Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.1286%/8h= −140.8% APRpaid last 24h −0.102%

Price spread now: Aevo against Bybit+0.178%7-day average — · you sell dearer than you buy

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

Long on Bybit 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 0.178% dearer against Bybit than usual: you sell high and buy low (spread +0.178% now, against zero (this spread has no 7-day history yet)): +$18 on $10k if it goes back. Holding the pair costs −$39 a day in funding at the current rate, which eats that in about 11 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit USELESSUSDT	0.2974	0.1542	pay 0.0771% / 4h	2h 56m	$30.0M	$42.2M	13x
Short	Aevo USELESS-PERP	0.2979	0.0256	get 0.0032% / 1h	56m 41s	$11K	—	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Bybit. 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 BybitbpFee AevobpOrdersPrice spread, now +0.178%Rate

Funding earned: −$270
Price spread: +0.178% → 0.000%: $17.82
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$279.18
Costs to cover: 0.270%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 2 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 Bybit live order book, 2 min ago	2.69 bp	19.1 bp −$19	81.5 bp −$815	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	0.2975	+0.037%	$1.4M	$1.1M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2977	+0.110%	$33K	$70K	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0100%	4h	0.2969	−0.188%	$10.6M	$66.2M	10x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2972	−0.091%	$28K	$130K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2976	+0.057%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2971	−0.121%	$20K	$375K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2973	−0.044%	$591K	$1.3M	20x	as long as short
KuCoin USELESSUSDTM	+0.0142%	4h	0.2973	−0.037%	$5.5M	$9.5M	12x	as long as short
Aevo USELESS-PERPshort	+0.0256%	1h	0.2979	+0.178%	$11K	—	3x
Gate USELESS_USDT	+0.0336%	4h	0.2970	−0.155%	$7.4M	$7.6M	50x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni USELESSUSDT	+0.0436%	1h	0.2967	−0.242%	$42K	$698K	25x	as long as short
Bitget USELESSUSDT	+0.0582%	4h	0.2967	−0.229%	$5.6M	$8.7M	20x	as long as short
edgeX USELESSUSDC	+0.0696%	4h	0.2971	−0.104%	$22K	$188K	10x	as long as short
Extended USELESS-USD	+0.0696%	1h	0.2973	−0.039%	$313K	$967K	5x	as long as short
MEXC USELESS_USDT	+0.0698%	4h	0.2979	+0.168%	$21.9M	$5.7M	50x	as long as short
Binance USELESSUSDT	+0.0698%	4h	0.2975	+0.013%	$25.9M	$108.2M	50x	as long as short
Orderly PERP_USELESS_USDC	+0.1121%	4h	0.2977	+0.087%	$22K	$1.4M	10x	as long as short
Variational Omni USELESS	+0.1162%	4h	0.2965	−0.325%	$1.2M	$1.7M	—	as long as short
Aster USELESSUSDT	+0.1388%	4h	0.2983	+0.301%	$693K	$2.1M	10x	as long as short
BingX USELESS-USDT	+0.1486%	4h	0.2969	−0.161%	—	$4.9M	—	as long as short
Bybit USELESSUSDTlong	+0.1542%	4h	0.2974	long leg	$30.0M	$42.2M	13x
Hyperliquid USELESS	+0.1790%	1h	0.2982	+0.276%	$15.2M	$19.7M	3x	as long as short
BloFin USELESS-USDT	+0.2155%	4h	0.2980	+0.195%	$1.3M	$2.1M	12x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.3151	+5.955%	$5K	$10K	5.5x	as long as short