Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0943%/8h= +103.3% APRpaid last 24h +0.268%

Price spread now: Orderly against Aevo+0.025%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 Orderly

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 +$28 a day on $10k at the current rate, and Orderly is 0.025% dearer against Aevo than usual: you sell high and buy low: +$2 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo USELESS-PERP	0.2983	0.0240	pay 0.0030% / 1h	31m 32s	$11K	—	3x
Short	Orderly PERP_USELESS_USDC	0.2984	0.1183	get 0.0592% / 4h	1h 31m	$25K	$1.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.025%Rate

Funding earned: $198.03
Price spread: +0.025% → 0.000%: $2.48
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Orderly: 3 bp × 2 orders: −$6
Net: $178.52
Costs to cover: 0.220%
Break-even: 0.7 days

Slippage unknown: Aevo: no order-book sample; Orderly: no order-book sample. 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 Orderly no order-book sample	—	—	—	—	—

Aevo and Orderly: 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 exchanges

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
Injective USELESS/USDC PERP	+0.0033%	1h	0.3187	+6.861%	$5K	$10K	5.5x	as long as short
Lighter USELESS	+0.0096%	1h	0.2984	+0.028%	$1.4M	$1.1M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2983	+0.023%	$32K	$18K	3x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2984	+0.048%	$28K	$289K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2983	+0.005%	—	$1.3M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2978	−0.166%	$38K	$542K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2978	−0.170%	$701K	$1.3M	20x	as long as short
OKX USELESS-USDT-SWAP	+0.0131%	4h	0.2983	+0.001%	$11.3M	$73.8M	10x	as long as short
KuCoin USELESSUSDTM	+0.0172%	4h	0.2981	−0.059%	$5.5M	$10.3M	10x	as long as short
Aevo USELESS-PERPlong	+0.0240%	1h	0.2983	long leg	$11K	—	3x

Show all 24 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget USELESSUSDT	+0.0296%	4h	0.2984	+0.035%	$5.9M	$10.6M	20x	as long as short
Aster USELESSUSDT	+0.0564%	4h	0.2983	+0.015%	$645K	$2.4M	10x	as long as short
edgeX USELESSUSDC	+0.0659%	4h	0.2980	−0.091%	$22K	$202K	10x	as long as short
MEXC USELESS_USDT	+0.0660%	4h	0.2984	+0.035%	$16.3M	$7.2M	50x	as long as short
Binance USELESSUSDT	+0.0661%	4h	0.2985	+0.075%	$25.8M	$131.1M	50x	as long as short
Extended USELESS-USD	+0.0664%	1h	0.2984	+0.044%	$293K	$1.7M	5x	as long as short
ApeX Omni USELESSUSDT	+0.0680%	1h	0.2985	+0.075%	$57K	$694K	25x	as long as short
Gate USELESS_USDT	+0.0810%	4h	0.2981	−0.066%	$7.5M	$8.5M	50x	as long as short
BingX USELESS-USDT	+0.1032%	4h	0.2984	+0.048%	—	$5.7M	—	as long as short
Bybit USELESSUSDT	+0.1089%	4h	0.2984	+0.055%	$29.4M	$52.2M	13x	as long as short
Hyperliquid USELESS	+0.1126%	1h	0.2984	+0.045%	$13.9M	$22.0M	3x	as long as short
Variational Omni USELESS	+0.1144%	4h	0.2989	+0.210%	$1.3M	$1.9M	—	as long as short
Orderly PERP_USELESS_USDCshort	+0.1183%	4h	0.2984	+0.025%	$25K	$1.9M	10x
BloFin USELESS-USDT	+0.1385%	4h	0.2980	−0.099%	$1.3M	$2.3M	12x	as long as short