Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.058%

Price spread now: Polymarket Perps against Bitget+0.265%50s7-day average +0.046% · you sell dearer than you buy

Net, funding: paid 7d − costs−$188as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1701.704% of the position

Long on Bitget Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.175%−$17 on $10k

Price spread, last 7 days−0.327%−$33 · spread now +0.265%, 7d avg +0.046%

Together, before fees−0.502%−$50 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Polymarket Perps is 0.219% dearer against Bitget than usual: you sell high and buy low, +$22 on $10k if it goes back to its 7-day average of +0.046%. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget USELESSUSDT	0.2754	0.0100	pay 0.0050% / 4h	2h 00m	$5.3M	$10.4M	20x
Short	Polymarket Perps USELESS-USD	0.2761	0.0100	get 0.0013% / 1h	0m 40s	$26K	$256K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.265%Rate

Funding earned: $0
Price spread: +0.265% → +0.046%: $21.88
Slippage, 4 orders: −$150.39
Fee Bitget: 6 bp × 2 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$148.51
Costs to cover: 1.704%
Break-even: never at this rate

Slippage from Bitget: live order book, 3 min ago; Polymarket Perps: live order book, 46 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 Bitget live order book, 3 min ago	5.63 bp	14.9 bp −$15	84.4 bp −$844	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 46 min ago	0.37 bp	75.2 bp −$75	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	0.2755	+0.047%	$1.3M	$1.2M	3x	as long as short
Hyperliquid USELESS	+0.0100%	1h	0.2761	+0.251%	$12.0M	$23.3M	3x	as long as short
Aster USELESSUSDT	+0.0100%	4h	0.2758	+0.145%	$540K	$2.1M	10x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2758	+0.139%	$29K	$19K	3x	as long as short
Bitget USELESSUSDTlong	+0.0100%	4h	0.2754	long leg	$5.3M	$10.4M	20x
Polymarket Perps USELESS-USDshort	+0.0100%	1h	0.2761	+0.265%	$26K	$256K	3x
SunX USELESS-USDT	+0.0100%	4h	0.2763	+0.338%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2764	+0.381%	$19K	$517K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2761	+0.254%	$646K	$1.2M	20x	as long as short
KuCoin USELESSUSDTM	+0.0110%	4h	0.2758	+0.145%	$5.0M	$10.6M	12x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo USELESS-PERP	+0.0144%	1h	0.2761	+0.256%	$10K	—	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0174%	4h	0.2755	+0.044%	$9.5M	$67.9M	10x	as long as short
edgeX USELESSUSDC	+0.0236%	4h	0.2756	+0.079%	$21K	$197K	10x	as long as short
MEXC USELESS_USDT	+0.0238%	4h	0.2757	+0.131%	$11.2M	$6.1M	50x	as long as short
Binance USELESSUSDT	+0.0238%	4h	0.2757	+0.113%	$22.9M	$123.0M	50x	as long as short
Extended USELESS-USD	+0.0240%	1h	0.2756	+0.089%	$138K	$1.2M	5x	as long as short
Gate USELESS_USDT	+0.0362%	4h	0.2756	+0.084%	$6.9M	$8.7M	50x	as long as short
BingX USELESS-USDT	+0.0450%	4h	0.2755	+0.047%	—	$5.3M	—	as long as short
Bybit USELESSUSDT	+0.0462%	4h	0.2757	+0.094%	$25.9M	$48.6M	13x	as long as short
Variational Omni USELESS	+0.0486%	4h	0.2761	+0.261%	$1.0M	$1.8M	—	as long as short
ApeX Omni USELESSUSDT	+0.0551%	1h	0.2774	+0.730%	$49K	$701K	25x	as long as short
BloFin USELESS-USDT	+0.0697%	4h	0.2763	+0.330%	$1.2M	$2.1M	12x	as long as short
Orderly PERP_USELESS_USDC	+0.1096%	4h	0.2760	+0.236%	$21K	$1.3M	10x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2826	+2.625%	$5K	$11K	5.5x	as long as short