UMA Funding Rate Arbitrage

Name: Funding Rate Arbitrage Yields Dataset
Creator: Yieldo
License: https://creativecommons.org/licenses/by/4.0/

Result from known costs: −1.38 USDT; UMA · long OKX UMA-USDT-SWAP · short MEXC UMA_USDT · 5,000 per leg · 30 days
UMA funding pairs across exchanges: 45

UMA funding pairs across exchanges

LIVE Updated Nov 12, 2026 02:25 UTC

Both legs of every pair use rates from the same moment. The spread is the hourly funding rate of the short leg minus the long leg; the annual figure is the hourly spread × 8760 at the rates shown. The result covers 30 days on 5,000 USDT per leg with the venues’ public taker fees; the order-book spread and slippage on execution are not included.

Long	Short	Spread per hour	Annual (hourly × 8760)	Status	Result for 30 days
OKX UMA-USDT-SWAP	MEXC UMA_USDT	+0.000156%/h	≈ +1.36% APR	from known costs	−1.38 USDT
OKX UMA-USDT-SWAP	Aster UMAUSDT	+0.000156%/h	≈ +1.36% APR	from known costs	−3.34 USDT
OKX UMA-USDT-SWAP	BingX UMA-USDT	+0.000156%/h	≈ +1.36% APR	from known costs	−4.29 USDT
OKX UMA-USDT-SWAP	Binance UMAUSDT	+0.000156%/h	≈ +1.36% APR	from known costs	−4.36 USDT
OKX UMA-USDT-SWAP	Bybit UMAUSDT	+0.000156%/h	≈ +1.36% APR	from known costs	−4.85 USDT
OKX UMA-USDT-SWAP	KuCoin UMAUSDTM	+0.000156%/h	≈ +1.36% APR	from known costs	−5.38 USDT
OKX UMA-USDT-SWAP	Bitget UMAUSDT	+0.000156%/h	≈ +1.36% APR	from known costs	−5.38 USDT
MEXC UMA_USDT	Aster UMAUSDT	0.000000%/h	≈ 0.00% APR	from known costs	−5.96 USDT
OKX UMA-USDT-SWAP	Gate.io UMA_USDT	+0.000156%/h	≈ +1.36% APR	from known costs	−6.86 USDT
MEXC UMA_USDT	BingX UMA-USDT	0.000000%/h	≈ 0.00% APR	from known costs	−6.91 USDT
MEXC UMA_USDT	Binance UMAUSDT	0.000000%/h	≈ 0.00% APR	from known costs	−6.98 USDT
MEXC UMA_USDT	Bybit UMAUSDT	0.000000%/h	≈ 0.00% APR	from known costs	−7.47 USDT
KuCoin UMAUSDTM	MEXC UMA_USDT	0.000000%/h	≈ 0.00% APR	from known costs	−8.00 USDT
Bitget UMAUSDT	MEXC UMA_USDT	0.000000%/h	≈ 0.00% APR	from known costs	−8.00 USDT
Aster UMAUSDT	BingX UMA-USDT	0.000000%/h	≈ 0.00% APR	from known costs	−8.94 USDT
Binance UMAUSDT	Aster UMAUSDT	0.000000%/h	≈ 0.00% APR	from known costs	−8.97 USDT
MEXC UMA_USDT	Gate.io UMA_USDT	0.000000%/h	≈ 0.00% APR	from known costs	−9.48 USDT
Bybit UMAUSDT	Aster UMAUSDT	0.000000%/h	≈ 0.00% APR	from known costs	−9.49 USDT
Binance UMAUSDT	BingX UMA-USDT	0.000000%/h	≈ 0.00% APR	from known costs	−9.92 USDT
KuCoin UMAUSDTM	Aster UMAUSDT	0.000000%/h	≈ 0.00% APR	from known costs	−9.96 USDT
Bitget UMAUSDT	Aster UMAUSDT	0.000000%/h	≈ 0.00% APR	from known costs	−9.96 USDT
Bybit UMAUSDT	BingX UMA-USDT	0.000000%/h	≈ 0.00% APR	from known costs	−10.43 USDT
Binance UMAUSDT	Bybit UMAUSDT	0.000000%/h	≈ 0.00% APR	from known costs	−10.48 USDT
KuCoin UMAUSDTM	BingX UMA-USDT	0.000000%/h	≈ 0.00% APR	from known costs	−10.90 USDT
Bitget UMAUSDT	BingX UMA-USDT	0.000000%/h	≈ 0.00% APR	from known costs	−10.90 USDT
Bitget UMAUSDT	Binance UMAUSDT	0.000000%/h	≈ 0.00% APR	from known costs	−10.98 USDT
KuCoin UMAUSDTM	Binance UMAUSDT	0.000000%/h	≈ 0.00% APR	from known costs	−10.98 USDT
KuCoin UMAUSDTM	Bybit UMAUSDT	0.000000%/h	≈ 0.00% APR	from known costs	−11.47 USDT
Bitget UMAUSDT	Bybit UMAUSDT	0.000000%/h	≈ 0.00% APR	from known costs	−11.47 USDT
Gate.io UMA_USDT	Aster UMAUSDT	0.000000%/h	≈ 0.00% APR	from known costs	−11.47 USDT
Bitget UMAUSDT	KuCoin UMAUSDTM	0.000000%/h	≈ 0.00% APR	from known costs	−12.00 USDT
Gate.io UMA_USDT	BingX UMA-USDT	0.000000%/h	≈ 0.00% APR	from known costs	−12.41 USDT
Gate.io UMA_USDT	Binance UMAUSDT	0.000000%/h	≈ 0.00% APR	from known costs	−12.50 USDT
Gate.io UMA_USDT	Bybit UMAUSDT	0.000000%/h	≈ 0.00% APR	from known costs	−12.98 USDT
KuCoin UMAUSDTM	Gate.io UMA_USDT	0.000000%/h	≈ 0.00% APR	from known costs	−13.48 USDT
Bitget UMAUSDT	Gate.io UMA_USDT	0.000000%/h	≈ 0.00% APR	from known costs	−13.48 USDT
Aster UMAUSDT	Hyperliquid UMA	0.000000%/h	≈ 0.00% APR	from known costs	—Execution costs (spread and slippage) are not estimated.
BingX UMA-USDT	Hyperliquid UMA	0.000000%/h	≈ 0.00% APR	from known costs	—Execution costs (spread and slippage) are not estimated.
Bitget UMAUSDT	Hyperliquid UMA	0.000000%/h	≈ 0.00% APR	from known costs	—Execution costs (spread and slippage) are not estimated.
Bybit UMAUSDT	Hyperliquid UMA	0.000000%/h	≈ 0.00% APR	from known costs	—Execution costs (spread and slippage) are not estimated.
Gate.io UMA_USDT	Hyperliquid UMA	0.000000%/h	≈ 0.00% APR	from known costs	—Execution costs (spread and slippage) are not estimated.
Hyperliquid UMA	KuCoin UMAUSDTM	0.000000%/h	≈ 0.00% APR	from known costs	—Execution costs (spread and slippage) are not estimated.
Hyperliquid UMA	MEXC UMA_USDT	0.000000%/h	≈ 0.00% APR	from known costs	—Execution costs (spread and slippage) are not estimated.
OKX UMA-USDT-SWAP	Hyperliquid UMA	+0.000156%/h	≈ +1.36% APR	from known costs	—Execution costs (spread and slippage) are not estimated.
Binance UMAUSDT	Hyperliquid UMA	0.000000%/h	≈ 0.00% APR	from known costs	—Execution costs (spread and slippage) are not estimated.

UMA: scenario for the top pair

UMA · long OKX UMA-USDT-SWAP · short MEXC UMA_USDT · 5,000 per leg · 30 days

Result from known costs

Some costs are unknown, so the total is incomplete. Missing:

Execution costs (spread and slippage) are not estimated.
The fee is a baseline value, not a verified fee of the venue or of your account.

Result from known costs

−1.38 USDT

30d

Rates

Rate spread per hour: +0.000156%/h
Spread, annualized: ≈ +1.36% APR

Instrument	Rate per period	Rate kind	Per hour	Annual (hourly × 8760)	Who pays	Next settlement
UMA-USDT-SWAP · OKX	+0.004377% per 4h	current, accruing	+0.001094%/h	≈ +9.59% APR	long pays	Nov 12, 2026 04:00 UTC from exchange data
UMA_USDT · MEXC	+0.005000% per 4h	current, accruing	+0.001250%/h	≈ +10.95% APR	short receives	Nov 12, 2026 04:00 UTC from exchange data

Annual = hourly rate × 8760 h — the rate shown, stretched over a year.

Costs and result

Funding over 30d: +5.62 USDT
Trading fee, OKX, entry: −2.50 USDT taker · 0.0500% · base fee, not your account’s verified fee
Trading fee, OKX, exit: −2.50 USDT taker · 0.0500% · base fee, not your account’s verified fee
Trading fee, MEXC, entry: −1.00 USDT taker · 0.0200% · venue public base fee
Trading fee, MEXC, exit: −1.00 USDT taker · 0.0200% · venue public base fee
Spread and slippage, OKX, entry: —Execution costs (spread and slippage) are not estimated.
Spread and slippage, OKX, exit: —Execution costs (spread and slippage) are not estimated.
Spread and slippage, MEXC, entry: —Execution costs (spread and slippage) are not estimated.
Spread and slippage, MEXC, exit: —Execution costs (spread and slippage) are not estimated.
Result from known costs: −1.38 USDT

Break-even

Calendar break-even: not within the period; at the same rates — Dec 19, 2026 12:00 UTC
Approximation: costs ÷ daily funding flow: ≈ 37.36 days
Funding spread to break even over 30d: 0.004666%/day

Break-even uses known costs only, so it is not the full break-even.

Rate history

Full history since: Sep 24, 2026 00:00 UTC
Payments in history: 576
History coverage: 53.33%

Window	Status	Mean spread (time-weighted)	Sum of settled rates	Share of positive periods	Sign changes	Payments · coverage	Reasons
24 h	from known costs	+0.002280%/h	—There is not enough rate history for this metric.	60.00%	0	10 · 83.33%	There is not enough rate history for this metric.
7 days	from known costs	+0.001408%/h	—There is not enough rate history for this metric.	83.33%	1	72 · 85.71%	There is not enough rate history for this metric.
30 days	from known costs	+0.000707%/h	—Rates are unknown for part of the period: the metric uses known values only.	65.52%	7	348 · 96.67%	Rates are unknown for part of the period: the metric uses known values only.; There is not enough rate history for this metric.
90 days	from known costs	+0.000707%/h	—There is not enough rate history for this metric.	60.42%	10	576 · 53.33%	There is not enough rate history for this metric.

The funding path is hypothetical: fixed size, no price changes, fees or liquidations.

Data and assumptions

OKX rate: Nov 12, 2026 02:20 UTC
MEXC rate: Nov 12, 2026 02:20 UTC
Valid until: Nov 12, 2026 02:40 UTC

MEXC: The venue does not document whether this is the current rate or a forecast: the kind is determined from its actual data.
MEXC: The interval unit is inferred from settlement history: the venue does not state it.
The pair’s rates come from the shared list update and were not rechecked separately.
A payment at the opening moment is outside the period; a payment at the closing moment is inside.
Quantity = notional ÷ the higher of the leg prices.
The price funding is calculated from does not change until the payment.
The current rate stays unchanged in repeats.
The funding interval does not change.
Capital is already on the venues: no entry transfer; return and rebalancing are not included.
The exit price equals the current price: exit notional and fee are as of now.
Margin equals the leg notional (1× leverage).
Reserve on the venue is 0.
Margin equals the leg notional (1× leverage).
Reserve on the venue is 0.

Open long UMA-USDT-SWAP on OKX Open short UMA_USDT on MEXC

Each button opens one leg of this calculation on its venue.

Change size, venues or fees in the calculator →

UMA pairs over the last 7 days

Past days, not current opportunities. Days and times are UTC.

Last usable pair: Nov 12, 2026 02:25 UTC, long OKX UMA-USDT-SWAP / short MEXC UMA_USDT, +0.000156%/h.

Day	Updates with a pair	Most pairs at once	Widest spread	Pair
Nov 12, 2026	15	45	+0.012935%/h	long Bybit UMAUSDT / short MEXC UMA_USDT
Nov 11, 2026	144	45	+0.016671%/h	long OKX UMA-USDT-SWAP / short MEXC UMA_USDT
Nov 10, 2026	144	45	+0.074698%/h	long Bybit UMAUSDT / short MEXC UMA_USDT
Nov 9, 2026	144	45	+0.017531%/h	long OKX UMA-USDT-SWAP / short Bybit UMAUSDT
Nov 8, 2026	144	45	+0.028246%/h	long Bybit UMAUSDT / short BingX UMA-USDT
Nov 7, 2026	144	45	+0.077409%/h	long MEXC UMA_USDT / short Bybit UMAUSDT
Nov 6, 2026	144	45	+0.016315%/h	long Aster UMAUSDT / short Bybit UMAUSDT

How funding rate arbitrage works

A perpetual futures contract pays a periodic funding rate between longs and shorts. When two exchanges show different funding rates for the same coin, you can go long where funding is low (or negative) and short where it is high — staying delta-neutral on price while collecting the funding spread. Yieldo scans live rates across all supported exchanges and ranks the best long/short pairs after fees.

UMA funding rates by exchange →

UMA FAQ

What is funding rate arbitrage?

It is a delta-neutral strategy: you open a long position where the perpetual funding rate is low or negative and a short of the same size where funding is high. Price moves cancel out, and you collect the difference in funding payments.

Is UMA funding arbitrage risk-free?

No. It is market-neutral, not risk-free. Funding rates can flip before the next payment, both legs require margin (liquidation risk), and exchange or transfer issues can break the hedge. Treat the annualized yield as indicative, not guaranteed.

How is the annualized yield calculated?

We take the current funding-rate spread between the two exchanges and annualize it by the number of funding intervals per year for each contract. Actual returns depend on how long the spread persists.