Funding arb · Price arb /

USELESS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.068%

Price spread now: Bitget against HTX−0.156%7-day average +0.089% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on HTX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.133%+$13 on $10k

Price spread, last 4 days (all we have)+0.396%+$40 · spread now −0.156%, 7d avg +0.089%

Together, before fees+0.530%+$53 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: Bitget is 0.245% cheaper against HTX than usual: you would sell low and buy high, −$24 on $10k if it goes back to its 7-day average of +0.089%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX USELESS-USDT	0.2756	0.0100	pay 0.0050% / 4h	2h 17m	$19K	$518K	20x
Short	Bitget USELESSUSDT	0.2752	0.0100	get 0.0050% / 4h	2h 17m	$5.2M	$10.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against HTX. 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 HTXbpFee BitgetbpOrdersPrice spread, now −0.156%Rate

Funding earned: $0
Price spread: −0.156% → +0.089%: −$24.48
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$48.48
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: HTX: live order book, 31 min ago; Bitget: live order book, 1 min ago. Net counts fees only.

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 HTX live order book, 31 min ago	43.33 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 1 min ago	5.27 bp	44.4 bp −$44	162.4 bp −$1,624	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	0.2753	−0.134%	$1.3M	$1.2M	3x	as long as short
Hyperliquid USELESS	+0.0100%	1h	0.2755	−0.033%	$12.0M	$23.3M	3x	as long as short
Aster USELESSUSDT	+0.0100%	4h	0.2752	−0.171%	$539K	$2.1M	10x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2755	−0.056%	$29K	$19K	3x	as long as short
Bitget USELESSUSDTshort	+0.0100%	4h	0.2752	−0.156%	$5.2M	$10.4M	20x
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2765	+0.319%	$27K	$253K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2754	−0.073%	—	$1.4M	10x	as long as short
HTX USELESS-USDTlong	+0.0100%	4h	0.2756	long leg	$19K	$518K	20x
Phemex USELESSUSDT	+0.0100%	4h	0.2748	−0.287%	$648K	$1.1M	20x	as long as short
KuCoin USELESSUSDTM	+0.0108%	4h	0.2754	−0.065%	$5.0M	$10.6M	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	+0.0136%	1h	0.2756	−0.028%	$10K	—	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0156%	4h	0.2760	+0.120%	$9.5M	$67.7M	10x	as long as short
edgeX USELESSUSDC	+0.0207%	4h	0.2720	−1.323%	$20K	$196K	10x	as long as short
MEXC USELESS_USDT	+0.0236%	4h	0.2755	−0.062%	$11.2M	$6.1M	50x	as long as short
Binance USELESSUSDT	+0.0237%	4h	0.2754	−0.066%	$22.9M	$123.0M	50x	as long as short
Extended USELESS-USD	+0.0240%	1h	0.2755	−0.038%	$137K	$1.2M	5x	as long as short
Bybit USELESSUSDT	+0.0322%	4h	0.2758	+0.069%	$26.0M	$48.7M	13x	as long as short
ApeX Omni USELESSUSDT	+0.0391%	1h	0.2701	−2.006%	$48K	$698K	25x	as long as short
BingX USELESS-USDT	+0.0410%	4h	0.2756	−0.007%	—	$5.3M	—	as long as short
Variational Omni USELESS	+0.0434%	4h	0.2715	−1.499%	$1.0M	$1.8M	—	as long as short
BloFin USELESS-USDT	+0.0599%	4h	0.2772	+0.551%	$1.2M	$2.1M	12x	as long as short
Gate USELESS_USDT	+0.0734%	4h	0.2754	−0.080%	$6.9M	$8.6M	50x	as long as short
Orderly PERP_USELESS_USDC	+0.1150%	4h	0.2758	+0.054%	$22K	$1.2M	10x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2826	+2.536%	$5K	$11K	5.5x	as long as short