Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0014%/8h= −1.5% APRpaid last 24h +0.005%

Price spread now: edgeX against Extended−0.068%73s7-day average +0.061% · you buy dearer than you sell

Net, funding: paid 7d − costs−$296as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$2922.923% of the position

Long on Extended Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.036%−$4 on $10k

Price spread, last 3 days (all we have)+0.055%+$5 · spread now −0.068%, 7d avg +0.061%

Together, before fees+0.019%+ Points / potential airdropExtended: Active · edgeX: Active · farm board+$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and edgeX is 0.130% cheaper against Extended than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of +0.061%). Swap the legs. The two prices were read 73 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended USELESS-USD	0.2818	0.0504	pay 0.0063% / 1h	30m 07s	$297K	$966K	5x
Short	edgeX USELESSUSDC	0.2816	0.0490	get 0.0245% / 4h	30m 07s	$21K	$192K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.068%Rate

Funding earned: −$2.87
Price spread: −0.068% → +0.061%: −$12.97
Slippage, 4 orders: −$278.3
Fee Extended: 2.5 bp × 2 orders: −$5
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$308.14
Costs to cover: 2.923%
Break-even: never at this rate

Slippage from Extended: live order book, 48 min ago; edgeX: live order book, 47 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, 48 min ago	7.80 bp	72.4 bp −$72	doesn't fit	doesn't fit	doesn't fit
Sell edgeX live order book, 47 min ago	1.28 bp	113.6 bp −$114	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	0.2818	+0.002%	$1.3M	$1.1M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2818	−0.019%	$31K	$70K	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0100%	4h	0.2818	+0.002%	$9.9M	$66.5M	10x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2817	−0.051%	$34K	$157K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2818	+0.009%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2817	−0.058%	$19K	$495K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2811	−0.257%	$569K	$1.2M	20x	as long as short
Aevo USELESS-PERP	+0.0208%	1h	0.2815	−0.100%	$10K	—	3x	as long as short
ApeX Omni USELESSUSDT	+0.0247%	1h	0.2817	−0.044%	$39K	$700K	25x	as long as short
KuCoin USELESSUSDTM	+0.0260%	4h	0.2816	−0.072%	$5.2M	$10.0M	12x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget USELESSUSDT	+0.0330%	4h	0.2818	−0.008%	$5.3M	$9.4M	20x	as long as short
Gate USELESS_USDT	+0.0374%	4h	0.2815	−0.115%	$7.0M	$8.3M	50x	as long as short
edgeX USELESSUSDCshort	+0.0490%	4h	0.2816	−0.068%	$21K	$192K	10x
Extended USELESS-USDlong	+0.0504%	1h	0.2818	long leg	$297K	$966K	5x
Binance USELESSUSDT	+0.0507%	4h	0.2821	+0.102%	$23.7M	$116.1M	50x	as long as short
MEXC USELESS_USDT	+0.0508%	4h	0.2820	+0.056%	$10.4M	$6.0M	50x	as long as short
BingX USELESS-USDT	+0.1010%	4h	0.2820	+0.073%	—	$5.0M	—	as long as short
Bybit USELESSUSDT	+0.1018%	4h	0.2819	+0.034%	$27.8M	$45.7M	13x	as long as short
Aster USELESSUSDT	+0.1102%	4h	0.2814	−0.141%	$647K	$2.3M	10x	as long as short
Variational Omni USELESS	+0.1185%	4h	0.2823	+0.154%	$1.2M	$1.8M	—	as long as short
Orderly PERP_USELESS_USDC	+0.1333%	4h	0.2820	+0.048%	$22K	$1.4M	10x	as long as short
BloFin USELESS-USDT	+0.1360%	4h	0.2822	+0.141%	$1.2M	$2.0M	12x	as long as short
Hyperliquid USELESS	+0.1548%	1h	0.2824	+0.215%	$14.0M	$21.0M	3x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2982	+5.822%	$5K	$9K	5.5x	as long as short