Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0034%/8h= −3.7% APRpaid last 24h −0.105%

Price spread now: Polymarket Perps against Binance+0.242%46s7-day average +0.030% · you sell dearer than you buy

Net, funding: paid 7d − costs−$97as 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−$710.710% of the position

Long on Binance Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.257%−$26 on $10k

Price spread, last 7 days−0.308%−$31 · spread now +0.242%, 7d avg +0.030%

Together, before fees−0.565%−$57 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Polymarket Perps is 0.212% dearer against Binance than usual: you sell high and buy low (spread +0.242% now, against its 7-day average of +0.030%): +$21 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 21 days. At the pace of the last 7 days (−0.257% in total) that is about 5.8 days. The two prices were read 46 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	Binance USELESSUSDT	0.2813	0.0550	pay 0.0275% / 4h	2h 20m	$23.8M	$117.2M	50x
Short	Polymarket Perps USELESS-USD	0.2819	0.0516	get 0.0065% / 1h	20m 42s	$29K	$200K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Binance. 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 BinancebpFee Polymarket PerpsbpOrdersPrice spread, now +0.242%Rate

Funding earned: −$7.16
Price spread: +0.242% → +0.030%: $21.24
Slippage, 4 orders: −$53.05
Fee Binance: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$56.97
Costs to cover: 0.710%
Break-even: never at this rate

Slippage from Binance: live order book, 7 min ago; Polymarket Perps: live order book, 46 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 Binance live order book, 7 min ago	0.18 bp	18.6 bp −$19	82.4 bp −$824	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 46 min ago	6.55 bp	12.0 bp −$12	doesn't fit	doesn't fit	doesn't fit

USELESS on 23 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	0.2810	−0.106%	$1.3M	$1.2M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2812	−0.028%	$31K	$70K	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0100%	4h	0.2812	−0.018%	$9.9M	$66.2M	10x	as long as short
Gate USELESS_USDT	+0.0100%	4h	0.2810	−0.082%	$7.1M	$8.4M	50x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2821	+0.299%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2806	−0.245%	$18K	$519K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2808	−0.163%	$605K	$1.2M	20x	as long as short
KuCoin USELESSUSDTM	+0.0126%	4h	0.2809	−0.135%	$5.2M	$10.3M	12x	as long as short
Aevo USELESS-PERP	+0.0216%	1h	0.2818	+0.196%	$10K	—	3x	as long as short
Polymarket Perps USELESS-USDshort	+0.0516%	1h	0.2819	+0.242%	$29K	$200K	3x

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX USELESSUSDC	+0.0547%	4h	0.2822	+0.341%	$21K	$194K	10x	as long as short
Binance USELESSUSDTlong	+0.0550%	4h	0.2813	long leg	$23.8M	$117.2M	50x
MEXC USELESS_USDT	+0.0556%	4h	0.2812	−0.021%	$11.0M	$6.0M	50x	as long as short
Extended USELESS-USD	+0.0560%	1h	0.2812	−0.009%	$302K	$1.1M	5x	as long as short
Bitget USELESSUSDT	+0.0576%	4h	0.2812	−0.025%	$5.4M	$9.8M	20x	as long as short
BingX USELESS-USDT	+0.0606%	4h	0.2814	+0.046%	—	$5.1M	—	as long as short
Bybit USELESSUSDT	+0.0704%	4h	0.2812	−0.032%	$27.3M	$46.4M	13x	as long as short
ApeX Omni USELESSUSDT	+0.0749%	1h	0.2821	+0.295%	$39K	$699K	25x	as long as short
Variational Omni USELESS	+0.0863%	4h	0.2817	+0.152%	$1.2M	$1.7M	—	as long as short
Aster USELESSUSDT	+0.1088%	4h	0.2815	+0.081%	$627K	$2.3M	10x	as long as short
Orderly PERP_USELESS_USDC	+0.1283%	4h	0.2818	+0.203%	$22K	$1.3M	10x	as long as short
Hyperliquid USELESS	+0.1369%	1h	0.2815	+0.075%	$14.1M	$20.7M	3x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2984	+6.105%	$5K	$9K	5.5x	as long as short