Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0008%/8h= −0.9% APRpaid last 24h +0.003%

Price spread now: Binance against Extended−0.183%7-day average +0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs−$206as in the Funding arb table

Net, price: spread back to 7d avg − costs−$225as in the Price arb table

costs, in and out, $10k−$2042.044% of the position

Long on Extended Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.013%−$1 on $10k

Price spread, last 4 days (all we have)+0.293%+$29 · spread now −0.183%, 7d avg +0.023%

Together, before fees+0.280%+ Points / potential airdropExtended: Active · farm board+$28 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Binance is 0.207% cheaper against Extended than usual: you would sell low and buy high, −$21 on $10k if it goes back to its 7-day average of +0.023%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended USELESS-USD	0.2821	0.0496	pay 0.0062% / 1h	55m 35s	$297K	$1.2M	5x
Short	Binance USELESSUSDT	0.2815	0.0488	get 0.0244% / 4h	2h 55m	$23.8M	$117.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.183%Rate

Funding earned: −$1.66
Price spread: −0.183% → +0.023%: −$20.65
Slippage, 4 orders: −$189.36
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Binance: 5 bp × 2 orders: −$10
Net: −$226.67
Costs to cover: 2.044%
Break-even: never at this rate

Slippage from Extended: live order book, 3 min ago; Binance: 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, 3 min ago	65.91 bp	83.5 bp −$83	363.9 bp −$3,639	doesn't fit	doesn't fit
Sell Binance live order book, 2 min ago	0.17 bp	19.2 bp −$19	74.9 bp −$749	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	0.2817	−0.120%	$1.3M	$1.1M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2818	−0.075%	$31K	$69K	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0100%	4h	0.2813	−0.266%	$9.9M	$66.7M	10x	as long as short
Gate USELESS_USDT	+0.0100%	4h	0.2819	−0.053%	$7.1M	$8.3M	50x	as long as short
ApeX Omni USELESSUSDT	+0.0100%	1h	0.2834	+0.475%	$39K	$698K	25x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2818	−0.078%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2821	+0.004%	$18K	$514K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2813	−0.280%	$594K	$1.2M	20x	as long as short
KuCoin USELESSUSDTM	+0.0120%	4h	0.2816	−0.159%	$5.2M	$10.2M	12x	as long as short
Aevo USELESS-PERP	+0.0200%	1h	0.2820	−0.005%	$10K	—	3x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance USELESSUSDTshort	+0.0488%	4h	0.2815	−0.183%	$23.8M	$117.4M	50x
edgeX USELESSUSDC	+0.0488%	4h	0.2844	+0.846%	$21K	$193K	10x	as long as short
MEXC USELESS_USDT	+0.0492%	4h	0.2818	−0.110%	$11.0M	$6.0M	50x	as long as short
Extended USELESS-USDlong	+0.0496%	1h	0.2821	long leg	$297K	$1.2M	5x
Polymarket Perps USELESS-USD	+0.0582%	1h	0.2819	−0.060%	$45K	$182K	3x	as long as short
Bitget USELESSUSDT	+0.0586%	4h	0.2816	−0.166%	$5.4M	$9.9M	20x	as long as short
BingX USELESS-USDT	+0.0692%	4h	0.2813	−0.276%	—	$5.1M	—	as long as short
Bybit USELESSUSDT	+0.0829%	4h	0.2815	−0.209%	$27.4M	$46.6M	13x	as long as short
Hyperliquid USELESS	+0.0869%	1h	0.2821	+0.004%	$14.1M	$21.1M	3x	as long as short
Variational Omni USELESS	+0.0962%	4h	0.2815	−0.212%	$1.2M	$1.7M	—	as long as short
BloFin USELESS-USDT	+0.0983%	4h	0.2836	+0.560%	$1.2M	$2.1M	12x	as long as short
Aster USELESSUSDT	+0.1039%	4h	0.2814	−0.232%	$647K	$2.3M	10x	as long as short
Orderly PERP_USELESS_USDC	+0.1239%	4h	0.2818	−0.092%	$22K	$1.4M	10x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.3032	+7.509%	$5K	$9K	5.5x	as long as short