Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.011%

Price spread now: SunX against Polymarket Perps−0.263%7-day average +0.036% · you buy dearer than you sell

Net, funding: paid 7d − costs−$254as in the Funding arb table

Net, price: spread back to 7d avg − costs−$288as in the Price arb table

costs, in and out, $10k−$2582.581% of the position

Long on Polymarket Perps Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.041%+$4 on $10k

Price spread, last 4 days (all we have)−0.038%−$4 · spread now −0.263%, 7d avg +0.036%

Together, before fees+0.003%$0 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: SunX is 0.299% cheaper against Polymarket Perps than usual: you would sell low and buy high, −$30 on $10k if it goes back to its 7-day average of +0.036%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps USELESS-USD	0.2695	0.0100	pay 0.0013% / 1h	29m 09s	$26K	$248K	3x
Short	SunX USELESS-USDT	0.2688	0.0100	get 0.0050% / 4h	2h 29m	—	$1.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.263%Rate

Funding earned: $0
Price spread: −0.263% → +0.036%: −$29.93
Slippage, 4 orders: −$242.09
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee SunX: 4 bp × 2 orders: −$8
Net: −$288.02
Costs to cover: 2.581%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 18 min ago; SunX: live order book, 5 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, 18 min ago	0.37 bp	55.6 bp −$56	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 5 min ago	44.90 bp	64.0 bp −$64	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	0.2683	−0.438%	$1.2M	$1.2M	3x	as long as short
Hyperliquid USELESS	+0.0100%	1h	0.2693	−0.074%	$11.6M	$22.9M	3x	as long as short
Aster USELESSUSDT	+0.0100%	4h	0.2686	−0.338%	$526K	$2.2M	10x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2694	−0.033%	$29K	$18K	3x	as long as short
Polymarket Perps USELESS-USDlong	+0.0100%	1h	0.2695	long leg	$26K	$248K	3x
SunX USELESS-USDTshort	+0.0100%	4h	0.2688	−0.263%	—	$1.4M	10x
HTX USELESS-USDT	+0.0100%	4h	0.2692	−0.100%	$18K	$519K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2688	−0.252%	$636K	$1.1M	20x	as long as short
Bitget USELESSUSDT	+0.0104%	4h	0.2683	−0.449%	$5.1M	$10.4M	20x	as long as short
KuCoin USELESSUSDTM	+0.0110%	4h	0.2686	−0.312%	$4.9M	$10.6M	12x	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	+0.0136%	1h	0.2696	+0.034%	$10K	—	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0157%	4h	0.2684	−0.397%	$9.2M	$65.4M	10x	as long as short
ApeX Omni USELESSUSDT	+0.0204%	1h	0.2681	−0.516%	$47K	$698K	25x	as long as short
Binance USELESSUSDT	+0.0215%	4h	0.2686	−0.349%	$22.4M	$122.0M	50x	as long as short
Extended USELESS-USD	+0.0216%	1h	0.2687	−0.278%	$114K	$1.1M	5x	as long as short
MEXC USELESS_USDT	+0.0216%	4h	0.2686	−0.334%	$10.9M	$6.0M	50x	as long as short
edgeX USELESSUSDC	+0.0219%	4h	0.2683	−0.439%	$20K	$196K	10x	as long as short
Bybit USELESSUSDT	+0.0376%	4h	0.2684	−0.412%	$25.3M	$48.5M	13x	as long as short
BingX USELESS-USDT	+0.0378%	4h	0.2684	−0.408%	—	$5.3M	—	as long as short
Variational Omni USELESS	+0.0473%	4h	0.2682	−0.476%	$1.0M	$1.8M	—	as long as short
BloFin USELESS-USDT	+0.0616%	4h	0.2687	−0.301%	$1.1M	$2.0M	12x	as long as short
Gate USELESS_USDT	+0.0796%	4h	0.2688	−0.245%	$6.7M	$8.6M	50x	as long as short
Orderly PERP_USELESS_USDC	+0.1175%	4h	0.2691	−0.156%	$21K	$1.2M	10x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2826	+4.872%	$5K	$11K	5.5x	as long as short