Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0409%/8h= +44.8% APRpaid last 24h +0.128%

Price spread now: Variational Omni against Aevo+0.457%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 Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and Variational Omni is 0.457% dearer against Aevo than usual: you sell high and buy low: +$46 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	0.2838	0.0152	pay 0.0019% / 1h	4m 00s	$10K	—	3x
Short	Variational Omni USELESS	0.2851	0.0561	get 0.0281% / 4h	1h 04m	$1.2M	$1.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.457%Rate

Funding earned: $85.96
Price spread: +0.457% → 0.000%: $45.75
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $115.71
Costs to cover: 0.160%
Break-even: from the start

Slippage unknown: Aevo: no order-book sample; Variational Omni: RFQ quote, just now. 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 Variational Omni RFQ quote, just now	5.28 bp	doesn't fit	47.5 bp −$475	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	0.2838	+0.024%	$1.3M	$1.3M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2836	−0.051%	$30K	$19K	3x	as long as short
KuCoin USELESSUSDTM	+0.0100%	4h	0.2839	+0.038%	$5.2M	$10.7M	12x	as long as short
Bitget USELESSUSDT	+0.0100%	4h	0.2838	+0.020%	$5.5M	$10.5M	20x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2841	+0.109%	$28K	$267K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2841	+0.126%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2843	+0.190%	$20K	$515K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2842	+0.151%	$651K	$1.2M	20x	as long as short
OKX USELESS-USDT-SWAP	+0.0109%	4h	0.2838	+0.027%	$9.8M	$71.0M	10x	as long as short
Aster USELESSUSDT	+0.0126%	4h	0.2841	+0.126%	$556K	$2.2M	10x	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	+0.0152%	1h	0.2838	long leg	$10K	—	3x
Hyperliquid USELESS	+0.0193%	1h	0.2840	+0.080%	$12.4M	$23.4M	3x	as long as short
edgeX USELESSUSDC	+0.0258%	4h	0.2845	+0.249%	$21K	$197K	10x	as long as short
Binance USELESSUSDT	+0.0263%	4h	0.2840	+0.077%	$23.6M	$124.6M	50x	as long as short
Extended USELESS-USD	+0.0264%	1h	0.2839	+0.062%	$242K	$896K	5x	as long as short
MEXC USELESS_USDT	+0.0268%	4h	0.2840	+0.094%	$11.9M	$6.2M	50x	as long as short
Bybit USELESSUSDT	+0.0482%	4h	0.2838	+0.035%	$26.8M	$49.4M	13x	as long as short
BingX USELESS-USDT	+0.0508%	4h	0.2840	+0.080%	—	$5.3M	—	as long as short
ApeX Omni USELESSUSDT	+0.0529%	1h	0.2843	+0.193%	$52K	$701K	25x	as long as short
Variational Omni USELESSshort	+0.0561%	4h	0.2851	+0.457%	$1.2M	$1.9M	—
Gate USELESS_USDT	+0.0646%	4h	0.2837	−0.022%	$7.1M	$8.7M	50x	as long as short
BloFin USELESS-USDT	+0.0738%	4h	0.2839	+0.045%	$1.2M	$2.1M	12x	as long as short
Orderly PERP_USELESS_USDC	+0.0951%	4h	0.2840	+0.087%	$22K	$1.5M	10x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.3013	+6.195%	$5K	$11K	5.5x	as long as short