Funding arb · Price arb /

UNI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0266%/8h= −29.1% APRpaid last 24h −0.102%

Price spread now: Variational Omni against Reya+0.041%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 Variational Omni

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 · Variational Omni: Active · farm boardneeds both histories

The price spread pays, funding is against you. Variational Omni is 0.041% dearer against Reya than usual: you sell high and buy low (spread +0.041% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 12 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya UNIRUSDPERP	9.1973	0.0366	pay 0.0046% / 1h	30m 51s	$17K	—	20x
Short	Variational Omni UNI	9.2011	0.0100	get 0.0100% / 8h	7h 30m	$4.2M	$4.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.041%Rate

Funding earned: −$55.85
Price spread: +0.041% → 0.000%: $4.11
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$57.74
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Variational Omni: RFQ quote, 3 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 Variational Omni RFQ quote, 3 min ago	3.25 bp	doesn't fit	14.3 bp −$143	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
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0005%	1h	9.2063	+0.097%	$46K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−3.994%	$660	$154K	12x	as long as short
01 Exchange UNIUSD	+0.0072%	1h	9.2163	+0.207%	$460	—	10x	as long as short
Nado UNI-PERP	+0.0100%	1h	9.1975	+0.002%	$968K	$4.3M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	9.2172	+0.216%	$1.1M	$3.4M	50x	as long as short
Pacifica UNI	+0.0100%	1h	9.1960	−0.014%	$309K	$583K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	9.2185	+0.230%	$230.9M	$595.3M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	9.2240	+0.290%	$104.1M	$106.8M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	9.2240	+0.290%	$56.7M	$257.9M	50x	as long as short
Arcus UNI-USD	+0.0100%	1h	9.2170	+0.214%	$274K	$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	9.2150	+0.192%	$23.3M	$58.9M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	9.2170	+0.214%	$45.3M	$23.9M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	9.2110	+0.149%	$13.9M	$13.5M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	9.2170	+0.214%	$33.9M	$42.2M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	9.2200	+0.247%	—	$6.5M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	9.2089	+0.126%	$1.0M	$2.4M	10x	as long as short
Variational Omni UNIshort	+0.0100%	8h	9.2011	+0.041%	$4.2M	$4.4M	—
edgeX UNIUSDC	+0.0100%	4h	9.1283	−0.750%	$172K	$344K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	9.1100	−0.949%	$644K	$2.6M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	9.1340	−0.688%	$89K	$708K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	9.1560	−0.449%	$36K	$3.3M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	9.2040	+0.073%	$86K	$374K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	9.2070	+0.106%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	9.2130	+0.171%	$37K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	9.2067	+0.102%	$22K	$714K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	9.2200	+0.247%	$731K	$4.4M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	9.2090	+0.127%	$27.8M	$4.5M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	9.2038	+0.071%	$26K	—	20x	as long as short
Extended UNI-USD	+0.0104%	1h	9.2156	+0.199%	$306K	$1.5M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	9.2080	+0.117%	$33K	—	3x	as long as short
dYdX UNI-USD	+0.0129%	1h	9.1925	−0.052%	$253K	$8K	10x	as long as short
BloFin UNI-USDT	+0.0220%	8h	9.2130	+0.171%	$10.3M	$3.6M	75x	as long as short
Coinbase International UNI-PERP-INTX	+0.0272%	1h	9.2160	+0.203%	$1.1M	$4.9M	50x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0293%	1h	9.2125	+0.165%	$594K	$178K	50x	as long as short
Reya UNIRUSDPERPlong	+0.0366%	1h	9.1973	long leg	$17K	—	20x
Kraken Futures PF_UNIUSD	+0.0381%	1h	9.2152	+0.195%	$5.1M	$7.0M	50x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0382% / S −0.0323%	1h	9.2062	+0.097%	$583K	—	120x	as long as short
Hyperliquid UNI	+0.0516%	1h	9.2193	+0.239%	$101.5M	$60.2M	10x	as long as short
Aftermath Perps UNIUSD	+0.0930%	1h	9.1672	−0.327%	$951	$49K	10x	as long as short
Lighter UNI	+0.0952%	1h	9.2269	+0.322%	$4.7M	$5.3M	15x	as long as short