Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0012%/8h= +1.3% APRpaid last 24h −0.003%

Price spread now: Extended against edgeX−0.107%7-day average −0.075% · you buy dearer than you sell

Net, funding: paid 7d − costs−$362as in the Funding arb table

Net, price: spread back to 7d avg − costs−$368as in the Price arb table

costs, in and out, $10k−$3653.647% of the position

Long on edgeX Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.031%+$3 on $10k

Price spread, last 3 days (all we have)+0.182%+$18 · spread now −0.107%, 7d avg −0.075%

Together, before fees+0.212%+ Points / potential airdropedgeX: Active · Extended: Active · farm board+$21 on $10k · with fees, hour by hour

Funding pays, the price is against you. Extended is 0.033% cheaper against edgeX than usual: you would sell low and buy high (spread −0.107% now, against its 7-day average of −0.075%). If the spread goes back, that is −$3 on $10k: about 9.3 days of funding at the current rate ($0 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX USELESSUSDC	0.2737	0.0492	pay 0.0246% / 4h	1h 23m	$20K	$191K	10x
Short	Extended USELESS-USD	0.2734	0.0504	get 0.0063% / 1h	23m 00s	$287K	$965K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.107%Rate

Funding earned: $2.46
Price spread: −0.107% → −0.075%: −$3.27
Slippage, 4 orders: −$350.68
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$365.49
Costs to cover: 3.647%
Break-even: 1048.3 days

Slippage from edgeX: live order book, 59 min ago; Extended: live order book, 60 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, 59 min ago	1.53 bp	34.5 bp −$34	doesn't fit	doesn't fit	doesn't fit
Sell Extended live order book, 60 min ago	66.50 bp	85.1 bp −$85	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	0.2734	−0.121%	$1.3M	$1.1M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2738	+0.025%	$30K	$70K	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0100%	4h	0.2734	−0.139%	$9.6M	$63.1M	10x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2740	+0.084%	$26K	$145K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2739	+0.055%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2742	+0.157%	$18K	$488K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2727	−0.398%	$559K	$1.2M	20x	as long as short
ApeX Omni USELESSUSDT	+0.0198%	1h	0.2735	−0.088%	$38K	$699K	25x	as long as short
Aevo USELESS-PERP	+0.0208%	1h	0.2734	−0.117%	$10K	—	3x	as long as short
KuCoin USELESSUSDTM	+0.0330%	4h	0.2733	−0.165%	$5.1M	$9.8M	12x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate USELESS_USDT	+0.0380%	4h	0.2733	−0.150%	$6.9M	$8.0M	50x	as long as short
edgeX USELESSUSDClong	+0.0492%	4h	0.2737	long leg	$20K	$191K	10x
MEXC USELESS_USDT	+0.0498%	4h	0.2735	−0.103%	$9.9M	$5.9M	50x	as long as short
Binance USELESSUSDT	+0.0501%	4h	0.2734	−0.110%	$23.1M	$113.5M	50x	as long as short
Extended USELESS-USDshort	+0.0504%	1h	0.2734	−0.107%	$287K	$965K	5x
Bitget USELESSUSDT	+0.0520%	4h	0.2732	−0.179%	$5.2M	$9.1M	20x	as long as short
Hyperliquid USELESS	+0.0912%	1h	0.2735	−0.081%	$13.3M	$20.5M	3x	as long as short
Aster USELESSUSDT	+0.1137%	4h	0.2733	−0.160%	$641K	$2.2M	10x	as long as short
Orderly PERP_USELESS_USDC	+0.1255%	4h	0.2739	+0.066%	$21K	$1.4M	10x	as long as short
BingX USELESS-USDT	+0.1294%	4h	0.2737	−0.015%	—	$5.0M	—	as long as short
Bybit USELESSUSDT	+0.1381%	4h	0.2737	−0.008%	$27.4M	$44.6M	13x	as long as short
Variational Omni USELESS	+0.1473%	4h	0.2741	+0.142%	$1.1M	$1.8M	—	as long as short
BloFin USELESS-USDT	+0.1771%	4h	0.2734	−0.124%	$1.2M	$1.9M	12x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2934	+7.182%	$5K	$9K	5.5x	as long as short