Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0422%/8h= −46.2% APRpaid last 24h −0.103%

Price spread now: KuCoin against Extended+0.018%7-day average +0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs−$220as in the Funding arb table

Net, price: spread back to 7d avg − costs−$212as in the Price arb table

costs, in and out, $10k−$2142.139% of the position

Long on Extended Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.059%−$6 on $10k

Price spread, last 7 days−0.210%−$21 · spread now +0.018%, 7d avg +0.003%

Together, before fees−0.269%+ Points / potential airdropExtended: Active · farm board−$27 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.003%, so right now this pair is about funding alone: −$13 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.059% in total (about -3.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended USELESS-USD	0.3022	0.0784	pay 0.0098% / 1h	7m 19s	$296K	$1.7M	5x
Short	KuCoin USELESSUSDTM	0.3023	0.0362	get 0.0181% / 4h	1h 07m	$5.7M	$10.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.018%Rate

Funding earned: −$88.62
Price spread: +0.018% → +0.003%: $1.51
Slippage, 4 orders: −$196.9
Fee Extended: 2.5 bp × 2 orders: −$5
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$301.01
Costs to cover: 2.139%
Break-even: never at this rate

Slippage from Extended: live order book, 4 min ago; KuCoin: 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 Extended live order book, 4 min ago	54.97 bp	72.8 bp −$73	370.3 bp −$3,703	doesn't fit	doesn't fit
Sell KuCoin live order book, 4 min ago	7.65 bp	35.8 bp −$36	doesn't fit	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	0.3171	+4.925%	$5K	$10K	5.5x	as long as short
Pacifica USELESS	+0.0100%	1h	0.3026	+0.128%	$32K	$18K	3x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.3025	+0.075%	$29K	$292K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.3023	+0.022%	—	$1.2M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.3015	−0.236%	$38K	$534K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.3008	−0.478%	$712K	$1.3M	20x	as long as short
Lighter USELESS	+0.0136%	1h	0.3025	+0.088%	$1.4M	$1.1M	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0205%	4h	0.3022	−0.005%	$11.6M	$73.4M	10x	as long as short
Aevo USELESS-PERP	+0.0280%	1h	0.3025	+0.101%	$11K	—	3x	as long as short
KuCoin USELESSUSDTMshort	+0.0362%	4h	0.3023	+0.018%	$5.7M	$10.2M	10x

Show all 24 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget USELESSUSDT	+0.0414%	4h	0.3023	+0.035%	$6.0M	$10.6M	20x	as long as short
Aster USELESSUSDT	+0.0751%	4h	0.3020	−0.064%	$657K	$2.4M	10x	as long as short
edgeX USELESSUSDC	+0.0762%	4h	0.3019	−0.124%	$22K	$201K	10x	as long as short
Extended USELESS-USDlong	+0.0784%	1h	0.3022	long leg	$296K	$1.7M	5x
MEXC USELESS_USDT	+0.0786%	4h	0.3023	+0.008%	$17.1M	$7.4M	50x	as long as short
Binance USELESSUSDT	+0.0787%	4h	0.3024	+0.041%	$26.2M	$130.2M	50x	as long as short
Gate USELESS_USDT	+0.0810%	4h	0.3017	−0.164%	$7.6M	$8.7M	50x	as long as short
ApeX Omni USELESSUSDT	+0.1037%	1h	0.3013	−0.309%	$56K	$695K	25x	as long as short
Hyperliquid USELESS	+0.1089%	1h	0.3025	+0.091%	$14.1M	$21.4M	3x	as long as short
BingX USELESS-USDT	+0.1244%	4h	0.3024	+0.051%	—	$5.7M	—	as long as short
Variational Omni USELESS	+0.1304%	4h	0.3015	−0.227%	$1.3M	$1.9M	—	as long as short
Orderly PERP_USELESS_USDC	+0.1341%	4h	0.3024	+0.065%	$25K	$1.8M	10x	as long as short
Bybit USELESSUSDT	+0.1349%	4h	0.3024	+0.061%	$29.9M	$51.7M	13x	as long as short
BloFin USELESS-USDT	+0.1708%	4h	0.3026	+0.127%	$1.4M	$2.4M	12x	as long as short