Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0412%/8h= −45.1% APRpaid last 24h −0.111%

Price spread now: SunX against Extended−0.105%7-day average +0.049% · you buy dearer than you sell

Net, funding: paid 7d − costs−$245as in the Funding arb table

Net, price: spread back to 7d avg − costs−$237as in the Price arb table

costs, in and out, $10k−$2222.219% of the position

Long on Extended Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.229%−$23 on $10k

Price spread, last 3 days (all we have)−0.159%−$16 · spread now −0.105%, 7d avg +0.049%

Together, before fees−0.389%+ Points / potential airdropExtended: Active · farm board−$39 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and SunX is 0.154% cheaper against Extended than usual: you would sell low and buy high (−$15 if the spread goes back to its 7-day average of +0.049%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.229% in total (about -12.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended USELESS-USD	0.2822	0.0512	pay 0.0064% / 1h	28m 28s	$297K	$966K	5x
Short	SunX USELESS-USDT	0.2819	0.0100	get 0.0050% / 4h	28m 28s	—	$1.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.105%Rate

Funding earned: −$86.52
Price spread: −0.105% → +0.049%: −$15.39
Slippage, 4 orders: −$208.92
Fee Extended: 2.5 bp × 2 orders: −$5
Fee SunX: 4 bp × 2 orders: −$8
Net: −$323.83
Costs to cover: 2.219%
Break-even: never at this rate

Slippage from Extended: live order book, 50 min ago; SunX: 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 Extended live order book, 50 min ago	7.80 bp	72.4 bp −$72	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 6 min ago	44.86 bp	64.2 bp −$64	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	0.2819	−0.101%	$1.3M	$1.1M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2822	+0.011%	$32K	$70K	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0100%	4h	0.2815	−0.250%	$9.9M	$66.4M	10x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2819	−0.105%	$35K	$157K	3x	as long as short
SunX USELESS-USDTshort	+0.0100%	4h	0.2819	−0.105%	—	$1.4M	10x
HTX USELESS-USDT	+0.0100%	4h	0.2811	−0.381%	$18K	$495K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2819	−0.105%	$571K	$1.2M	20x	as long as short
Aevo USELESS-PERP	+0.0208%	1h	0.2820	−0.067%	$10K	—	3x	as long as short
ApeX Omni USELESSUSDT	+0.0247%	1h	0.2817	−0.172%	$39K	$700K	25x	as long as short
KuCoin USELESSUSDTM	+0.0248%	4h	0.2820	−0.066%	$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	+0.0328%	4h	0.2820	−0.066%	$5.3M	$9.4M	20x	as long as short
Gate USELESS_USDT	+0.0368%	4h	0.2816	−0.201%	$7.0M	$8.3M	50x	as long as short
edgeX USELESSUSDC	+0.0490%	4h	0.2816	−0.197%	$21K	$192K	10x	as long as short
MEXC USELESS_USDT	+0.0508%	4h	0.2824	+0.072%	$10.4M	$6.0M	50x	as long as short
Binance USELESSUSDT	+0.0509%	4h	0.2822	−0.013%	$23.7M	$116.1M	50x	as long as short
Extended USELESS-USDlong	+0.0512%	1h	0.2822	long leg	$297K	$966K	5x
Bybit USELESSUSDT	+0.1001%	4h	0.2816	−0.201%	$27.8M	$45.7M	13x	as long as short
BingX USELESS-USDT	+0.1010%	4h	0.2821	−0.038%	—	$5.0M	—	as long as short
Aster USELESSUSDT	+0.1098%	4h	0.2818	−0.137%	$648K	$2.3M	10x	as long as short
Variational Omni USELESS	+0.1185%	4h	0.2823	+0.025%	$1.2M	$1.8M	—	as long as short
BloFin USELESS-USDT	+0.1323%	4h	0.2824	+0.093%	$1.2M	$2.0M	12x	as long as short
Orderly PERP_USELESS_USDC	+0.1326%	4h	0.2818	−0.155%	$22K	$1.4M	10x	as long as short
Hyperliquid USELESS	+0.1541%	1h	0.2827	+0.168%	$14.0M	$21.0M	3x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2985	+5.767%	$5K	$9K	5.5x	as long as short