Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0051%/8h= +5.6% APRpaid last 24h +0.117%

Price spread now: Aster against Extended+0.188%7-day average +0.049% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$140as in the Price arb table

costs, in and out, $10k−$1541.544% of the position

Long on Extended Short on Aster

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.348%+$35 on $10k

Price spread, last 7 days−0.377%−$38 · spread now +0.188%, 7d avg +0.049%

Together, before fees−0.029%+ Points / potential airdropExtended: Active · Aster: Stage 5 · farm board−$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Aster is 0.139% dearer against Extended than usual: you sell high and buy low: +$14 more if the spread goes back to its 7-day average of +0.049%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended USELESS-USD	0.2559	0.0464	pay 0.0058% / 1h	31m 36s	$113K	$1.2M	5x
Short	Aster USELESSUSDT	0.2564	0.0515	get 0.0258% / 4h	31m 36s	$508K	$2.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Extended. 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 ExtendedbpFee AsterbpOrdersPrice spread, now +0.188%Rate

Funding earned: $10.81
Price spread: +0.188% → +0.049%: $13.93
Slippage, 4 orders: −$141.4
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Aster: 4 bp × 2 orders: −$8
Net: −$129.66
Costs to cover: 1.544%
Break-even: 91.0 days

Slippage from Extended: live order book, 2 min ago; Aster: live order book, 2 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 Extended live order book, 2 min ago	6.80 bp	38.4 bp −$38	360.0 bp −$3,600	doesn't fit	doesn't fit
Sell Aster live order book, 2 min ago	9.74 bp	23.6 bp −$24	162.5 bp −$1,625	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	0.2560	+0.017%	$1.2M	$1.2M	3x	as long as short
Hyperliquid USELESS	+0.0100%	1h	0.2563	+0.142%	$11.4M	$22.8M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2562	+0.122%	$28K	$70K	3x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2565	+0.224%	$34K	$221K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2563	+0.142%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2557	−0.069%	$17K	$520K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2563	+0.157%	$575K	$1.1M	20x	as long as short
Aevo USELESS-PERP	+0.0200%	1h	0.2560	+0.037%	$9K	—	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0209%	4h	0.2560	+0.020%	$8.8M	$62.9M	10x	as long as short
Gate USELESS_USDT	+0.0224%	4h	0.2557	−0.093%	$6.4M	$8.7M	50x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin USELESSUSDTM	+0.0234%	4h	0.2563	+0.157%	$4.6M	$10.7M	12x	as long as short
Bitget USELESSUSDT	+0.0360%	4h	0.2560	+0.056%	$4.9M	$10.4M	20x	as long as short
ApeX Omni USELESSUSDT	+0.0420%	1h	0.2558	−0.042%	$33K	$693K	25x	as long as short
edgeX USELESSUSDC	+0.0458%	4h	0.2553	−0.233%	$19K	$196K	10x	as long as short
Extended USELESS-USDlong	+0.0464%	1h	0.2559	long leg	$113K	$1.2M	5x
MEXC USELESS_USDT	+0.0464%	4h	0.2563	+0.153%	$10.3M	$6.2M	50x	as long as short
Binance USELESSUSDT	+0.0465%	4h	0.2560	+0.044%	$21.3M	$123.2M	50x	as long as short
Aster USELESSUSDTshort	+0.0515%	4h	0.2564	+0.188%	$508K	$2.4M	10x
Bybit USELESSUSDT	+0.0543%	4h	0.2559	+0.013%	$24.5M	$48.7M	13x	as long as short
BingX USELESS-USDT	+0.0574%	4h	0.2560	+0.024%	—	$5.3M	—	as long as short
Variational Omni USELESS	+0.0751%	4h	0.2540	−0.734%	$1.0M	$1.8M	—	as long as short
BloFin USELESS-USDT	+0.0804%	4h	0.2565	+0.212%	$1.1M	$1.9M	12x	as long as short
Orderly PERP_USELESS_USDC	+0.1324%	4h	0.2564	+0.196%	$19K	$1.2M	10x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2704	+5.671%	$5K	$11K	5.5x	as long as short