Funding arb · Price arb /

USELESS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0496%/8h= +54.3% APRpaid last 24h +0.203%

Price spread now: Aster against Aevo−0.453%49s7-day average — · you buy dearer than you sell

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

Long on Aevo Short on Aster

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Funding pays, the price is against you. Aster is 0.453% cheaper against Aevo than usual: you would sell low and buy high (spread −0.453% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$45 on $10k: about 3.0 days of funding at the current rate (+$15 a day). The two prices were read 49 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo USELESS-PERP	0.2561	0.0224	pay 0.0028% / 1h	55m 36s	$9K	—	3x
Short	Aster USELESSUSDT	0.2549	0.0720	get 0.0360% / 4h	55m 36s	$505K	$2.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Aevo. 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 AevobpFee AsterbpOrdersPrice spread, now −0.453%Rate

Funding earned: $104.13
Price spread: −0.453% → 0.000%: −$45.34
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Aster: 4 bp × 2 orders: −$8
Net: $34.8
Costs to cover: 0.240%
Break-even: 4.7 days

Slippage unknown: Aevo: no order-book sample; Aster: live order book, 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 Aevo no order-book sample	—	—	—	—	—
Sell Aster live order book, 3 min ago	18.09 bp	53.3 bp −$53	176.0 bp −$1,760	doesn't fit	doesn't fit

Aevo: 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.

USELESS on 24 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
Lighter USELESS	+0.0096%	1h	0.2550	−0.438%	$1.2M	$1.2M	3x	as long as short
Hyperliquid USELESS	+0.0100%	1h	0.2552	−0.371%	$11.6M	$22.6M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2550	−0.427%	$28K	$70K	3x	as long as short
Gate USELESS_USDT	+0.0100%	4h	0.2549	−0.481%	$6.4M	$8.6M	50x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2555	−0.223%	$36K	$219K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2563	+0.070%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2564	+0.113%	$17K	$517K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2555	−0.215%	$560K	$1.1M	20x	as long as short
ApeX Omni USELESSUSDT	+0.0161%	1h	0.2551	−0.391%	$33K	$698K	25x	as long as short
OKX USELESS-USDT-SWAP	+0.0219%	4h	0.2551	−0.387%	$8.9M	$62.4M	10x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo USELESS-PERPlong	+0.0224%	1h	0.2561	long leg	$9K	—	3x
KuCoin USELESSUSDTM	+0.0246%	4h	0.2549	−0.473%	$4.6M	$10.6M	12x	as long as short
Bitget USELESSUSDT	+0.0482%	4h	0.2548	−0.516%	$4.9M	$10.4M	20x	as long as short
edgeX USELESSUSDC	+0.0546%	4h	0.2552	−0.366%	$19K	$195K	10x	as long as short
MEXC USELESS_USDT	+0.0550%	4h	0.2549	−0.481%	$10.2M	$6.2M	50x	as long as short
Binance USELESSUSDT	+0.0550%	4h	0.2543	−0.696%	$21.2M	$122.7M	50x	as long as short
Extended USELESS-USD	+0.0552%	1h	0.2548	−0.493%	$112K	$1.2M	5x	as long as short
Aster USELESSUSDTshort	+0.0720%	4h	0.2549	−0.453%	$505K	$2.4M	10x
BingX USELESS-USDT	+0.0764%	4h	0.2552	−0.336%	—	$5.3M	—	as long as short
Bybit USELESSUSDT	+0.0790%	4h	0.2550	−0.449%	$24.5M	$48.6M	13x	as long as short
Variational Omni USELESS	+0.0899%	4h	0.2557	−0.159%	$1.0M	$1.8M	—	as long as short
BloFin USELESS-USDT	+0.1045%	4h	0.2548	−0.504%	$1.1M	$1.9M	12x	as long as short
Orderly PERP_USELESS_USDC	+0.1353%	4h	0.2560	−0.039%	$19K	$1.3M	10x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2695	+5.220%	$5K	$11K	5.5x	as long as short