Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0040%/8h= −4.4% APRpaid last 24h +0.007%

Price spread now: Aevo against KuCoin+0.479%7-day average — · you sell dearer than you buy

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

Long on KuCoin 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 0.479% dearer against KuCoin than usual: you sell high and buy low (spread +0.479% now, against zero (this spread has no 7-day history yet)): +$48 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 40 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin USELESSUSDTM	0.2718	0.0272	pay 0.0136% / 4h	1h 15m	$5.0M	$10.4M	12x
Short	Aevo USELESS-PERP	0.2731	0.0232	get 0.0029% / 1h	15m 03s	$10K	—	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against KuCoin. 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 KuCoinbpFee AevobpOrdersPrice spread, now +0.479%Rate

Funding earned: −$8.4
Price spread: +0.479% → 0.000%: $47.94
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Aevo: 8 bp × 2 orders: −$16
Net: $11.54
Costs to cover: 0.280%
Break-even: from the start

Slippage unknown: KuCoin: live order book, 3 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 KuCoin live order book, 3 min ago	9.10 bp	55.6 bp −$56	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	0.2721	+0.114%	$1.2M	$1.2M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2728	+0.354%	$30K	$70K	3x	as long as short
Gate USELESS_USDT	+0.0100%	4h	0.2714	−0.140%	$6.8M	$8.6M	50x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2726	+0.302%	$39K	$216K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2729	+0.416%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2719	+0.029%	$18K	$512K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2716	−0.088%	$600K	$1.1M	20x	as long as short
OKX USELESS-USDT-SWAP	+0.0202%	4h	0.2722	+0.129%	$9.6M	$64.1M	10x	as long as short
Aevo USELESS-PERPshort	+0.0232%	1h	0.2731	+0.479%	$10K	—	3x
ApeX Omni USELESSUSDT	+0.0270%	1h	0.2742	+0.883%	$38K	$695K	25x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin USELESSUSDTMlong	+0.0272%	4h	0.2718	long leg	$5.0M	$10.4M	12x
Bitget USELESSUSDT	+0.0544%	4h	0.2723	+0.177%	$5.3M	$10.0M	20x	as long as short
edgeX USELESSUSDC	+0.0602%	4h	0.2743	+0.904%	$20K	$196K	10x	as long as short
Binance USELESSUSDT	+0.0616%	4h	0.2721	+0.108%	$23.1M	$118.3M	50x	as long as short
Extended USELESS-USD	+0.0616%	1h	0.2717	−0.028%	$287K	$1.1M	5x	as long as short
MEXC USELESS_USDT	+0.0618%	4h	0.2720	+0.077%	$10.8M	$6.0M	50x	as long as short
Hyperliquid USELESS	+0.0668%	1h	0.2723	+0.191%	$13.3M	$21.1M	3x	as long as short
BingX USELESS-USDT	+0.0934%	4h	0.2720	+0.055%	—	$5.2M	—	as long as short
Bybit USELESSUSDT	+0.0952%	4h	0.2718	−0.004%	$26.2M	$46.6M	13x	as long as short
Variational Omni USELESS	+0.1001%	4h	0.2743	+0.906%	$1.2M	$1.7M	—	as long as short
Aster USELESSUSDT	+0.1038%	4h	0.2720	+0.055%	$572K	$2.3M	10x	as long as short
BloFin USELESS-USDT	+0.1267%	4h	0.2722	+0.147%	$1.2M	$2.0M	12x	as long as short
Orderly PERP_USELESS_USDC	+0.1393%	4h	0.2722	+0.136%	$21K	$1.3M	10x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2904	+6.858%	$5K	$9K	5.5x	as long as short