Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0076%/8h= +8.3% APRpaid last 24h −0.050%

Price spread now: ApeX Omni against Bitget−0.067%63s7-day average +0.024% · you buy dearer than you sell

Net, funding: paid 7d − costs−$115as 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−$1111.113% of the position

Long on Bitget Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.035%−$4 on $10k

Price spread, last 3 days (all we have)−0.048%−$5 · spread now −0.067%, 7d avg +0.024%

Together, before fees−0.083%−$8 on $10k · with fees, hour by hour

Funding pays, the price is against you. ApeX Omni is 0.091% cheaper against Bitget than usual: you would sell low and buy high (spread −0.067% now, against its 7-day average of +0.024%). If the spread goes back, that is −$9 on $10k: about 4.0 days of funding at the current rate (+$2 a day). The two prices were read 63 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	Bitget USELESSUSDT	0.2831	0.0396	pay 0.0198% / 4h	42m 25s	$5.4M	$9.3M	20x
Short	ApeX Omni USELESSUSDT	0.2829	0.0472	get 0.0059% / 1h	42m 25s	$39K	$702K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Bitget. 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 BitgetbpFee ApeX OmnibpOrdersPrice spread, now −0.067%Rate

Funding earned: $15.94
Price spread: −0.067% → +0.024%: −$9.09
Slippage, 4 orders: −$89.3
Fee Bitget: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$104.44
Costs to cover: 1.113%
Break-even: 52.9 days

Slippage from Bitget: live order book, 1 min ago; ApeX Omni: live order book, 36 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 Bitget live order book, 1 min ago	5.11 bp	27.0 bp −$27	100.6 bp −$1,006	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 36 min ago	9.14 bp	21.7 bp −$22	118.0 bp −$1,180	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	0.2830	−0.042%	$1.3M	$1.1M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2830	−0.042%	$31K	$70K	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0100%	4h	0.2833	+0.067%	$9.9M	$66.6M	10x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2831	0.000%	$32K	$154K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2831	−0.004%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2832	+0.042%	$19K	$494K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2819	−0.420%	$566K	$1.2M	20x	as long as short
Aevo USELESS-PERP	+0.0216%	1h	0.2833	+0.064%	$10K	—	3x	as long as short
KuCoin USELESSUSDTM	+0.0328%	4h	0.2831	−0.011%	$5.2M	$10.0M	12x	as long as short
Bitget USELESSUSDTlong	+0.0396%	4h	0.2831	long leg	$5.4M	$9.3M	20x

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate USELESS_USDT	+0.0452%	4h	0.2827	−0.124%	$7.1M	$8.3M	50x	as long as short
ApeX Omni USELESSUSDTshort	+0.0472%	1h	0.2829	−0.067%	$39K	$702K	25x
edgeX USELESSUSDC	+0.0521%	4h	0.2830	−0.038%	$21K	$192K	10x	as long as short
Binance USELESSUSDT	+0.0524%	4h	0.2833	+0.064%	$23.8M	$115.8M	50x	as long as short
MEXC USELESS_USDT	+0.0526%	4h	0.2834	+0.117%	$10.4M	$6.0M	50x	as long as short
Extended USELESS-USD	+0.0528%	1h	0.2830	−0.034%	$298K	$966K	5x	as long as short
BingX USELESS-USDT	+0.1130%	4h	0.2834	+0.124%	—	$5.0M	—	as long as short
Aster USELESSUSDT	+0.1139%	4h	0.2829	−0.071%	$651K	$2.3M	10x	as long as short
Bybit USELESSUSDT	+0.1145%	4h	0.2832	+0.025%	$28.0M	$45.5M	13x	as long as short
Variational Omni USELESS	+0.1329%	4h	0.2830	−0.043%	$1.2M	$1.7M	—	as long as short
Orderly PERP_USELESS_USDC	+0.1334%	4h	0.2831	+0.018%	$22K	$1.4M	10x	as long as short
Hyperliquid USELESS	+0.1365%	1h	0.2838	+0.240%	$14.0M	$21.0M	3x	as long as short
BloFin USELESS-USDT	+0.1546%	4h	0.2828	−0.102%	$1.2M	$2.0M	12x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2998	+5.885%	$5K	$9K	5.5x	as long as short