Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0429%/8h= +47.0% APRpaid last 24h +0.039%

Price spread now: ApeX Omni against SunX+0.230%7-day average −0.032% · you sell dearer than you buy

Net, funding: paid 7d − costs−$157as in the Funding arb table

Net, price: spread back to 7d avg − costs−$141as in the Price arb table

costs, in and out, $10k−$1671.671% of the position

Long on SunX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.104%+$10 on $10k

Price spread, last 4 days (all we have)−0.255%−$26 · spread now +0.230%, 7d avg −0.032%

Together, before fees−0.152%−$15 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$13 a day on $10k at the current rate, and ApeX Omni is 0.262% dearer against SunX than usual: you sell high and buy low: +$26 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 0.104% in total (about 5.4% 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	SunX USELESS-USDT	0.2778	0.0100	pay 0.0050% / 4h	1h 44m	—	$1.4M	10x
Short	ApeX Omni USELESSUSDT	0.2784	0.0529	get 0.0066% / 1h	44m 41s	$49K	$700K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against SunX. 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 SunXbpFee ApeX OmnibpOrdersPrice spread, now +0.230%Rate

Funding earned: $90.08
Price spread: +0.230% → −0.032%: $26.23
Slippage, 4 orders: −$149.14
Fee SunX: 4 bp × 2 orders: −$8
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$50.84
Costs to cover: 1.671%
Break-even: 11.0 days

Slippage from SunX: live order book, 10 min ago; ApeX Omni: live order book, 64 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 SunX live order book, 10 min ago	44.82 bp	63.3 bp −$63	doesn't fit	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 64 min ago	11.14 bp	20.9 bp −$21	109.9 bp −$1,099	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	0.2797	+0.709%	$1.3M	$1.2M	3x	as long as short
Aster USELESSUSDT	+0.0100%	4h	0.2798	+0.738%	$548K	$2.2M	10x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2795	+0.623%	$30K	$19K	3x	as long as short
Bitget USELESSUSDT	+0.0100%	4h	0.2795	+0.641%	$5.4M	$10.4M	20x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2785	+0.256%	$26K	$258K	3x	as long as short
SunX USELESS-USDTlong	+0.0100%	4h	0.2778	long leg	—	$1.4M	10x
HTX USELESS-USDT	+0.0100%	4h	0.2788	+0.382%	$19K	$517K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2792	+0.522%	$646K	$1.2M	20x	as long as short
KuCoin USELESSUSDTM	+0.0140%	4h	0.2793	+0.572%	$5.1M	$10.6M	12x	as long as short
Aevo USELESS-PERP	+0.0152%	1h	0.2791	+0.487%	$10K	—	3x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX USELESS-USDT-SWAP	+0.0165%	4h	0.2797	+0.691%	$9.6M	$69.3M	10x	as long as short
edgeX USELESSUSDC	+0.0273%	4h	0.2788	+0.364%	$21K	$197K	10x	as long as short
Extended USELESS-USD	+0.0280%	1h	0.2795	+0.639%	$138K	$890K	5x	as long as short
MEXC USELESS_USDT	+0.0282%	4h	0.2799	+0.756%	$11.4M	$6.1M	50x	as long as short
Binance USELESSUSDT	+0.0285%	4h	0.2798	+0.720%	$23.2M	$123.6M	50x	as long as short
Hyperliquid USELESS	+0.0389%	1h	0.2798	+0.724%	$12.2M	$23.4M	3x	as long as short
Gate USELESS_USDT	+0.0404%	4h	0.2792	+0.500%	$7.0M	$8.6M	50x	as long as short
ApeX Omni USELESSUSDTshort	+0.0529%	1h	0.2784	+0.230%	$49K	$700K	25x
BingX USELESS-USDT	+0.0532%	4h	0.2795	+0.616%	—	$5.3M	—	as long as short
Variational Omni USELESS	+0.0556%	4h	0.2784	+0.236%	$1.1M	$1.8M	—	as long as short
Bybit USELESSUSDT	+0.0588%	4h	0.2796	+0.652%	$26.2M	$48.7M	13x	as long as short
BloFin USELESS-USDT	+0.0828%	4h	0.2797	+0.691%	$1.2M	$2.1M	12x	as long as short
Orderly PERP_USELESS_USDC	+0.1066%	4h	0.2793	+0.569%	$21K	$1.4M	10x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2949	+6.160%	$5K	$11K	5.5x	as long as short