Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0058%/8h= −6.4% APRpaid last 24h +0.015%

Price spread now: ApeX Omni against KuCoin−0.089%7-day average +0.050% · you buy dearer than you sell

Net, funding: paid 7d − costs−$164as in the Funding arb table

Net, price: spread back to 7d avg − costs−$161as in the Price arb table

costs, in and out, $10k−$1481.475% of the position

Long on KuCoin Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.168%−$17 on $10k

Price spread, last 3 days (all we have)+0.038%+$4 · spread now −0.089%, 7d avg +0.050%

Together, before fees−0.130%−$13 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and ApeX Omni is 0.139% cheaper against KuCoin than usual: you would sell low and buy high (−$14 if the spread goes back to its 7-day average of +0.050%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin USELESSUSDTM	0.2823	0.0314	pay 0.0157% / 4h	38m 51s	$5.2M	$10.0M	12x
Short	ApeX Omni USELESSUSDT	0.2821	0.0256	get 0.0032% / 1h	38m 51s	$39K	$700K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against KuCoin. 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 KuCoinbpFee ApeX OmnibpOrdersPrice spread, now −0.089%Rate

Funding earned: −$12.2
Price spread: −0.089% → +0.050%: −$13.89
Slippage, 4 orders: −$125.5
Fee KuCoin: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$173.59
Costs to cover: 1.475%
Break-even: never at this rate

Slippage from KuCoin: live order book, 4 min ago; ApeX Omni: live order book, 40 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 KuCoin live order book, 4 min ago	10.42 bp	50.0 bp −$50	doesn't fit	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 40 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	0.2825	+0.039%	$1.3M	$1.1M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2825	+0.050%	$31K	$70K	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0100%	4h	0.2824	+0.004%	$9.9M	$66.4M	10x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2827	+0.124%	$33K	$156K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2829	+0.213%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2824	+0.035%	$19K	$495K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2819	−0.156%	$570K	$1.2M	20x	as long as short
Aevo USELESS-PERP	+0.0216%	1h	0.2828	+0.145%	$10K	—	3x	as long as short
ApeX Omni USELESSUSDTshort	+0.0256%	1h	0.2821	−0.089%	$39K	$700K	25x
KuCoin USELESSUSDTMlong	+0.0314%	4h	0.2823	long leg	$5.2M	$10.0M	12x

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget USELESSUSDT	+0.0380%	4h	0.2822	−0.050%	$5.3M	$9.3M	20x	as long as short
Gate USELESS_USDT	+0.0420%	4h	0.2821	−0.089%	$7.1M	$8.3M	50x	as long as short
edgeX USELESSUSDC	+0.0510%	4h	0.2827	+0.130%	$21K	$191K	10x	as long as short
MEXC USELESS_USDT	+0.0522%	4h	0.2824	+0.035%	$10.4M	$6.0M	50x	as long as short
Binance USELESSUSDT	+0.0525%	4h	0.2824	+0.013%	$23.8M	$115.9M	50x	as long as short
Extended USELESS-USD	+0.0528%	1h	0.2823	−0.012%	$297K	$966K	5x	as long as short
Bybit USELESSUSDT	+0.1094%	4h	0.2824	+0.021%	$27.9M	$45.6M	13x	as long as short
BingX USELESS-USDT	+0.1130%	4h	0.2825	+0.043%	—	$5.0M	—	as long as short
Aster USELESSUSDT	+0.1133%	4h	0.2825	+0.039%	$649K	$2.3M	10x	as long as short
Variational Omni USELESS	+0.1280%	4h	0.2823	−0.018%	$1.2M	$1.8M	—	as long as short
Orderly PERP_USELESS_USDC	+0.1335%	4h	0.2828	+0.170%	$22K	$1.4M	10x	as long as short
BloFin USELESS-USDT	+0.1446%	4h	0.2827	+0.135%	$1.2M	$2.0M	12x	as long as short
Hyperliquid USELESS	+0.1462%	1h	0.2829	+0.202%	$14.0M	$21.0M	3x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2995	+6.070%	$5K	$9K	5.5x	as long as short