Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0001%/8hpaid last 24h −0.011%

Price spread now: Gate against ApeX Omni+0.089%51s7-day average −0.144% · you sell dearer than you buy

Net, funding: paid 7d − costs−$99as 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−$970.974% of the position

Long on ApeX Omni Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.020%−$2 on $10k

Price spread, last 3 days (all we have)+0.191%+$19 · spread now +0.089%, 7d avg −0.144%

Together, before fees+0.171%+$17 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: Gate is 0.233% dearer against ApeX Omni than usual: you sell high and buy low, +$23 on $10k if it goes back to its 7-day average of −0.144%. The two prices were read 51 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	ApeX Omni USELESSUSDT	0.2821	0.0101	pay 0.0013% / 1h	6m 36s	$33K	$692K	25x
Short	Gate USELESS_USDT	0.2823	0.0100	get 0.0050% / 4h	6m 36s	$6.9M	$7.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.089%Rate

Funding earned: −$0.18
Price spread: +0.089% → −0.144%: $23.27
Slippage, 4 orders: −$72.4
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$74.31
Costs to cover: 0.974%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 26 min ago; Gate: live order book, 1 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, 26 min ago	10.29 bp	19.0 bp −$19	105.8 bp −$1,058	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	1.42 bp	18.0 bp −$18	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	0.2833	+0.425%	$1.3M	$1.0M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2831	+0.362%	$31K	$74K	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0100%	4h	0.2827	+0.206%	$9.8M	$61.5M	10x	as long as short
Gate USELESS_USDTshort	+0.0100%	4h	0.2823	+0.089%	$6.9M	$7.4M	50x
KuCoin USELESSUSDTM	+0.0100%	4h	0.2828	+0.230%	$5.1M	$8.9M	12x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2817	−0.160%	$27K	$117K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2821	−0.004%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2820	−0.046%	$19K	$363K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2824	+0.092%	$546K	$1.4M	20x	as long as short
ApeX Omni USELESSUSDTlong	+0.0101%	1h	0.2821	long leg	$33K	$692K	25x

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo USELESS-PERP	+0.0200%	1h	0.2813	−0.274%	$10K	—	3x	as long as short
Bitget USELESSUSDT	+0.0428%	4h	0.2832	+0.379%	$5.4M	$8.2M	20x	as long as short
Variational Omni USELESS	+0.0460%	4h	0.2826	+0.168%	$1.2M	$1.6M	—	as long as short
BingX USELESS-USDT	+0.0466%	4h	0.2830	+0.305%	—	$4.7M	—	as long as short
Bybit USELESSUSDT	+0.0471%	4h	0.2830	+0.333%	$28.3M	$40.8M	13x	as long as short
MEXC USELESS_USDT	+0.0484%	4h	0.2831	+0.365%	$20.1M	$5.5M	50x	as long as short
Binance USELESSUSDT	+0.0485%	4h	0.2831	+0.351%	$24.6M	$104.0M	50x	as long as short
Extended USELESS-USD	+0.0488%	1h	0.2830	+0.305%	$298K	$970K	5x	as long as short
edgeX USELESSUSDC	+0.0490%	4h	0.2823	+0.072%	$21K	$188K	10x	as long as short
BloFin USELESS-USDT	+0.0690%	4h	0.2835	+0.503%	$1.2M	$1.9M	12x	as long as short
Orderly PERP_USELESS_USDC	+0.0969%	4h	0.2821	−0.004%	$22K	$1.4M	10x	as long as short
Aster USELESSUSDT	+0.1026%	4h	0.2832	+0.398%	$651K	$2.1M	10x	as long as short
Hyperliquid USELESS	+0.1248%	1h	0.2840	+0.684%	$14.1M	$18.9M	3x	as long as short
Injective USELESS/USDC PERP	+0.4654%	1h	0.2981	+5.682%	$5K	$14K	5.5x	as long as short