Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.4450%/8h= −487.3% APRpaid last 24h −0.235%

Price spread now: edgeX against Injective−6.959%7-day average — · you buy dearer than you sell

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

Long on Injective Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropedgeX: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$134 a day on $10k at the current rate, and edgeX is 6.959% cheaper against Injective than usual: you would sell low and buy high (−$696 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective USELESS/USDC PERP	0.3187	0.5000	pay 0.0625% / 1h	18m 08s	$5K	$10K	5.5x
Short	edgeX USELESSUSDC	0.2966	0.0550	get 0.0275% / 4h	2h 18m	$22K	$201K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Injective. 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 InjectivebpFee edgeXbpOrdersPrice spread, now −6.959%Rate

Funding earned: −$934.6
Price spread: −6.959% → 0.000%: −$695.91
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$1,639.53
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; edgeX: live order book, 31 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 Injective no order-book sample	—	—	—	—	—
Sell edgeX live order book, 31 min ago	0.68 bp	74.2 bp −$74	doesn't fit	doesn't fit	doesn't fit

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

USELESS on 24 exchanges

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	0.2969	−6.855%	$1.4M	$1.1M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2961	−7.107%	$31K	$18K	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0100%	4h	0.2970	−6.805%	$11.0M	$75.7M	10x	as long as short
KuCoin USELESSUSDTM	+0.0100%	4h	0.2969	−6.855%	$5.5M	$10.7M	12x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2965	−6.974%	$29K	$284K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2972	−6.761%	—	$1.3M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2965	−6.962%	$39K	$555K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2964	−7.018%	$688K	$1.3M	20x	as long as short
Bitget USELESSUSDT	+0.0184%	4h	0.2969	−6.843%	$5.9M	$11.1M	20x	as long as short
Aevo USELESS-PERP	+0.0232%	1h	0.2973	−6.741%	$11K	—	3x	as long as short

Show all 24 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate USELESS_USDT	+0.0356%	4h	0.2965	−6.984%	$7.5M	$8.9M	50x	as long as short
ApeX Omni USELESSUSDT	+0.0371%	1h	0.2966	−6.946%	$56K	$687K	25x	as long as short
Aster USELESSUSDT	+0.0405%	4h	0.2972	−6.752%	$644K	$2.4M	10x	as long as short
edgeX USELESSUSDCshort	+0.0550%	4h	0.2966	−6.959%	$22K	$201K	10x
Extended USELESS-USD	+0.0592%	1h	0.2971	−6.798%	$282K	$1.6M	5x	as long as short
Binance USELESSUSDT	+0.0592%	4h	0.2973	−6.733%	$25.6M	$132.2M	50x	as long as short
MEXC USELESS_USDT	+0.0594%	4h	0.2970	−6.805%	$15.3M	$7.1M	50x	as long as short
Orderly PERP_USELESS_USDC	+0.1059%	4h	0.2973	−6.733%	$24K	$2.0M	10x	as long as short
BingX USELESS-USDT	+0.1068%	4h	0.2972	−6.758%	—	$5.7M	—	as long as short
Variational Omni USELESS	+0.1136%	4h	0.2968	−6.887%	$1.2M	$1.9M	—	as long as short
Bybit USELESSUSDT	+0.1168%	4h	0.2971	−6.796%	$29.4M	$52.9M	13x	as long as short
Hyperliquid USELESS	+0.1308%	1h	0.2972	−6.755%	$13.7M	$23.3M	3x	as long as short
BloFin USELESS-USDT	+0.1491%	4h	0.2967	−6.908%	$1.3M	$2.3M	12x	as long as short
Injective USELESS/USDC PERPlong	+0.5000%	1h	0.3187	long leg	$5K	$10K	5.5x