USELESS

Alert

Funding spread now, next payment 14:00 UTC+0.0674%/8h

paid, last 24h+0.139%paid, last 3 days+0.161%to open and closeno order book

Long on Polymarket Perps Short on Variational Omni

The current rate is far above what this pair has been paying: over the last 3 days it paid 0.161% in total (about 20.4% 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	0.2805	0.0100	pay 0.0013% / 1h	37m 44s	$54K	$201K	3x
Short	Variational Omni USELESS	0.2783	0.0774	get 0.0387% / 4h	2h 37m	$1.2M	$1.3M	—

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee Polymarket PerpsbpFee Variational OmnibpOrdersRate

Funding earned: $141.61
Slippage, 4 orders: no order book: not counted
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $133.61
Break-even: 0.4 days

Slippage unknown: Polymarket Perps: live order book, 62 min ago; Variational Omni: RFQ quote, 3 min ago. Net counts fees only.

Price risk

price view

Price gap now: −0.778%
Avg gap 7d: +0.081%

A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

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, 62 min ago	0.18 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 3 min ago	5.40 bp	doesn't fit	34.2 bp −$342	doesn't fit	doesn't fit

USELESS on 24 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Injective USELESS/USDC PERP	−0.5000%	1h	$3K	$25K	5.5x	as long as short
Lighter USELESS	+0.0096%	1h	$1.3M	$822K	3x	as long as short
Pacifica USELESS	+0.0100%	1h	$26K	$101K	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0100%	4h	$9.6M	$49.7M	10x	as long as short
Gate USELESS_USDT	+0.0100%	4h	$6.4M	$5.0M	50x	as long as short
KuCoin USELESSUSDTM	+0.0100%	4h	$5.1M	$5.7M	12x	as long as short
ApeX Omni USELESSUSDT	+0.0100%	1h	$42K	$671K	25x	as long as short
Polymarket Perps USELESS-USDlong	+0.0100%	1h	$54K	$201K	3x
SunX USELESS-USDT	+0.0100%	4h	—	$1.2M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	$21K	$275K	20x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Phemex USELESSUSDT	+0.0100%	4h	$495K	$1.3M	20x	as long as short
Hyperliquid USELESS	+0.0214%	1h	$12.4M	$12.5M	3x	as long as short
Aevo USELESS-PERP	+0.0216%	1h	$10K	—	3x	as long as short
Bitget USELESSUSDT	+0.0226%	4h	$5.3M	$5.7M	20x	as long as short
edgeX USELESSUSDC	+0.0536%	4h	$21K	$182K	10x	as long as short
Extended USELESS-USD	+0.0544%	1h	$262K	$911K	5x	as long as short
MEXC USELESS_USDT	+0.0544%	4h	$16.7M	$4.1M	50x	as long as short
Binance USELESSUSDT	+0.0564%	4h	$24.0M	$78.5M	50x	as long as short
BingX USELESS-USDT	+0.0755%	4h	—	$3.7M	—	as long as short
Variational Omni USELESSshort	+0.0774%	4h	$1.2M	$1.3M	—
Bybit USELESSUSDT	+0.0831%	4h	$27.5M	$30.9M	13x	as long as short
Aster USELESSUSDT	+0.0899%	4h	$580K	$1.1M	10x	as long as short
BloFin USELESS-USDT	+0.0994%	4h	$1.2M	$1.5M	12x	as long as short
Orderly PERP_USELESS_USDC	+0.1112%	4h	$18K	$1.4M	10x	as long as short