Funding arb · Price arb /

USELESS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0234%/8h= −25.6% APRpaid last 24h −0.074%

Price spread now: Pacifica against Bitget−0.257%7-day average — · you buy dearer than you sell

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

Long on Bitget Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days−0.207%−$21 on $10k

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

Together, before fees—+ Points / potential airdropPacifica: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Pacifica is 0.257% cheaper against Bitget than usual: you would sell low and buy high (−$26 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	Bitget USELESSUSDT	0.2801	0.0334	pay 0.0167% / 4h	3h 49m	$5.3M	$9.5M	20x
Short	Pacifica USELESS	0.2794	0.0100	get 0.0013% / 1h	49m 38s	$31K	$70K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now −0.257%Rate

Funding earned: −$49.14
Price spread: −0.257% → 0.000%: −$25.71
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$94.85
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 4 min ago; Pacifica: 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	5.54 bp	23.0 bp −$23	doesn't fit	doesn't fit	doesn't fit
Sell Pacifica no order-book sample	—	—	—	—	—

Pacifica: 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	0.2797	−0.150%	$1.3M	$1.1M	3x	as long as short
Pacifica USELESSshort	+0.0100%	1h	0.2794	−0.257%	$31K	$70K	3x
OKX USELESS-USDT-SWAP	+0.0100%	4h	0.2796	−0.161%	$9.8M	$65.8M	10x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2793	−0.282%	$44K	$168K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2795	−0.207%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2788	−0.461%	$18K	$503K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2783	−0.625%	$583K	$1.2M	20x	as long as short
Aevo USELESS-PERP	+0.0192%	1h	0.2794	−0.248%	$10K	—	3x	as long as short
KuCoin USELESSUSDTM	+0.0198%	4h	0.2790	−0.375%	$5.1M	$10.1M	12x	as long as short
Bitget USELESSUSDTlong	+0.0334%	4h	0.2801	long leg	$5.3M	$9.5M	20x

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni USELESSUSDT	+0.0434%	1h	0.2789	−0.421%	$39K	$703K	25x	as long as short
Extended USELESS-USD	+0.0456%	1h	0.2797	−0.127%	$295K	$957K	5x	as long as short
MEXC USELESS_USDT	+0.0456%	4h	0.2799	−0.061%	$10.5M	$5.9M	50x	as long as short
edgeX USELESSUSDC	+0.0466%	4h	0.2794	−0.258%	$21K	$193K	10x	as long as short
Binance USELESSUSDT	+0.0468%	4h	0.2797	−0.139%	$23.6M	$116.2M	50x	as long as short
Gate USELESS_USDT	+0.0544%	4h	0.2795	−0.218%	$7.0M	$8.2M	50x	as long as short
Aster USELESSUSDT	+0.1010%	4h	0.2793	−0.277%	$641K	$2.3M	10x	as long as short
Variational Omni USELESS	+0.1015%	4h	0.2792	−0.324%	$1.2M	$1.7M	—	as long as short
BingX USELESS-USDT	+0.1044%	4h	0.2797	−0.129%	—	$5.0M	—	as long as short
Orderly PERP_USELESS_USDC	+0.1297%	4h	0.2794	−0.239%	$22K	$1.4M	10x	as long as short
Hyperliquid USELESS	+0.1300%	1h	0.2799	−0.068%	$14.0M	$21.1M	3x	as long as short
BloFin USELESS-USDT	+0.1624%	4h	0.2794	−0.236%	$1.2M	$2.0M	12x	as long as short
Bybit USELESSUSDT	+0.2034%	4h	0.2796	−0.189%	$27.4M	$45.9M	13x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2960	+5.670%	$5K	$9K	5.5x	as long as short