Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0668%/8h= +73.2% APRpaid last 24h +0.069%

Price spread now: ApeX Omni against HTX−1.370%7-day average +0.132% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on HTX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.139%+$14 on $10k

Price spread, last 4 days (all we have)+1.666%+$167 · spread now −1.370%, 7d avg +0.132%

Together, before fees+1.804%+$180 on $10k · with fees, hour by hour

Funding pays, the price is against you. ApeX Omni is 1.502% cheaper against HTX than usual: you would sell low and buy high (spread −1.370% now, against its 7-day average of +0.132%). If the spread goes back, that is −$150 on $10k: about 7.5 days of funding at the current rate (+$20 a day). At the pace of the last 7 days (+0.139% in total) that is about 3 months.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.139% in total (about 7.2% 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	HTX USELESS-USDT	0.3147	0.0100	pay 0.0050% / 4h	8m 24s	$32K	$578K	20x
Short	ApeX Omni USELESSUSDT	0.3104	0.0768	get 0.0096% / 1h	8m 24s	$59K	$687K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against HTX. 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 HTXbpFee ApeX OmnibpOrdersPrice spread, now −1.370%Rate

Funding earned: $140.33
Price spread: −1.370% → +0.132%: −$150.15
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$31.82
Costs to cover: 0.220%
Break-even: 8.6 days

Slippage unknown: HTX: live order book, 33 min ago; ApeX Omni: live order book, 33 min ago. Net counts fees only.

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 HTX live order book, 33 min ago	60.92 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 33 min ago	9.75 bp	17.3 bp −$17	119.1 bp −$1,191	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
Pacifica USELESS	+0.0100%	1h	0.3128	−0.598%	$33K	$19K	3x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.3129	−0.566%	$30K	$297K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.3137	−0.321%	—	$1.2M	10x	as long as short
HTX USELESS-USDTlong	+0.0100%	4h	0.3147	long leg	$32K	$578K	20x
Phemex USELESSUSDT	+0.0100%	4h	0.3127	−0.639%	$743K	$1.2M	20x	as long as short
Lighter USELESS	+0.0200%	1h	0.3125	−0.702%	$1.5M	$1.2M	3x	as long as short
Aevo USELESS-PERP	+0.0360%	1h	0.3134	−0.424%	$11K	—	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0367%	4h	0.3122	−0.804%	$12.2M	$77.5M	10x	as long as short
KuCoin USELESSUSDTM	+0.0634%	4h	0.3124	−0.731%	$5.9M	$10.1M	10x	as long as short
Gate USELESS_USDT	+0.0640%	4h	0.3121	−0.823%	$8.0M	$8.9M	50x	as long as short

Show all 24 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni USELESSUSDTshort	+0.0768%	1h	0.3104	−1.370%	$59K	$687K	25x
Bitget USELESSUSDT	+0.0854%	4h	0.3125	−0.709%	$6.2M	$11.4M	20x	as long as short
Aster USELESSUSDT	+0.0915%	4h	0.3125	−0.715%	$683K	$2.4M	10x	as long as short
edgeX USELESSUSDC	+0.1056%	4h	0.3107	−1.263%	$23K	$200K	10x	as long as short
Extended USELESS-USD	+0.1120%	1h	0.3126	−0.662%	$307K	$2.0M	5x	as long as short
MEXC USELESS_USDT	+0.1122%	4h	0.3125	−0.705%	$20.2M	$7.8M	50x	as long as short
Binance USELESSUSDT	+0.1122%	4h	0.3127	−0.626%	$27.8M	$135.5M	50x	as long as short
Hyperliquid USELESS	+0.1585%	1h	0.3127	−0.626%	$15.1M	$21.6M	3x	as long as short
Orderly PERP_USELESS_USDC	+0.1614%	4h	0.3135	−0.372%	$26K	$1.7M	10x	as long as short
BingX USELESS-USDT	+0.1868%	4h	0.3130	−0.537%	—	$5.8M	—	as long as short
Bybit USELESSUSDT	+0.1914%	4h	0.3122	−0.801%	$31.6M	$53.0M	13x	as long as short
Variational Omni USELESS	+0.1976%	4h	0.3113	−1.071%	$1.3M	$1.9M	—	as long as short
BloFin USELESS-USDT	+0.2566%	4h	0.3140	−0.222%	$1.4M	$2.5M	12x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.3315	+5.326%	$6K	$10K	5.5x	as long as short