Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0068%/8h= −7.4% APRpaid last 24h −0.024%

Price spread now: Bitget against Extended+0.029%7-day average +0.009% · you sell dearer than you buy

Net, funding: paid 7d − costs−$230as in the Funding arb table

Net, price: spread back to 7d avg − costs−$218as in the Price arb table

costs, in and out, $10k−$2202.201% of the position

Long on Extended Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.101%−$10 on $10k

Price spread, last 4 days (all we have)+0.198%+$20 · spread now +0.029%, 7d avg +0.009%

Together, before fees+0.097%+ Points / potential airdropExtended: Active · farm board+$10 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.020% dearer against Extended than usual: you sell high and buy low (spread +0.029% now, against its 7-day average of +0.009%): +$2 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 24 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended USELESS-USD	0.2860	0.0592	pay 0.0074% / 1h	55m 56s	$301K	$968K	5x
Short	Bitget USELESSUSDT	0.2861	0.0524	get 0.0262% / 4h	1h 55m	$5.5M	$8.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.029%Rate

Funding earned: −$14.28
Price spread: +0.029% → +0.009%: $2
Slippage, 4 orders: −$203.13
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$232.4
Costs to cover: 2.201%
Break-even: never at this rate

Slippage from Extended: live order book, 27 min ago; Bitget: 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, 27 min ago	66.50 bp	84.5 bp −$85	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 2 min ago	2.97 bp	27.8 bp −$28	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	0.2862	+0.046%	$1.3M	$1.1M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2872	+0.396%	$32K	$70K	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0100%	4h	0.2860	−0.016%	$10.1M	$64.6M	10x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2868	+0.260%	$28K	$140K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2865	+0.176%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2867	+0.235%	$20K	$389K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2844	−0.579%	$577K	$1.2M	20x	as long as short
Aevo USELESS-PERP	+0.0232%	1h	0.2863	+0.101%	$10K	—	3x	as long as short
ApeX Omni USELESSUSDT	+0.0270%	1h	0.2851	−0.321%	$41K	$698K	25x	as long as short
KuCoin USELESSUSDTM	+0.0294%	4h	0.2859	−0.037%	$5.3M	$9.7M	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	+0.0326%	4h	0.2858	−0.079%	$7.1M	$7.9M	50x	as long as short
Bitget USELESSUSDTshort	+0.0524%	4h	0.2861	+0.029%	$5.5M	$8.9M	20x
edgeX USELESSUSDC	+0.0571%	4h	0.2869	+0.305%	$21K	$189K	10x	as long as short
MEXC USELESS_USDT	+0.0590%	4h	0.2861	+0.022%	$10.1M	$5.7M	50x	as long as short
Binance USELESSUSDT	+0.0592%	4h	0.2860	−0.013%	$24.3M	$111.1M	50x	as long as short
Extended USELESS-USDlong	+0.0592%	1h	0.2860	long leg	$301K	$968K	5x
Orderly PERP_USELESS_USDC	+0.1225%	4h	0.2863	+0.081%	$22K	$1.4M	10x	as long as short
Hyperliquid USELESS	+0.1272%	1h	0.2864	+0.148%	$14.7M	$19.8M	3x	as long as short
Aster USELESSUSDT	+0.1282%	4h	0.2859	−0.051%	$662K	$2.2M	10x	as long as short
BingX USELESS-USDT	+0.1354%	4h	0.2860	−0.009%	—	$4.9M	—	as long as short
Variational Omni USELESS	+0.1422%	4h	0.2857	−0.108%	$1.2M	$1.8M	—	as long as short
Bybit USELESSUSDT	+0.1440%	4h	0.2864	+0.123%	$29.0M	$43.2M	13x	as long as short
BloFin USELESS-USDT	+0.1853%	4h	0.2861	+0.043%	$1.2M	$1.9M	12x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.3032	+6.011%	$5K	$9K	5.5x	as long as short