Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0110%/8h= +12.0% APRpaid last 24h +0.026%

Price spread now: Aevo against OKX−0.480%7-day average — · you buy dearer than you sell

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

Long on OKX Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—needs both histories

Funding pays, the price is against you. Aevo is 0.480% cheaper against OKX than usual: you would sell low and buy high (spread −0.480% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$48 on $10k: about 15 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX USELESS-USDT-SWAP	0.2961	0.0122	pay 0.0061% / 4h	1h 56m	$11.0M	$74.5M	10x
Short	Aevo USELESS-PERP	0.2947	0.0232	get 0.0029% / 1h	56m 51s	$11K	—	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against OKX. 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 OKXbpFee AevobpOrdersPrice spread, now −0.480%Rate

Funding earned: $23.06
Price spread: −0.480% → 0.000%: −$47.98
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$50.92
Costs to cover: 0.260%
Break-even: 22.5 days

Slippage unknown: OKX: live order book, 5 min ago; Aevo: no order-book sample. 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 OKX live order book, 5 min ago	1.02 bp	16.6 bp −$17	77.9 bp −$779	doesn't fit	doesn't fit
Sell Aevo no order-book sample	—	—	—	—	—

Aevo: 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
Injective USELESS/USDC PERP	+0.0033%	1h	0.3187	+7.632%	$5K	$10K	5.5x	as long as short
Lighter USELESS	+0.0096%	1h	0.2959	−0.084%	$1.4M	$1.1M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2943	−0.635%	$31K	$18K	3x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2950	−0.395%	$29K	$284K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2953	−0.290%	—	$1.3M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2952	−0.314%	$39K	$546K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2948	−0.452%	$691K	$1.3M	20x	as long as short
KuCoin USELESSUSDTM	+0.0110%	4h	0.2958	−0.115%	$5.5M	$10.6M	12x	as long as short
OKX USELESS-USDT-SWAPlong	+0.0122%	4h	0.2961	long leg	$11.0M	$74.5M	10x
Aevo USELESS-PERPshort	+0.0232%	1h	0.2947	−0.480%	$11K	—	3x

Show all 24 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget USELESSUSDT	+0.0244%	4h	0.2963	+0.057%	$5.8M	$10.8M	20x	as long as short
Gate USELESS_USDT	+0.0290%	4h	0.2954	−0.233%	$7.4M	$8.3M	50x	as long as short
ApeX Omni USELESSUSDT	+0.0377%	1h	0.2937	−0.824%	$56K	$688K	25x	as long as short
Aster USELESSUSDT	+0.0461%	4h	0.2961	−0.007%	$641K	$2.4M	10x	as long as short
edgeX USELESSUSDC	+0.0555%	4h	0.2929	−1.100%	$22K	$202K	10x	as long as short
Extended USELESS-USD	+0.0592%	1h	0.2960	−0.038%	$280K	$1.7M	5x	as long as short
MEXC USELESS_USDT	+0.0592%	4h	0.2962	+0.020%	$15.6M	$7.0M	50x	as long as short
Binance USELESSUSDT	+0.0593%	4h	0.2963	+0.064%	$25.5M	$131.8M	50x	as long as short
Hyperliquid USELESS	+0.0960%	1h	0.2964	+0.088%	$13.7M	$23.3M	3x	as long as short
BingX USELESS-USDT	+0.1048%	4h	0.2962	+0.020%	—	$5.7M	—	as long as short
Orderly PERP_USELESS_USDC	+0.1106%	4h	0.2959	−0.074%	$24K	$1.9M	10x	as long as short
Variational Omni USELESS	+0.1137%	4h	0.2922	−1.318%	$1.2M	$1.9M	—	as long as short
Bybit USELESSUSDT	+0.1139%	4h	0.2961	−0.024%	$29.1M	$52.3M	13x	as long as short
BloFin USELESS-USDT	+0.1434%	4h	0.2955	−0.213%	$1.3M	$2.3M	12x	as long as short