Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0040%/8h= −4.4% APRpaid last 24h +0.013%

Price spread now: ApeX Omni against KuCoin−1.252%97s7-day average +0.043% · you buy dearer than you sell

Net, funding: paid 7d − costs−$142as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1271.269% of the position

Long on KuCoin Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.147%−$15 on $10k

Price spread, last 4 days (all we have)+1.202%+$120 · spread now −1.252%, 7d avg +0.043%

Together, before fees+1.054%+$105 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and ApeX Omni is 1.295% cheaper against KuCoin than usual: you would sell low and buy high (−$130 if the spread goes back to its 7-day average of +0.043%). Swap the legs. The two prices were read 97 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	KuCoin USELESSUSDTM	0.2684	0.0140	pay 0.0070% / 4h	2h 35m	$4.9M	$10.6M	12x
Short	ApeX Omni USELESSUSDT	0.2650	0.0100	get 0.0013% / 1h	35m 49s	$47K	$698K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni 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 ApeX OmnibpOrdersPrice spread, now −1.252%Rate

Funding earned: −$8.4
Price spread: −1.252% → +0.043%: −$129.53
Slippage, 4 orders: −$104.86
Fee KuCoin: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$264.79
Costs to cover: 1.269%
Break-even: never at this rate

Slippage from KuCoin: live order book, 8 min ago; ApeX Omni: live order book, 13 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 KuCoin live order book, 8 min ago	8.19 bp	42.2 bp −$42	doesn't fit	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 13 min ago	11.14 bp	20.9 bp −$21	109.9 bp −$1,099	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	0.2688	+0.157%	$1.2M	$1.2M	3x	as long as short
Hyperliquid USELESS	+0.0100%	1h	0.2687	+0.142%	$11.6M	$22.9M	3x	as long as short
Aster USELESSUSDT	+0.0100%	4h	0.2684	+0.007%	$526K	$2.3M	10x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2680	−0.138%	$28K	$18K	3x	as long as short
ApeX Omni USELESSUSDTshort	+0.0100%	1h	0.2650	−1.252%	$47K	$698K	25x
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2687	+0.134%	$26K	$247K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2684	+0.011%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2680	−0.153%	$18K	$519K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2684	+0.022%	$639K	$1.1M	20x	as long as short
Bitget USELESSUSDT	+0.0116%	4h	0.2685	+0.045%	$5.2M	$10.4M	20x	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	+0.0136%	1h	0.2688	+0.170%	$10K	—	3x	as long as short
KuCoin USELESSUSDTMlong	+0.0140%	4h	0.2684	long leg	$4.9M	$10.6M	12x
OKX USELESS-USDT-SWAP	+0.0152%	4h	0.2687	+0.134%	$9.2M	$65.6M	10x	as long as short
MEXC USELESS_USDT	+0.0206%	4h	0.2689	+0.190%	$10.9M	$6.0M	50x	as long as short
edgeX USELESSUSDC	+0.0219%	4h	0.2658	−0.963%	$20K	$196K	10x	as long as short
Extended USELESS-USD	+0.0224%	1h	0.2689	+0.212%	$114K	$1.1M	5x	as long as short
Binance USELESSUSDT	+0.0225%	4h	0.2689	+0.204%	$22.4M	$122.2M	50x	as long as short
BingX USELESS-USDT	+0.0346%	4h	0.2688	+0.149%	—	$5.3M	—	as long as short
Bybit USELESSUSDT	+0.0413%	4h	0.2686	+0.108%	$25.3M	$48.5M	13x	as long as short
Variational Omni USELESS	+0.0516%	4h	0.2686	+0.089%	$1.0M	$1.8M	—	as long as short
BloFin USELESS-USDT	+0.0613%	4h	0.2681	−0.104%	$1.1M	$2.0M	12x	as long as short
Gate USELESS_USDT	+0.0810%	4h	0.2686	+0.071%	$6.7M	$8.6M	50x	as long as short
Orderly PERP_USELESS_USDC	+0.1198%	4h	0.2688	+0.153%	$21K	$1.2M	10x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2826	+5.314%	$5K	$11K	5.5x	as long as short