Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0140%/8h= +15.3% APRpaid last 24h +0.010%

Price spread now: Aevo against OKX−0.474%50s7-day average — · you buy dearer than you sell

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

Long on OKX 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

Funding pays, the price is against you. Aevo is 0.474% cheaper against OKX than usual: you would sell low and buy high (spread −0.474% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$47 on $10k: about 11 days of funding at the current rate (+$4 a day). The two prices were read 50 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	OKX USELESS-USDT-SWAP	0.2924	0.0100	pay 0.0050% / 4h	2h 47m	$10.3M	$65.4M	10x
Short	Aevo USELESS-PERP	0.2910	0.0240	get 0.0030% / 1h	47m 27s	$10K	—	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against OKX. 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 OKXbpFee AevobpOrdersPrice spread, now −0.474%Rate

Funding earned: $29.4
Price spread: −0.474% → 0.000%: −$47.43
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$44.03
Costs to cover: 0.260%
Break-even: 17.5 days

Slippage unknown: OKX: live order book, 1 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 OKX live order book, 1 min ago	1.38 bp	18.4 bp −$18	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
ApeX Omni USELESSUSDT	+0.0032%	1h	0.2875	−1.683%	$41K	$697K	25x	as long as short
Lighter USELESS	+0.0096%	1h	0.2922	−0.062%	$1.3M	$1.1M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2919	−0.161%	$32K	$70K	3x	as long as short
OKX USELESS-USDT-SWAPlong	+0.0100%	4h	0.2924	long leg	$10.3M	$65.4M	10x
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2924	+0.010%	$29K	$135K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2915	−0.315%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2907	−0.575%	$20K	$376K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2903	−0.725%	$576K	$1.3M	20x	as long as short
KuCoin USELESSUSDTM	+0.0152%	4h	0.2920	−0.137%	$5.4M	$9.6M	12x	as long as short
Aevo USELESS-PERPshort	+0.0240%	1h	0.2910	−0.474%	$10K	—	3x

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate USELESS_USDT	+0.0256%	4h	0.2920	−0.154%	$7.3M	$7.7M	50x	as long as short
Bitget USELESSUSDT	+0.0566%	4h	0.2924	+0.010%	$5.5M	$8.7M	20x	as long as short
edgeX USELESSUSDC	+0.0659%	4h	0.2901	−0.809%	$22K	$189K	10x	as long as short
Extended USELESS-USD	+0.0672%	1h	0.2924	+0.010%	$306K	$967K	5x	as long as short
MEXC USELESS_USDT	+0.0672%	4h	0.2926	+0.051%	$10.3M	$5.8M	50x	as long as short
Binance USELESSUSDT	+0.0672%	4h	0.2925	+0.043%	$25.2M	$109.1M	50x	as long as short
Orderly PERP_USELESS_USDC	+0.1117%	4h	0.2913	−0.400%	$22K	$1.4M	10x	as long as short
Variational Omni USELESS	+0.1192%	4h	0.2881	−1.480%	$1.1M	$1.7M	—	as long as short
BingX USELESS-USDT	+0.1312%	4h	0.2924	−0.010%	—	$4.9M	—	as long as short
Aster USELESSUSDT	+0.1322%	4h	0.2916	−0.273%	$673K	$2.1M	10x	as long as short
Bybit USELESSUSDT	+0.1434%	4h	0.2925	+0.031%	$29.4M	$42.6M	13x	as long as short
Hyperliquid USELESS	+0.1554%	1h	0.2929	+0.171%	$15.0M	$19.6M	3x	as long as short
BloFin USELESS-USDT	+0.1885%	4h	0.2900	−0.834%	$1.3M	$2.0M	12x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.3071	+5.037%	$5K	$10K	5.5x	as long as short