Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.011%

Price spread now: SunX against Gate+0.368%7-day average +0.143% · you sell dearer than you buy

Net, funding: paid 7d − costs−$232as in the Funding arb table

Net, price: spread back to 7d avg − costs−$203as in the Price arb table

costs, in and out, $10k−$2262.257% of the position

Long on Gate Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.064%−$6 on $10k

Price spread, last 3 days (all we have)−0.343%−$34 · spread now +0.368%, 7d avg +0.143%

Together, before fees−0.407%−$41 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: SunX is 0.225% dearer against Gate than usual: you sell high and buy low, +$22 on $10k if it goes back to its 7-day average of +0.143%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate USELESS_USDT	0.2800	0.0100	pay 0.0050% / 4h	2h 08m	$7.0M	$8.4M	50x
Short	SunX USELESS-USDT	0.2810	0.0100	get 0.0050% / 4h	2h 08m	—	$1.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.368%Rate

Funding earned: $0
Price spread: +0.368% → +0.143%: $22.48
Slippage, 4 orders: −$202.73
Fee Gate: 7.5 bp × 2 orders: −$15
Fee SunX: 4 bp × 2 orders: −$8
Net: −$203.25
Costs to cover: 2.257%
Break-even: never at this rate

Slippage from Gate: live order book, 5 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 Gate live order book, 5 min ago	5.85 bp	47.8 bp −$48	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 6 min ago	44.76 bp	63.9 bp −$64	doesn't fit	doesn't fit	doesn't fit

USELESS on 23 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	0.2801	+0.032%	$1.3M	$1.2M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2803	+0.115%	$31K	$70K	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0100%	4h	0.2803	+0.107%	$9.9M	$65.9M	10x	as long as short
Gate USELESS_USDTlong	+0.0100%	4h	0.2800	long leg	$7.0M	$8.4M	50x
SunX USELESS-USDTshort	+0.0100%	4h	0.2810	+0.368%	—	$1.4M	10x
HTX USELESS-USDT	+0.0100%	4h	0.2799	−0.032%	$18K	$502K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2797	−0.096%	$604K	$1.2M	20x	as long as short
KuCoin USELESSUSDTM	+0.0136%	4h	0.2800	+0.014%	$5.2M	$10.4M	12x	as long as short
Aevo USELESS-PERP	+0.0216%	1h	0.2802	+0.100%	$10K	—	3x	as long as short
Polymarket Perps USELESS-USD	+0.0415%	1h	0.2802	+0.086%	$28K	$202K	3x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX USELESSUSDC	+0.0543%	4h	0.2813	+0.484%	$21K	$194K	10x	as long as short
Extended USELESS-USD	+0.0552%	1h	0.2801	+0.064%	$298K	$1.1M	5x	as long as short
MEXC USELESS_USDT	+0.0552%	4h	0.2802	+0.089%	$10.9M	$6.0M	50x	as long as short
Binance USELESSUSDT	+0.0554%	4h	0.2801	+0.055%	$23.7M	$117.0M	50x	as long as short
Bitget USELESSUSDT	+0.0580%	4h	0.2801	+0.054%	$5.4M	$9.8M	20x	as long as short
BingX USELESS-USDT	+0.0738%	4h	0.2803	+0.107%	—	$5.1M	—	as long as short
Bybit USELESSUSDT	+0.0739%	4h	0.2802	+0.089%	$27.2M	$46.3M	13x	as long as short
ApeX Omni USELESSUSDT	+0.0776%	1h	0.2814	+0.511%	$39K	$699K	25x	as long as short
Variational Omni USELESS	+0.0901%	4h	0.2816	+0.581%	$1.2M	$1.7M	—	as long as short
Aster USELESSUSDT	+0.1079%	4h	0.2799	−0.011%	$623K	$2.3M	10x	as long as short
Hyperliquid USELESS	+0.1276%	1h	0.2802	+0.075%	$14.0M	$20.7M	3x	as long as short
Orderly PERP_USELESS_USDC	+0.1306%	4h	0.2803	+0.111%	$22K	$1.3M	10x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2989	+6.744%	$5K	$9K	5.5x	as long as short