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% APRpaid last 24h +0.269%

Price spread now: Hyperliquid against HTX−0.233%7-day average +0.200% · you buy dearer than you sell

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

Long on HTX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.909%+$91 on $10k

Price spread, last 4 days (all we have)+1.165%+$116 · spread now −0.233%, 7d avg +0.200%

Together, before fees+2.074%+ Points / potential airdropHyperliquid: Season 2 · farm board+$207 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: Hyperliquid is 0.433% cheaper against HTX than usual: you would sell low and buy high, −$43 on $10k if it goes back to its 7-day average of +0.200%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX USELESS-USDT	0.2552	0.0100	pay 0.0050% / 4h	57m 41s	$17K	$516K	20x
Short	Hyperliquid USELESS	0.2546	0.0100	get 0.0013% / 1h	57m 41s	$11.6M	$22.6M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against HTX. 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 HTXbpFee HyperliquidbpOrdersPrice spread, now −0.233%Rate

Funding earned: $0
Price spread: −0.233% → +0.200%: −$43.31
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$64.31
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: HTX: live order book, 66 min ago; Hyperliquid: live order book, 5 min ago. 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 HTX live order book, 66 min ago	40.47 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 5 min ago	1.35 bp	31.8 bp −$32	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	0.2542	−0.415%	$1.2M	$1.2M	3x	as long as short
Hyperliquid USELESSshort	+0.0100%	1h	0.2546	−0.233%	$11.6M	$22.6M	3x
Pacifica USELESS	+0.0100%	1h	0.2544	−0.333%	$28K	$70K	3x	as long as short
Gate USELESS_USDT	+0.0100%	4h	0.2540	−0.482%	$6.4M	$8.5M	50x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2570	+0.690%	$36K	$219K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2546	−0.259%	—	$1.4M	10x	as long as short
HTX USELESS-USDTlong	+0.0100%	4h	0.2552	long leg	$17K	$516K	20x
Phemex USELESSUSDT	+0.0100%	4h	0.2543	−0.368%	$557K	$1.1M	20x	as long as short
ApeX Omni USELESSUSDT	+0.0161%	1h	0.2551	−0.055%	$33K	$698K	25x	as long as short
OKX USELESS-USDT-SWAP	+0.0213%	4h	0.2539	−0.529%	$8.8M	$62.1M	10x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo USELESS-PERP	+0.0224%	1h	0.2550	−0.091%	$9K	—	3x	as long as short
KuCoin USELESSUSDTM	+0.0252%	4h	0.2545	−0.286%	$4.6M	$10.6M	12x	as long as short
Bitget USELESSUSDT	+0.0498%	4h	0.2545	−0.298%	$4.9M	$10.4M	20x	as long as short
MEXC USELESS_USDT	+0.0558%	4h	0.2540	−0.470%	$10.1M	$6.1M	50x	as long as short
Binance USELESSUSDT	+0.0558%	4h	0.2541	−0.428%	$21.4M	$122.4M	50x	as long as short
Extended USELESS-USD	+0.0560%	1h	0.2537	−0.586%	$112K	$1.2M	5x	as long as short
edgeX USELESSUSDC	+0.0568%	4h	0.2553	+0.031%	$19K	$196K	10x	as long as short
Aster USELESSUSDT	+0.0726%	4h	0.2543	−0.350%	$504K	$2.4M	10x	as long as short
Bybit USELESSUSDT	+0.0804%	4h	0.2533	−0.760%	$24.3M	$48.5M	13x	as long as short
BingX USELESS-USDT	+0.0860%	4h	0.2546	−0.247%	—	$5.3M	—	as long as short
Variational Omni USELESS	+0.0941%	4h	0.2549	−0.136%	$1.0M	$1.8M	—	as long as short
BloFin USELESS-USDT	+0.1075%	4h	0.2559	+0.247%	$1.2M	$1.9M	12x	as long as short
Orderly PERP_USELESS_USDC	+0.1359%	4h	0.2547	−0.227%	$19K	$1.3M	10x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2710	+6.186%	$5K	$11K	5.5x	as long as short