Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0116%/8h= −12.6% APRpaid last 24h −0.100%

Price spread now: Polymarket Perps against edgeX+0.325%7-day average −0.034% · you sell dearer than you buy

Net, funding: paid 7d − costs−$346as in the Funding arb table

Net, price: spread back to 7d avg − costs−$283as in the Price arb table

costs, in and out, $10k−$3193.190% of the position

Long on edgeX Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.266%−$27 on $10k

Price spread, last 4 days (all we have)−0.252%−$25 · spread now +0.325%, 7d avg −0.034%

Together, before fees−0.517%+ Points / potential airdropedgeX: Active · farm board−$52 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Polymarket Perps is 0.360% dearer against edgeX than usual: you sell high and buy low (spread +0.325% now, against its 7-day average of −0.034%): +$36 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 10 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX USELESSUSDC	0.2691	0.0216	pay 0.0108% / 4h	2h 41m	$20K	$195K	10x
Short	Polymarket Perps USELESS-USD	0.2700	0.0100	get 0.0013% / 1h	41m 16s	$26K	$245K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.325%Rate

Funding earned: −$24.26
Price spread: +0.325% → −0.034%: $35.96
Slippage, 4 orders: −$302.01
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$307.31
Costs to cover: 3.190%
Break-even: never at this rate

Slippage from edgeX: live order book, 5 min ago; Polymarket Perps: live order book, 6 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, 5 min ago	0.75 bp	92.1 bp −$92	doesn't fit	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 6 min ago	0.37 bp	75.2 bp −$75	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	0.2696	+0.184%	$1.2M	$1.2M	3x	as long as short
Hyperliquid USELESS	+0.0100%	1h	0.2701	+0.361%	$11.8M	$22.5M	3x	as long as short
Aster USELESSUSDT	+0.0100%	4h	0.2697	+0.226%	$529K	$2.3M	10x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2695	+0.139%	$29K	$18K	3x	as long as short
Polymarket Perps USELESS-USDshort	+0.0100%	1h	0.2700	+0.325%	$26K	$245K	3x
SunX USELESS-USDT	+0.0100%	4h	0.2701	+0.355%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2697	+0.206%	$18K	$519K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2697	+0.232%	$638K	$1.1M	20x	as long as short
Bitget USELESSUSDT	+0.0110%	4h	0.2699	+0.299%	$5.1M	$10.3M	20x	as long as short
OKX USELESS-USDT-SWAP	+0.0121%	4h	0.2700	+0.329%	$9.2M	$65.5M	10x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin USELESSUSDTM	+0.0132%	4h	0.2697	+0.225%	$4.9M	$10.6M	12x	as long as short
Aevo USELESS-PERP	+0.0136%	1h	0.2700	+0.327%	$10K	—	3x	as long as short
edgeX USELESSUSDClong	+0.0216%	4h	0.2691	long leg	$20K	$195K	10x
Extended USELESS-USD	+0.0224%	1h	0.2700	+0.329%	$114K	$1.1M	5x	as long as short
MEXC USELESS_USDT	+0.0226%	4h	0.2701	+0.359%	$10.9M	$6.0M	50x	as long as short
Binance USELESSUSDT	+0.0227%	4h	0.2696	+0.188%	$22.5M	$121.6M	50x	as long as short
BingX USELESS-USDT	+0.0390%	4h	0.2700	+0.310%	—	$5.3M	—	as long as short
Bybit USELESSUSDT	+0.0414%	4h	0.2698	+0.262%	$25.4M	$48.3M	13x	as long as short
Variational Omni USELESS	+0.0499%	4h	0.2676	−0.582%	$1.1M	$1.8M	—	as long as short
Gate USELESS_USDT	+0.0646%	4h	0.2694	+0.117%	$6.7M	$8.5M	50x	as long as short
BloFin USELESS-USDT	+0.0654%	4h	0.2694	+0.099%	$1.1M	$2.0M	12x	as long as short
ApeX Omni USELESSUSDT	+0.0832%	1h	0.2687	−0.158%	$47K	$698K	25x	as long as short
Orderly PERP_USELESS_USDC	+0.1204%	4h	0.2702	+0.381%	$21K	$1.2M	10x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2826	+5.014%	$5K	$11K	5.5x	as long as short