Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0336%/8h= −36.8% APRpaid last 24h −0.084%

Price spread now: Aevo against MEXC−0.007%7-day average — · you buy dearer than you sell

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

Long on MEXC 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 sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$10 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC USELESS_USDT	0.2805	0.0552	pay 0.0276% / 4h	2h 05m	$10.9M	$6.0M	50x
Short	Aevo USELESS-PERP	0.2804	0.0216	get 0.0027% / 1h	5m 01s	$10K	—	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against MEXC. 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 MEXCbpFee AevobpOrdersPrice spread, now −0.007%Rate

Funding earned: −$70.56
Price spread: −0.007% → 0.000%: −$0.71
Slippage, 4 orders: no order book: not counted
Fee MEXC: 4 bp × 2 orders: −$8
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$95.27
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: MEXC: 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 MEXC live order book, 3 min ago	0.18 bp	14.7 bp −$15	48.7 bp −$487	143.2 bp −$14.3K	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 23 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	0.2801	−0.118%	$1.3M	$1.2M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2808	+0.121%	$31K	$70K	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0100%	4h	0.2802	−0.103%	$9.9M	$65.8M	10x	as long as short
Gate USELESS_USDT	+0.0100%	4h	0.2801	−0.132%	$7.0M	$8.5M	50x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2809	+0.171%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2802	−0.089%	$18K	$503K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2799	−0.207%	$608K	$1.1M	20x	as long as short
KuCoin USELESSUSDTM	+0.0146%	4h	0.2801	−0.118%	$5.2M	$10.4M	12x	as long as short
Aevo USELESS-PERPshort	+0.0216%	1h	0.2804	−0.007%	$10K	—	3x
Polymarket Perps USELESS-USD	+0.0370%	1h	0.2805	+0.011%	$27K	$203K	3x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX USELESSUSDC	+0.0543%	4h	0.2811	+0.210%	$21K	$194K	10x	as long as short
Extended USELESS-USD	+0.0552%	1h	0.2802	−0.090%	$298K	$1.1M	5x	as long as short
MEXC USELESS_USDTlong	+0.0552%	4h	0.2805	long leg	$10.9M	$6.0M	50x
Binance USELESSUSDT	+0.0554%	4h	0.2803	−0.064%	$23.7M	$117.1M	50x	as long as short
Bitget USELESSUSDT	+0.0576%	4h	0.2800	−0.168%	$5.4M	$9.9M	20x	as long as short
BingX USELESS-USDT	+0.0702%	4h	0.2801	−0.143%	—	$5.1M	—	as long as short
ApeX Omni USELESSUSDT	+0.0716%	1h	0.2808	+0.118%	$39K	$698K	25x	as long as short
Bybit USELESSUSDT	+0.0801%	4h	0.2802	−0.082%	$27.2M	$46.3M	13x	as long as short
Variational Omni USELESS	+0.0873%	4h	0.2812	+0.250%	$1.2M	$1.7M	—	as long as short
Aster USELESSUSDT	+0.1079%	4h	0.2805	+0.011%	$625K	$2.3M	10x	as long as short
Hyperliquid USELESS	+0.1244%	1h	0.2801	−0.118%	$14.0M	$20.7M	3x	as long as short
Orderly PERP_USELESS_USDC	+0.1313%	4h	0.2806	+0.053%	$22K	$1.3M	10x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2989	+6.553%	$5K	$9K	5.5x	as long as short