Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0263%/8h= −28.8% APRpaid last 24h −0.076%

Price spread now: ApeX Omni against edgeX+0.013%7-day average −0.031% · you sell dearer than you buy

Net, funding: paid 7d − costs−$243as in the Funding arb table

Net, price: spread back to 7d avg − costs−$227as in the Price arb table

costs, in and out, $10k−$2322.318% of the position

Long on edgeX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.116%−$12 on $10k

Price spread, last 3 days (all we have)−0.170%−$17 · spread now +0.013%, 7d avg −0.031%

Together, before fees−0.286%+ Points / potential airdropedgeX: Active · farm board−$29 on $10k · with fees, hour by hour

The price spread pays, funding is against you. ApeX Omni is 0.044% dearer against edgeX than usual: you sell high and buy low (spread +0.013% now, against its 7-day average of −0.031%): +$4 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 14 hours. At the pace of the last 7 days (−0.116% in total) that is about 2.7 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.116% in total (about -6.0% 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	edgeX USELESSUSDC	0.2849	0.0608	pay 0.0304% / 4h	2h 05m	$21K	$190K	10x
Short	ApeX Omni USELESSUSDT	0.2849	0.0346	get 0.0043% / 1h	5m 34s	$41K	$698K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against edgeX. 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 edgeXbpFee ApeX OmnibpOrdersPrice spread, now +0.013%Rate

Funding earned: −$55.19
Price spread: +0.013% → −0.031%: $4.44
Slippage, 4 orders: −$212.8
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$282.55
Costs to cover: 2.318%
Break-even: never at this rate

Slippage from edgeX: live order book, 16 min ago; ApeX Omni: live order book, 18 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 edgeX live order book, 16 min ago	1.53 bp	34.5 bp −$34	doesn't fit	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 18 min ago	10.22 bp	18.3 bp −$18	105.8 bp −$1,058	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	0.2851	+0.073%	$1.3M	$1.1M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2849	+0.017%	$32K	$70K	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0100%	4h	0.2849	+0.006%	$10.1M	$64.2M	10x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2852	+0.125%	$28K	$139K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2852	+0.122%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2841	−0.275%	$20K	$387K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2834	−0.507%	$569K	$1.2M	20x	as long as short
Aevo USELESS-PERP	+0.0232%	1h	0.2850	+0.052%	$10K	—	3x	as long as short
KuCoin USELESSUSDTM	+0.0284%	4h	0.2847	−0.054%	$5.3M	$9.7M	12x	as long as short
ApeX Omni USELESSUSDTshort	+0.0346%	1h	0.2849	+0.013%	$41K	$698K	25x

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate USELESS_USDT	+0.0448%	4h	0.2846	−0.096%	$7.1M	$7.9M	50x	as long as short
Bitget USELESSUSDT	+0.0524%	4h	0.2852	+0.101%	$5.5M	$8.8M	20x	as long as short
MEXC USELESS_USDT	+0.0590%	4h	0.2851	+0.094%	$10.0M	$5.9M	50x	as long as short
Extended USELESS-USD	+0.0592%	1h	0.2850	+0.055%	$299K	$968K	5x	as long as short
Binance USELESSUSDT	+0.0595%	4h	0.2852	+0.119%	$24.3M	$110.7M	50x	as long as short
edgeX USELESSUSDClong	+0.0608%	4h	0.2849	long leg	$21K	$190K	10x
BingX USELESS-USDT	+0.1094%	4h	0.2852	+0.132%	—	$4.9M	—	as long as short
Orderly PERP_USELESS_USDC	+0.1198%	4h	0.2851	+0.083%	$21K	$1.4M	10x	as long as short
Aster USELESSUSDT	+0.1283%	4h	0.2849	+0.026%	$660K	$2.2M	10x	as long as short
Variational Omni USELESS	+0.1295%	4h	0.2859	+0.365%	$1.2M	$1.7M	—	as long as short
Bybit USELESSUSDT	+0.1377%	4h	0.2853	+0.157%	$28.9M	$43.1M	13x	as long as short
Hyperliquid USELESS	+0.1519%	1h	0.2852	+0.125%	$14.6M	$19.8M	3x	as long as short
BloFin USELESS-USDT	+0.1534%	4h	0.2853	+0.136%	$1.2M	$1.9M	12x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.3006	+5.538%	$5K	$10K	5.5x	as long as short