Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.010%

Price spread now: SunX against OKX−0.445%47s7-day average +0.076% · you buy dearer than you sell

Net, funding: paid 7d − costs−$173as 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−$1711.705% of the position

Long on OKX Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.030%−$3 on $10k

Price spread, last 3 days (all we have)+0.258%+$26 · spread now −0.445%, 7d avg +0.076%

Together, before fees+0.228%+$23 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: SunX is 0.521% cheaper against OKX than usual: you would sell low and buy high, −$52 on $10k if it goes back to its 7-day average of +0.076%. The two prices were read 47 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	0.2921	0.0100	pay 0.0050% / 4h	3h 14m	$10.2M	$68.7M	10x
Short	SunX USELESS-USDT	0.2908	0.0100	get 0.0050% / 4h	3h 14m	—	$1.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.445%Rate

Funding earned: $0
Price spread: −0.445% → +0.076%: −$52.07
Slippage, 4 orders: −$152.52
Fee OKX: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$222.58
Costs to cover: 1.705%
Break-even: never at this rate

Slippage from OKX: live order book, 4 min ago; SunX: live order book, 10 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 OKX live order book, 4 min ago	2.44 bp	18.5 bp −$19	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 10 min ago	44.94 bp	63.9 bp −$64	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	0.2915	−0.199%	$1.3M	$1.1M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2910	−0.366%	$33K	$69K	3x	as long as short
OKX USELESS-USDT-SWAPlong	+0.0100%	4h	0.2921	long leg	$10.2M	$68.7M	10x
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2901	−0.692%	$50K	$175K	3x	as long as short
SunX USELESS-USDTshort	+0.0100%	4h	0.2908	−0.445%	—	$1.4M	10x
HTX USELESS-USDT	+0.0100%	4h	0.2913	−0.284%	$19K	$510K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2906	−0.500%	$615K	$1.2M	20x	as long as short
KuCoin USELESSUSDTM	+0.0150%	4h	0.2914	−0.253%	$5.4M	$10.2M	12x	as long as short
Aevo USELESS-PERP	+0.0200%	1h	0.2904	−0.575%	$10K	—	3x	as long as short
ApeX Omni USELESSUSDT	+0.0387%	1h	0.2874	−1.609%	$40K	$699K	25x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX USELESSUSDC	+0.0470%	4h	0.2878	−1.487%	$21K	$194K	10x	as long as short
MEXC USELESS_USDT	+0.0486%	4h	0.2926	+0.168%	$11.3M	$6.0M	50x	as long as short
Extended USELESS-USD	+0.0488%	1h	0.2924	+0.102%	$308K	$1.2M	5x	as long as short
Binance USELESSUSDT	+0.0503%	4h	0.2923	+0.051%	$24.7M	$116.5M	50x	as long as short
Bitget USELESSUSDT	+0.0554%	4h	0.2928	+0.229%	$5.6M	$9.6M	20x	as long as short
Gate USELESS_USDT	+0.0668%	4h	0.2918	−0.120%	$7.3M	$8.4M	50x	as long as short
Bybit USELESSUSDT	+0.0802%	4h	0.2923	+0.055%	$28.6M	$46.4M	13x	as long as short
BingX USELESS-USDT	+0.0866%	4h	0.2928	+0.240%	—	$5.1M	—	as long as short
Variational Omni USELESS	+0.0969%	4h	0.2879	−1.431%	$1.2M	$1.7M	—	as long as short
Aster USELESSUSDT	+0.1077%	4h	0.2917	−0.137%	$671K	$2.3M	10x	as long as short
Hyperliquid USELESS	+0.1145%	1h	0.2916	−0.159%	$14.7M	$21.0M	3x	as long as short
BloFin USELESS-USDT	+0.1192%	4h	0.2913	−0.260%	$1.2M	$2.1M	12x	as long as short
Orderly PERP_USELESS_USDC	+0.1243%	4h	0.2909	−0.425%	$23K	$1.4M	10x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.3049	+4.389%	$5K	$9K	5.5x	as long as short