Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0640%/8h= −70.1% APRpaid last 24h −0.078%

Price spread now: ApeX Omni against Binance−1.733%7-day average +0.026% · you buy dearer than you sell

Net, funding: paid 7d − costs−$78as in the Funding arb table

Net, price: spread back to 7d avg − costs−$241as in the Price arb table

costs, in and out, $10k−$650.652% of the position

Long on Binance Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.125%−$13 on $10k

Price spread, last 3 days (all we have)+1.620%+$162 · spread now −1.733%, 7d avg +0.026%

Together, before fees+1.495%+$149 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$19 a day on $10k at the current rate, and ApeX Omni is 1.759% cheaper against Binance than usual: you would sell low and buy high (−$176 if the spread goes back to its 7-day average of +0.026%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.125% in total (about -6.5% 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	Binance USELESSUSDT	0.2926	0.0672	pay 0.0336% / 4h	2h 47m	$25.2M	$109.1M	50x
Short	ApeX Omni USELESSUSDT	0.2875	0.0032	get 0.0004% / 1h	47m 08s	$41K	$697K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni 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 ApeX OmnibpOrdersPrice spread, now −1.733%Rate

Funding earned: −$134.36
Price spread: −1.733% → +0.026%: −$175.88
Slippage, 4 orders: −$45.24
Fee Binance: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$375.48
Costs to cover: 0.652%
Break-even: never at this rate

Slippage from Binance: live order book, 11 min ago; ApeX Omni: live order book, 41 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 Binance live order book, 11 min ago	0.17 bp	12.7 bp −$13	64.1 bp −$641	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 41 min ago	11.83 bp	19.8 bp −$20	99.8 bp −$998	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
ApeX Omni USELESSUSDTshort	+0.0032%	1h	0.2875	−1.733%	$41K	$697K	25x
Lighter USELESS	+0.0096%	1h	0.2925	−0.027%	$1.3M	$1.1M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2919	−0.212%	$32K	$70K	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0100%	4h	0.2924	−0.068%	$10.4M	$65.4M	10x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2924	−0.041%	$29K	$135K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2928	+0.065%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2918	−0.273%	$20K	$376K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2916	−0.321%	$579K	$1.3M	20x	as long as short
KuCoin USELESSUSDTM	+0.0152%	4h	0.2923	−0.082%	$5.4M	$9.6M	12x	as long as short
Aevo USELESS-PERP	+0.0240%	1h	0.2924	−0.057%	$10K	—	3x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate USELESS_USDT	+0.0256%	4h	0.2921	−0.171%	$7.3M	$7.7M	50x	as long as short
Bitget USELESSUSDT	+0.0566%	4h	0.2924	−0.044%	$5.5M	$8.7M	20x	as long as short
edgeX USELESSUSDC	+0.0659%	4h	0.2901	−0.860%	$22K	$189K	10x	as long as short
Extended USELESS-USD	+0.0672%	1h	0.2925	−0.041%	$306K	$967K	5x	as long as short
MEXC USELESS_USDT	+0.0672%	4h	0.2927	+0.034%	$10.3M	$5.8M	50x	as long as short
Binance USELESSUSDTlong	+0.0672%	4h	0.2926	long leg	$25.2M	$109.1M	50x
Orderly PERP_USELESS_USDC	+0.1127%	4h	0.2925	−0.031%	$22K	$1.4M	10x	as long as short
Variational Omni USELESS	+0.1192%	4h	0.2881	−1.531%	$1.1M	$1.7M	—	as long as short
BingX USELESS-USDT	+0.1312%	4h	0.2924	−0.041%	—	$4.9M	—	as long as short
Aster USELESSUSDT	+0.1322%	4h	0.2917	−0.304%	$673K	$2.1M	10x	as long as short
Bybit USELESSUSDT	+0.1434%	4h	0.2928	+0.068%	$29.5M	$42.6M	13x	as long as short
Hyperliquid USELESS	+0.1567%	1h	0.2929	+0.126%	$15.0M	$19.6M	3x	as long as short
BloFin USELESS-USDT	+0.1804%	4h	0.2924	−0.058%	$1.3M	$2.0M	12x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.3092	+5.677%	$5K	$10K	5.5x	as long as short