Funding arb · Price arb /

USELESS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0276%/8h= −30.2% APRpaid last 24h +0.017%

Price spread now: Aevo against Gate+0.169%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Gate Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Aevo is 0.169% dearer against Gate than usual: you sell high and buy low (spread +0.169% now, against zero (this spread has no 7-day history yet)): +$17 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 2.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate USELESS_USDT	0.2811	0.0476	pay 0.0238% / 4h	3h 44m	$7.0M	$8.3M	50x
Short	Aevo USELESS-PERP	0.2815	0.0200	get 0.0025% / 1h	44m 23s	$10K	—	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Gate. 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 GatebpFee AevobpOrdersPrice spread, now +0.169%Rate

Funding earned: −$57.96
Price spread: +0.169% → 0.000%: $16.9
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$72.06
Costs to cover: 0.310%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 4 min ago; Aevo: no order-book sample. Net counts fees only.

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 Gate live order book, 4 min ago	6.58 bp	51.4 bp −$51	doesn't fit	doesn't fit	doesn't fit
Sell Aevo no order-book sample	—	—	—	—	—

Aevo: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	0.2812	+0.043%	$1.3M	$1.1M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2813	+0.100%	$31K	$70K	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0100%	4h	0.2821	+0.381%	$9.9M	$66.3M	10x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2821	+0.374%	$46K	$169K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2816	+0.199%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2802	−0.292%	$18K	$504K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2809	−0.075%	$590K	$1.2M	20x	as long as short
Aevo USELESS-PERPshort	+0.0200%	1h	0.2815	+0.169%	$10K	—	3x
KuCoin USELESSUSDTM	+0.0204%	4h	0.2820	+0.345%	$5.2M	$10.1M	12x	as long as short
Bitget USELESSUSDT	+0.0388%	4h	0.2824	+0.470%	$5.4M	$9.6M	20x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX USELESSUSDC	+0.0442%	4h	0.2799	−0.427%	$21K	$193K	10x	as long as short
Gate USELESS_USDTlong	+0.0476%	4h	0.2811	long leg	$7.0M	$8.3M	50x
Binance USELESSUSDT	+0.0479%	4h	0.2822	+0.411%	$23.8M	$116.1M	50x	as long as short
MEXC USELESS_USDT	+0.0484%	4h	0.2821	+0.381%	$10.6M	$5.9M	50x	as long as short
Extended USELESS-USD	+0.0488%	1h	0.2816	+0.180%	$300K	$1.1M	5x	as long as short
ApeX Omni USELESSUSDT	+0.0926%	1h	0.2819	+0.295%	$39K	$702K	25x	as long as short
Aster USELESSUSDT	+0.1037%	4h	0.2820	+0.325%	$648K	$2.3M	10x	as long as short
Variational Omni USELESS	+0.1125%	4h	0.2823	+0.431%	$1.2M	$1.7M	—	as long as short
Hyperliquid USELESS	+0.1185%	1h	0.2827	+0.580%	$14.2M	$21.1M	3x	as long as short
Orderly PERP_USELESS_USDC	+0.1291%	4h	0.2815	+0.153%	$22K	$1.4M	10x	as long as short
Bybit USELESSUSDT	+0.1349%	4h	0.2821	+0.381%	$27.7M	$45.9M	13x	as long as short
BloFin USELESS-USDT	+0.2314%	4h	0.2814	+0.128%	$1.2M	$2.0M	12x	as long as short
BingX USELESS-USDT	+0.2322%	4h	0.2822	+0.416%	—	$5.0M	—	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2983	+6.137%	$5K	$9K	5.5x	as long as short