Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.020%

Price spread now: OKX against HTX−0.230%7-day average +0.075% · you buy dearer than you sell

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

Long on HTX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.030%+$3 on $10k

Price spread, last 3 days (all we have)+0.640%+$64 · spread now −0.230%, 7d avg +0.075%

Together, before fees+0.670%+$67 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: OKX is 0.306% cheaper against HTX than usual: you would sell low and buy high, −$31 on $10k if it goes back to its 7-day average of +0.075%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX USELESS-USDT	0.2737	0.0100	pay 0.0050% / 4h	1h 20m	$18K	$489K	20x
Short	OKX USELESS-USDT-SWAP	0.2731	0.0100	get 0.0050% / 4h	1h 20m	$9.6M	$63.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.230%Rate

Funding earned: $0
Price spread: −0.230% → +0.075%: −$30.56
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$52.56
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: HTX: live order book, 62 min ago; OKX: live order book, 3 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, 62 min ago	46.22 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 3 min ago	1.28 bp	17.2 bp −$17	98.4 bp −$984	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	0.2733	−0.153%	$1.3M	$1.1M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2738	+0.034%	$30K	$70K	3x	as long as short
OKX USELESS-USDT-SWAPshort	+0.0100%	4h	0.2731	−0.230%	$9.6M	$63.1M	10x
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2727	−0.373%	$26K	$145K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2728	−0.336%	—	$1.4M	10x	as long as short
HTX USELESS-USDTlong	+0.0100%	4h	0.2737	long leg	$18K	$489K	20x
Phemex USELESSUSDT	+0.0100%	4h	0.2722	−0.581%	$558K	$1.2M	20x	as long as short
ApeX Omni USELESSUSDT	+0.0198%	1h	0.2735	−0.088%	$38K	$699K	25x	as long as short
Aevo USELESS-PERP	+0.0200%	1h	0.2730	−0.259%	$10K	—	3x	as long as short
KuCoin USELESSUSDTM	+0.0332%	4h	0.2728	−0.354%	$5.1M	$9.9M	12x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate USELESS_USDT	+0.0372%	4h	0.2732	−0.216%	$6.9M	$8.0M	50x	as long as short
edgeX USELESSUSDC	+0.0492%	4h	0.2737	0.000%	$20K	$191K	10x	as long as short
Extended USELESS-USD	+0.0496%	1h	0.2731	−0.239%	$287K	$965K	5x	as long as short
Binance USELESSUSDT	+0.0498%	4h	0.2730	−0.288%	$23.1M	$113.7M	50x	as long as short
MEXC USELESS_USDT	+0.0500%	4h	0.2730	−0.270%	$9.9M	$5.9M	50x	as long as short
Bitget USELESSUSDT	+0.0514%	4h	0.2730	−0.270%	$5.2M	$9.1M	20x	as long as short
Hyperliquid USELESS	+0.0885%	1h	0.2732	−0.212%	$13.3M	$20.6M	3x	as long as short
Aster USELESSUSDT	+0.1136%	4h	0.2730	−0.275%	$640K	$2.2M	10x	as long as short
Orderly PERP_USELESS_USDC	+0.1260%	4h	0.2737	−0.026%	$21K	$1.4M	10x	as long as short
BingX USELESS-USDT	+0.1294%	4h	0.2731	−0.226%	—	$5.0M	—	as long as short
Bybit USELESSUSDT	+0.1388%	4h	0.2732	−0.212%	$27.3M	$44.6M	13x	as long as short
Variational Omni USELESS	+0.1473%	4h	0.2741	+0.143%	$1.1M	$1.8M	—	as long as short
BloFin USELESS-USDT	+0.1790%	4h	0.2735	−0.102%	$1.2M	$1.9M	12x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2934	+7.182%	$5K	$9K	5.5x	as long as short