Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0075%/8h= +8.2% APRpaid last 24h −0.185%

Price spread now: ApeX Omni against BloFin+0.526%7-day average −0.029% · you sell dearer than you buy

Net, funding: paid 7d − costs−$121as in the Funding arb table

Net, price: spread back to 7d avg − costs+$6as in the Price arb table

costs, in and out, $10k−$500.497% of the position

Long on BloFin Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.712%−$71 on $10k

Price spread, last 3 days (all we have)−0.445%−$45 · spread now +0.526%, 7d avg −0.029%

Together, before fees−1.157%−$116 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and ApeX Omni is 0.554% dearer against BloFin than usual: you sell high and buy low: +$55 more if the spread goes back to its 7-day average of −0.029%. Mind the row above: over the last 7 days funding on this pair cost −0.712%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin USELESS-USDT	0.2835	0.0886	pay 0.0443% / 4h	2h 48m	$1.2M	$2.1M	12x
Short	ApeX Omni USELESSUSDT	0.2850	0.0961	get 0.0120% / 1h	48m 32s	$39K	$700K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against BloFin. 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 BloFinbpFee ApeX OmnibpOrdersPrice spread, now +0.526%Rate

Funding earned: $15.72
Price spread: +0.526% → −0.029%: $55.41
Slippage, 4 orders: −$27.74
Fee BloFin: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: $21.39
Costs to cover: 0.497%
Break-even: from the start

Slippage from BloFin: live order book, 4 min ago; ApeX Omni: live order book, 20 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 BloFin live order book, 4 min ago	1.76 bp	7.8 bp −$8	36.4 bp −$364	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 20 min ago	5.18 bp	13.6 bp −$14	107.9 bp −$1,079	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	0.2843	+0.296%	$1.3M	$1.1M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2843	+0.296%	$32K	$69K	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0100%	4h	0.2845	+0.349%	$10.0M	$67.5M	10x	as long as short
KuCoin USELESSUSDTM	+0.0100%	4h	0.2845	+0.346%	$5.2M	$10.2M	12x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2833	−0.071%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2836	+0.042%	$19K	$515K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2831	−0.152%	$598K	$1.2M	20x	as long as short
Gate USELESS_USDT	+0.0178%	4h	0.2844	+0.328%	$7.1M	$8.3M	50x	as long as short
Aevo USELESS-PERP	+0.0208%	1h	0.2835	−0.002%	$10K	—	3x	as long as short
edgeX USELESSUSDC	+0.0470%	4h	0.2832	−0.104%	$21K	$194K	10x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended USELESS-USD	+0.0512%	1h	0.2850	+0.523%	$300K	$1.2M	5x	as long as short
MEXC USELESS_USDT	+0.0512%	4h	0.2847	+0.406%	$11.1M	$6.0M	50x	as long as short
Binance USELESSUSDT	+0.0516%	4h	0.2847	+0.409%	$24.1M	$117.6M	50x	as long as short
Bitget USELESSUSDT	+0.0578%	4h	0.2841	+0.208%	$5.4M	$9.9M	20x	as long as short
Bybit USELESSUSDT	+0.0621%	4h	0.2846	+0.381%	$27.7M	$46.7M	13x	as long as short
Polymarket Perps USELESS-USD	+0.0678%	1h	0.2848	+0.459%	$43K	$185K	3x	as long as short
BingX USELESS-USDT	+0.0744%	4h	0.2847	+0.427%	—	$5.1M	—	as long as short
BloFin USELESS-USDTlong	+0.0886%	4h	0.2835	long leg	$1.2M	$2.1M	12x
Variational Omni USELESS	+0.0917%	4h	0.2853	+0.614%	$1.2M	$1.7M	—	as long as short
ApeX Omni USELESSUSDTshort	+0.0961%	1h	0.2850	+0.526%	$39K	$700K	25x
Aster USELESSUSDT	+0.1051%	4h	0.2845	+0.345%	$654K	$2.3M	10x	as long as short
Hyperliquid USELESS	+0.1215%	1h	0.2846	+0.374%	$14.2M	$21.1M	3x	as long as short
Orderly PERP_USELESS_USDC	+0.1257%	4h	0.2835	−0.018%	$22K	$1.4M	10x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.3027	+6.758%	$5K	$9K	5.5x	as long as short