Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0965%/8h= +105.7% APRpaid last 24h +0.185%

Price spread now: Aster against ApeX Omni−1.277%109s7-day average −0.053% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$740.736% of the position

Long on ApeX Omni Short on Aster

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.474%+$47 on $10k

Price spread, last 3 days (all we have)+1.527%+$153 · spread now −1.277%, 7d avg −0.053%

Together, before fees+2.001%+ Points / potential airdropAster: Stage 5 · farm board+$200 on $10k · with fees, hour by hour

Funding pays, the price is against you. Aster is 1.224% cheaper against ApeX Omni than usual: you would sell low and buy high (spread −1.277% now, against its 7-day average of −0.053%). If the spread goes back, that is −$122 on $10k: about 4.2 days of funding at the current rate (+$29 a day). At the pace of the last 5 days (+0.474% in total) that is about 14 days. The two prices were read 109 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 5 days it paid 0.474% in total (about 33.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni USELESSUSDT	0.2925	0.0396	pay 0.0050% / 1h	13m 36s	$42K	$699K	25x
Short	Aster USELESSUSDT	0.2888	0.1361	get 0.0681% / 4h	2h 13m	$667K	$2.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against ApeX Omni. 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 ApeX OmnibpFee AsterbpOrdersPrice spread, now −1.277%Rate

Funding earned: $202.65
Price spread: −1.277% → −0.053%: −$122.41
Slippage, 4 orders: −$55.57
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: $6.67
Costs to cover: 0.736%
Break-even: 6.8 days

Slippage from ApeX Omni: live order book, 10 min ago; Aster: live order book, 5 min ago.

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 ApeX Omni live order book, 10 min ago	10.22 bp	18.5 bp −$18	117.2 bp −$1,172	doesn't fit	doesn't fit
Sell Aster live order book, 5 min ago	3.74 bp	16.5 bp −$17	139.9 bp −$1,399	doesn't fit	doesn't fit

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	0.2870	−1.884%	$1.3M	$1.1M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2872	−1.819%	$32K	$70K	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0100%	4h	0.2870	−1.867%	$10.3M	$64.4M	10x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2919	−0.198%	$29K	$138K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2883	−1.422%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2878	−1.593%	$21K	$384K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2880	−1.545%	$576K	$1.2M	20x	as long as short
KuCoin USELESSUSDTM	+0.0232%	4h	0.2868	−1.945%	$5.3M	$9.6M	12x	as long as short
Aevo USELESS-PERP	+0.0240%	1h	0.2900	−0.860%	$10K	—	3x	as long as short
Gate USELESS_USDT	+0.0366%	4h	0.2865	−2.041%	$7.1M	$7.8M	50x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni USELESSUSDTlong	+0.0396%	1h	0.2925	long leg	$42K	$699K	25x
Bitget USELESSUSDT	+0.0530%	4h	0.2869	−1.928%	$5.5M	$8.8M	20x	as long as short
Extended USELESS-USD	+0.0648%	1h	0.2869	−1.919%	$303K	$968K	5x	as long as short
MEXC USELESS_USDT	+0.0648%	4h	0.2870	−1.867%	$10.1M	$5.9M	50x	as long as short
Binance USELESSUSDT	+0.0649%	4h	0.2869	−1.905%	$24.7M	$110.1M	50x	as long as short
edgeX USELESSUSDC	+0.0661%	4h	0.2932	+0.244%	$22K	$190K	10x	as long as short
Orderly PERP_USELESS_USDC	+0.1184%	4h	0.2897	−0.944%	$22K	$1.4M	10x	as long as short
BingX USELESS-USDT	+0.1200%	4h	0.2870	−1.867%	—	$4.9M	—	as long as short
Bybit USELESSUSDT	+0.1228%	4h	0.2871	−1.839%	$29.1M	$42.9M	13x	as long as short
Variational Omni USELESS	+0.1330%	4h	0.2930	+0.154%	$1.2M	$1.7M	—	as long as short
Aster USELESSUSDTshort	+0.1361%	4h	0.2888	−1.277%	$667K	$2.2M	10x
Hyperliquid USELESS	+0.1585%	1h	0.2878	−1.614%	$14.7M	$19.7M	3x	as long as short
BloFin USELESS-USDT	+0.1617%	4h	0.2927	+0.065%	$1.2M	$2.0M	12x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.3111	+6.349%	$5K	$10K	5.5x	as long as short