Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.008%

Price spread now: Polymarket Perps against SunX−0.626%50s7-day average −0.031% · you buy dearer than you sell

Net, funding: paid 7d − costs−$237as 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−$2342.335% of the position

Long on SunX Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.036%−$4 on $10k

Price spread, last 3 days (all we have)+1.087%+$109 · spread now −0.626%, 7d avg −0.031%

Together, before fees+1.050%+$105 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: Polymarket Perps is 0.595% cheaper against SunX than usual: you would sell low and buy high, −$59 on $10k if it goes back to its 7-day average of −0.031%. The two prices were read 50 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	0.2747	0.0100	pay 0.0050% / 4h	1h 26m	—	$1.4M	10x
Short	Polymarket Perps USELESS-USD	0.2729	0.0100	get 0.0013% / 1h	26m 20s	$26K	$145K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.626%Rate

Funding earned: $0
Price spread: −0.626% → −0.031%: −$59.47
Slippage, 4 orders: −$217.53
Fee SunX: 4 bp × 2 orders: −$8
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$293
Costs to cover: 2.335%
Break-even: never at this rate

Slippage from SunX: live order book, 8 min ago; Polymarket Perps: live order book, 55 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, 8 min ago	79.98 bp	98.1 bp −$98	doesn't fit	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 55 min ago	2.89 bp	28.3 bp −$28	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	0.2738	−0.309%	$1.3M	$1.1M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2740	−0.246%	$30K	$70K	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0100%	4h	0.2729	−0.655%	$9.6M	$62.8M	10x	as long as short
Polymarket Perps USELESS-USDshort	+0.0100%	1h	0.2729	−0.626%	$26K	$145K	3x
SunX USELESS-USDTlong	+0.0100%	4h	0.2747	long leg	—	$1.4M	10x
HTX USELESS-USDT	+0.0100%	4h	0.2755	+0.295%	$35K	$441K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2738	−0.324%	$564K	$1.2M	20x	as long as short
Aevo USELESS-PERP	+0.0208%	1h	0.2745	−0.072%	$10K	—	3x	as long as short
ApeX Omni USELESSUSDT	+0.0229%	1h	0.2757	+0.379%	$39K	$699K	25x	as long as short
KuCoin USELESSUSDTM	+0.0330%	4h	0.2726	−0.761%	$5.1M	$9.8M	12x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate USELESS_USDT	+0.0374%	4h	0.2724	−0.826%	$6.8M	$8.0M	50x	as long as short
edgeX USELESSUSDC	+0.0505%	4h	0.2762	+0.566%	$21K	$190K	10x	as long as short
MEXC USELESS_USDT	+0.0508%	4h	0.2729	−0.648%	$9.8M	$5.9M	50x	as long as short
Binance USELESSUSDT	+0.0509%	4h	0.2729	−0.631%	$23.0M	$113.3M	50x	as long as short
Extended USELESS-USD	+0.0512%	1h	0.2727	−0.719%	$287K	$965K	5x	as long as short
Bitget USELESSUSDT	+0.0534%	4h	0.2728	−0.692%	$5.3M	$9.1M	20x	as long as short
Hyperliquid USELESS	+0.0968%	1h	0.2732	−0.539%	$13.3M	$20.5M	3x	as long as short
Aster USELESSUSDT	+0.1148%	4h	0.2727	−0.716%	$631K	$2.2M	10x	as long as short
Orderly PERP_USELESS_USDC	+0.1253%	4h	0.2731	−0.572%	$21K	$1.4M	10x	as long as short
BingX USELESS-USDT	+0.1354%	4h	0.2730	−0.593%	—	$5.0M	—	as long as short
Bybit USELESSUSDT	+0.1385%	4h	0.2731	−0.575%	$27.3M	$44.5M	13x	as long as short
Variational Omni USELESS	+0.1515%	4h	0.2775	+1.038%	$1.1M	$1.8M	—	as long as short
BloFin USELESS-USDT	+0.1818%	4h	0.2742	−0.178%	$1.2M	$1.9M	12x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2934	+6.823%	$5K	$9K	5.5x	as long as short