Funding arb · Price arb /

USELESS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0453%/8h= +49.6% APRpaid last 24h +0.086%

Price spread now: edgeX against Aevo−0.102%72s7-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 edgeX

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 airdropedgeX: Active · farm boardneeds both histories

Funding pays, the price is against you. edgeX is 0.102% cheaper against Aevo than usual: you would sell low and buy high (spread −0.102% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$10 on $10k: about 18 hours of funding at the current rate (+$14 a day). The two prices were read 72 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	0.2897	0.0240	pay 0.0030% / 1h	50m 10s	$10K	—	3x
Short	edgeX USELESSUSDC	0.2894	0.0693	get 0.0346% / 4h	2h 50m	$22K	$189K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.102%Rate

Funding earned: $95.08
Price spread: −0.102% → 0.000%: −$10.17
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $59.9
Costs to cover: 0.250%
Break-even: 2.6 days

Slippage unknown: Aevo: no order-book sample; edgeX: live order book, 36 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 edgeX live order book, 36 min ago	1.51 bp	172.9 bp −$173	doesn't fit	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	0.2896	−0.010%	$1.3M	$1.1M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2890	−0.238%	$32K	$70K	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0100%	4h	0.2899	+0.079%	$10.3M	$65.0M	10x	as long as short
ApeX Omni USELESSUSDT	+0.0100%	1h	0.2894	−0.093%	$41K	$697K	25x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2900	+0.100%	$28K	$135K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2900	+0.124%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2894	−0.093%	$20K	$376K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2895	−0.059%	$575K	$1.3M	20x	as long as short
KuCoin USELESSUSDTM	+0.0138%	4h	0.2900	+0.100%	$5.4M	$9.6M	12x	as long as short
Gate USELESS_USDT	+0.0194%	4h	0.2892	−0.169%	$7.2M	$7.7M	50x	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	+0.0240%	1h	0.2897	long leg	$10K	—	3x
Bitget USELESSUSDT	+0.0572%	4h	0.2898	+0.062%	$5.5M	$8.8M	20x	as long as short
Binance USELESSUSDT	+0.0661%	4h	0.2900	+0.114%	$25.1M	$109.5M	50x	as long as short
Extended USELESS-USD	+0.0664%	1h	0.2899	+0.076%	$305K	$967K	5x	as long as short
MEXC USELESS_USDT	+0.0670%	4h	0.2898	+0.062%	$21.3M	$5.8M	50x	as long as short
edgeX USELESSUSDCshort	+0.0693%	4h	0.2894	−0.102%	$22K	$189K	10x
Orderly PERP_USELESS_USDC	+0.1117%	4h	0.2899	+0.086%	$22K	$1.4M	10x	as long as short
Variational Omni USELESS	+0.1192%	4h	0.2881	−0.545%	$1.1M	$1.7M	—	as long as short
Aster USELESSUSDT	+0.1292%	4h	0.2893	−0.139%	$667K	$2.2M	10x	as long as short
BingX USELESS-USDT	+0.1394%	4h	0.2901	+0.142%	—	$4.9M	—	as long as short
Hyperliquid USELESS	+0.1446%	1h	0.2904	+0.252%	$14.8M	$19.6M	3x	as long as short
Bybit USELESSUSDT	+0.1450%	4h	0.2901	+0.152%	$29.2M	$42.7M	13x	as long as short
BloFin USELESS-USDT	+0.1917%	4h	0.2877	−0.673%	$1.3M	$2.0M	12x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.3054	+5.437%	$5K	$10K	5.5x	as long as short