ArbiLayer

UMA arbitrage

live

Live UMA price differences between exchanges: perpetual, spot and DEX spreads after fees, with funding and depth.

Best net spread-0.04%Gate → Variational · Perp–Perp
Best perp–perp spread+0.12%Gate → Variational
Markets tracked1610 venues · 10 perp · 6 spot · 0 DEX
Price range0.28%$0.4041 – $0.4052

Spreads between exchanges

Long (buy)Short (sell)SpreadNetSpread+FDepth $Funding 24hFunding 30DD/WChart
Bybit logoBybitspot$0.4046MEXC logoMEXCspot$0.405 +0.10%-0.10% +0.10%— 0.000%— LS Chart →
Binance logoBinancespot$0.405MEXC logoMEXCspot$0.405 0.00%-0.20% 0.00%— 0.000%— LS Chart →
OKX logoOKXspot$0.405MEXC logoMEXCspot$0.405 0.00%-0.20% 0.00%— 0.000%— LS Chart →
Bybit logoBybitspot$0.4046OKX logoOKXspot$0.4045 -0.02%-0.22% -0.02%— 0.000%— LS Chart →
Bybit logoBybitspot$0.4046Gate logoGatespot$0.4043 -0.07%-0.27% -0.07%— 0.000%— LS Chart →
Gate logoGatespot$0.4055MEXC logoMEXCspot$0.405 -0.12%-0.32% -0.12%— 0.000%— LS Chart →
Binance logoBinancespot$0.405OKX logoOKXspot$0.4045 -0.12%-0.32% -0.12%— 0.000%— LS Chart →
MEXC logoMEXCspot$0.4051OKX logoOKXspot$0.4045 -0.15%-0.35% -0.15%— 0.000%— LS Chart →
Bybit logoBybitspot$0.4046Binance logoBinancespot$0.404 -0.15%-0.35% -0.15%— 0.000%— LS Chart →
Bybit logoBybitspot$0.4046KuCoin logoKuCoinspot$0.404 -0.15%-0.35% -0.15%— 0.000%— LS Chart →
Binance logoBinancespot$0.405Bybit logoBybitspot$0.4043 -0.17%-0.37% -0.17%— 0.000%— LS Chart →
Binance logoBinancespot$0.405Gate logoGatespot$0.4043 -0.17%-0.37% -0.17%— 0.000%— LS Chart →
OKX logoOKXspot$0.405Bybit logoBybitspot$0.4043 -0.17%-0.37% -0.17%— 0.000%— LS Chart →
OKX logoOKXspot$0.405Gate logoGatespot$0.4043 -0.17%-0.37% -0.17%— 0.000%— LS Chart →
MEXC logoMEXCspot$0.4051Bybit logoBybitspot$0.4043 -0.20%-0.40% -0.20%— 0.000%— LS Chart →
Long = where you buy, Short = where you sell. Net subtracts a two-leg taker fee model; Spread+F adds the next funding payment.Updates every 15 seconds. Not investment advice.

UMA price on every exchange

ExchangeMarketBidAskPricevs medianFunding 24hVolume 24h
Bybit logoBybitPerpetual · UMAUSDTPerpetual $0.4042$0.4044$0.4043-0.02% +0.030%$2.61M
OKX logoOKXPerpetual · UMA-USDT-SWAPPerpetual $0.4043$0.4045$0.40440.00% -0.058%$1.92M
Bitget logoBitgetPerpetual · UMAUSDTPerpetual $0.4039$0.4042$0.4041-0.09% -0.068%$1.02M
Gate logoGatePerpetual · UMA_USDTPerpetual $0.404$0.4041$0.4041-0.09% +0.030%$663.1K
OKX logoOKXSpot · UMA-USDTSpot $0.4045$0.405$0.4048+0.09% —$544.9K
KuCoin logoKuCoinPerpetual · UMAUSDTMPerpetual $0.4037$0.4044$0.4041-0.09% +0.007%$510.2K
Bybit logoBybitSpot · UMAUSDTSpot $0.4043$0.4046$0.4045+0.01% —$357.0K
Hyperliquid logoHyperliquidPerpetual · UMAPerpetual $0.4037$0.405$0.4044-0.01% +0.030%$233.2K
MEXC logoMEXCPerpetual · UMA_USDTPerpetual $0.4041$0.4042$0.4042-0.06% -0.049%$213.3K
KuCoin logoKuCoinSpot · UMA-USDTSpot $0.404$0.406$0.405+0.15% —$112.2K
Gate logoGateSpot · UMA_USDTSpot $0.4043$0.4055$0.4049+0.12% —$36.4K
Variational logoVariationalPerpetual · UMAPerpetual $0.4046$0.4058$0.4052+0.20% +0.030%$20.8K
Binance logoBinancePerpetual · UMAUSDTPerpetual $0.404$0.4042$0.4041-0.07% -0.049%—
Aster logoAsterPerpetual · UMAUSDTPerpetual $0.4042$0.4046$0.40440.00% -0.130%—
Binance logoBinanceSpot · UMAUSDTSpot $0.404$0.405$0.4045+0.02% ——
MEXC logoMEXCSpot · UMAUSDTSpot $0.405$0.4051$0.4051+0.16% ——
Price is the bid/ask midpoint. "vs median" compares each market with the median of all centralized venues.

UMA arbitrage explained

Right now UMA trades on 10 venues we scan: 10 perpetual markets, 6 spot markets and 0 DEX pools. The lowest ask is on Gate perp at $0.4041 and the highest bid on MEXC spot at $0.405.

The widest UMA perpetual spread is between Gate and Variational: long UMA on Gate at $0.4041 and short on Variational at $0.4046 for +0.12% gross, or -0.04% after the 0.16% two-leg fee model. No transfer is needed: both positions stay on their exchanges until the prices converge. The funding difference on this pair is -0.000% per day, which the position pays while it is open.

For a spot–perpetual (cash-and-carry) trade, the best UMA route is to buy spot on Bybit and short the perpetual on Variational: 0.00% gross, -0.20% net, with +0.030% a day of funding on the short leg.

Spot–spot UMA arbitrage (buy on Bybit, withdraw, deposit and sell on MEXC) shows +0.10% gross right now. It only works if withdrawals on the buying exchange and deposits on the selling exchange are open, so check the D/W dots before moving coins.

Small UMA gaps usually disappear after fees, slippage and funding. Look at the Net column, the executable Depth and the spread history before trading: a gap that has been open for days is a different trade from a one-minute spike.

Related: UMA funding rates · UMA spread charts · UMA price · arbitrage scanner for all coins.

Is there a UMA arbitrage opportunity right now?

The best UMA route right now is to buy on Gate → sell on Variational (Perp–Perp): +0.12% gross and -0.04% after fees. After fees it is not profitable, which is normal for liquid coins.

Which exchange has the cheapest UMA?

Gate (perp) has the lowest UMA ask at $0.4041, and MEXC (spot) the highest bid at $0.405. Prices update every 15 seconds on this page.

How many exchanges list UMA?

ArbiLayer tracks 16 UMA markets on 10 venues: 10 perpetual, 6 spot and 0 DEX pools.

How do I arbitrage UMA without transferring coins?

Use two perpetual contracts: go long UMA on the cheaper exchange (Gate now) and short it on the more expensive one (Variational), then close both legs when the spread converges. The coins never move between exchanges.

Arbitrage for other coins

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