Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0358%/8h= +39.2% APRpaid last 24h +0.102%

Price spread now: MEXC against Polymarket Perps+0.008%7-day average −0.028% · you sell dearer than you buy

Net, funding: paid 7d − costs−$156as in the Funding arb table

Net, price: spread back to 7d avg − costs−$179as in the Price arb table

costs, in and out, $10k−$1831.827% of the position

Long on Polymarket Perps Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.263%+$26 on $10k

Price spread, last 7 days+0.023%+$2 · spread now +0.008%, 7d avg −0.028%

Together, before fees+0.286%+$29 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and MEXC is 0.035% 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 −0.028%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps USELESS-USD	0.2565	0.0100	pay 0.0013% / 1h	28m 13s	$32K	$223K	3x
Short	MEXC USELESS_USDT	0.2565	0.0458	get 0.0229% / 4h	28m 13s	$10.3M	$6.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.008%Rate

Funding earned: $75.18
Price spread: +0.008% → −0.028%: $3.55
Slippage, 4 orders: −$166.69
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee MEXC: 4 bp × 2 orders: −$8
Net: −$103.97
Costs to cover: 1.827%
Break-even: 16.7 days

Slippage from Polymarket Perps: live order book, 29 min ago; MEXC: live order book, 5 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, 29 min ago	6.65 bp	76.2 bp −$76	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 5 min ago	0.39 bp	16.1 bp −$16	44.5 bp −$445	146.5 bp −$14.6K	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	0.2564	−0.055%	$1.2M	$1.2M	3x	as long as short
Hyperliquid USELESS	+0.0100%	1h	0.2566	+0.031%	$11.4M	$22.9M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2568	+0.109%	$28K	$64K	3x	as long as short
Polymarket Perps USELESS-USDlong	+0.0100%	1h	0.2565	long leg	$32K	$223K	3x
SunX USELESS-USDT	+0.0100%	4h	0.2564	−0.035%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2560	−0.195%	$17K	$521K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2564	−0.051%	$574K	$1.0M	20x	as long as short
Aevo USELESS-PERP	+0.0200%	1h	0.2567	+0.060%	$9K	—	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0201%	4h	0.2565	−0.023%	$8.9M	$63.1M	10x	as long as short
KuCoin USELESSUSDTM	+0.0222%	4h	0.2565	−0.016%	$4.6M	$10.7M	12x	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	+0.0238%	4h	0.2565	−0.016%	$6.4M	$8.7M	50x	as long as short
Bitget USELESSUSDT	+0.0342%	4h	0.2565	−0.023%	$4.9M	$10.4M	20x	as long as short
ApeX Omni USELESSUSDT	+0.0420%	1h	0.2558	−0.281%	$33K	$693K	25x	as long as short
Binance USELESSUSDT	+0.0455%	4h	0.2565	+0.002%	$21.4M	$123.2M	50x	as long as short
Extended USELESS-USD	+0.0456%	1h	0.2562	−0.112%	$113K	$1.2M	5x	as long as short
MEXC USELESS_USDTshort	+0.0458%	4h	0.2565	+0.008%	$10.3M	$6.2M	50x
edgeX USELESSUSDC	+0.0461%	4h	0.2566	+0.051%	$19K	$197K	10x	as long as short
Aster USELESSUSDT	+0.0510%	4h	0.2568	+0.097%	$508K	$2.4M	10x	as long as short
Bybit USELESSUSDT	+0.0510%	4h	0.2565	−0.019%	$24.5M	$48.5M	13x	as long as short
BingX USELESS-USDT	+0.0532%	4h	0.2566	+0.019%	—	$5.3M	—	as long as short
Variational Omni USELESS	+0.0718%	4h	0.2564	−0.055%	$1.0M	$1.9M	—	as long as short
BloFin USELESS-USDT	+0.0779%	4h	0.2576	+0.421%	$1.1M	$1.9M	12x	as long as short
Orderly PERP_USELESS_USDC	+0.1318%	4h	0.2567	+0.090%	$19K	$1.2M	10x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2704	+5.419%	$5K	$11K	5.5x	as long as short