Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0277%/8h= +30.3% APRpaid last 24h −0.072%

Price spread now: ApeX Omni against edgeX+0.174%7-day average −0.038% · you sell dearer than you buy

Net, funding: paid 7d − costs−$225as in the Funding arb table

Net, price: spread back to 7d avg − costs−$191as in the Price arb table

costs, in and out, $10k−$2122.120% of the position

Long on edgeX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.126%−$13 on $10k

Price spread, last 4 days (all we have)−0.488%−$49 · spread now +0.174%, 7d avg −0.038%

Together, before fees−0.614%+ Points / potential airdropedgeX: Active · farm board−$61 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and ApeX Omni is 0.213% dearer against edgeX than usual: you sell high and buy low: +$21 more if the spread goes back to its 7-day average of −0.038%. Mind the row above: over the last 7 days funding on this pair cost −0.126%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.126% in total (about -6.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX USELESSUSDC	0.2821	0.0550	pay 0.0275% / 4h	2h 28m	$21K	$195K	10x
Short	ApeX Omni USELESSUSDT	0.2826	0.0827	get 0.0103% / 1h	28m 28s	$39K	$699K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against edgeX. 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 edgeXbpFee ApeX OmnibpOrdersPrice spread, now +0.174%Rate

Funding earned: $58.2
Price spread: +0.174% → −0.038%: $21.26
Slippage, 4 orders: −$193.01
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$132.55
Costs to cover: 2.120%
Break-even: 22.9 days

Slippage from edgeX: live order book, 38 min ago; ApeX Omni: live order book, 40 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 edgeX live order book, 38 min ago	0.86 bp	33.8 bp −$34	doesn't fit	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 40 min ago	5.18 bp	13.6 bp −$14	107.9 bp −$1,079	doesn't fit	doesn't fit

USELESS on 23 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	0.2817	−0.163%	$1.3M	$1.2M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2818	−0.116%	$31K	$70K	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0100%	4h	0.2822	+0.043%	$10.0M	$66.7M	10x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2820	−0.049%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2814	−0.262%	$18K	$519K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2798	−0.822%	$601K	$1.2M	20x	as long as short
KuCoin USELESSUSDTM	+0.0134%	4h	0.2811	−0.350%	$5.2M	$10.3M	12x	as long as short
Gate USELESS_USDT	+0.0140%	4h	0.2817	−0.148%	$7.1M	$8.4M	50x	as long as short
Aevo USELESS-PERP	+0.0216%	1h	0.2806	−0.550%	$10K	—	3x	as long as short
Polymarket Perps USELESS-USD	+0.0538%	1h	0.2824	+0.107%	$31K	$198K	3x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC USELESS_USDT	+0.0540%	4h	0.2821	0.000%	$11.0M	$6.0M	50x	as long as short
Binance USELESSUSDT	+0.0541%	4h	0.2823	+0.050%	$23.9M	$117.5M	50x	as long as short
Extended USELESS-USD	+0.0544%	1h	0.2822	+0.033%	$302K	$1.2M	5x	as long as short
edgeX USELESSUSDClong	+0.0550%	4h	0.2821	long leg	$21K	$195K	10x
Bitget USELESSUSDT	+0.0572%	4h	0.2822	+0.039%	$5.4M	$9.9M	20x	as long as short
BingX USELESS-USDT	+0.0632%	4h	0.2826	+0.174%	—	$5.1M	—	as long as short
Bybit USELESSUSDT	+0.0647%	4h	0.2820	−0.042%	$27.4M	$46.5M	13x	as long as short
ApeX Omni USELESSUSDTshort	+0.0827%	1h	0.2826	+0.174%	$39K	$699K	25x
Variational Omni USELESS	+0.0851%	4h	0.2824	+0.090%	$1.2M	$1.7M	—	as long as short
Aster USELESSUSDT	+0.1053%	4h	0.2812	−0.305%	$646K	$2.3M	10x	as long as short
Orderly PERP_USELESS_USDC	+0.1269%	4h	0.2809	−0.439%	$22K	$1.4M	10x	as long as short
Hyperliquid USELESS	+0.1322%	1h	0.2822	+0.039%	$14.1M	$20.9M	3x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2984	+5.768%	$5K	$9K	5.5x	as long as short