Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0128%/8h= −14.1% APRpaid last 24h −0.103%

Price spread now: ApeX Omni against BingX+0.093%7-day average −0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs−$93as in the Funding arb table

Net, price: spread back to 7d avg − costs−$61as in the Price arb table

costs, in and out, $10k−$720.717% of the position

Long on BingX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.214%−$21 on $10k

Price spread, last 4 days (all we have)−0.401%−$40 · spread now +0.093%, 7d avg −0.013%

Together, before fees−0.615%−$61 on $10k · with fees, hour by hour

The price spread pays, funding is against you. ApeX Omni is 0.106% dearer against BingX than usual: you sell high and buy low (spread +0.093% now, against its 7-day average of −0.013%): +$11 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 2.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX USELESS-USDT	0.2785	0.0532	pay 0.0266% / 4h	1h 43m	—	$5.3M	—
Short	ApeX Omni USELESSUSDT	0.2788	0.0404	get 0.0050% / 1h	43m 04s	$49K	$700K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against BingX. 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 BingXbpFee ApeX OmnibpOrdersPrice spread, now +0.093%Rate

Funding earned: −$26.95
Price spread: +0.093% → −0.013%: $10.6
Slippage, 4 orders: −$51.75
Fee BingX: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$88.1
Costs to cover: 0.717%
Break-even: never at this rate

Slippage from BingX: live order book, 7 min ago; ApeX Omni: live order book, 65 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 BingX live order book, 7 min ago	3.80 bp	18.3 bp −$18	62.3 bp −$623	472.6 bp −$47.3K	1141.6 bp −$570.8K
Sell ApeX Omni live order book, 65 min ago	11.14 bp	20.9 bp −$21	109.9 bp −$1,099	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	0.2781	−0.154%	$1.3M	$1.2M	3x	as long as short
Aster USELESSUSDT	+0.0100%	4h	0.2779	−0.238%	$544K	$2.2M	10x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2777	−0.290%	$30K	$19K	3x	as long as short
Bitget USELESSUSDT	+0.0100%	4h	0.2784	−0.050%	$5.4M	$10.4M	20x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2775	−0.384%	$26K	$258K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2782	−0.111%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2777	−0.316%	$19K	$517K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2779	−0.244%	$643K	$1.2M	20x	as long as short
KuCoin USELESSUSDTM	+0.0134%	4h	0.2781	−0.158%	$5.1M	$10.6M	12x	as long as short
Aevo USELESS-PERP	+0.0152%	1h	0.2785	−0.026%	$10K	—	3x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX USELESS-USDT-SWAP	+0.0155%	4h	0.2785	−0.004%	$9.5M	$69.1M	10x	as long as short
edgeX USELESSUSDC	+0.0273%	4h	0.2793	+0.268%	$21K	$197K	10x	as long as short
MEXC USELESS_USDT	+0.0284%	4h	0.2783	−0.097%	$11.4M	$6.1M	50x	as long as short
Binance USELESSUSDT	+0.0285%	4h	0.2784	−0.067%	$23.1M	$123.9M	50x	as long as short
Extended USELESS-USD	+0.0288%	1h	0.2780	−0.207%	$138K	$842K	5x	as long as short
Hyperliquid USELESS	+0.0381%	1h	0.2786	+0.032%	$12.1M	$23.4M	3x	as long as short
ApeX Omni USELESSUSDTshort	+0.0404%	1h	0.2788	+0.093%	$49K	$700K	25x
Gate USELESS_USDT	+0.0434%	4h	0.2781	−0.144%	$6.9M	$8.6M	50x	as long as short
BingX USELESS-USDTlong	+0.0532%	4h	0.2785	long leg	—	$5.3M	—
Bybit USELESSUSDT	+0.0550%	4h	0.2785	−0.011%	$26.1M	$48.8M	13x	as long as short
Variational Omni USELESS	+0.0556%	4h	0.2784	−0.044%	$1.1M	$1.8M	—	as long as short
BloFin USELESS-USDT	+0.0790%	4h	0.2778	−0.276%	$1.2M	$2.1M	12x	as long as short
Orderly PERP_USELESS_USDC	+0.1051%	4h	0.2783	−0.101%	$21K	$1.4M	10x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2947	+5.784%	$5K	$11K	5.5x	as long as short