USELESS

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.1377%/8h= +150.8% APRnext payment +$1.72 per $10,000 · paid last 24h +0.260%

Price spread now: Hyperliquid against Polymarket Perps+0.203%7-day average +0.032% · you sell dearer than you buy

Net, funding: paid 7d − costs+$33as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$570.573% of the position

Long on Polymarket Perps Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.902%+$90 on $10k

Price spread, last 7 days−0.133%−$13 · spread now +0.203%, 7d avg +0.032%

Together, before fees+0.769%+ Points / potential airdropHyperliquid: Season 2 · farm board+$77 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$41 a day on $10k at the current rate, and Hyperliquid is 0.171% dearer against Polymarket Perps than usual: you sell high and buy low: +$17 more if the spread goes back to its 7-day average of +0.032%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.902% in total (about 47.0% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.72 per $10,000. 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	0.2810	0.0100	pay 0.0013% / 1h	37m 06s	$33K	$156K	3x
Short	Hyperliquid USELESS	0.2816	0.1477	get 0.0185% / 1h	37m 06s	$14.0M	$21.0M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.203%Rate

Funding earned: $289.17
Price spread: +0.203% → +0.032%: $17.1
Slippage, 4 orders: −$40.31
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $248.97
Costs to cover: 0.573%
Break-even: 1.0 days

Slippage from Polymarket Perps: live order book, 40 min ago; Hyperliquid: 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, 40 min ago	2.38 bp	9.1 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 6 min ago	0.35 bp	6.1 bp −$6	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	0.2812	+0.046%	$1.3M	$1.1M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2818	+0.271%	$31K	$70K	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0100%	4h	0.2807	−0.114%	$9.8M	$66.1M	10x	as long as short
Polymarket Perps USELESS-USDlong	+0.0100%	1h	0.2810	long leg	$33K	$156K	3x
SunX USELESS-USDT	+0.0100%	4h	0.2811	+0.039%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2808	−0.089%	$18K	$495K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2806	−0.171%	$568K	$1.2M	20x	as long as short
Aevo USELESS-PERP	+0.0208%	1h	0.2814	+0.139%	$10K	—	3x	as long as short
ApeX Omni USELESSUSDT	+0.0263%	1h	0.2826	+0.559%	$39K	$700K	25x	as long as short
KuCoin USELESSUSDTM	+0.0298%	4h	0.2808	−0.071%	$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	+0.0364%	4h	0.2810	−0.025%	$5.3M	$9.3M	20x	as long as short
Gate USELESS_USDT	+0.0396%	4h	0.2805	−0.189%	$7.0M	$8.3M	50x	as long as short
edgeX USELESSUSDC	+0.0518%	4h	0.2826	+0.556%	$21K	$192K	10x	as long as short
Extended USELESS-USD	+0.0520%	1h	0.2812	+0.067%	$297K	$966K	5x	as long as short
Binance USELESSUSDT	+0.0521%	4h	0.2810	−0.011%	$23.6M	$115.9M	50x	as long as short
MEXC USELESS_USDT	+0.0524%	4h	0.2811	+0.018%	$10.4M	$6.0M	50x	as long as short
BingX USELESS-USDT	+0.1040%	4h	0.2812	+0.068%	—	$5.0M	—	as long as short
Bybit USELESSUSDT	+0.1058%	4h	0.2807	−0.100%	$27.7M	$45.6M	13x	as long as short
Aster USELESSUSDT	+0.1127%	4h	0.2815	+0.154%	$647K	$2.3M	10x	as long as short
Variational Omni USELESS	+0.1280%	4h	0.2823	+0.452%	$1.2M	$1.8M	—	as long as short
Orderly PERP_USELESS_USDC	+0.1336%	4h	0.2813	+0.100%	$22K	$1.4M	10x	as long as short
BloFin USELESS-USDT	+0.1401%	4h	0.2813	+0.110%	$1.2M	$2.0M	12x	as long as short
Hyperliquid USELESSshort	+0.1477%	1h	0.2816	+0.203%	$14.0M	$21.0M	3x
Injective USELESS/USDC PERP	+0.5000%	1h	0.2995	+6.569%	$5K	$9K	5.5x	as long as short