Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0632%/8h= −69.3% APRpaid last 24h −0.177%

Price spread now: Bitget against Hyperliquid−0.014%7-day average −0.073% · you buy dearer than you sell

Net, funding: paid 7d − costs−$168as in the Funding arb table

Net, price: spread back to 7d avg − costs−$88as in the Price arb table

costs, in and out, $10k−$940.938% of the position

Long on Hyperliquid Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.738%−$74 on $10k

Price spread, last 7 days+0.021%+$2 · spread now −0.014%, 7d avg −0.073%

Together, before fees−0.717%+ Points / potential airdropHyperliquid: Season 2 · farm board−$72 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.059% dearer against Hyperliquid than usual: you sell high and buy low (spread −0.014% now, against its 7-day average of −0.073%): +$6 on $10k if it goes back. Holding the pair costs −$19 a day in funding at the current rate, which eats that in about 7 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid USELESS	0.2839	0.1158	pay 0.0145% / 1h	50m 52s	$14.6M	$19.8M	3x
Short	Bitget USELESSUSDT	0.2839	0.0526	get 0.0263% / 4h	1h 50m	$5.5M	$8.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Hyperliquid. 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 HyperliquidbpFee BitgetbpOrdersPrice spread, now −0.014%Rate

Funding earned: −$132.82
Price spread: −0.014% → −0.073%: $5.91
Slippage, 4 orders: −$72.83
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$220.75
Costs to cover: 0.938%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 12 min ago; Bitget: live order book, 3 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 Hyperliquid live order book, 12 min ago	1.75 bp	20.0 bp −$20	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	4.25 bp	34.0 bp −$34	doesn't fit	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	0.2832	−0.250%	$1.3M	$1.1M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2837	−0.081%	$31K	$70K	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0100%	4h	0.2836	−0.141%	$10.0M	$64.2M	10x	as long as short
ApeX Omni USELESSUSDT	+0.0100%	1h	0.2819	−0.722%	$40K	$699K	25x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2838	−0.067%	$28K	$140K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2828	−0.401%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2846	+0.215%	$27K	$410K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2814	−0.887%	$574K	$1.2M	20x	as long as short
Aevo USELESS-PERP	+0.0224%	1h	0.2836	−0.113%	$10K	—	3x	as long as short
KuCoin USELESSUSDTM	+0.0296%	4h	0.2834	−0.190%	$5.3M	$9.7M	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	+0.0306%	4h	0.2830	−0.331%	$7.1M	$7.9M	50x	as long as short
Bitget USELESSUSDTshort	+0.0526%	4h	0.2839	−0.014%	$5.5M	$8.9M	20x
Binance USELESSUSDT	+0.0567%	4h	0.2839	−0.032%	$24.0M	$111.5M	50x	as long as short
Extended USELESS-USD	+0.0568%	1h	0.2840	+0.005%	$298K	$968K	5x	as long as short
MEXC USELESS_USDT	+0.0572%	4h	0.2840	+0.011%	$10.0M	$5.7M	50x	as long as short
edgeX USELESSUSDC	+0.0580%	4h	0.2822	−0.622%	$21K	$190K	10x	as long as short
Hyperliquid USELESSlong	+0.1158%	1h	0.2839	long leg	$14.6M	$19.8M	3x
Orderly PERP_USELESS_USDC	+0.1228%	4h	0.2837	−0.088%	$22K	$1.4M	10x	as long as short
Aster USELESSUSDT	+0.1232%	4h	0.2835	−0.162%	$656K	$2.2M	10x	as long as short
BingX USELESS-USDT	+0.1360%	4h	0.2838	−0.046%	—	$4.9M	—	as long as short
Variational Omni USELESS	+0.1449%	4h	0.2870	+1.088%	$1.2M	$1.8M	—	as long as short
Bybit USELESSUSDT	+0.1450%	4h	0.2838	−0.053%	$28.8M	$43.3M	13x	as long as short
BloFin USELESS-USDT	+0.1874%	4h	0.2829	−0.366%	$1.2M	$1.9M	12x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.3032	+6.783%	$5K	$9K	5.5x	as long as short