Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.4900%/8h= +536.5% APRpaid last 24h −0.909%

Price spread now: Injective against HTX+7.505%65s7-day average — · you sell dearer than you buy

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

Long on HTX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 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

Both sides work for this trade now. Funding pays +$147 a day on $10k at the current rate, and Injective is 7.505% dearer against HTX than usual: you sell high and buy low: +$751 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 65 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	HTX USELESS-USDT	0.2821	0.0100	pay 0.0050% / 4h	2h 55m	$18K	$514K	20x
Short	Injective USELESS/USDC PERP	0.3032	0.5000	get 0.0625% / 1h	55m 36s	$5K	$9K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +7.505%Rate

Funding earned: $1,029
Price spread: +7.505% → 0.000%: $750.52
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $1,767.5
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: HTX: live order book, 13 min ago; Injective: 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 HTX live order book, 13 min ago	35.00 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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	0.2817	−0.124%	$1.3M	$1.1M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2818	−0.079%	$31K	$69K	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0100%	4h	0.2813	−0.269%	$9.9M	$66.7M	10x	as long as short
Gate USELESS_USDT	+0.0100%	4h	0.2819	−0.057%	$7.1M	$8.3M	50x	as long as short
ApeX Omni USELESSUSDT	+0.0100%	1h	0.2834	+0.472%	$39K	$698K	25x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2818	−0.082%	—	$1.4M	10x	as long as short
HTX USELESS-USDTlong	+0.0100%	4h	0.2821	long leg	$18K	$514K	20x
Phemex USELESSUSDT	+0.0100%	4h	0.2813	−0.284%	$594K	$1.2M	20x	as long as short
KuCoin USELESSUSDTM	+0.0120%	4h	0.2816	−0.163%	$5.2M	$10.2M	12x	as long as short
Aevo USELESS-PERP	+0.0200%	1h	0.2820	−0.009%	$10K	—	3x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance USELESSUSDT	+0.0488%	4h	0.2815	−0.187%	$23.8M	$117.4M	50x	as long as short
edgeX USELESSUSDC	+0.0488%	4h	0.2844	+0.842%	$21K	$193K	10x	as long as short
MEXC USELESS_USDT	+0.0492%	4h	0.2818	−0.113%	$11.0M	$6.0M	50x	as long as short
Extended USELESS-USD	+0.0496%	1h	0.2821	−0.004%	$297K	$1.2M	5x	as long as short
Polymarket Perps USELESS-USD	+0.0582%	1h	0.2819	−0.064%	$45K	$182K	3x	as long as short
Bitget USELESSUSDT	+0.0586%	4h	0.2816	−0.170%	$5.4M	$9.9M	20x	as long as short
BingX USELESS-USDT	+0.0692%	4h	0.2813	−0.280%	—	$5.1M	—	as long as short
Bybit USELESSUSDT	+0.0829%	4h	0.2815	−0.213%	$27.4M	$46.6M	13x	as long as short
Hyperliquid USELESS	+0.0869%	1h	0.2821	0.000%	$14.1M	$21.1M	3x	as long as short
Variational Omni USELESS	+0.0962%	4h	0.2815	−0.216%	$1.2M	$1.7M	—	as long as short
BloFin USELESS-USDT	+0.0983%	4h	0.2836	+0.557%	$1.2M	$2.1M	12x	as long as short
Aster USELESSUSDT	+0.1039%	4h	0.2814	−0.235%	$647K	$2.3M	10x	as long as short
Orderly PERP_USELESS_USDC	+0.1239%	4h	0.2818	−0.096%	$22K	$1.4M	10x	as long as short
Injective USELESS/USDC PERPshort	+0.5000%	1h	0.3032	+7.505%	$5K	$9K	5.5x