8.8080	+0.028%	$102.3M	$105.0M	75x	as long as short
Variational Omni UNI	−0.0208%	8h	8.7835	−0.251%	$3.8M	$5.1M	—	as long as short
OKX UNI-USDT-SWAP	−0.0007%	8h	8.8100	+0.050%	$54.7M	$247.6M	50x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0004%	1h	8.8105	+0.056%	$61K	—	150x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.7992	−0.073%	$25K	—	20x	as long as short
Nado UNI-PERP	+0.0100%	1h	8.8045	−0.012%	$825K	$3.9M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.8200	+0.164%	$1.1M	$3.3M	50x	as long as short
Pacifica UNI	+0.0100%	1h	8.8020	−0.041%	$296K	$566K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	8.8140	+0.096%	$216.7M	$595.2M	75x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.8100	+0.050%	$271K	$595K	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	8.8120	+0.073%	$22.7M	$59.8M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.8120	+0.073%	$42.4M	$24.6M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.8100	+0.050%	$13.5M	$13.5M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.8090	+0.039%	$31.8M	$41.0M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	8.8120	+0.073%	—	$6.5M	—	as long as short
Backpack UNI_USDC_PERPshort	+0.0100%	1h	8.8140	+0.096%	$982K	$2.4M	10x
edgeX UNIUSDC	+0.0100%	4h	8.7946	−0.125%	$165K	$342K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.7941	−0.130%	$611K	$2.6M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.7990	−0.075%	$83K	$727K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.8000	−0.063%	$85K	$3.2M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.8089	+0.038%	$87K	$323K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.8060	+0.005%	$15K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.8133	+0.088%	$36K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.8103	+0.054%	$25K	$650K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.8186	+0.148%	$708K	$4.2M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.8110	+0.062%	$26.5M	$4.2M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	8.8078	+0.026%	$307K	$1.4M	25x	as long as short
01 Exchange UNIUSD	+0.0104%	1h	8.8122	+0.075%	$440	—	10x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.8114	+0.067%	$31K	$1K	3x	as long as short
dYdX UNI-USD	+0.0130%	1h	8.8026	−0.034%	$244K	$5K	10x	as long as short
Kraken Futures PF_UNIUSD	+0.0166%	1h	8.8163	+0.122%	$5.0M	$7.7M	50x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0192%	1h	8.8141	+0.097%	$547K	$126K	50x	as long as short
Coinbase International UNI-PERP-INTX	+0.0200%	1h	8.7940	−0.131%	$1.0M	$5.4M	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.8060	+0.005%	$9.9M	$3.3M	75x	as long as short
Hyperliquid UNI	+0.0280%	1h	8.8219	+0.185%	$95.9M	$60.3M	10x	as long as short
Reya UNIRUSDPERPlong	+0.0356%	1h	8.8056	long leg	$16K	—	20x
GMX UNI/USD [UNI-USDC]	L +0.0382% / S −0.0324%	1h	8.8101	+0.052%	$550K	—	120x	as long as short
Aftermath Perps UNIUSD	+0.0563%	1h	8.8049	−0.008%	$1K	$52K	10x	as long as short
Lighter UNI	+0.0704%	1h	8.8277	+0.251%	$4.5M	$5.3M	15x	as long as short
Injective UNI/USDC PERP	+0.5000%	1h	9.3200	+5.842%	$16K	$89K	12x	as long as short