Funding arb · Price arb /

USELESS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0204%/8h= +22.3% APRpaid last 24h +0.027%

Price spread now: KuCoin against Pacifica−0.529%46s7-day average — · you buy dearer than you sell

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

Long on Pacifica Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.331%+$33 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropPacifica: Active · farm boardneeds both histories

Funding pays, the price is against you. KuCoin is 0.529% cheaper against Pacifica than usual: you would sell low and buy high (spread −0.529% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$53 on $10k: about 8.6 days of funding at the current rate (+$6 a day). The two prices were read 46 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	Pacifica USELESS	0.2862	0.0100	pay 0.0013% / 1h	2m 48s	$32K	$70K	3x
Short	KuCoin USELESSUSDTM	0.2847	0.0304	get 0.0152% / 4h	2h 02m	$5.3M	$9.7M	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Pacifica. 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 PacificabpFee KuCoinbpOrdersPrice spread, now −0.529%Rate

Funding earned: $42.84
Price spread: −0.529% → 0.000%: −$52.89
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$30.05
Costs to cover: 0.200%
Break-even: 11.9 days

Slippage unknown: Pacifica: no order-book sample; KuCoin: live order book, 5 min ago. 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 Pacifica no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 5 min ago	8.97 bp	48.5 bp −$49	doesn't fit	doesn't fit	doesn't fit

Pacifica: 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
Lighter USELESS	+0.0096%	1h	0.2856	−0.225%	$1.3M	$1.1M	3x	as long as short
Pacifica USELESSlong	+0.0100%	1h	0.2862	long leg	$32K	$70K	3x
OKX USELESS-USDT-SWAP	+0.0100%	4h	0.2848	−0.487%	$10.1M	$64.3M	10x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2863	+0.016%	$28K	$140K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2861	−0.050%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2858	−0.138%	$20K	$388K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2837	−0.906%	$572K	$1.2M	20x	as long as short
Aevo USELESS-PERP	+0.0232%	1h	0.2855	−0.244%	$10K	—	3x	as long as short
KuCoin USELESSUSDTMshort	+0.0304%	4h	0.2847	−0.529%	$5.3M	$9.7M	12x
ApeX Omni USELESSUSDT	+0.0327%	1h	0.2850	−0.435%	$41K	$698K	25x	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	+0.0440%	4h	0.2848	−0.522%	$7.1M	$7.9M	50x	as long as short
Bitget USELESSUSDT	+0.0528%	4h	0.2850	−0.445%	$5.5M	$8.8M	20x	as long as short
edgeX USELESSUSDC	+0.0588%	4h	0.2856	−0.235%	$21K	$190K	10x	as long as short
Extended USELESS-USD	+0.0600%	1h	0.2850	−0.444%	$300K	$968K	5x	as long as short
MEXC USELESS_USDT	+0.0602%	4h	0.2851	−0.400%	$10.0M	$5.9M	50x	as long as short
Binance USELESSUSDT	+0.0603%	4h	0.2851	−0.383%	$24.3M	$110.8M	50x	as long as short
BingX USELESS-USDT	+0.1094%	4h	0.2852	−0.372%	—	$4.9M	—	as long as short
Orderly PERP_USELESS_USDC	+0.1217%	4h	0.2862	−0.019%	$22K	$1.4M	10x	as long as short
Aster USELESSUSDT	+0.1288%	4h	0.2853	−0.321%	$661K	$2.2M	10x	as long as short
Variational Omni USELESS	+0.1388%	4h	0.2853	−0.322%	$1.2M	$1.8M	—	as long as short
Bybit USELESSUSDT	+0.1428%	4h	0.2853	−0.326%	$28.9M	$43.1M	13x	as long as short
Hyperliquid USELESS	+0.1517%	1h	0.2854	−0.285%	$14.6M	$19.8M	3x	as long as short
BloFin USELESS-USDT	+0.1696%	4h	0.2862	−0.001%	$1.2M	$2.0M	12x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.3006	+5.029%	$5K	$10K	5.5x	as long as short