Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.1055%/8h= +115.5% APRpaid last 24h +0.222%

Price spread now: Hyperliquid against SunX+0.805%52s7-day average +0.043% · you sell dearer than you buy

Net, funding: paid 7d − costs−$134as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$2272.272% of the position

Long on SunX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.936%+$94 on $10k

Price spread, last 4 days (all we have)+0.456%+$46 · spread now +0.805%, 7d avg +0.043%

Together, before fees+1.392%+ Points / potential airdropHyperliquid: Season 2 · farm board+$139 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$32 a day on $10k at the current rate, and Hyperliquid is 0.762% dearer against SunX than usual: you sell high and buy low: +$76 more if the spread goes back to its 7-day average of +0.043%. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX USELESS-USDT	0.3008	0.0100	pay 0.0050% / 4h	3h 22m	—	$1.4M	10x
Short	Hyperliquid USELESS	0.3032	0.1155	get 0.0144% / 1h	22m 30s	$13.7M	$24.2M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.805%Rate

Funding earned: $221.54
Price spread: +0.805% → +0.043%: $76.21
Slippage, 4 orders: −$210.21
Fee SunX: 4 bp × 2 orders: −$8
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $70.53
Costs to cover: 2.272%
Break-even: 4.8 days

Slippage from SunX: live order book, 12 min ago; Hyperliquid: live order book, 11 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, 12 min ago	80.08 bp	98.6 bp −$99	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 11 min ago	1.17 bp	7.8 bp −$8	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	0.3030	+0.761%	$1.4M	$1.2M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.3022	+0.465%	$32K	$19K	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0100%	4h	0.3025	+0.589%	$11.1M	$79.8M	10x	as long as short
Gate USELESS_USDT	+0.0100%	4h	0.3027	+0.658%	$7.6M	$9.1M	50x	as long as short
Bitget USELESSUSDT	+0.0100%	4h	0.3028	+0.668%	$5.8M	$11.4M	20x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.3019	+0.382%	$29K	$284K	3x	as long as short
SunX USELESS-USDTlong	+0.0100%	4h	0.3008	long leg	—	$1.4M	10x
HTX USELESS-USDT	+0.0100%	4h	0.3013	+0.176%	$20K	$515K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.3008	−0.003%	$684K	$1.3M	20x	as long as short
KuCoin USELESSUSDTM	+0.0128%	4h	0.3030	+0.731%	$5.6M	$11.0M	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	+0.0216%	1h	0.3000	−0.237%	$11K	—	3x	as long as short
Aster USELESSUSDT	+0.0337%	4h	0.3027	+0.654%	$632K	$2.4M	10x	as long as short
edgeX USELESSUSDC	+0.0524%	4h	0.2987	−0.673%	$22K	$199K	10x	as long as short
Extended USELESS-USD	+0.0536%	1h	0.3032	+0.797%	$287K	$1.7M	5x	as long as short
MEXC USELESS_USDT	+0.0538%	4h	0.3033	+0.835%	$14.7M	$6.8M	50x	as long as short
Binance USELESSUSDT	+0.0542%	4h	0.3028	+0.668%	$26.0M	$134.4M	50x	as long as short
Variational Omni USELESS	+0.0937%	4h	0.2978	−0.998%	$1.2M	$1.9M	—	as long as short
Orderly PERP_USELESS_USDC	+0.0959%	4h	0.3004	−0.116%	$22K	$1.9M	10x	as long as short
ApeX Omni USELESSUSDT	+0.1037%	1h	0.2979	−0.951%	$55K	$699K	25x	as long as short
Hyperliquid USELESSshort	+0.1155%	1h	0.3032	+0.805%	$13.7M	$24.2M	3x
Bybit USELESSUSDT	+0.1244%	4h	0.3026	+0.612%	$30.1M	$53.8M	13x	as long as short
BingX USELESS-USDT	+0.1361%	4h	0.3030	+0.748%	—	$5.6M	—	as long as short
BloFin USELESS-USDT	+0.1826%	4h	0.3010	+0.086%	$1.3M	$2.4M	12x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.3176	+5.589%	$5K	$11K	5.5x	as long as short