Funding arb · Price arb /

USELESS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.4397%/8h= +481.4% APRpaid last 24h −0.646%

Price spread now: Injective against edgeX+6.133%7-day average — · you sell dearer than you buy

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

Long on edgeX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropedgeX: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$132 a day on $10k at the current rate, and Injective is 6.133% dearer against edgeX than usual: you sell high and buy low: +$613 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX USELESSUSDC	0.2740	0.0603	pay 0.0302% / 4h	1h 17m	$20K	$196K	10x
Short	Injective USELESS/USDC PERP	0.2908	0.5000	get 0.0625% / 1h	17m 11s	$5K	$9K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +6.133%Rate

Funding earned: $923.32
Price spread: +6.133% → 0.000%: $613.3
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $1,527.6
Costs to cover: 0.090%
Break-even: from the start

Slippage unknown: edgeX: live order book, 44 min ago; Injective: 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 edgeX live order book, 44 min ago	1.42 bp	99.3 bp −$99	doesn't fit	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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	0.2737	−0.122%	$1.2M	$1.2M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2747	+0.247%	$30K	$70K	3x	as long as short
Gate USELESS_USDT	+0.0100%	4h	0.2739	−0.038%	$6.9M	$8.6M	50x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2745	+0.167%	$39K	$216K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2748	+0.280%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2746	+0.214%	$18K	$511K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2741	+0.028%	$606K	$1.1M	20x	as long as short
OKX USELESS-USDT-SWAP	+0.0207%	4h	0.2741	+0.010%	$9.7M	$64.4M	10x	as long as short
ApeX Omni USELESSUSDT	+0.0238%	1h	0.2754	+0.499%	$38K	$695K	25x	as long as short
Aevo USELESS-PERP	+0.0240%	1h	0.2740	−0.003%	$10K	—	3x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin USELESSUSDTM	+0.0280%	4h	0.2743	+0.108%	$5.0M	$10.4M	12x	as long as short
Bitget USELESSUSDT	+0.0548%	4h	0.2739	−0.052%	$5.3M	$9.9M	20x	as long as short
edgeX USELESSUSDClong	+0.0603%	4h	0.2740	long leg	$20K	$196K	10x
MEXC USELESS_USDT	+0.0614%	4h	0.2740	−0.020%	$10.9M	$6.0M	50x	as long as short
Binance USELESSUSDT	+0.0616%	4h	0.2740	+0.004%	$23.2M	$118.0M	50x	as long as short
Extended USELESS-USD	+0.0616%	1h	0.2739	−0.063%	$289K	$1.1M	5x	as long as short
Hyperliquid USELESS	+0.0682%	1h	0.2740	+0.002%	$13.4M	$20.9M	3x	as long as short
BingX USELESS-USDT	+0.0934%	4h	0.2744	+0.148%	—	$5.2M	—	as long as short
Bybit USELESSUSDT	+0.0974%	4h	0.2741	+0.013%	$26.4M	$46.5M	13x	as long as short
Variational Omni USELESS	+0.1034%	4h	0.2753	+0.475%	$1.2M	$1.7M	—	as long as short
Aster USELESSUSDT	+0.1044%	4h	0.2740	−0.001%	$577K	$2.2M	10x	as long as short
BloFin USELESS-USDT	+0.1267%	4h	0.2737	−0.107%	$1.2M	$2.0M	12x	as long as short
Orderly PERP_USELESS_USDC	+0.1390%	4h	0.2741	+0.021%	$21K	$1.3M	10x	as long as short
Injective USELESS/USDC PERPshort	+0.5000%	1h	0.2908	+6.133%	$5K	$9K	5.5x