Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0412%/8h= +45.1% APRpaid last 24h +0.087%

Price spread now: Extended against KuCoin+0.177%7-day average +0.030% · you sell dearer than you buy

Net, funding: paid 7d − costs−$417as in the Funding arb table

Net, price: spread back to 7d avg − costs−$401as in the Price arb table

costs, in and out, $10k−$4154.153% of the position

Long on KuCoin Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.015%−$1 on $10k

Price spread, last 4 days (all we have)−0.149%−$15 · spread now +0.177%, 7d avg +0.030%

Together, before fees−0.164%+ Points / potential airdropExtended: Active · farm board−$16 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and Extended is 0.146% dearer against KuCoin than usual: you sell high and buy low: +$15 more if the spread goes back to its 7-day average of +0.030%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.015% in total (about -0.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin USELESSUSDTM	0.2845	0.0100	pay 0.0050% / 4h	2h 48m	$5.2M	$10.2M	12x
Short	Extended USELESS-USD	0.2850	0.0512	get 0.0064% / 1h	48m 36s	$300K	$1.2M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now +0.177%Rate

Funding earned: $86.52
Price spread: +0.177% → +0.030%: $14.61
Slippage, 4 orders: −$398.34
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$314.21
Costs to cover: 4.153%
Break-even: 32.4 days

Slippage from KuCoin: live order book, 5 min ago; Extended: live order book, 5 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, 5 min ago	9.01 bp	109.8 bp −$110	doesn't fit	doesn't fit	doesn't fit
Sell Extended live order book, 5 min ago	85.59 bp	103.7 bp −$104	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	0.2843	−0.049%	$1.3M	$1.1M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2843	−0.049%	$32K	$69K	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0100%	4h	0.2845	+0.004%	$10.0M	$67.5M	10x	as long as short
KuCoin USELESSUSDTMlong	+0.0100%	4h	0.2845	long leg	$5.2M	$10.2M	12x
SunX USELESS-USDT	+0.0100%	4h	0.2833	−0.415%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2836	−0.302%	$19K	$515K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2831	−0.496%	$598K	$1.2M	20x	as long as short
Gate USELESS_USDT	+0.0178%	4h	0.2844	−0.018%	$7.1M	$8.3M	50x	as long as short
Aevo USELESS-PERP	+0.0208%	1h	0.2835	−0.346%	$10K	—	3x	as long as short
edgeX USELESSUSDC	+0.0470%	4h	0.2832	−0.448%	$21K	$194K	10x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended USELESS-USDshort	+0.0512%	1h	0.2850	+0.177%	$300K	$1.2M	5x
MEXC USELESS_USDT	+0.0512%	4h	0.2847	+0.060%	$11.1M	$6.0M	50x	as long as short
Binance USELESSUSDT	+0.0516%	4h	0.2847	+0.063%	$24.1M	$117.6M	50x	as long as short
Bitget USELESSUSDT	+0.0578%	4h	0.2841	−0.137%	$5.4M	$9.9M	20x	as long as short
Bybit USELESSUSDT	+0.0621%	4h	0.2846	+0.035%	$27.7M	$46.7M	13x	as long as short
Polymarket Perps USELESS-USD	+0.0678%	1h	0.2848	+0.112%	$43K	$185K	3x	as long as short
BingX USELESS-USDT	+0.0744%	4h	0.2847	+0.081%	—	$5.1M	—	as long as short
BloFin USELESS-USDT	+0.0886%	4h	0.2835	−0.344%	$1.2M	$2.1M	12x	as long as short
Variational Omni USELESS	+0.0917%	4h	0.2853	+0.267%	$1.2M	$1.7M	—	as long as short
ApeX Omni USELESSUSDT	+0.0961%	1h	0.2850	+0.179%	$39K	$700K	25x	as long as short
Aster USELESSUSDT	+0.1051%	4h	0.2845	0.000%	$654K	$2.3M	10x	as long as short
Hyperliquid USELESS	+0.1215%	1h	0.2846	+0.028%	$14.2M	$21.1M	3x	as long as short
Orderly PERP_USELESS_USDC	+0.1257%	4h	0.2835	−0.362%	$22K	$1.4M	10x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.3027	+6.390%	$5K	$9K	5.5x	as long as short