Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.1573%/8h= +172.3% APRpaid last 24h +0.177%

Price spread now: BloFin against Aevo+0.234%113s7-day average — · you sell dearer than you buy

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

Long on Aevo Short on BloFin

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

Both sides work for this trade now. Funding pays +$47 a day on $10k at the current rate, and BloFin is 0.234% dearer against Aevo than usual: you sell high and buy low: +$23 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 113 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	0.2729	0.0200	pay 0.0025% / 1h	11m 17s	$10K	—	3x
Short	BloFin USELESS-USDT	0.2735	0.1773	get 0.0887% / 4h	1h 11m	$1.2M	$1.9M	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.234%Rate

Funding earned: $330.37
Price spread: +0.234% → 0.000%: $23.38
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee BloFin: 6 bp × 2 orders: −$12
Net: $325.75
Costs to cover: 0.280%
Break-even: 0.1 days

Slippage unknown: Aevo: no order-book sample; BloFin: live order book, 2 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 BloFin live order book, 2 min ago	3.11 bp	17.6 bp −$18	34.9 bp −$349	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	0.2728	−0.023%	$1.3M	$1.1M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2728	−0.020%	$30K	$70K	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0100%	4h	0.2724	−0.158%	$9.5M	$63.1M	10x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2723	−0.217%	$26K	$147K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2725	−0.151%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2731	+0.091%	$18K	$489K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2727	−0.067%	$559K	$1.2M	20x	as long as short
ApeX Omni USELESSUSDT	+0.0197%	1h	0.2729	+0.010%	$38K	$700K	25x	as long as short
Aevo USELESS-PERPlong	+0.0200%	1h	0.2729	long leg	$10K	—	3x
KuCoin USELESSUSDTM	+0.0330%	4h	0.2723	−0.191%	$5.1M	$9.9M	12x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate USELESS_USDT	+0.0332%	4h	0.2724	−0.169%	$6.8M	$8.1M	50x	as long as short
Bitget USELESSUSDT	+0.0470%	4h	0.2724	−0.188%	$5.2M	$9.1M	20x	as long as short
edgeX USELESSUSDC	+0.0474%	4h	0.2735	+0.246%	$20K	$190K	10x	as long as short
Binance USELESSUSDT	+0.0485%	4h	0.2725	−0.142%	$23.0M	$114.1M	50x	as long as short
MEXC USELESS_USDT	+0.0486%	4h	0.2725	−0.151%	$9.9M	$5.9M	50x	as long as short
Extended USELESS-USD	+0.0488%	1h	0.2724	−0.162%	$287K	$966K	5x	as long as short
Hyperliquid USELESS	+0.0838%	1h	0.2725	−0.140%	$13.3M	$20.6M	3x	as long as short
Aster USELESSUSDT	+0.1103%	4h	0.2727	−0.048%	$638K	$2.2M	10x	as long as short
Orderly PERP_USELESS_USDC	+0.1286%	4h	0.2727	−0.070%	$21K	$1.4M	10x	as long as short
BingX USELESS-USDT	+0.1296%	4h	0.2725	−0.125%	—	$5.0M	—	as long as short
Bybit USELESSUSDT	+0.1333%	4h	0.2725	−0.136%	$27.3M	$44.7M	13x	as long as short
Variational Omni USELESS	+0.1492%	4h	0.2726	−0.118%	$1.1M	$1.8M	—	as long as short
BloFin USELESS-USDTshort	+0.1773%	4h	0.2735	+0.234%	$1.2M	$1.9M	12x
Injective USELESS/USDC PERP	+0.5000%	1h	0.2894	+6.072%	$5K	$9K	5.5x	as long as short