Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0261%/8h= −28.6% APRpaid last 24h +0.072%

Price spread now: Binance against ApeX Omni−0.032%7-day average +0.010% · you buy dearer than you sell

Net, funding: paid 7d − costs−$60as in the Funding arb table

Net, price: spread back to 7d avg − costs−$77as in the Price arb table

costs, in and out, $10k−$730.730% of the position

Long on ApeX Omni Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.132%+$13 on $10k

Price spread, last 4 days (all we have)+0.287%+$29 · spread now −0.032%, 7d avg +0.010%

Together, before fees+0.419%+$42 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Binance is 0.041% cheaper against ApeX Omni than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.010%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.132%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.132% in total (about 6.9% 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	ApeX Omni USELESSUSDT	0.2843	0.0529	pay 0.0066% / 1h	4m 56s	$52K	$701K	25x
Short	Binance USELESSUSDT	0.2842	0.0268	get 0.0134% / 4h	1h 04m	$23.6M	$124.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against ApeX Omni. 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 ApeX OmnibpFee BinancebpOrdersPrice spread, now −0.032%Rate

Funding earned: −$54.78
Price spread: −0.032% → +0.010%: −$4.13
Slippage, 4 orders: −$52.98
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$131.89
Costs to cover: 0.730%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 39 min ago; Binance: live order book, 8 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 ApeX Omni live order book, 39 min ago	10.78 bp	18.6 bp −$19	95.4 bp −$954	doesn't fit	doesn't fit
Sell Binance live order book, 8 min ago	0.18 bp	20.3 bp −$20	90.3 bp −$903	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	0.2839	−0.123%	$1.3M	$1.3M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2842	−0.050%	$30K	$19K	3x	as long as short
Bitget USELESSUSDT	+0.0100%	4h	0.2837	−0.218%	$5.5M	$10.5M	20x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2838	−0.183%	$28K	$267K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2842	−0.035%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2842	−0.046%	$20K	$515K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2842	−0.042%	$651K	$1.2M	20x	as long as short
KuCoin USELESSUSDTM	+0.0102%	4h	0.2839	−0.141%	$5.2M	$10.7M	12x	as long as short
OKX USELESS-USDT-SWAP	+0.0115%	4h	0.2840	−0.109%	$9.8M	$71.0M	10x	as long as short
Aster USELESSUSDT	+0.0124%	4h	0.2841	−0.081%	$557K	$2.2M	10x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo USELESS-PERP	+0.0144%	1h	0.2833	−0.342%	$10K	—	3x	as long as short
Hyperliquid USELESS	+0.0192%	1h	0.2844	+0.025%	$12.4M	$23.4M	3x	as long as short
edgeX USELESSUSDC	+0.0258%	4h	0.2845	+0.056%	$21K	$197K	10x	as long as short
MEXC USELESS_USDT	+0.0266%	4h	0.2841	−0.084%	$11.9M	$6.2M	50x	as long as short
Binance USELESSUSDTshort	+0.0268%	4h	0.2842	−0.032%	$23.6M	$124.6M	50x
Extended USELESS-USD	+0.0272%	1h	0.2842	−0.046%	$242K	$896K	5x	as long as short
Bybit USELESSUSDT	+0.0498%	4h	0.2841	−0.084%	$26.9M	$49.4M	13x	as long as short
BingX USELESS-USDT	+0.0508%	4h	0.2844	+0.039%	—	$5.3M	—	as long as short
ApeX Omni USELESSUSDTlong	+0.0529%	1h	0.2843	long leg	$52K	$701K	25x
Variational Omni USELESS	+0.0561%	4h	0.2851	+0.264%	$1.2M	$1.9M	—	as long as short
Gate USELESS_USDT	+0.0658%	4h	0.2836	−0.236%	$7.1M	$8.7M	50x	as long as short
BloFin USELESS-USDT	+0.0738%	4h	0.2839	−0.148%	$1.2M	$2.1M	12x	as long as short
Orderly PERP_USELESS_USDC	+0.0950%	4h	0.2839	−0.144%	$22K	$1.5M	10x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.3013	+5.990%	$5K	$11K	5.5x	as long as short