Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0058%/8h= −6.4% APRpaid last 24h +0.076%

Price spread now: edgeX against ApeX Omni+0.193%7-day average +0.035% · you sell dearer than you buy

Net, funding: paid 7d − costs−$221as in the Funding arb table

Net, price: spread back to 7d avg − costs−$216as in the Price arb table

costs, in and out, $10k−$2322.318% of the position

Long on ApeX Omni Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.113%+$11 on $10k

Price spread, last 3 days (all we have)−0.068%−$7 · spread now +0.193%, 7d avg +0.035%

Together, before fees+0.045%+ Points / potential airdropedgeX: Active · farm board+$4 on $10k · with fees, hour by hour

The price spread pays, funding is against you. edgeX is 0.159% dearer against ApeX Omni than usual: you sell high and buy low (spread +0.193% now, against its 7-day average of +0.035%): +$16 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 9.0 days. Mind the row above: over the last 7 days funding on this pair paid +0.113%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni USELESSUSDT	0.2839	0.0635	pay 0.0079% / 1h	43m 12s	$40K	$700K	25x
Short	edgeX USELESSUSDC	0.2844	0.0576	get 0.0288% / 4h	1h 43m	$21K	$191K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.193%Rate

Funding earned: −$12.26
Price spread: +0.193% → +0.035%: $15.85
Slippage, 4 orders: −$212.8
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$228.22
Costs to cover: 2.318%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 40 min ago; edgeX: live order book, 38 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, 40 min ago	10.22 bp	18.5 bp −$18	117.2 bp −$1,172	doesn't fit	doesn't fit
Sell edgeX live order book, 38 min ago	1.53 bp	160.6 bp −$161	doesn't fit	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	0.2834	−0.159%	$1.3M	$1.1M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2839	−0.011%	$31K	$70K	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0100%	4h	0.2834	−0.183%	$10.0M	$64.3M	10x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2838	−0.049%	$27K	$142K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2838	−0.035%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2841	+0.077%	$27K	$411K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2819	−0.708%	$577K	$1.2M	20x	as long as short
Aevo USELESS-PERP	+0.0224%	1h	0.2837	−0.085%	$10K	—	3x	as long as short
KuCoin USELESSUSDTM	+0.0328%	4h	0.2832	−0.236%	$5.3M	$9.7M	12x	as long as short
Gate USELESS_USDT	+0.0392%	4h	0.2831	−0.268%	$7.1M	$7.9M	50x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget USELESSUSDT	+0.0536%	4h	0.2834	−0.169%	$5.5M	$8.9M	20x	as long as short
Extended USELESS-USD	+0.0568%	1h	0.2835	−0.141%	$299K	$965K	5x	as long as short
Binance USELESSUSDT	+0.0569%	4h	0.2837	−0.085%	$24.0M	$111.8M	50x	as long as short
MEXC USELESS_USDT	+0.0576%	4h	0.2835	−0.134%	$10.0M	$5.7M	50x	as long as short
edgeX USELESSUSDCshort	+0.0576%	4h	0.2844	+0.193%	$21K	$191K	10x
ApeX Omni USELESSUSDTlong	+0.0635%	1h	0.2839	long leg	$40K	$700K	25x
Hyperliquid USELESS	+0.1167%	1h	0.2840	+0.025%	$14.4M	$19.9M	3x	as long as short
Orderly PERP_USELESS_USDC	+0.1240%	4h	0.2836	−0.106%	$22K	$1.4M	10x	as long as short
Aster USELESSUSDT	+0.1257%	4h	0.2837	−0.056%	$656K	$2.2M	10x	as long as short
BingX USELESS-USDT	+0.1394%	4h	0.2835	−0.127%	—	$4.9M	—	as long as short
Bybit USELESSUSDT	+0.1493%	4h	0.2836	−0.106%	$28.7M	$43.4M	13x	as long as short
Variational Omni USELESS	+0.1517%	4h	0.2835	−0.152%	$1.2M	$1.8M	—	as long as short
BloFin USELESS-USDT	+0.1941%	4h	0.2836	−0.120%	$1.2M	$1.9M	12x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.3013	+6.132%	$5K	$9K	5.5x	as long as short