Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC0.0000%/8hnext payment +$0.00 per $10,000 · paid last 24h −0.006%

Price spread now: Gate against OKX−0.289%7-day average −0.034% · you buy dearer than you sell

Net, funding: paid 7d − costs−$96as in the Funding arb table

Net, price: spread back to 7d avg − costs−$123as in the Price arb table

costs, in and out, $10k−$980.978% of the position

Long on OKX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.023%+$2 on $10k

Price spread, last 7 days+0.325%+$33 · spread now −0.289%, 7d avg −0.034%

Together, before fees+0.348%+$35 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: Gate is 0.255% cheaper against OKX than usual: you would sell low and buy high, −$26 on $10k if it goes back to its 7-day average of −0.034%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX USELESS-USDT-SWAP	0.2834	0.0100	pay 0.0050% / 4h	6m 56s	$9.8M	$61.7M	10x
Short	Gate USELESS_USDT	0.2826	0.0100	get 0.0050% / 4h	6m 56s	$6.9M	$7.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.289%Rate

Funding earned: $0
Price spread: −0.289% → −0.034%: −$25.52
Slippage, 4 orders: −$72.84
Fee OKX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$123.36
Costs to cover: 0.978%
Break-even: never at this rate

Slippage from OKX: live order book, 1 min ago; Gate: live order book, 1 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 OKX live order book, 1 min ago	0.35 bp	20.2 bp −$20	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	1.42 bp	18.0 bp −$18	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	0.2823	−0.392%	$1.3M	$1.0M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2819	−0.536%	$31K	$74K	3x	as long as short
OKX USELESS-USDT-SWAPlong	+0.0100%	4h	0.2834	long leg	$9.8M	$61.7M	10x
Gate USELESS_USDTshort	+0.0100%	4h	0.2826	−0.289%	$6.9M	$7.4M	50x
KuCoin USELESSUSDTM	+0.0100%	4h	0.2825	−0.311%	$5.1M	$8.9M	12x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2817	−0.621%	$27K	$117K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2821	−0.466%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2820	−0.508%	$19K	$363K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2824	−0.370%	$546K	$1.4M	20x	as long as short
ApeX Omni USELESSUSDT	+0.0101%	1h	0.2821	−0.462%	$33K	$692K	25x	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	0.2813	−0.735%	$10K	—	3x	as long as short
Bitget USELESSUSDT	+0.0418%	4h	0.2836	+0.078%	$5.4M	$8.2M	20x	as long as short
Variational Omni USELESS	+0.0460%	4h	0.2826	−0.295%	$1.2M	$1.6M	—	as long as short
BingX USELESS-USDT	+0.0466%	4h	0.2836	+0.071%	—	$4.7M	—	as long as short
Bybit USELESSUSDT	+0.0471%	4h	0.2834	0.000%	$28.4M	$40.8M	13x	as long as short
Binance USELESSUSDT	+0.0485%	4h	0.2835	+0.048%	$24.6M	$104.0M	50x	as long as short
Extended USELESS-USD	+0.0488%	1h	0.2833	−0.038%	$298K	$970K	5x	as long as short
MEXC USELESS_USDT	+0.0490%	4h	0.2835	+0.018%	$20.1M	$5.5M	50x	as long as short
edgeX USELESSUSDC	+0.0490%	4h	0.2823	−0.391%	$21K	$188K	10x	as long as short
BloFin USELESS-USDT	+0.0690%	4h	0.2835	+0.039%	$1.2M	$1.9M	12x	as long as short
Orderly PERP_USELESS_USDC	+0.0969%	4h	0.2821	−0.466%	$22K	$1.4M	10x	as long as short
Aster USELESSUSDT	+0.1006%	4h	0.2831	−0.103%	$651K	$2.1M	10x	as long as short
Hyperliquid USELESS	+0.1248%	1h	0.2840	+0.219%	$14.1M	$18.9M	3x	as long as short
Injective USELESS/USDC PERP	+0.4654%	1h	0.2981	+5.194%	$5K	$14K	5.5x	as long as short