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 +0.010%

Price spread now: OKX against SunX−0.482%7-day average −0.074% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$212as in the Price arb table

costs, in and out, $10k−$1711.712% of the position

Long on SunX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.030%+$3 on $10k

Price spread, last 3 days (all we have)+0.575%+$58 · spread now −0.482%, 7d avg −0.074%

Together, before fees+0.605%+$60 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: OKX is 0.408% cheaper against SunX than usual: you would sell low and buy high, −$41 on $10k if it goes back to its 7-day average of −0.074%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX USELESS-USDT	0.2841	0.0100	pay 0.0050% / 4h	2h 44m	—	$1.4M	10x
Short	OKX USELESS-USDT-SWAP	0.2827	0.0100	get 0.0050% / 4h	2h 44m	$10.0M	$66.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.482%Rate

Funding earned: $0
Price spread: −0.482% → −0.074%: −$40.84
Slippage, 4 orders: −$153.23
Fee SunX: 4 bp × 2 orders: −$8
Fee OKX: 5 bp × 2 orders: −$10
Net: −$212.07
Costs to cover: 1.712%
Break-even: never at this rate

Slippage from SunX: live order book, 10 min ago; OKX: 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	44.93 bp	63.2 bp −$63	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 4 min ago	2.28 bp	22.0 bp −$22	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	0.2835	−0.190%	$1.3M	$1.1M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2832	−0.317%	$32K	$69K	3x	as long as short
OKX USELESS-USDT-SWAPshort	+0.0100%	4h	0.2827	−0.482%	$10.0M	$66.9M	10x
KuCoin USELESSUSDTM	+0.0100%	4h	0.2827	−0.465%	$5.2M	$10.2M	12x	as long as short
SunX USELESS-USDTlong	+0.0100%	4h	0.2841	long leg	—	$1.4M	10x
HTX USELESS-USDT	+0.0100%	4h	0.2838	−0.109%	$19K	$516K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2826	−0.525%	$597K	$1.2M	20x	as long as short
Aevo USELESS-PERP	+0.0216%	1h	0.2832	−0.311%	$10K	—	3x	as long as short
Gate USELESS_USDT	+0.0220%	4h	0.2831	−0.356%	$7.1M	$8.3M	50x	as long as short
edgeX USELESSUSDC	+0.0514%	4h	0.2839	−0.055%	$21K	$195K	10x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC USELESS_USDT	+0.0524%	4h	0.2832	−0.292%	$11.0M	$6.0M	50x	as long as short
Binance USELESSUSDT	+0.0526%	4h	0.2829	−0.405%	$24.0M	$117.6M	50x	as long as short
Extended USELESS-USD	+0.0528%	1h	0.2834	−0.236%	$298K	$1.2M	5x	as long as short
Bybit USELESSUSDT	+0.0569%	4h	0.2828	−0.454%	$27.5M	$46.6M	13x	as long as short
Bitget USELESSUSDT	+0.0574%	4h	0.2832	−0.299%	$5.4M	$9.9M	20x	as long as short
BingX USELESS-USDT	+0.0594%	4h	0.2835	−0.190%	—	$5.1M	—	as long as short
Polymarket Perps USELESS-USD	+0.0684%	1h	0.2841	+0.007%	$41K	$187K	3x	as long as short
Variational Omni USELESS	+0.0875%	4h	0.2840	−0.014%	$1.2M	$1.7M	—	as long as short
BloFin USELESS-USDT	+0.0886%	4h	0.2835	−0.194%	$1.2M	$2.1M	12x	as long as short
Aster USELESSUSDT	+0.1055%	4h	0.2832	−0.313%	$650K	$2.2M	10x	as long as short
Orderly PERP_USELESS_USDC	+0.1256%	4h	0.2836	−0.172%	$22K	$1.4M	10x	as long as short
Hyperliquid USELESS	+0.1289%	1h	0.2836	−0.148%	$14.2M	$21.1M	3x	as long as short
ApeX Omni USELESSUSDT	+0.1445%	1h	0.2842	+0.049%	$39K	$699K	25x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.3027	+6.551%	$5K	$9K	5.5x	as long as short