Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0318%/8h= −34.8% APRpaid last 24h −0.044%

Price spread now: Aevo against Bitget+0.091%7-day average — · you sell dearer than you buy

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

Long on Bitget 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

The price spread pays, funding is against you. Aevo is 0.091% dearer against Bitget than usual: you sell high and buy low (spread +0.091% now, against zero (this spread has no 7-day history yet)): +$9 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 23 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget USELESSUSDT	0.2740	0.0550	pay 0.0275% / 4h	1h 19m	$5.3M	$9.9M	20x
Short	Aevo USELESS-PERP	0.2743	0.0232	get 0.0029% / 1h	19m 32s	$10K	—	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Bitget. 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 BitgetbpFee AevobpOrdersPrice spread, now +0.091%Rate

Funding earned: −$66.78
Price spread: +0.091% → 0.000%: $9.12
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$85.66
Costs to cover: 0.280%
Break-even: never at this rate

Slippage unknown: Bitget: 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 Bitget live order book, 4 min ago	5.30 bp	27.2 bp −$27	88.8 bp −$888	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	0.2739	−0.029%	$1.2M	$1.2M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2739	−0.051%	$30K	$70K	3x	as long as short
Gate USELESS_USDT	+0.0100%	4h	0.2739	−0.051%	$6.9M	$8.6M	50x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2746	+0.219%	$38K	$215K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2743	+0.091%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2747	+0.245%	$18K	$511K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2738	−0.080%	$604K	$1.1M	20x	as long as short
OKX USELESS-USDT-SWAP	+0.0206%	4h	0.2742	+0.077%	$9.6M	$64.4M	10x	as long as short
Aevo USELESS-PERPshort	+0.0232%	1h	0.2743	+0.091%	$10K	—	3x
ApeX Omni USELESSUSDT	+0.0238%	1h	0.2754	+0.507%	$38K	$695K	25x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin USELESSUSDTM	+0.0274%	4h	0.2739	−0.026%	$5.0M	$10.4M	12x	as long as short
Bitget USELESSUSDTlong	+0.0550%	4h	0.2740	long leg	$5.3M	$9.9M	20x
edgeX USELESSUSDC	+0.0604%	4h	0.2754	+0.499%	$20K	$195K	10x	as long as short
MEXC USELESS_USDT	+0.0622%	4h	0.2739	−0.029%	$10.8M	$6.0M	50x	as long as short
Binance USELESSUSDT	+0.0624%	4h	0.2740	−0.014%	$23.2M	$118.0M	50x	as long as short
Extended USELESS-USD	+0.0624%	1h	0.2737	−0.123%	$289K	$1.1M	5x	as long as short
Hyperliquid USELESS	+0.0699%	1h	0.2740	−0.011%	$13.4M	$20.9M	3x	as long as short
BingX USELESS-USDT	+0.0890%	4h	0.2744	+0.146%	—	$5.2M	—	as long as short
Bybit USELESSUSDT	+0.0983%	4h	0.2741	+0.015%	$26.5M	$46.5M	13x	as long as short
Variational Omni USELESS	+0.1034%	4h	0.2753	+0.483%	$1.2M	$1.7M	—	as long as short
Aster USELESSUSDT	+0.1060%	4h	0.2740	+0.007%	$577K	$2.2M	10x	as long as short
BloFin USELESS-USDT	+0.1280%	4h	0.2753	+0.489%	$1.2M	$2.0M	12x	as long as short
Orderly PERP_USELESS_USDC	+0.1390%	4h	0.2744	+0.142%	$21K	$1.3M	10x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2892	+5.547%	$5K	$9K	5.5x	as long as short