Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0338%/8h= +37.0% APRpaid last 24h +0.084%

Price spread now: Binance against Aevo−0.125%7-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 Binance

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—needs both histories

Funding pays, the price is against you. Binance is 0.125% cheaper against Aevo than usual: you would sell low and buy high (spread −0.125% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$12 on $10k: about 30 hours of funding at the current rate (+$10 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo USELESS-PERP	0.2802	0.0216	pay 0.0027% / 1h	9m 15s	$10K	—	3x
Short	Binance USELESSUSDT	0.2799	0.0554	get 0.0277% / 4h	2h 09m	$23.7M	$117.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.125%Rate

Funding earned: $70.88
Price spread: −0.125% → 0.000%: −$12.49
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Binance: 5 bp × 2 orders: −$10
Net: $32.39
Costs to cover: 0.260%
Break-even: 3.8 days

Slippage unknown: Aevo: no order-book sample; Binance: live order book, 4 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 Binance live order book, 4 min ago	0.35 bp	21.0 bp −$21	77.0 bp −$770	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 23 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	0.2801	−0.068%	$1.3M	$1.2M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2803	+0.015%	$31K	$70K	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0100%	4h	0.2801	−0.054%	$9.9M	$65.8M	10x	as long as short
Gate USELESS_USDT	+0.0100%	4h	0.2799	−0.114%	$7.0M	$8.4M	50x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2810	+0.268%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2799	−0.132%	$18K	$502K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2797	−0.196%	$604K	$1.2M	20x	as long as short
KuCoin USELESSUSDTM	+0.0136%	4h	0.2795	−0.260%	$5.2M	$10.4M	12x	as long as short
Aevo USELESS-PERPlong	+0.0216%	1h	0.2802	long leg	$10K	—	3x
Polymarket Perps USELESS-USD	+0.0415%	1h	0.2802	−0.014%	$28K	$202K	3x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX USELESSUSDC	+0.0543%	4h	0.2813	+0.384%	$21K	$194K	10x	as long as short
Extended USELESS-USD	+0.0552%	1h	0.2801	−0.038%	$300K	$1.1M	5x	as long as short
MEXC USELESS_USDT	+0.0552%	4h	0.2800	−0.086%	$10.9M	$6.0M	50x	as long as short
Binance USELESSUSDTshort	+0.0554%	4h	0.2799	−0.125%	$23.7M	$117.0M	50x
Bitget USELESSUSDT	+0.0580%	4h	0.2797	−0.200%	$5.4M	$9.8M	20x	as long as short
BingX USELESS-USDT	+0.0738%	4h	0.2802	−0.021%	—	$5.1M	—	as long as short
Bybit USELESSUSDT	+0.0739%	4h	0.2798	−0.146%	$27.2M	$46.3M	13x	as long as short
ApeX Omni USELESSUSDT	+0.0776%	1h	0.2814	+0.410%	$39K	$699K	25x	as long as short
Variational Omni USELESS	+0.0901%	4h	0.2816	+0.480%	$1.2M	$1.7M	—	as long as short
Aster USELESSUSDT	+0.1079%	4h	0.2799	−0.111%	$623K	$2.3M	10x	as long as short
Hyperliquid USELESS	+0.1278%	1h	0.2803	+0.018%	$14.0M	$20.7M	3x	as long as short
Orderly PERP_USELESS_USDC	+0.1306%	4h	0.2803	+0.011%	$22K	$1.3M	10x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2989	+6.637%	$5K	$9K	5.5x	as long as short