Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0358%/8h= −39.2% APRpaid last 24h −0.102%

Price spread now: Polymarket Perps against MEXC−0.062%7-day average +0.028% · you buy dearer than you sell

Net, funding: paid 7d − costs−$209as in the Funding arb table

Net, price: spread back to 7d avg − costs−$192as in the Price arb table

costs, in and out, $10k−$1831.827% of the position

Long on MEXC Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.263%−$26 on $10k

Price spread, last 7 days+0.032%+$3 · spread now −0.062%, 7d avg +0.028%

Together, before fees−0.231%−$23 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and Polymarket Perps is 0.090% cheaper against MEXC than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of +0.028%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC USELESS_USDT	0.2567	0.0458	pay 0.0229% / 4h	28m 03s	$10.3M	$6.2M	50x
Short	Polymarket Perps USELESS-USD	0.2565	0.0100	get 0.0013% / 1h	28m 03s	$32K	$223K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.062%Rate

Funding earned: −$75.18
Price spread: −0.062% → +0.028%: −$9
Slippage, 4 orders: −$166.69
Fee MEXC: 4 bp × 2 orders: −$8
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$266.87
Costs to cover: 1.827%
Break-even: never at this rate

Slippage from MEXC: live order book, 5 min ago; Polymarket Perps: live order book, 29 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 MEXC live order book, 5 min ago	0.39 bp	9.1 bp −$9	44.9 bp −$449	148.6 bp −$14.9K	568.4 bp −$284.2K
Sell Polymarket Perps live order book, 29 min ago	6.65 bp	81.3 bp −$81	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	0.2564	−0.117%	$1.2M	$1.2M	3x	as long as short
Hyperliquid USELESS	+0.0100%	1h	0.2566	−0.031%	$11.4M	$22.9M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2568	+0.047%	$28K	$64K	3x	as long as short
Polymarket Perps USELESS-USDshort	+0.0100%	1h	0.2565	−0.062%	$32K	$223K	3x
SunX USELESS-USDT	+0.0100%	4h	0.2564	−0.097%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2560	−0.257%	$17K	$521K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2564	−0.113%	$574K	$1.0M	20x	as long as short
Aevo USELESS-PERP	+0.0200%	1h	0.2567	−0.002%	$9K	—	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0201%	4h	0.2567	0.000%	$8.9M	$63.2M	10x	as long as short
KuCoin USELESSUSDTM	+0.0222%	4h	0.2565	−0.078%	$4.6M	$10.7M	12x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate USELESS_USDT	+0.0238%	4h	0.2565	−0.078%	$6.4M	$8.7M	50x	as long as short
Bitget USELESSUSDT	+0.0342%	4h	0.2565	−0.074%	$4.9M	$10.4M	20x	as long as short
ApeX Omni USELESSUSDT	+0.0420%	1h	0.2558	−0.343%	$33K	$693K	25x	as long as short
Binance USELESSUSDT	+0.0455%	4h	0.2566	−0.047%	$21.4M	$123.3M	50x	as long as short
Extended USELESS-USD	+0.0456%	1h	0.2566	−0.039%	$113K	$1.2M	5x	as long as short
MEXC USELESS_USDTlong	+0.0458%	4h	0.2567	long leg	$10.3M	$6.2M	50x
edgeX USELESSUSDC	+0.0461%	4h	0.2566	−0.012%	$19K	$197K	10x	as long as short
Aster USELESSUSDT	+0.0510%	4h	0.2565	−0.051%	$508K	$2.4M	10x	as long as short
Bybit USELESSUSDT	+0.0510%	4h	0.2566	−0.031%	$24.5M	$48.5M	13x	as long as short
BingX USELESS-USDT	+0.0532%	4h	0.2566	−0.043%	—	$5.3M	—	as long as short
Variational Omni USELESS	+0.0718%	4h	0.2564	−0.117%	$1.0M	$1.9M	—	as long as short
BloFin USELESS-USDT	+0.0779%	4h	0.2576	+0.358%	$1.1M	$1.9M	12x	as long as short
Orderly PERP_USELESS_USDC	+0.1318%	4h	0.2567	+0.027%	$19K	$1.2M	10x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2704	+5.353%	$5K	$11K	5.5x	as long as short