Funding arb · Price arb /

USELESS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.019%

Price spread now: OKX against Aevo+0.452%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 OKX

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. OKX is 0.452% dearer against Aevo than usual: you sell high and buy low (spread +0.452% now, against zero (this spread has no 7-day history yet)): +$45 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 15 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo USELESS-PERP	0.2875	0.0200	pay 0.0025% / 1h	16m 05s	$10K	—	3x
Short	OKX USELESS-USDT-SWAP	0.2888	0.0100	get 0.0050% / 4h	3h 16m	$10.2M	$67.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.452%Rate

Funding earned: −$21
Price spread: +0.452% → 0.000%: $45.15
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee OKX: 5 bp × 2 orders: −$10
Net: −$1.85
Costs to cover: 0.260%
Break-even: from the start

Slippage unknown: Aevo: no order-book sample; OKX: live order book, 3 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 OKX live order book, 3 min ago	2.44 bp	24.6 bp −$25	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	0.2883	+0.309%	$1.3M	$1.1M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2878	+0.121%	$32K	$69K	3x	as long as short
OKX USELESS-USDT-SWAPshort	+0.0100%	4h	0.2888	+0.452%	$10.2M	$67.8M	10x
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2880	+0.184%	$50K	$174K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2883	+0.295%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2878	+0.104%	$19K	$510K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2877	+0.079%	$608K	$1.2M	20x	as long as short
KuCoin USELESSUSDTM	+0.0154%	4h	0.2879	+0.149%	$5.3M	$10.2M	12x	as long as short
Aevo USELESS-PERPlong	+0.0200%	1h	0.2875	long leg	$10K	—	3x
ApeX Omni USELESSUSDT	+0.0444%	1h	0.2856	−0.648%	$40K	$699K	25x	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	+0.0472%	1h	0.2887	+0.433%	$305K	$1.2M	5x	as long as short
MEXC USELESS_USDT	+0.0474%	4h	0.2885	+0.365%	$10.9M	$6.0M	50x	as long as short
Binance USELESSUSDT	+0.0474%	4h	0.2888	+0.458%	$24.4M	$116.3M	50x	as long as short
edgeX USELESSUSDC	+0.0475%	4h	0.2857	−0.622%	$21K	$193K	10x	as long as short
Bitget USELESSUSDT	+0.0544%	4h	0.2890	+0.532%	$5.6M	$9.6M	20x	as long as short
Bybit USELESSUSDT	+0.0661%	4h	0.2888	+0.476%	$28.3M	$46.3M	13x	as long as short
Gate USELESS_USDT	+0.0720%	4h	0.2884	+0.326%	$7.2M	$8.4M	50x	as long as short
BingX USELESS-USDT	+0.0866%	4h	0.2889	+0.507%	—	$5.1M	—	as long as short
Variational Omni USELESS	+0.0969%	4h	0.2879	+0.159%	$1.2M	$1.7M	—	as long as short
Aster USELESSUSDT	+0.1061%	4h	0.2877	+0.073%	$661K	$2.3M	10x	as long as short
Hyperliquid USELESS	+0.1127%	1h	0.2888	+0.471%	$14.6M	$21.0M	3x	as long as short
Orderly PERP_USELESS_USDC	+0.1241%	4h	0.2880	+0.184%	$22K	$1.4M	10x	as long as short
BloFin USELESS-USDT	+0.1274%	4h	0.2874	−0.008%	$1.2M	$2.1M	12x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.3035	+5.590%	$5K	$9K	5.5x	as long as short