Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0313%/8h= −34.2% APRpaid last 24h +0.077%

Price spread now: Binance against ApeX Omni−0.624%79s7-day average +0.011% · you buy dearer than you sell

Net, funding: paid 7d − costs−$60as in the Funding arb table

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

costs, in and out, $10k−$740.739% of the position

Long on ApeX Omni Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.138%+$14 on $10k

Price spread, last 4 days (all we have)+0.763%+$76 · spread now −0.624%, 7d avg +0.011%

Together, before fees+0.901%+$90 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Binance is 0.635% cheaper against ApeX Omni than usual: you would sell low and buy high (−$64 if the spread goes back to its 7-day average of +0.011%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.138%, so the current rate has only just turned against you. The two prices were read 79 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 7 days it paid 0.138% in total (about 7.2% 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	0.2774	0.0551	pay 0.0069% / 1h	0m 09s	$49K	$701K	25x
Short	Binance USELESSUSDT	0.2757	0.0238	get 0.0119% / 4h	2h 00m	$22.9M	$123.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.624%Rate

Funding earned: −$65.65
Price spread: −0.624% → +0.011%: −$63.51
Slippage, 4 orders: −$53.94
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$203.09
Costs to cover: 0.739%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 48 min ago; Binance: live order book, 13 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, 48 min ago	11.14 bp	19.1 bp −$19	103.9 bp −$1,039	doesn't fit	doesn't fit
Sell Binance live order book, 13 min ago	0.54 bp	16.0 bp −$16	88.8 bp −$888	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	0.2754	−0.717%	$1.3M	$1.2M	3x	as long as short
Hyperliquid USELESS	+0.0100%	1h	0.2756	−0.634%	$11.9M	$23.3M	3x	as long as short
Aster USELESSUSDT	+0.0100%	4h	0.2756	−0.645%	$540K	$2.1M	10x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2758	−0.587%	$29K	$19K	3x	as long as short
Bitget USELESSUSDT	+0.0100%	4h	0.2754	−0.735%	$5.3M	$10.4M	20x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2756	−0.645%	$26K	$256K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2757	−0.606%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2755	−0.678%	$19K	$517K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2758	−0.566%	$644K	$1.2M	20x	as long as short
KuCoin USELESSUSDTM	+0.0110%	4h	0.2757	−0.631%	$5.0M	$10.6M	12x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo USELESS-PERP	+0.0144%	1h	0.2754	−0.730%	$10K	—	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0169%	4h	0.2752	−0.779%	$9.5M	$67.8M	10x	as long as short
edgeX USELESSUSDC	+0.0236%	4h	0.2756	−0.646%	$21K	$197K	10x	as long as short
MEXC USELESS_USDT	+0.0238%	4h	0.2756	−0.660%	$11.2M	$6.1M	50x	as long as short
Binance USELESSUSDTshort	+0.0238%	4h	0.2757	−0.624%	$22.9M	$123.0M	50x
Extended USELESS-USD	+0.0240%	1h	0.2757	−0.615%	$138K	$1.2M	5x	as long as short
Gate USELESS_USDT	+0.0362%	4h	0.2754	−0.732%	$6.9M	$8.7M	50x	as long as short
Bybit USELESSUSDT	+0.0446%	4h	0.2756	−0.649%	$25.9M	$48.6M	13x	as long as short
BingX USELESS-USDT	+0.0450%	4h	0.2753	−0.743%	—	$5.3M	—	as long as short
Variational Omni USELESS	+0.0486%	4h	0.2761	−0.465%	$1.0M	$1.8M	—	as long as short
ApeX Omni USELESSUSDTlong	+0.0551%	1h	0.2774	long leg	$49K	$701K	25x
BloFin USELESS-USDT	+0.0697%	4h	0.2763	−0.397%	$1.2M	$2.1M	12x	as long as short
Orderly PERP_USELESS_USDC	+0.1089%	4h	0.2756	−0.634%	$21K	$1.3M	10x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2826	+1.882%	$5K	$11K	5.5x	as long as short