Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0776%/8h= +85.0% APRpaid last 24h +0.035%

Price spread now: BingX against Extended+0.203%7-day average +0.042% · you sell dearer than you buy

Net, funding: paid 7d − costs−$192as in the Funding arb table

Net, price: spread back to 7d avg − costs−$184as in the Price arb table

costs, in and out, $10k−$2012.006% of the position

Long on Extended Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.083%+$8 on $10k

Price spread, last 7 days−0.404%−$40 · spread now +0.203%, 7d avg +0.042%

Together, before fees−0.321%+ Points / potential airdropExtended: Active · farm board−$32 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$23 a day on $10k at the current rate, and BingX is 0.161% dearer against Extended than usual: you sell high and buy low: +$16 more if the spread goes back to its 7-day average of +0.042%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.083% in total (about 4.3% 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	Extended USELESS-USD	0.2951	0.0408	pay 0.0051% / 1h	52m 55s	$283K	$1.7M	5x
Short	BingX USELESS-USDT	0.2957	0.1184	get 0.0592% / 4h	3h 52m	—	$5.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Extended. 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 ExtendedbpFee BingXbpOrdersPrice spread, now +0.203%Rate

Funding earned: $162.96
Price spread: +0.203% → +0.042%: $16.1
Slippage, 4 orders: −$185.57
Fee Extended: 2.5 bp × 2 orders: −$5
Fee BingX: 5 bp × 2 orders: −$10
Net: −$21.5
Costs to cover: 2.006%
Break-even: 7.9 days

Slippage from Extended: live order book, 5 min ago; BingX: live order book, 12 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 Extended live order book, 5 min ago	61.54 bp	80.9 bp −$81	356.6 bp −$3,566	doesn't fit	doesn't fit
Sell BingX live order book, 12 min ago	3.83 bp	20.2 bp −$20	71.6 bp −$716	374.3 bp −$37.4K	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	0.2954	+0.085%	$1.3M	$1.1M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2924	−0.929%	$31K	$19K	3x	as long as short
Bitget USELESSUSDT	+0.0100%	4h	0.2959	+0.278%	$5.7M	$11.1M	20x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2936	−0.528%	$28K	$284K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2946	−0.166%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2957	+0.180%	$20K	$515K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2958	+0.220%	$678K	$1.3M	20x	as long as short
KuCoin USELESSUSDTM	+0.0102%	4h	0.2953	+0.041%	$5.4M	$10.8M	12x	as long as short
OKX USELESS-USDT-SWAP	+0.0124%	4h	0.2950	−0.054%	$10.4M	$75.4M	10x	as long as short
Aevo USELESS-PERP	+0.0184%	1h	0.2954	+0.085%	$11K	—	3x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster USELESSUSDT	+0.0329%	4h	0.2949	−0.085%	$580K	$2.2M	10x	as long as short
edgeX USELESSUSDC	+0.0385%	4h	0.2919	−1.089%	$22K	$198K	10x	as long as short
MEXC USELESS_USDT	+0.0400%	4h	0.2957	+0.197%	$13.4M	$6.3M	50x	as long as short
Binance USELESSUSDT	+0.0407%	4h	0.2952	+0.010%	$24.7M	$128.7M	50x	as long as short
Extended USELESS-USDlong	+0.0408%	1h	0.2951	long leg	$283K	$1.7M	5x
Gate USELESS_USDT	+0.0580%	4h	0.2953	+0.071%	$7.4M	$8.7M	50x	as long as short
Variational Omni USELESS	+0.0779%	4h	0.2921	−1.012%	$1.2M	$1.9M	—	as long as short
Orderly PERP_USELESS_USDC	+0.0967%	4h	0.2952	+0.007%	$21K	$1.8M	10x	as long as short
BingX USELESS-USDTshort	+0.1184%	4h	0.2957	+0.203%	—	$5.4M	—
Hyperliquid USELESS	+0.1184%	1h	0.2959	+0.275%	$13.0M	$23.7M	3x	as long as short
BloFin USELESS-USDT	+0.1598%	4h	0.2959	+0.258%	$1.2M	$2.3M	12x	as long as short
ApeX Omni USELESSUSDT	+0.1634%	1h	0.2915	−1.230%	$54K	$700K	25x	as long as short
Bybit USELESSUSDT	+0.2008%	4h	0.2950	−0.027%	$28.6M	$51.5M	13x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.3105	+5.201%	$5K	$10K	5.5x	as long as short