Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0702%/8h= +76.8% APRpaid last 24h +0.163%

Price spread now: BloFin against ApeX Omni+0.634%7-day average −0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs+$4as in the Funding arb table

Net, price: spread back to 7d avg − costs−$5as in the Price arb table

costs, in and out, $10k−$690.686% of the position

Long on ApeX Omni Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.722%+$72 on $10k

Price spread, last 4 days (all we have)−0.995%−$100 · spread now +0.634%, 7d avg −0.003%

Together, before fees−0.273%−$27 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$21 a day on $10k at the current rate, and BloFin is 0.637% dearer against ApeX Omni than usual: you sell high and buy low: +$64 more if the spread goes back to its 7-day average of −0.003%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni USELESSUSDT	0.2950	0.0762	pay 0.0095% / 1h	52m 16s	$56K	$687K	25x
Short	BloFin USELESS-USDT	0.2969	0.1464	get 0.0732% / 4h	1h 52m	$1.3M	$2.3M	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against ApeX Omni. 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 ApeX OmnibpFee BloFinbpOrdersPrice spread, now +0.634%Rate

Funding earned: $147.36
Price spread: +0.634% → −0.003%: $63.7
Slippage, 4 orders: −$46.55
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: $142.5
Costs to cover: 0.686%
Break-even: 0.2 days

Slippage from ApeX Omni: live order book, 59 min ago; BloFin: 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 ApeX Omni live order book, 59 min ago	5.12 bp	18.8 bp −$19	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 4 min ago	5.07 bp	17.6 bp −$18	34.3 bp −$343	doesn't fit	doesn't fit

USELESS on 24 exchanges

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
Injective USELESS/USDC PERP	+0.0033%	1h	0.3187	+8.047%	$5K	$10K	5.5x	as long as short
Lighter USELESS	+0.0096%	1h	0.2959	+0.305%	$1.4M	$1.1M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2960	+0.335%	$31K	$18K	3x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2955	+0.180%	$29K	$284K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2962	+0.400%	—	$1.3M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2953	+0.115%	$38K	$545K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2955	+0.159%	$694K	$1.3M	20x	as long as short
KuCoin USELESSUSDTM	+0.0128%	4h	0.2960	+0.356%	$5.5M	$10.6M	12x	as long as short
OKX USELESS-USDT-SWAP	+0.0138%	4h	0.2963	+0.441%	$11.0M	$74.4M	10x	as long as short
Aevo USELESS-PERP	+0.0232%	1h	0.2958	+0.267%	$11K	—	3x	as long as short

Show all 24 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget USELESSUSDT	+0.0256%	4h	0.2959	+0.295%	$5.8M	$10.7M	20x	as long as short
Gate USELESS_USDT	+0.0452%	4h	0.2955	+0.169%	$7.4M	$8.4M	50x	as long as short
Aster USELESSUSDT	+0.0490%	4h	0.2961	+0.387%	$642K	$2.4M	10x	as long as short
edgeX USELESSUSDC	+0.0579%	4h	0.2957	+0.250%	$22K	$200K	10x	as long as short
MEXC USELESS_USDT	+0.0604%	4h	0.2960	+0.339%	$15.7M	$7.0M	50x	as long as short
Extended USELESS-USD	+0.0608%	1h	0.2958	+0.271%	$281K	$1.7M	5x	as long as short
Binance USELESSUSDT	+0.0611%	4h	0.2960	+0.355%	$25.5M	$131.5M	50x	as long as short
ApeX Omni USELESSUSDTlong	+0.0762%	1h	0.2950	long leg	$56K	$687K	25x
Hyperliquid USELESS	+0.0996%	1h	0.2959	+0.322%	$13.7M	$22.9M	3x	as long as short
BingX USELESS-USDT	+0.1048%	4h	0.2960	+0.353%	—	$5.7M	—	as long as short
Orderly PERP_USELESS_USDC	+0.1127%	4h	0.2961	+0.366%	$24K	$1.9M	10x	as long as short
Bybit USELESSUSDT	+0.1155%	4h	0.2962	+0.393%	$29.1M	$52.3M	13x	as long as short
Variational Omni USELESS	+0.1163%	4h	0.2963	+0.454%	$1.2M	$1.9M	—	as long as short
BloFin USELESS-USDTshort	+0.1464%	4h	0.2969	+0.634%	$1.3M	$2.3M	12x