Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0014%/8h= +1.5% APRpaid last 24h +0.011%

Price spread now: KuCoin against Polymarket Perps+0.280%7-day average −0.085% · you sell dearer than you buy

Net, funding: paid 7d − costs−$168as in the Funding arb table

Net, price: spread back to 7d avg − costs−$160as in the Price arb table

costs, in and out, $10k−$1971.967% of the position

Long on Polymarket Perps Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.287%+$29 on $10k

Price spread, last 7 days−0.215%−$21 · spread now +0.280%, 7d avg −0.085%

Together, before fees+0.072%+$7 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and KuCoin is 0.365% dearer against Polymarket Perps than usual: you sell high and buy low: +$37 more if the spread goes back to its 7-day average of −0.085%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps USELESS-USD	0.2816	0.0100	pay 0.0013% / 1h	10m 50s	$28K	$265K	3x
Short	KuCoin USELESSUSDTM	0.2824	0.0114	get 0.0057% / 4h	1h 10m	$5.2M	$10.6M	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.280%Rate

Funding earned: $2.94
Price spread: +0.280% → −0.085%: $36.54
Slippage, 4 orders: −$176.7
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$157.22
Costs to cover: 1.967%
Break-even: 381.3 days

Slippage from Polymarket Perps: live order book, 31 min ago; KuCoin: live order book, 3 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, 31 min ago	1.44 bp	51.0 bp −$51	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 3 min ago	8.69 bp	37.2 bp −$37	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	0.2830	+0.479%	$1.3M	$1.3M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2816	−0.012%	$30K	$19K	3x	as long as short
Bitget USELESSUSDT	+0.0100%	4h	0.2837	+0.714%	$5.5M	$10.5M	20x	as long as short
Polymarket Perps USELESS-USDlong	+0.0100%	1h	0.2816	long leg	$28K	$265K	3x
SunX USELESS-USDT	+0.0100%	4h	0.2817	+0.021%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2825	+0.309%	$19K	$515K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2816	0.000%	$645K	$1.2M	20x	as long as short
Aster USELESSUSDT	+0.0105%	4h	0.2828	+0.405%	$554K	$2.2M	10x	as long as short
KuCoin USELESSUSDTMshort	+0.0114%	4h	0.2824	+0.280%	$5.2M	$10.6M	12x
OKX USELESS-USDT-SWAP	+0.0131%	4h	0.2839	+0.820%	$9.7M	$70.8M	10x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid USELESS	+0.0143%	1h	0.2839	+0.795%	$12.3M	$23.3M	3x	as long as short
Aevo USELESS-PERP	+0.0152%	1h	0.2816	−0.020%	$10K	—	3x	as long as short
Extended USELESS-USD	+0.0272%	1h	0.2826	+0.327%	$141K	$796K	5x	as long as short
Binance USELESSUSDT	+0.0273%	4h	0.2831	+0.501%	$23.5M	$124.4M	50x	as long as short
edgeX USELESSUSDC	+0.0275%	4h	0.2825	+0.307%	$21K	$196K	10x	as long as short
MEXC USELESS_USDT	+0.0278%	4h	0.2827	+0.366%	$11.8M	$6.2M	50x	as long as short
ApeX Omni USELESSUSDT	+0.0388%	1h	0.2820	+0.128%	$52K	$702K	25x	as long as short
Bybit USELESSUSDT	+0.0516%	4h	0.2835	+0.653%	$26.8M	$49.2M	13x	as long as short
BingX USELESS-USDT	+0.0538%	4h	0.2834	+0.611%	—	$5.3M	—	as long as short
Variational Omni USELESS	+0.0559%	4h	0.2814	−0.070%	$1.1M	$1.9M	—	as long as short
Gate USELESS_USDT	+0.0706%	4h	0.2822	+0.213%	$7.0M	$8.7M	50x	as long as short
BloFin USELESS-USDT	+0.0756%	4h	0.2816	0.000%	$1.2M	$2.1M	12x	as long as short
Orderly PERP_USELESS_USDC	+0.0959%	4h	0.2816	−0.021%	$22K	$1.5M	10x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2991	+6.189%	$5K	$11K	5.5x	as long as short