Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0264%/8h= +28.9% APRpaid last 24h +0.005%

Price spread now: Gate against Polymarket Perps−0.067%7-day average −0.137% · you buy dearer than you sell

Net, funding: paid 7d − costs−$149as in the Funding arb table

Net, price: spread back to 7d avg − costs−$151as in the Price arb table

costs, in and out, $10k−$1581.576% of the position

Long on Polymarket Perps Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.089%+$9 on $10k

Price spread, last 7 days+0.066%+$7 · spread now −0.067%, 7d avg −0.137%

Together, before fees+0.155%+$15 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Gate is 0.069% dearer against Polymarket Perps than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.137%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.089% in total (about 4.7% 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	0.2824	0.0100	pay 0.0013% / 1h	12m 02s	$39K	$161K	3x
Short	Gate USELESS_USDT	0.2822	0.0364	get 0.0182% / 4h	12m 02s	$7.1M	$8.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.067%Rate

Funding earned: $55.44
Price spread: −0.067% → −0.137%: $6.94
Slippage, 4 orders: −$134.63
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$95.25
Costs to cover: 1.576%
Break-even: 19.0 days

Slippage from Polymarket Perps: live order book, 65 min ago; Gate: live order book, 1 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, 65 min ago	2.38 bp	9.1 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	8.16 bp	74.3 bp −$74	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	0.2825	+0.035%	$1.3M	$1.1M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2821	−0.103%	$32K	$70K	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0100%	4h	0.2826	+0.067%	$9.9M	$66.7M	10x	as long as short
ApeX Omni USELESSUSDT	+0.0100%	1h	0.2799	−0.878%	$39K	$702K	25x	as long as short
Polymarket Perps USELESS-USDlong	+0.0100%	1h	0.2824	long leg	$39K	$161K	3x
SunX USELESS-USDT	+0.0100%	4h	0.2823	−0.042%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2819	−0.156%	$19K	$498K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2822	−0.081%	$576K	$1.2M	20x	as long as short
Aevo USELESS-PERP	+0.0200%	1h	0.2824	+0.004%	$10K	—	3x	as long as short
KuCoin USELESSUSDTM	+0.0204%	4h	0.2826	+0.067%	$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	+0.0298%	4h	0.2826	+0.089%	$5.4M	$9.4M	20x	as long as short
Gate USELESS_USDTshort	+0.0364%	4h	0.2822	−0.067%	$7.1M	$8.3M	50x
MEXC USELESS_USDT	+0.0492%	4h	0.2823	−0.039%	$10.4M	$6.0M	50x	as long as short
Binance USELESSUSDT	+0.0494%	4h	0.2827	+0.096%	$23.8M	$116.5M	50x	as long as short
Extended USELESS-USD	+0.0496%	1h	0.2824	+0.018%	$297K	$966K	5x	as long as short
edgeX USELESSUSDC	+0.0496%	4h	0.2803	−0.729%	$21K	$193K	10x	as long as short
BingX USELESS-USDT	+0.0890%	4h	0.2826	+0.085%	—	$5.0M	—	as long as short
Bybit USELESSUSDT	+0.0950%	4h	0.2827	+0.124%	$27.8M	$45.8M	13x	as long as short
Aster USELESSUSDT	+0.1057%	4h	0.2819	−0.181%	$648K	$2.3M	10x	as long as short
Variational Omni USELESS	+0.1081%	4h	0.2807	−0.608%	$1.2M	$1.8M	—	as long as short
BloFin USELESS-USDT	+0.1217%	4h	0.2823	−0.021%	$1.2M	$2.0M	12x	as long as short
Orderly PERP_USELESS_USDC	+0.1323%	4h	0.2825	+0.039%	$22K	$1.4M	10x	as long as short
Hyperliquid USELESS	+0.1537%	1h	0.2828	+0.149%	$14.1M	$21.1M	3x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2971	+5.206%	$5K	$9K	5.5x	as long as short