Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0180%/8h= +19.7% APRpaid last 24h −0.017%

Price spread now: Gate against Aevo−0.457%55s7-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 Gate

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. Gate is 0.457% cheaper against Aevo than usual: you would sell low and buy high (spread −0.457% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$46 on $10k: about 8.5 days of funding at the current rate (+$5 a day). The two prices were read 55 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	0.2942	0.0240	pay 0.0030% / 1h	17m 22s	$11K	—	3x
Short	Gate USELESS_USDT	0.2928	0.0420	get 0.0210% / 4h	2h 17m	$7.3M	$7.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.457%Rate

Funding earned: $37.8
Price spread: −0.457% → 0.000%: −$45.68
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$38.88
Costs to cover: 0.310%
Break-even: 14.2 days

Slippage unknown: Aevo: no order-book sample; Gate: live order book, 1 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 Gate live order book, 1 min ago	4.94 bp	41.1 bp −$41	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	0.2937	−0.185%	$1.4M	$1.1M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2937	−0.154%	$33K	$70K	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0100%	4h	0.2924	−0.593%	$10.5M	$65.4M	10x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2932	−0.331%	$29K	$137K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2943	+0.043%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2941	−0.039%	$20K	$379K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2935	−0.219%	$585K	$1.2M	20x	as long as short
Aevo USELESS-PERPlong	+0.0240%	1h	0.2942	long leg	$11K	—	3x
KuCoin USELESSUSDTM	+0.0246%	4h	0.2931	−0.365%	$5.4M	$9.6M	12x	as long as short
Gate USELESS_USDTshort	+0.0420%	4h	0.2928	−0.457%	$7.3M	$7.8M	50x

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni USELESSUSDT	+0.0437%	1h	0.2937	−0.168%	$42K	$699K	25x	as long as short
Bitget USELESSUSDT	+0.0536%	4h	0.2930	−0.409%	$5.6M	$8.7M	20x	as long as short
edgeX USELESSUSDC	+0.0654%	4h	0.2953	+0.379%	$22K	$190K	10x	as long as short
Binance USELESSUSDT	+0.0661%	4h	0.2932	−0.348%	$25.3M	$109.4M	50x	as long as short
Extended USELESS-USD	+0.0664%	1h	0.2937	−0.173%	$310K	$967K	5x	as long as short
MEXC USELESS_USDT	+0.0664%	4h	0.2932	−0.324%	$10.4M	$5.9M	50x	as long as short
Orderly PERP_USELESS_USDC	+0.1187%	4h	0.2927	−0.494%	$22K	$1.4M	10x	as long as short
BingX USELESS-USDT	+0.1200%	4h	0.2930	−0.392%	—	$4.9M	—	as long as short
Bybit USELESSUSDT	+0.1274%	4h	0.2926	−0.549%	$29.5M	$42.6M	13x	as long as short
Variational Omni USELESS	+0.1314%	4h	0.2942	+0.002%	$1.2M	$1.7M	—	as long as short
Aster USELESSUSDT	+0.1395%	4h	0.2939	−0.115%	$679K	$2.1M	10x	as long as short
Hyperliquid USELESS	+0.1607%	1h	0.2932	−0.328%	$15.0M	$19.6M	3x	as long as short
BloFin USELESS-USDT	+0.1622%	4h	0.2953	+0.383%	$1.3M	$2.0M	12x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.3113	+5.798%	$5K	$10K	5.5x	as long as short