Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0412%/8h= −45.1% APRpaid last 24h −0.110%

Price spread now: SunX against Extended−0.154%7-day average +0.052% · you buy dearer than you sell

Net, funding: paid 7d − costs−$403as in the Funding arb table

Net, price: spread back to 7d avg − costs−$398as in the Price arb table

costs, in and out, $10k−$3773.769% of the position

Long on Extended Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.263%−$26 on $10k

Price spread, last 4 days (all we have)−0.737%−$74 · spread now −0.154%, 7d avg +0.052%

Together, before fees−1.000%+ Points / potential airdropExtended: Active · farm board−$100 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and SunX is 0.207% cheaper against Extended than usual: you would sell low and buy high (−$21 if the spread goes back to its 7-day average of +0.052%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.263% in total (about -13.7% 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	Extended USELESS-USD	0.2987	0.0512	pay 0.0064% / 1h	32m 24s	$283K	$1.7M	5x
Short	SunX USELESS-USDT	0.2982	0.0100	get 0.0050% / 4h	3h 32m	—	$1.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Extended. 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 ExtendedbpFee SunXbpOrdersPrice spread, now −0.154%Rate

Funding earned: −$86.52
Price spread: −0.154% → +0.052%: −$20.66
Slippage, 4 orders: −$363.9
Fee Extended: 2.5 bp × 2 orders: −$5
Fee SunX: 4 bp × 2 orders: −$8
Net: −$484.08
Costs to cover: 3.769%
Break-even: never at this rate

Slippage from Extended: live order book, 1 min ago; SunX: live order book, 2 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 Extended live order book, 1 min ago	71.68 bp	89.3 bp −$89	415.9 bp −$4,159	doesn't fit	doesn't fit
Sell SunX live order book, 2 min ago	80.08 bp	99.5 bp −$100	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	0.2987	+0.003%	$1.4M	$1.1M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2982	−0.172%	$32K	$19K	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0100%	4h	0.2979	−0.285%	$10.9M	$78.1M	10x	as long as short
Gate USELESS_USDT	+0.0100%	4h	0.2974	−0.429%	$7.5M	$9.0M	50x	as long as short
Bitget USELESSUSDT	+0.0100%	4h	0.2975	−0.409%	$5.7M	$11.4M	20x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2966	−0.690%	$29K	$284K	3x	as long as short
SunX USELESS-USDTshort	+0.0100%	4h	0.2982	−0.154%	—	$1.4M	10x
HTX USELESS-USDT	+0.0100%	4h	0.2977	−0.352%	$19K	$515K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2985	−0.064%	$683K	$1.3M	20x	as long as short
KuCoin USELESSUSDTM	+0.0120%	4h	0.2975	−0.415%	$5.5M	$11.0M	12x	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	+0.0200%	1h	0.2960	−0.909%	$11K	—	3x	as long as short
Aster USELESSUSDT	+0.0341%	4h	0.2975	−0.399%	$617K	$2.3M	10x	as long as short
edgeX USELESSUSDC	+0.0467%	4h	0.2998	+0.363%	$22K	$200K	10x	as long as short
MEXC USELESS_USDT	+0.0510%	4h	0.2976	−0.355%	$14.0M	$6.6M	50x	as long as short
Extended USELESS-USDlong	+0.0512%	1h	0.2987	long leg	$283K	$1.7M	5x
Binance USELESSUSDT	+0.0516%	4h	0.2980	−0.245%	$25.6M	$133.2M	50x	as long as short
BingX USELESS-USDT	+0.0762%	4h	0.2979	−0.265%	—	$5.5M	—	as long as short
Variational Omni USELESS	+0.0817%	4h	0.3007	+0.668%	$1.2M	$1.9M	—	as long as short
Orderly PERP_USELESS_USDC	+0.0956%	4h	0.2982	−0.171%	$22K	$1.9M	10x	as long as short
ApeX Omni USELESSUSDT	+0.1073%	1h	0.2966	−0.703%	$55K	$700K	25x	as long as short
Hyperliquid USELESS	+0.1105%	1h	0.2979	−0.255%	$13.4M	$24.3M	3x	as long as short
Bybit USELESSUSDT	+0.1431%	4h	0.2978	−0.315%	$29.5M	$53.3M	13x	as long as short
BloFin USELESS-USDT	+0.1487%	4h	0.2980	−0.235%	$1.3M	$2.3M	12x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.3176	+6.317%	$5K	$11K	5.5x	as long as short