Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0482%/8h= +52.8% APRpaid last 24h +0.132%

Price spread now: BingX against Polymarket Perps−0.007%7-day average −0.042% · you buy dearer than you sell

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs−$65as in the Price arb table

costs, in and out, $10k−$680.680% of the position

Long on Polymarket Perps Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.359%+$36 on $10k

Price spread, last 7 days+0.050%+$5 · spread now −0.007%, 7d avg −0.042%

Together, before fees+0.409%+$41 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$14 a day on $10k at the current rate, and BingX is 0.035% dearer against Polymarket Perps than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.042%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps USELESS-USD	0.2879	0.0100	pay 0.0013% / 1h	14m 22s	$28K	$281K	3x
Short	BingX USELESS-USDT	0.2879	0.0582	get 0.0291% / 4h	14m 22s	—	$5.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.007%Rate

Funding earned: $101.22
Price spread: −0.007% → −0.042%: $3.49
Slippage, 4 orders: −$50.04
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee BingX: 5 bp × 2 orders: −$10
Net: $36.68
Costs to cover: 0.680%
Break-even: 4.5 days

Slippage from Polymarket Perps: live order book, 23 min ago; BingX: live order book, 11 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, 23 min ago	0.52 bp	6.2 bp −$6	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 11 min ago	3.14 bp	18.4 bp −$18	73.0 bp −$730	369.4 bp −$36.9K	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	0.2878	−0.059%	$1.3M	$1.2M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2872	−0.245%	$30K	$19K	3x	as long as short
KuCoin USELESSUSDTM	+0.0100%	4h	0.2879	+0.007%	$5.2M	$10.8M	12x	as long as short
Bitget USELESSUSDT	+0.0100%	4h	0.2877	−0.080%	$5.5M	$11.0M	20x	as long as short
Polymarket Perps USELESS-USDlong	+0.0100%	1h	0.2879	long leg	$28K	$281K	3x
SunX USELESS-USDT	+0.0100%	4h	0.2880	+0.014%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2873	−0.229%	$19K	$514K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2878	−0.028%	$657K	$1.2M	20x	as long as short
OKX USELESS-USDT-SWAP	+0.0108%	4h	0.2877	−0.083%	$10.0M	$73.3M	10x	as long as short
Aevo USELESS-PERP	+0.0168%	1h	0.2880	+0.035%	$10K	—	3x	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	+0.0242%	4h	0.2877	−0.094%	$7.2M	$8.9M	50x	as long as short
edgeX USELESSUSDC	+0.0347%	4h	0.2874	−0.200%	$21K	$199K	10x	as long as short
Aster USELESSUSDT	+0.0359%	4h	0.2875	−0.140%	$566K	$2.2M	10x	as long as short
MEXC USELESS_USDT	+0.0366%	4h	0.2880	+0.010%	$12.8M	$6.3M	50x	as long as short
Extended USELESS-USD	+0.0368%	1h	0.2878	−0.031%	$276K	$1.7M	5x	as long as short
Binance USELESSUSDT	+0.0372%	4h	0.2879	−0.021%	$24.0M	$127.3M	50x	as long as short
ApeX Omni USELESSUSDT	+0.0479%	1h	0.2860	−0.670%	$53K	$700K	25x	as long as short
BingX USELESS-USDTshort	+0.0582%	4h	0.2879	−0.007%	—	$5.4M	—
Variational Omni USELESS	+0.0643%	4h	0.2875	−0.142%	$1.2M	$1.9M	—	as long as short
Bybit USELESSUSDT	+0.0674%	4h	0.2879	+0.007%	$27.3M	$50.5M	13x	as long as short
BloFin USELESS-USDT	+0.0891%	4h	0.2877	−0.080%	$1.2M	$2.2M	12x	as long as short
Orderly PERP_USELESS_USDC	+0.0970%	4h	0.2879	−0.017%	$21K	$1.7M	10x	as long as short
Hyperliquid USELESS	+0.1177%	1h	0.2881	+0.049%	$12.6M	$23.8M	3x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.3027	+5.116%	$5K	$11K	5.5x	as long as short