Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.1223%/8h= +133.9% APRpaid last 24h +0.200%

Price spread now: BloFin against Polymarket Perps+0.377%105s7-day average +0.041% · you sell dearer than you buy

Net, funding: paid 7d − costs+$21as 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−$580.584% of the position

Long on Polymarket Perps Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.791%+$79 on $10k

Price spread, last 3 days (all we have)−0.638%−$64 · spread now +0.377%, 7d avg +0.041%

Together, before fees+0.153%+$15 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$37 a day on $10k at the current rate, and BloFin is 0.336% dearer against Polymarket Perps than usual: you sell high and buy low: +$34 more if the spread goes back to its 7-day average of +0.041%. The two prices were read 105 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.791% in total (about 41.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps USELESS-USD	0.2814	0.0100	pay 0.0013% / 1h	27m 22s	$35K	$158K	3x
Short	BloFin USELESS-USDT	0.2824	0.1323	get 0.0661% / 4h	27m 22s	$1.2M	$2.0M	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.377%Rate

Funding earned: $256.82
Price spread: +0.377% → +0.041%: $33.61
Slippage, 4 orders: −$38.43
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee BloFin: 6 bp × 2 orders: −$12
Net: $232
Costs to cover: 0.584%
Break-even: 0.7 days

Slippage from Polymarket Perps: live order book, 49 min ago; BloFin: live order book, 6 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, 49 min ago	2.38 bp	9.1 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 6 min ago	0.53 bp	19.4 bp −$19	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	0.2814	+0.004%	$1.3M	$1.1M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2814	−0.011%	$31K	$70K	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0100%	4h	0.2817	+0.100%	$9.9M	$66.5M	10x	as long as short
Polymarket Perps USELESS-USDlong	+0.0100%	1h	0.2814	long leg	$35K	$158K	3x
SunX USELESS-USDT	+0.0100%	4h	0.2818	+0.128%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2817	+0.103%	$19K	$496K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2805	−0.320%	$569K	$1.2M	20x	as long as short
ApeX Omni USELESSUSDT	+0.0147%	1h	0.2815	+0.039%	$39K	$702K	25x	as long as short
Aevo USELESS-PERP	+0.0208%	1h	0.2820	+0.203%	$10K	—	3x	as long as short
KuCoin USELESSUSDTM	+0.0240%	4h	0.2814	0.000%	$5.2M	$10.0M	12x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget USELESSUSDT	+0.0328%	4h	0.2815	+0.025%	$5.3M	$9.4M	20x	as long as short
Gate USELESS_USDT	+0.0360%	4h	0.2813	−0.043%	$7.0M	$8.3M	50x	as long as short
edgeX USELESSUSDC	+0.0497%	4h	0.2823	+0.309%	$21K	$191K	10x	as long as short
MEXC USELESS_USDT	+0.0508%	4h	0.2815	+0.046%	$10.4M	$6.0M	50x	as long as short
Binance USELESSUSDT	+0.0510%	4h	0.2815	+0.051%	$23.7M	$116.1M	50x	as long as short
Extended USELESS-USD	+0.0512%	1h	0.2814	−0.006%	$297K	$966K	5x	as long as short
BingX USELESS-USDT	+0.0960%	4h	0.2817	+0.117%	—	$5.0M	—	as long as short
Bybit USELESSUSDT	+0.0985%	4h	0.2817	+0.107%	$27.8M	$45.7M	13x	as long as short
Aster USELESSUSDT	+0.1097%	4h	0.2816	+0.081%	$647K	$2.3M	10x	as long as short
Variational Omni USELESS	+0.1185%	4h	0.2823	+0.308%	$1.2M	$1.8M	—	as long as short
Orderly PERP_USELESS_USDC	+0.1322%	4h	0.2818	+0.128%	$22K	$1.4M	10x	as long as short
BloFin USELESS-USDTshort	+0.1323%	4h	0.2824	+0.377%	$1.2M	$2.0M	12x
Hyperliquid USELESS	+0.1541%	1h	0.2821	+0.245%	$14.0M	$21.0M	3x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2980	+5.892%	$5K	$9K	5.5x	as long as short