USELESS

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.1060%/8h= −116.0% APRnext payment −$1.32 per $10,000 · paid last 24h −0.211%

Price spread now: Polymarket Perps against Hyperliquid−1.308%7-day average −0.035% · you buy dearer than you sell

Net, funding: paid 7d − costs−$160as in the Funding arb table

Net, price: spread back to 7d avg − costs−$190as in the Price arb table

costs, in and out, $10k−$630.626% of the position

Long on Hyperliquid Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.977%−$98 on $10k

Price spread, last 7 days+1.304%+$130 · spread now −1.308%, 7d avg −0.035%

Together, before fees+0.326%+ Points / potential airdropHyperliquid: Season 2 · farm board+$33 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$32 a day on $10k at the current rate, and Polymarket Perps is 1.273% cheaper against Hyperliquid than usual: you would sell low and buy high (−$127 if the spread goes back to its 7-day average of −0.035%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid USELESS	0.3034	0.1160	pay 0.0145% / 1h	22m 54s	$13.7M	$24.2M	3x
Short	Polymarket Perps USELESS-USD	0.2994	0.0100	get 0.0013% / 1h	22m 54s	$29K	$284K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −1.308%Rate

Funding earned: −$222.56
Price spread: −1.308% → −0.035%: −$127.34
Slippage, 4 orders: −$45.61
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$412.51
Costs to cover: 0.626%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 10 min ago; Polymarket Perps: live order book, 74 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, 10 min ago	1.17 bp	21.3 bp −$21	doesn't fit	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 74 min ago	0.52 bp	27.3 bp −$27	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	0.3008	−0.857%	$1.4M	$1.2M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2994	−1.325%	$32K	$19K	3x	as long as short
Gate USELESS_USDT	+0.0100%	4h	0.3014	−0.653%	$7.6M	$9.1M	50x	as long as short
Bitget USELESSUSDT	+0.0100%	4h	0.3033	−0.046%	$5.8M	$11.4M	20x	as long as short
Polymarket Perps USELESS-USDshort	+0.0100%	1h	0.2994	−1.308%	$29K	$284K	3x
SunX USELESS-USDT	+0.0100%	4h	0.3008	−0.873%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.3013	−0.699%	$20K	$515K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.3008	−0.877%	$684K	$1.3M	20x	as long as short
OKX USELESS-USDT-SWAP	+0.0101%	4h	0.3029	−0.181%	$11.0M	$79.9M	10x	as long as short
KuCoin USELESSUSDTM	+0.0134%	4h	0.3012	−0.725%	$5.5M	$11.0M	12x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo USELESS-PERP	+0.0216%	1h	0.3000	−1.108%	$11K	—	3x	as long as short
Aster USELESSUSDT	+0.0337%	4h	0.3017	−0.554%	$629K	$2.4M	10x	as long as short
edgeX USELESSUSDC	+0.0524%	4h	0.2987	−1.540%	$22K	$199K	10x	as long as short
Extended USELESS-USD	+0.0536%	1h	0.3016	−0.610%	$286K	$1.7M	5x	as long as short
MEXC USELESS_USDT	+0.0538%	4h	0.3020	−0.471%	$14.7M	$6.8M	50x	as long as short
Binance USELESSUSDT	+0.0540%	4h	0.3027	−0.231%	$26.0M	$134.3M	50x	as long as short
Variational Omni USELESS	+0.0937%	4h	0.2978	−1.863%	$1.2M	$1.9M	—	as long as short
Orderly PERP_USELESS_USDC	+0.0959%	4h	0.3004	−0.989%	$22K	$1.9M	10x	as long as short
ApeX Omni USELESSUSDT	+0.1037%	1h	0.2979	−1.816%	$55K	$699K	25x	as long as short
Hyperliquid USELESSlong	+0.1160%	1h	0.3034	long leg	$13.7M	$24.2M	3x
Bybit USELESSUSDT	+0.1352%	4h	0.3030	−0.135%	$30.0M	$53.7M	13x	as long as short
BingX USELESS-USDT	+0.1358%	4h	0.3025	−0.287%	—	$5.6M	—	as long as short
BloFin USELESS-USDT	+0.1826%	4h	0.3010	−0.788%	$1.3M	$2.4M	12x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.3176	+4.667%	$5K	$11K	5.5x	as long as short