Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0788%/8h= +86.3% APRpaid last 24h +0.142%

Price spread now: BingX against Polymarket Perps+0.074%7-day average −0.044% · you sell dearer than you buy

Net, funding: paid 7d − costs−$27as in the Funding arb table

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$600.604% of the position

Long on Polymarket Perps Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.332%+$33 on $10k

Price spread, last 7 days−0.041%−$4 · spread now +0.074%, 7d avg −0.044%

Together, before fees+0.291%+$29 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$24 a day on $10k at the current rate, and BingX is 0.118% dearer against Polymarket Perps than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of −0.044%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.332% in total (about 17.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps USELESS-USD	0.2714	0.0100	pay 0.0013% / 1h	11m 01s	$38K	$217K	3x
Short	BingX USELESS-USDT	0.2716	0.0888	get 0.0444% / 4h	1h 11m	—	$5.2M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Polymarket Perps. 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 Polymarket PerpsbpFee BingXbpOrdersPrice spread, now +0.074%Rate

Funding earned: $165.48
Price spread: +0.074% → −0.044%: $11.82
Slippage, 4 orders: −$42.45
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee BingX: 5 bp × 2 orders: −$10
Net: $116.85
Costs to cover: 0.604%
Break-even: 2.1 days

Slippage from Polymarket Perps: live order book, 51 min ago; BingX: live order book, 4 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 Polymarket Perps live order book, 51 min ago	1.60 bp	8.4 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 4 min ago	3.86 bp	14.7 bp −$15	62.6 bp −$626	300.1 bp −$30.0K	942.4 bp −$471.2K

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	0.2715	+0.037%	$1.2M	$1.2M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2703	−0.380%	$30K	$70K	3x	as long as short
Gate USELESS_USDT	+0.0100%	4h	0.2709	−0.173%	$6.8M	$8.6M	50x	as long as short
Polymarket Perps USELESS-USDlong	+0.0100%	1h	0.2714	long leg	$38K	$217K	3x
SunX USELESS-USDT	+0.0100%	4h	0.2717	+0.122%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2712	−0.048%	$18K	$513K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2710	−0.133%	$600K	$1.1M	20x	as long as short
ApeX Omni USELESSUSDT	+0.0219%	1h	0.2714	+0.007%	$37K	$696K	25x	as long as short
Aevo USELESS-PERP	+0.0232%	1h	0.2717	+0.103%	$10K	—	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0234%	4h	0.2715	+0.059%	$9.6M	$64.1M	10x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin USELESSUSDTM	+0.0294%	4h	0.2714	+0.018%	$5.0M	$10.4M	12x	as long as short
Bitget USELESSUSDT	+0.0554%	4h	0.2715	+0.026%	$5.3M	$10.0M	20x	as long as short
MEXC USELESS_USDT	+0.0604%	4h	0.2717	+0.099%	$10.8M	$6.1M	50x	as long as short
Binance USELESSUSDT	+0.0605%	4h	0.2716	+0.088%	$23.1M	$118.6M	50x	as long as short
Extended USELESS-USD	+0.0608%	1h	0.2714	+0.012%	$285K	$1.1M	5x	as long as short
edgeX USELESSUSDC	+0.0612%	4h	0.2714	+0.005%	$20K	$195K	10x	as long as short
Hyperliquid USELESS	+0.0652%	1h	0.2717	+0.125%	$13.2M	$21.2M	3x	as long as short
BingX USELESS-USDTshort	+0.0888%	4h	0.2716	+0.074%	—	$5.2M	—
Bybit USELESSUSDT	+0.0979%	4h	0.2714	0.000%	$26.2M	$46.6M	13x	as long as short
Variational Omni USELESS	+0.0982%	4h	0.2712	−0.075%	$1.2M	$1.7M	—	as long as short
Aster USELESSUSDT	+0.1014%	4h	0.2709	−0.164%	$570K	$2.4M	10x	as long as short
BloFin USELESS-USDT	+0.1228%	4h	0.2715	+0.055%	$1.2M	$1.9M	12x	as long as short
Orderly PERP_USELESS_USDC	+0.1395%	4h	0.2715	+0.033%	$21K	$1.3M	10x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2878	+6.058%	$5K	$9K	5.5x	as long as short