Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0171%/8h= −18.7% APRpaid last 24h −0.012%

Price spread now: KuCoin against ApeX Omni+0.369%7-day average −0.049% · you sell dearer than you buy

Net, funding: paid 7d − costs−$113as in the Funding arb table

Net, price: spread back to 7d avg − costs−$88as in the Price arb table

costs, in and out, $10k−$1301.295% of the position

Long on ApeX Omni Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.161%+$16 on $10k

Price spread, last 4 days (all we have)−0.327%−$33 · spread now +0.369%, 7d avg −0.049%

Together, before fees−0.165%−$17 on $10k · with fees, hour by hour

The price spread pays, funding is against you. KuCoin is 0.419% dearer against ApeX Omni than usual: you sell high and buy low (spread +0.369% now, against its 7-day average of −0.049%): +$42 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 8.2 days. Mind the row above: over the last 7 days funding on this pair paid +0.161%, 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	0.2545	0.0411	pay 0.0051% / 1h	45m 03s	$32K	$699K	25x
Short	KuCoin USELESSUSDTM	0.2554	0.0240	get 0.0120% / 4h	45m 03s	$4.6M	$10.6M	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.369%Rate

Funding earned: −$35.88
Price spread: +0.369% → −0.049%: $41.87
Slippage, 4 orders: −$107.5
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$123.52
Costs to cover: 1.295%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 14 min ago; KuCoin: live order book, 3 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, 14 min ago	7.86 bp	18.8 bp −$19	119.4 bp −$1,194	doesn't fit	doesn't fit
Sell KuCoin live order book, 3 min ago	10.22 bp	56.4 bp −$56	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	0.2552	+0.259%	$1.2M	$1.2M	3x	as long as short
Hyperliquid USELESS	+0.0100%	1h	0.2555	+0.379%	$11.5M	$22.7M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2536	−0.353%	$28K	$70K	3x	as long as short
Gate USELESS_USDT	+0.0100%	4h	0.2550	+0.200%	$6.4M	$8.7M	50x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2546	+0.035%	$35K	$219K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2555	+0.393%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2549	+0.161%	$17K	$519K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2550	+0.181%	$563K	$1.1M	20x	as long as short
Aevo USELESS-PERP	+0.0208%	1h	0.2550	+0.193%	$9K	—	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0216%	4h	0.2555	+0.409%	$8.9M	$62.9M	10x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin USELESSUSDTMshort	+0.0240%	4h	0.2554	+0.369%	$4.6M	$10.6M	12x
ApeX Omni USELESSUSDTlong	+0.0411%	1h	0.2545	long leg	$32K	$699K	25x
Bitget USELESSUSDT	+0.0418%	4h	0.2554	+0.350%	$4.9M	$10.4M	20x	as long as short
Binance USELESSUSDT	+0.0502%	4h	0.2554	+0.346%	$21.3M	$123.3M	50x	as long as short
Extended USELESS-USD	+0.0504%	1h	0.2555	+0.380%	$112K	$1.2M	5x	as long as short
MEXC USELESS_USDT	+0.0510%	4h	0.2555	+0.385%	$10.2M	$6.2M	50x	as long as short
edgeX USELESSUSDC	+0.0511%	4h	0.2542	−0.131%	$19K	$197K	10x	as long as short
Aster USELESSUSDT	+0.0600%	4h	0.2551	+0.252%	$505K	$2.4M	10x	as long as short
BingX USELESS-USDT	+0.0646%	4h	0.2555	+0.397%	—	$5.3M	—	as long as short
Bybit USELESSUSDT	+0.0668%	4h	0.2555	+0.405%	$24.5M	$48.8M	13x	as long as short
Variational Omni USELESS	+0.0843%	4h	0.2536	−0.372%	$1.0M	$1.8M	—	as long as short
BloFin USELESS-USDT	+0.0925%	4h	0.2554	+0.365%	$1.1M	$1.9M	12x	as long as short
Orderly PERP_USELESS_USDC	+0.1327%	4h	0.2556	+0.417%	$19K	$1.3M	10x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2703	+6.220%	$5K	$11K	5.5x	as long as short