Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.011%

Price spread now: Gate against SunX−0.563%7-day average −0.140% · you buy dearer than you sell

Net, funding: paid 7d − costs−$198as in the Funding arb table

Net, price: spread back to 7d avg − costs−$247as in the Price arb table

costs, in and out, $10k−$2042.044% of the position

Long on SunX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.064%+$6 on $10k

Price spread, last 4 days (all we have)+1.419%+$142 · spread now −0.563%, 7d avg −0.140%

Together, before fees+1.483%+$148 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 0.423% cheaper against SunX than usual: you would sell low and buy high, −$42 on $10k if it goes back to its 7-day average of −0.140%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX USELESS-USDT	0.2754	0.0100	pay 0.0050% / 4h	1h 34m	—	$1.4M	10x
Short	Gate USELESS_USDT	0.2739	0.0100	get 0.0050% / 4h	1h 34m	$6.8M	$8.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against SunX. 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 SunXbpFee GatebpOrdersPrice spread, now −0.563%Rate

Funding earned: $0
Price spread: −0.563% → −0.140%: −$42.26
Slippage, 4 orders: −$181.43
Fee SunX: 4 bp × 2 orders: −$8
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$246.7
Costs to cover: 2.044%
Break-even: never at this rate

Slippage from SunX: live order book, 10 min ago; Gate: 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 SunX live order book, 10 min ago	45.80 bp	64.5 bp −$64	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	6.38 bp	33.4 bp −$33	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	0.2749	−0.196%	$1.2M	$1.2M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2745	−0.342%	$30K	$70K	3x	as long as short
Gate USELESS_USDTshort	+0.0100%	4h	0.2739	−0.563%	$6.8M	$8.5M	50x
ApeX Omni USELESSUSDT	+0.0100%	1h	0.2745	−0.338%	$38K	$694K	25x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2748	−0.229%	$33K	$211K	3x	as long as short
SunX USELESS-USDTlong	+0.0100%	4h	0.2754	long leg	—	$1.4M	10x
HTX USELESS-USDT	+0.0100%	4h	0.2741	−0.487%	$18K	$508K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2747	−0.276%	$606K	$1.1M	20x	as long as short
OKX USELESS-USDT-SWAP	+0.0135%	4h	0.2742	−0.447%	$9.7M	$64.5M	10x	as long as short
KuCoin USELESSUSDTM	+0.0198%	4h	0.2744	−0.381%	$5.0M	$10.4M	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	+0.0224%	1h	0.2752	−0.070%	$10K	—	3x	as long as short
Bitget USELESSUSDT	+0.0510%	4h	0.2742	−0.436%	$5.2M	$9.9M	20x	as long as short
Extended USELESS-USD	+0.0584%	1h	0.2744	−0.362%	$289K	$1.1M	5x	as long as short
MEXC USELESS_USDT	+0.0584%	4h	0.2746	−0.320%	$10.8M	$6.0M	50x	as long as short
Binance USELESSUSDT	+0.0584%	4h	0.2745	−0.345%	$23.3M	$118.1M	50x	as long as short
edgeX USELESSUSDC	+0.0591%	4h	0.2747	−0.263%	$20K	$195K	10x	as long as short
Hyperliquid USELESS	+0.0673%	1h	0.2746	−0.309%	$13.4M	$20.9M	3x	as long as short
BingX USELESS-USDT	+0.0832%	4h	0.2744	−0.378%	—	$5.1M	—	as long as short
Bybit USELESSUSDT	+0.0852%	4h	0.2743	−0.425%	$26.5M	$46.5M	13x	as long as short
Variational Omni USELESS	+0.0928%	4h	0.2748	−0.239%	$1.2M	$1.7M	—	as long as short
Aster USELESSUSDT	+0.1037%	4h	0.2745	−0.348%	$582K	$2.3M	10x	as long as short
BloFin USELESS-USDT	+0.1141%	4h	0.2750	−0.167%	$1.2M	$2.0M	12x	as long as short
Orderly PERP_USELESS_USDC	+0.1347%	4h	0.2749	−0.182%	$21K	$1.3M	10x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2904	+5.450%	$5K	$9K	5.5x	as long as short