Funding arb · Price arb /

USELESS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0108%/8h= −11.8% APRpaid last 24h −0.029%

Price spread now: HTX against Aevo+0.044%7-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 HTX

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

The price spread pays, funding is against you. HTX is 0.044% dearer against Aevo than usual: you sell high and buy low (spread +0.044% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 33 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo USELESS-PERP	0.2835	0.0208	pay 0.0026% / 1h	49m 06s	$10K	—	3x
Short	HTX USELESS-USDT	0.2836	0.0100	get 0.0050% / 4h	2h 49m	$19K	$515K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.044%Rate

Funding earned: −$22.68
Price spread: +0.044% → 0.000%: $4.41
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee HTX: 6 bp × 2 orders: −$12
Net: −$46.27
Costs to cover: 0.280%
Break-even: never at this rate

Slippage unknown: Aevo: no order-book sample; HTX: live order book, 19 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 HTX live order book, 19 min ago	35.00 bp	doesn't fit	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	0.2836	+0.026%	$1.3M	$1.1M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2837	+0.074%	$32K	$69K	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0100%	4h	0.2845	+0.358%	$10.0M	$67.5M	10x	as long as short
KuCoin USELESSUSDTM	+0.0100%	4h	0.2832	−0.097%	$5.2M	$10.2M	12x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2833	−0.069%	—	$1.4M	10x	as long as short
HTX USELESS-USDTshort	+0.0100%	4h	0.2836	+0.044%	$19K	$515K	20x
Phemex USELESSUSDT	+0.0100%	4h	0.2831	−0.150%	$598K	$1.2M	20x	as long as short
Gate USELESS_USDT	+0.0144%	4h	0.2836	+0.034%	$7.1M	$8.3M	50x	as long as short
Aevo USELESS-PERPlong	+0.0208%	1h	0.2835	long leg	$10K	—	3x
edgeX USELESSUSDC	+0.0470%	4h	0.2832	−0.102%	$21K	$194K	10x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended USELESS-USD	+0.0512%	1h	0.2833	−0.064%	$298K	$1.2M	5x	as long as short
MEXC USELESS_USDT	+0.0512%	4h	0.2835	−0.012%	$11.0M	$6.0M	50x	as long as short
Binance USELESSUSDT	+0.0513%	4h	0.2842	+0.231%	$24.1M	$117.7M	50x	as long as short
Bitget USELESSUSDT	+0.0576%	4h	0.2844	+0.319%	$5.4M	$9.9M	20x	as long as short
Polymarket Perps USELESS-USD	+0.0617%	1h	0.2835	+0.012%	$43K	$185K	3x	as long as short
Bybit USELESSUSDT	+0.0624%	4h	0.2842	+0.231%	$27.6M	$46.7M	13x	as long as short
BingX USELESS-USDT	+0.0744%	4h	0.2843	+0.273%	—	$5.1M	—	as long as short
BloFin USELESS-USDT	+0.0886%	4h	0.2835	+0.002%	$1.2M	$2.1M	12x	as long as short
Variational Omni USELESS	+0.0917%	4h	0.2853	+0.616%	$1.2M	$1.7M	—	as long as short
ApeX Omni USELESSUSDT	+0.0961%	1h	0.2850	+0.527%	$39K	$700K	25x	as long as short
Aster USELESSUSDT	+0.1056%	4h	0.2839	+0.148%	$653K	$2.3M	10x	as long as short
Hyperliquid USELESS	+0.1206%	1h	0.2839	+0.156%	$14.2M	$21.1M	3x	as long as short
Orderly PERP_USELESS_USDC	+0.1257%	4h	0.2835	−0.016%	$22K	$1.4M	10x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.3027	+6.760%	$5K	$9K	5.5x	as long as short