USELESS

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.1265%/8h= −138.5% APRnext payment −$1.58 per $10,000 · paid last 24h −0.037%

Price spread now: Polymarket Perps against ApeX Omni+0.073%63s7-day average −0.001% · you sell dearer than you buy

Net, funding: paid 7d − costs−$85as 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−$700.696% of the position

Long on ApeX Omni Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.155%−$15 on $10k

Price spread, last 4 days (all we have)−0.152%−$15 · spread now +0.073%, 7d avg −0.001%

Together, before fees−0.307%−$31 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Polymarket Perps is 0.074% dearer against ApeX Omni than usual: you sell high and buy low (spread +0.073% now, against its 7-day average of −0.001%): +$7 on $10k if it goes back. Holding the pair costs −$38 a day in funding at the current rate, which eats that in about 5 hours. At the pace of the last 7 days (−0.155% in total) that is about 3.4 days. The two prices were read 63 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.155% in total (about -8.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.58 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni USELESSUSDT	0.3001	0.1365	pay 0.0171% / 1h	38m 02s	$56K	$699K	25x
Short	Polymarket Perps USELESS-USD	0.3003	0.0100	get 0.0013% / 1h	38m 02s	$29K	$284K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.073%Rate

Funding earned: −$265.68
Price spread: +0.073% → −0.001%: $7.44
Slippage, 4 orders: −$51.64
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$327.88
Costs to cover: 0.696%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 61 min ago; Polymarket Perps: live order book, 59 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, 61 min ago	10.30 bp	18.2 bp −$18	110.4 bp −$1,104	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 59 min ago	0.52 bp	27.3 bp −$27	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	0.2981	−0.653%	$1.4M	$1.1M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2994	−0.243%	$32K	$19K	3x	as long as short
Gate USELESS_USDT	+0.0100%	4h	0.2969	−1.080%	$7.5M	$8.9M	50x	as long as short
KuCoin USELESSUSDTM	+0.0100%	4h	0.2994	−0.217%	$5.5M	$10.9M	12x	as long as short
Bitget USELESSUSDT	+0.0100%	4h	0.2966	−1.163%	$5.7M	$11.3M	20x	as long as short
Polymarket Perps USELESS-USDshort	+0.0100%	1h	0.3003	+0.073%	$29K	$284K	3x
SunX USELESS-USDT	+0.0100%	4h	0.3000	−0.027%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2978	−0.776%	$20K	$515K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2997	−0.130%	$688K	$1.3M	20x	as long as short
OKX USELESS-USDT-SWAP	+0.0111%	4h	0.2970	−1.036%	$10.9M	$77.6M	10x	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	+0.0200%	1h	0.3001	+0.007%	$11K	—	3x	as long as short
Aster USELESSUSDT	+0.0339%	4h	0.2971	−1.002%	$623K	$2.3M	10x	as long as short
edgeX USELESSUSDC	+0.0459%	4h	0.3007	+0.198%	$22K	$199K	10x	as long as short
MEXC USELESS_USDT	+0.0472%	4h	0.2978	−0.773%	$14.0M	$6.6M	50x	as long as short
Binance USELESSUSDT	+0.0479%	4h	0.2973	−0.932%	$25.5M	$132.1M	50x	as long as short
Extended USELESS-USD	+0.0480%	1h	0.2973	−0.940%	$282K	$1.7M	5x	as long as short
BingX USELESS-USDT	+0.0616%	4h	0.2981	−0.653%	—	$5.5M	—	as long as short
Variational Omni USELESS	+0.0820%	4h	0.3004	+0.105%	$1.3M	$1.9M	—	as long as short
Bybit USELESSUSDT	+0.0898%	4h	0.2971	−1.006%	$29.4M	$53.0M	13x	as long as short
Orderly PERP_USELESS_USDC	+0.0962%	4h	0.3003	+0.060%	$22K	$1.9M	10x	as long as short
Hyperliquid USELESS	+0.1069%	1h	0.2983	−0.586%	$13.4M	$24.2M	3x	as long as short
ApeX Omni USELESSUSDTlong	+0.1365%	1h	0.3001	long leg	$56K	$699K	25x
BloFin USELESS-USDT	+0.1392%	4h	0.3001	+0.013%	$1.3M	$2.3M	12x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.3178	+5.898%	$5K	$11K	5.5x	as long as short