Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0138%/8h= +15.1% APRpaid last 24h +0.105%

Price spread now: Binance against Polymarket Perps+0.011%7-day average −0.030% · you sell dearer than you buy

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs−$69as in the Price arb table

costs, in and out, $10k−$730.734% of the position

Long on Polymarket Perps Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.257%+$26 on $10k

Price spread, last 7 days+0.055%+$6 · spread now +0.011%, 7d avg −0.030%

Together, before fees+0.313%+$31 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Binance is 0.040% dearer against Polymarket Perps than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.030%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps USELESS-USD	0.2802	0.0415	pay 0.0052% / 1h	9m 08s	$28K	$202K	3x
Short	Binance USELESSUSDT	0.2802	0.0554	get 0.0277% / 4h	2h 09m	$23.7M	$117.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Polymarket Perps. 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 Polymarket PerpsbpFee BinancebpOrdersPrice spread, now +0.011%Rate

Funding earned: $29.01
Price spread: +0.011% → −0.030%: $4.03
Slippage, 4 orders: −$55.42
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Binance: 5 bp × 2 orders: −$10
Net: −$40.38
Costs to cover: 0.734%
Break-even: 16.7 days

Slippage from Polymarket Perps: live order book, 58 min ago; Binance: live order book, 4 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 Polymarket Perps live order book, 58 min ago	6.55 bp	20.9 bp −$21	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 4 min ago	0.35 bp	21.0 bp −$21	77.0 bp −$770	doesn't fit	doesn't fit

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	−0.054%	$1.3M	$1.2M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2803	+0.029%	$31K	$70K	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0100%	4h	0.2801	−0.029%	$9.9M	$65.9M	10x	as long as short
Gate USELESS_USDT	+0.0100%	4h	0.2798	−0.128%	$7.0M	$8.4M	50x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2810	+0.282%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2799	−0.118%	$18K	$502K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2797	−0.182%	$604K	$1.2M	20x	as long as short
KuCoin USELESSUSDTM	+0.0136%	4h	0.2799	−0.118%	$5.2M	$10.4M	12x	as long as short
Aevo USELESS-PERP	+0.0216%	1h	0.2802	+0.014%	$10K	—	3x	as long as short
Polymarket Perps USELESS-USDlong	+0.0415%	1h	0.2802	long leg	$28K	$202K	3x

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX USELESSUSDC	+0.0543%	4h	0.2813	+0.398%	$21K	$194K	10x	as long as short
Extended USELESS-USD	+0.0552%	1h	0.2801	−0.024%	$300K	$1.1M	5x	as long as short
MEXC USELESS_USDT	+0.0552%	4h	0.2802	−0.011%	$10.9M	$6.0M	50x	as long as short
Binance USELESSUSDTshort	+0.0554%	4h	0.2802	+0.011%	$23.7M	$117.0M	50x
Bitget USELESSUSDT	+0.0580%	4h	0.2798	−0.161%	$5.4M	$9.8M	20x	as long as short
BingX USELESS-USDT	+0.0738%	4h	0.2800	−0.068%	—	$5.1M	—	as long as short
Bybit USELESSUSDT	+0.0739%	4h	0.2801	−0.039%	$27.2M	$46.3M	13x	as long as short
ApeX Omni USELESSUSDT	+0.0776%	1h	0.2814	+0.425%	$39K	$699K	25x	as long as short
Variational Omni USELESS	+0.0901%	4h	0.2816	+0.495%	$1.2M	$1.7M	—	as long as short
Aster USELESSUSDT	+0.1079%	4h	0.2799	−0.096%	$623K	$2.3M	10x	as long as short
Hyperliquid USELESS	+0.1276%	1h	0.2802	−0.010%	$14.0M	$20.7M	3x	as long as short
Orderly PERP_USELESS_USDC	+0.1306%	4h	0.2803	+0.025%	$22K	$1.3M	10x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2989	+6.652%	$5K	$9K	5.5x	as long as short