Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0376%/8h= +41.2% APRpaid last 24h +0.091%

Price spread now: Extended against KuCoin+0.128%7-day average +0.030% · you sell dearer than you buy

Net, funding: paid 7d − costs−$257as in the Funding arb table

Net, price: spread back to 7d avg − costs−$247as in the Price arb table

costs, in and out, $10k−$2572.567% of the position

Long on KuCoin Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.007%−$1 on $10k

Price spread, last 4 days (all we have)−0.101%−$10 · spread now +0.128%, 7d avg +0.030%

Together, before fees−0.108%+ Points / potential airdropExtended: Active · farm board−$11 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and Extended is 0.097% dearer against KuCoin than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.030%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.007% in total (about -0.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin USELESSUSDTM	0.2831	0.0232	pay 0.0116% / 4h	1h 53m	$5.2M	$10.4M	12x
Short	Extended USELESS-USD	0.2835	0.0608	get 0.0076% / 1h	53m 05s	$301K	$1.1M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against KuCoin. 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 KuCoinbpFee ExtendedbpOrdersPrice spread, now +0.128%Rate

Funding earned: $78.96
Price spread: +0.128% → +0.030%: $9.75
Slippage, 4 orders: −$239.74
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$168.03
Costs to cover: 2.567%
Break-even: 21.9 days

Slippage from KuCoin: live order book, 5 min ago; Extended: live order book, 5 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 KuCoin live order book, 5 min ago	8.34 bp	39.2 bp −$39	doesn't fit	doesn't fit	doesn't fit
Sell Extended live order book, 5 min ago	70.50 bp	88.6 bp −$89	doesn't fit	doesn't fit	doesn't fit

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	0.2833	+0.064%	$1.3M	$1.2M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2831	+0.004%	$32K	$70K	3x	as long as short
Gate USELESS_USDT	+0.0100%	4h	0.2828	−0.102%	$7.1M	$8.4M	50x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2830	−0.028%	$30K	$206K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2834	+0.106%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2835	+0.145%	$19K	$504K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2826	−0.159%	$618K	$1.1M	20x	as long as short
OKX USELESS-USDT-SWAP	+0.0118%	4h	0.2834	+0.127%	$10.0M	$66.4M	10x	as long as short
ApeX Omni USELESSUSDT	+0.0191%	1h	0.2812	−0.668%	$39K	$699K	25x	as long as short
KuCoin USELESSUSDTMlong	+0.0232%	4h	0.2831	long leg	$5.2M	$10.4M	12x

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo USELESS-PERP	+0.0232%	1h	0.2826	−0.166%	$10K	—	3x	as long as short
Bitget USELESSUSDT	+0.0568%	4h	0.2834	+0.117%	$5.4M	$9.9M	20x	as long as short
edgeX USELESSUSDC	+0.0589%	4h	0.2837	+0.222%	$21K	$194K	10x	as long as short
Binance USELESSUSDT	+0.0605%	4h	0.2835	+0.155%	$24.0M	$117.0M	50x	as long as short
Extended USELESS-USDshort	+0.0608%	1h	0.2835	+0.128%	$301K	$1.1M	5x
MEXC USELESS_USDT	+0.0608%	4h	0.2834	+0.099%	$11.1M	$6.0M	50x	as long as short
BingX USELESS-USDT	+0.0956%	4h	0.2838	+0.251%	—	$5.1M	—	as long as short
Variational Omni USELESS	+0.0958%	4h	0.2846	+0.550%	$1.2M	$1.7M	—	as long as short
Bybit USELESSUSDT	+0.0987%	4h	0.2834	+0.124%	$27.5M	$46.2M	13x	as long as short
Aster USELESSUSDT	+0.1138%	4h	0.2834	+0.115%	$631K	$2.2M	10x	as long as short
Hyperliquid USELESS	+0.1210%	1h	0.2838	+0.254%	$14.1M	$20.7M	3x	as long as short
Orderly PERP_USELESS_USDC	+0.1348%	4h	0.2835	+0.138%	$22K	$1.3M	10x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2994	+5.747%	$5K	$9K	5.5x	as long as short