Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0112%/8h= +12.2% APRpaid last 24h 0.000%

Price spread now: OKX against Polymarket Perps+0.047%7-day average −0.099% · you sell dearer than you buy

Net, funding: paid 7d − costs−$191as in the Funding arb table

Net, price: spread back to 7d avg − costs−$184as in the Price arb table

costs, in and out, $10k−$1981.982% of the position

Long on Polymarket Perps Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.071%+$7 on $10k

Price spread, last 7 days−0.011%−$1 · spread now +0.047%, 7d avg −0.099%

Together, before fees+0.060%+$6 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and OKX is 0.146% dearer against Polymarket Perps than usual: you sell high and buy low: +$15 more if the spread goes back to its 7-day average of −0.099%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps USELESS-USD	0.2548	0.0100	pay 0.0013% / 1h	52m 16s	$35K	$219K	3x
Short	OKX USELESS-USDT-SWAP	0.2549	0.0212	get 0.0106% / 4h	52m 16s	$8.9M	$62.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.047%Rate

Funding earned: $23.49
Price spread: +0.047% → −0.099%: $14.59
Slippage, 4 orders: −$180.22
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee OKX: 5 bp × 2 orders: −$10
Net: −$160.14
Costs to cover: 1.982%
Break-even: 54.7 days

Slippage from Polymarket Perps: live order book, 5 min ago; OKX: live order book, 2 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, 5 min ago	6.65 bp	76.2 bp −$76	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	1.37 bp	22.9 bp −$23	103.2 bp −$1,032	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	0.2548	−0.008%	$1.2M	$1.2M	3x	as long as short
Hyperliquid USELESS	+0.0100%	1h	0.2550	+0.071%	$11.6M	$22.6M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2553	+0.188%	$28K	$70K	3x	as long as short
Gate USELESS_USDT	+0.0100%	4h	0.2542	−0.220%	$6.4M	$8.6M	50x	as long as short
Polymarket Perps USELESS-USDlong	+0.0100%	1h	0.2548	long leg	$35K	$219K	3x
SunX USELESS-USDT	+0.0100%	4h	0.2549	+0.043%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2546	−0.075%	$17K	$518K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2545	−0.090%	$558K	$1.1M	20x	as long as short
OKX USELESS-USDT-SWAPshort	+0.0212%	4h	0.2549	+0.047%	$8.9M	$62.5M	10x
Aevo USELESS-PERP	+0.0216%	1h	0.2552	+0.150%	$9K	—	3x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin USELESSUSDTM	+0.0248%	4h	0.2547	−0.035%	$4.6M	$10.6M	12x	as long as short
Bitget USELESSUSDT	+0.0466%	4h	0.2548	−0.004%	$4.9M	$10.4M	20x	as long as short
ApeX Omni USELESSUSDT	+0.0473%	1h	0.2549	+0.047%	$33K	$699K	25x	as long as short
edgeX USELESSUSDC	+0.0534%	4h	0.2544	−0.131%	$19K	$195K	10x	as long as short
Extended USELESS-USD	+0.0536%	1h	0.2548	+0.022%	$112K	$1.2M	5x	as long as short
Binance USELESSUSDT	+0.0537%	4h	0.2549	+0.054%	$21.3M	$122.8M	50x	as long as short
MEXC USELESS_USDT	+0.0540%	4h	0.2550	+0.067%	$10.2M	$6.2M	50x	as long as short
Aster USELESSUSDT	+0.0681%	4h	0.2547	−0.042%	$504K	$2.4M	10x	as long as short
BingX USELESS-USDT	+0.0714%	4h	0.2547	−0.012%	—	$5.3M	—	as long as short
Bybit USELESSUSDT	+0.0728%	4h	0.2550	+0.090%	$24.5M	$48.6M	13x	as long as short
Variational Omni USELESS	+0.0899%	4h	0.2557	+0.358%	$1.0M	$1.8M	—	as long as short
BloFin USELESS-USDT	+0.0992%	4h	0.2551	+0.126%	$1.1M	$1.9M	12x	as long as short
Orderly PERP_USELESS_USDC	+0.1342%	4h	0.2550	+0.086%	$19K	$1.3M	10x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2703	+6.080%	$5K	$11K	5.5x	as long as short