Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.1084%/8h= −118.7% APRpaid last 24h −0.132%

Price spread now: Polymarket Perps against BingX−0.702%7-day average +0.042% · you buy dearer than you sell

Net, funding: paid 7d − costs−$110as in the Funding arb table

Net, price: spread back to 7d avg − costs−$149as in the Price arb table

costs, in and out, $10k−$740.745% of the position

Long on BingX Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.359%−$36 on $10k

Price spread, last 7 days+0.659%+$66 · spread now −0.702%, 7d avg +0.042%

Together, before fees+0.300%+$30 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$33 a day on $10k at the current rate, and Polymarket Perps is 0.744% cheaper against BingX than usual: you would sell low and buy high (−$74 if the spread goes back to its 7-day average of +0.042%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.359% in total (about -18.7% a year). A funding rate is set anew for every payment. 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	BingX USELESS-USDT	0.2921	0.1184	pay 0.0592% / 4h	3h 54m	—	$5.4M	—
Short	Polymarket Perps USELESS-USD	0.2901	0.0100	get 0.0013% / 1h	54m 49s	$28K	$284K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against BingX. 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 BingXbpFee Polymarket PerpsbpOrdersPrice spread, now −0.702%Rate

Funding earned: −$227.64
Price spread: −0.702% → +0.042%: −$74.36
Slippage, 4 orders: −$56.46
Fee BingX: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$376.46
Costs to cover: 0.745%
Break-even: never at this rate

Slippage from BingX: live order book, 10 min ago; Polymarket Perps: live order book, 42 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 BingX live order book, 10 min ago	3.83 bp	20.7 bp −$21	61.6 bp −$616	349.1 bp −$34.9K	1071.9 bp −$536.0K
Sell Polymarket Perps live order book, 42 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	0.2916	−0.171%	$1.3M	$1.1M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2913	−0.294%	$31K	$19K	3x	as long as short
KuCoin USELESSUSDTM	+0.0100%	4h	0.2914	−0.236%	$5.3M	$10.8M	12x	as long as short
Bitget USELESSUSDT	+0.0100%	4h	0.2920	−0.041%	$5.6M	$11.0M	20x	as long as short
Polymarket Perps USELESS-USDshort	+0.0100%	1h	0.2901	−0.702%	$28K	$284K	3x
SunX USELESS-USDT	+0.0100%	4h	0.2914	−0.236%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2904	−0.582%	$19K	$515K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2913	−0.294%	$667K	$1.3M	20x	as long as short
OKX USELESS-USDT-SWAP	+0.0127%	4h	0.2915	−0.226%	$10.2M	$74.3M	10x	as long as short
Aevo USELESS-PERP	+0.0176%	1h	0.2931	+0.315%	$11K	—	3x	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	+0.0260%	4h	0.2915	−0.226%	$7.3M	$8.6M	50x	as long as short
Aster USELESSUSDT	+0.0328%	4h	0.2914	−0.253%	$574K	$2.2M	10x	as long as short
edgeX USELESSUSDC	+0.0353%	4h	0.2920	−0.046%	$22K	$198K	10x	as long as short
Extended USELESS-USD	+0.0400%	1h	0.2922	+0.013%	$279K	$1.7M	5x	as long as short
MEXC USELESS_USDT	+0.0400%	4h	0.2919	−0.086%	$13.2M	$6.3M	50x	as long as short
Binance USELESSUSDT	+0.0400%	4h	0.2918	−0.123%	$24.4M	$127.9M	50x	as long as short
ApeX Omni USELESSUSDT	+0.0464%	1h	0.2903	−0.630%	$53K	$700K	25x	as long as short
Variational Omni USELESS	+0.0779%	4h	0.2921	+0.001%	$1.2M	$1.9M	—	as long as short
Orderly PERP_USELESS_USDC	+0.0969%	4h	0.2918	−0.120%	$21K	$1.8M	10x	as long as short
Hyperliquid USELESS	+0.0992%	1h	0.2921	−0.010%	$12.8M	$23.7M	3x	as long as short
BingX USELESS-USDTlong	+0.1184%	4h	0.2921	long leg	—	$5.4M	—
BloFin USELESS-USDT	+0.1372%	4h	0.2925	+0.113%	$1.2M	$2.2M	12x	as long as short
Bybit USELESSUSDT	+0.1938%	4h	0.2918	−0.120%	$28.2M	$51.2M	13x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.3062	+4.809%	$5K	$10K	5.5x	as long as short