Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.4900%/8h= +536.5% APRpaid last 24h −0.784%

Price spread now: Injective against HTX+5.909%7-day average — · you sell dearer than you buy

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

Long on HTX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$147 a day on $10k at the current rate, and Injective is 5.909% dearer against HTX than usual: you sell high and buy low: +$591 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX USELESS-USDT	0.2818	0.0100	pay 0.0050% / 4h	2h 22m	$18K	$519K	20x
Short	Injective USELESS/USDC PERP	0.2984	0.5000	get 0.0625% / 1h	22m 43s	$5K	$9K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +5.909%Rate

Funding earned: $1,029
Price spread: +5.909% → 0.000%: $590.87
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $1,607.85
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: HTX: live order book, 46 min ago; Injective: no order-book sample. 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, 46 min ago	35.00 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

USELESS on 23 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	0.2823	+0.192%	$1.3M	$1.2M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2821	+0.121%	$31K	$70K	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0100%	4h	0.2825	+0.263%	$10.0M	$66.6M	10x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2823	+0.170%	—	$1.4M	10x	as long as short
HTX USELESS-USDTlong	+0.0100%	4h	0.2818	long leg	$18K	$519K	20x
Phemex USELESSUSDT	+0.0100%	4h	0.2809	−0.319%	$605K	$1.2M	20x	as long as short
Gate USELESS_USDT	+0.0116%	4h	0.2820	+0.064%	$7.1M	$8.4M	50x	as long as short
KuCoin USELESSUSDTM	+0.0122%	4h	0.2821	+0.114%	$5.2M	$10.3M	12x	as long as short
Aevo USELESS-PERP	+0.0224%	1h	0.2823	+0.176%	$10K	—	3x	as long as short
Polymarket Perps USELESS-USD	+0.0525%	1h	0.2822	+0.128%	$29K	$200K	3x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX USELESSUSDC	+0.0533%	4h	0.2827	+0.312%	$21K	$194K	10x	as long as short
BingX USELESS-USDT	+0.0542%	4h	0.2827	+0.312%	—	$5.1M	—	as long as short
Extended USELESS-USD	+0.0552%	1h	0.2822	+0.131%	$302K	$1.1M	5x	as long as short
Binance USELESSUSDT	+0.0554%	4h	0.2825	+0.243%	$23.9M	$117.4M	50x	as long as short
MEXC USELESS_USDT	+0.0554%	4h	0.2823	+0.174%	$11.0M	$6.0M	50x	as long as short
Bitget USELESSUSDT	+0.0582%	4h	0.2824	+0.220%	$5.4M	$9.8M	20x	as long as short
Bybit USELESSUSDT	+0.0684%	4h	0.2826	+0.287%	$27.5M	$46.4M	13x	as long as short
ApeX Omni USELESSUSDT	+0.0728%	1h	0.2820	+0.075%	$39K	$699K	25x	as long as short
Variational Omni USELESS	+0.0829%	4h	0.2823	+0.180%	$1.2M	$1.7M	—	as long as short
Aster USELESSUSDT	+0.1079%	4h	0.2822	+0.156%	$648K	$2.3M	10x	as long as short
Orderly PERP_USELESS_USDC	+0.1278%	4h	0.2823	+0.170%	$22K	$1.3M	10x	as long as short
Hyperliquid USELESS	+0.1366%	1h	0.2829	+0.387%	$14.2M	$20.7M	3x	as long as short
Injective USELESS/USDC PERPshort	+0.5000%	1h	0.2984	+5.909%	$5K	$9K	5.5x