Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.008%

Price spread now: SunX against Polymarket Perps+0.323%50s7-day average +0.031% · you sell dearer than you buy

Net, funding: paid 7d − costs−$165as 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−$1681.682% of the position

Long on Polymarket Perps Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.036%+$4 on $10k

Price spread, last 3 days (all we have)−0.970%−$97 · spread now +0.323%, 7d avg +0.031%

Together, before fees−0.934%−$93 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: SunX is 0.291% dearer against Polymarket Perps than usual: you sell high and buy low, +$29 on $10k if it goes back to its 7-day average of +0.031%. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps USELESS-USD	0.2821	0.0100	pay 0.0013% / 1h	53m 29s	$27K	$140K	3x
Short	SunX USELESS-USDT	0.2830	0.0100	get 0.0050% / 4h	1h 53m	—	$1.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.323%Rate

Funding earned: $0
Price spread: +0.323% → +0.031%: $29.11
Slippage, 4 orders: −$152.18
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee SunX: 4 bp × 2 orders: −$8
Net: −$139.08
Costs to cover: 1.682%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 28 min ago; SunX: live order book, 11 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, 28 min ago	2.89 bp	7.9 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 11 min ago	46.23 bp	67.1 bp −$67	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	0.2824	+0.099%	$1.3M	$1.1M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2825	+0.140%	$31K	$70K	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0100%	4h	0.2819	−0.064%	$10.0M	$63.7M	10x	as long as short
ApeX Omni USELESSUSDT	+0.0100%	1h	0.2854	+1.159%	$41K	$699K	25x	as long as short
Polymarket Perps USELESS-USDlong	+0.0100%	1h	0.2821	long leg	$27K	$140K	3x
SunX USELESS-USDTshort	+0.0100%	4h	0.2830	+0.323%	—	$1.4M	10x
HTX USELESS-USDT	+0.0100%	4h	0.2830	+0.308%	$20K	$392K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2811	−0.358%	$573K	$1.2M	20x	as long as short
Aevo USELESS-PERP	+0.0232%	1h	0.2830	+0.298%	$10K	—	3x	as long as short
KuCoin USELESSUSDTM	+0.0286%	4h	0.2822	+0.014%	$5.2M	$9.7M	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	+0.0294%	4h	0.2821	−0.025%	$7.0M	$7.9M	50x	as long as short
Bitget USELESSUSDT	+0.0524%	4h	0.2823	+0.053%	$5.4M	$8.9M	20x	as long as short
edgeX USELESSUSDC	+0.0582%	4h	0.2850	+1.034%	$21K	$190K	10x	as long as short
Extended USELESS-USD	+0.0584%	1h	0.2823	+0.071%	$297K	$968K	5x	as long as short
MEXC USELESS_USDT	+0.0584%	4h	0.2824	+0.106%	$9.9M	$5.7M	50x	as long as short
Binance USELESSUSDT	+0.0586%	4h	0.2822	+0.017%	$24.0M	$111.3M	50x	as long as short
Hyperliquid USELESS	+0.1069%	1h	0.2823	+0.078%	$14.5M	$19.8M	3x	as long as short
Orderly PERP_USELESS_USDC	+0.1227%	4h	0.2832	+0.379%	$22K	$1.4M	10x	as long as short
Aster USELESSUSDT	+0.1247%	4h	0.2825	+0.125%	$654K	$2.2M	10x	as long as short
BingX USELESS-USDT	+0.1354%	4h	0.2823	+0.060%	—	$4.9M	—	as long as short
Bybit USELESSUSDT	+0.1423%	4h	0.2824	+0.106%	$28.7M	$43.2M	13x	as long as short
Variational Omni USELESS	+0.1449%	4h	0.2870	+1.741%	$1.2M	$1.8M	—	as long as short
BloFin USELESS-USDT	+0.1872%	4h	0.2856	+1.212%	$1.2M	$1.9M	12x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.3032	+7.472%	$5K	$9K	5.5x	as long as short