Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0334%/8h= −36.6% APRpaid last 24h −0.083%

Price spread now: Aevo against Binance−0.115%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Binance Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Aevo is 0.115% cheaper against Binance than usual: you would sell low and buy high (−$12 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance USELESSUSDT	0.2544	0.0550	pay 0.0275% / 4h	54m 04s	$21.2M	$122.7M	50x
Short	Aevo USELESS-PERP	0.2541	0.0216	get 0.0027% / 1h	54m 04s	$9K	—	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Binance. 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 BinancebpFee AevobpOrdersPrice spread, now −0.115%Rate

Funding earned: −$70.14
Price spread: −0.115% → 0.000%: −$11.54
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$107.69
Costs to cover: 0.260%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 4 min ago; Aevo: no order-book sample. 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 Binance live order book, 4 min ago	0.20 bp	13.2 bp −$13	67.9 bp −$679	doesn't fit	doesn't fit
Sell Aevo no order-book sample	—	—	—	—	—

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	0.2539	−0.186%	$1.2M	$1.2M	3x	as long as short
Hyperliquid USELESS	+0.0100%	1h	0.2541	−0.115%	$11.5M	$22.6M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2541	−0.096%	$28K	$70K	3x	as long as short
Gate USELESS_USDT	+0.0100%	4h	0.2536	−0.320%	$6.4M	$8.6M	50x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2543	−0.045%	$35K	$219K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2541	−0.123%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2535	−0.332%	$17K	$517K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2538	−0.233%	$556K	$1.1M	20x	as long as short
OKX USELESS-USDT-SWAP	+0.0210%	4h	0.2542	−0.053%	$8.8M	$62.3M	10x	as long as short
Aevo USELESS-PERPshort	+0.0216%	1h	0.2541	−0.115%	$9K	—	3x

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin USELESSUSDTM	+0.0242%	4h	0.2541	−0.092%	$4.6M	$10.6M	12x	as long as short
ApeX Omni USELESSUSDT	+0.0473%	1h	0.2549	+0.207%	$33K	$699K	25x	as long as short
Bitget USELESSUSDT	+0.0476%	4h	0.2540	−0.135%	$4.9M	$10.4M	20x	as long as short
edgeX USELESSUSDC	+0.0546%	4h	0.2552	+0.311%	$19K	$195K	10x	as long as short
MEXC USELESS_USDT	+0.0550%	4h	0.2542	−0.064%	$10.1M	$6.2M	50x	as long as short
Binance USELESSUSDTlong	+0.0550%	4h	0.2544	long leg	$21.2M	$122.7M	50x
Extended USELESS-USD	+0.0552%	1h	0.2541	−0.089%	$112K	$1.2M	5x	as long as short
Aster USELESSUSDT	+0.0709%	4h	0.2538	−0.241%	$503K	$2.4M	10x	as long as short
Bybit USELESSUSDT	+0.0752%	4h	0.2541	−0.092%	$24.4M	$48.6M	13x	as long as short
BingX USELESS-USDT	+0.0764%	4h	0.2541	−0.112%	—	$5.3M	—	as long as short
Variational Omni USELESS	+0.0899%	4h	0.2557	+0.519%	$1.0M	$1.8M	—	as long as short
BloFin USELESS-USDT	+0.1030%	4h	0.2544	−0.001%	$1.1M	$1.9M	12x	as long as short
Orderly PERP_USELESS_USDC	+0.1342%	4h	0.2542	−0.060%	$19K	$1.3M	10x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2708	+6.465%	$5K	$11K	5.5x	as long as short