Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0297%/8h= −32.6% APRpaid last 24h −0.102%

Price spread now: Polymarket Perps against Binance−0.001%7-day average +0.028% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$198as in the Price arb table

costs, in and out, $10k−$1951.950% of the position

Long on Binance Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.262%−$26 on $10k

Price spread, last 7 days−0.043%−$4 · spread now −0.001%, 7d avg +0.028%

Together, before fees−0.306%−$31 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 Polymarket Perps is 0.029% cheaper against Binance than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.028%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance USELESSUSDT	0.2616	0.0397	pay 0.0199% / 4h	4m 19s	$21.7M	$121.8M	50x
Short	Polymarket Perps USELESS-USD	0.2616	0.0100	get 0.0013% / 1h	4m 19s	$28K	$228K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.001%Rate

Funding earned: −$62.46
Price spread: −0.001% → +0.028%: −$2.86
Slippage, 4 orders: −$177.05
Fee Binance: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$260.37
Costs to cover: 1.950%
Break-even: never at this rate

Slippage from Binance: live order book, 9 min ago; Polymarket Perps: live order book, 53 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, 9 min ago	0.19 bp	19.3 bp −$19	58.6 bp −$586	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 53 min ago	6.65 bp	81.3 bp −$81	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	0.2614	−0.081%	$1.2M	$1.2M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2614	−0.070%	$28K	$53K	3x	as long as short
Polymarket Perps USELESS-USDshort	+0.0100%	1h	0.2616	−0.001%	$28K	$228K	3x
SunX USELESS-USDT	+0.0100%	4h	0.2615	−0.043%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2607	−0.337%	$18K	$523K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2616	+0.033%	$589K	$1.0M	20x	as long as short
Aevo USELESS-PERP	+0.0184%	1h	0.2617	+0.066%	$9K	—	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0186%	4h	0.2615	−0.009%	$8.9M	$63.6M	10x	as long as short
Gate USELESS_USDT	+0.0206%	4h	0.2606	−0.353%	$6.5M	$8.8M	50x	as long as short
KuCoin USELESSUSDTM	+0.0234%	4h	0.2614	−0.058%	$4.8M	$10.7M	12x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget USELESSUSDT	+0.0268%	4h	0.2615	−0.035%	$5.0M	$10.4M	20x	as long as short
Hyperliquid USELESS	+0.0391%	1h	0.2616	+0.030%	$11.5M	$22.7M	3x	as long as short
Binance USELESSUSDTlong	+0.0397%	4h	0.2616	long leg	$21.7M	$121.8M	50x
Extended USELESS-USD	+0.0400%	1h	0.2613	−0.091%	$113K	$1.1M	5x	as long as short
edgeX USELESSUSDC	+0.0403%	4h	0.2625	+0.369%	$20K	$196K	10x	as long as short
MEXC USELESS_USDT	+0.0404%	4h	0.2615	−0.012%	$10.5M	$6.2M	50x	as long as short
ApeX Omni USELESSUSDT	+0.0482%	1h	0.2623	+0.282%	$33K	$694K	25x	as long as short
Aster USELESSUSDT	+0.0485%	4h	0.2617	+0.046%	$525K	$2.4M	10x	as long as short
BingX USELESS-USDT	+0.0492%	4h	0.2616	+0.022%	—	$5.3M	—	as long as short
Bybit USELESSUSDT	+0.0505%	4h	0.2613	−0.093%	$24.8M	$48.5M	13x	as long as short
Variational Omni USELESS	+0.0639%	4h	0.2624	+0.327%	$1.0M	$1.8M	—	as long as short
BloFin USELESS-USDT	+0.0751%	4h	0.2617	+0.064%	$1.1M	$1.9M	12x	as long as short
Orderly PERP_USELESS_USDC	+0.1319%	4h	0.2617	+0.053%	$19K	$1.2M	10x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2772	+5.982%	$5K	$11K	5.5x	as long as short