Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0136%/8h= −14.9% APRpaid last 24h −0.012%

Price spread now: Polymarket Perps against KuCoin+0.154%7-day average +0.081% · you sell dearer than you buy

Net, funding: paid 7d − costs−$271as in the Funding arb table

Net, price: spread back to 7d avg − costs−$234as in the Price arb table

costs, in and out, $10k−$2412.413% of the position

Long on KuCoin Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.293%−$29 on $10k

Price spread, last 7 days−0.282%−$28 · spread now +0.154%, 7d avg +0.081%

Together, before fees−0.576%−$58 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Polymarket Perps is 0.073% dearer against KuCoin than usual: you sell high and buy low (spread +0.154% now, against its 7-day average of +0.081%): +$7 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 43 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin USELESSUSDTM	0.2599	0.0236	pay 0.0118% / 4h	16m 17s	$4.7M	$10.7M	12x
Short	Polymarket Perps USELESS-USD	0.2603	0.0100	get 0.0013% / 1h	16m 17s	$30K	$225K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.154%Rate

Funding earned: −$28.56
Price spread: +0.154% → +0.081%: $7.27
Slippage, 4 orders: −$221.31
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$262.6
Costs to cover: 2.413%
Break-even: never at this rate

Slippage from KuCoin: live order book, 2 min ago; Polymarket Perps: live order book, 41 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, 2 min ago	8.07 bp	34.8 bp −$35	doesn't fit	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 41 min ago	6.65 bp	81.3 bp −$81	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	0.2602	+0.131%	$1.2M	$1.2M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2599	+0.012%	$28K	$66K	3x	as long as short
Polymarket Perps USELESS-USDshort	+0.0100%	1h	0.2603	+0.154%	$30K	$225K	3x
SunX USELESS-USDT	+0.0100%	4h	0.2602	+0.096%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2604	+0.189%	$18K	$523K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2599	+0.012%	$581K	$1.0M	20x	as long as short
Hyperliquid USELESS	+0.0178%	1h	0.2605	+0.212%	$11.4M	$22.7M	3x	as long as short
Aevo USELESS-PERP	+0.0192%	1h	0.2605	+0.219%	$9K	—	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0200%	4h	0.2603	+0.142%	$8.9M	$63.4M	10x	as long as short
Gate USELESS_USDT	+0.0234%	4h	0.2599	+0.012%	$6.5M	$8.8M	50x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin USELESSUSDTMlong	+0.0236%	4h	0.2599	long leg	$4.7M	$10.7M	12x
Bitget USELESSUSDT	+0.0302%	4h	0.2600	+0.023%	$4.9M	$10.4M	20x	as long as short
ApeX Omni USELESSUSDT	+0.0392%	1h	0.2582	−0.658%	$33K	$694K	25x	as long as short
edgeX USELESSUSDC	+0.0426%	4h	0.2589	−0.398%	$19K	$197K	10x	as long as short
MEXC USELESS_USDT	+0.0428%	4h	0.2601	+0.085%	$10.5M	$6.2M	50x	as long as short
Binance USELESSUSDT	+0.0428%	4h	0.2603	+0.141%	$21.6M	$121.9M	50x	as long as short
Extended USELESS-USD	+0.0432%	1h	0.2604	+0.170%	$112K	$1.2M	5x	as long as short
BingX USELESS-USDT	+0.0480%	4h	0.2604	+0.169%	—	$5.3M	—	as long as short
Aster USELESSUSDT	+0.0485%	4h	0.2601	+0.054%	$518K	$2.4M	10x	as long as short
Bybit USELESSUSDT	+0.0500%	4h	0.2603	+0.142%	$24.7M	$48.3M	13x	as long as short
Variational Omni USELESS	+0.0640%	4h	0.2591	−0.297%	$1.0M	$1.8M	—	as long as short
BloFin USELESS-USDT	+0.0753%	4h	0.2605	+0.223%	$1.1M	$1.9M	12x	as long as short
Orderly PERP_USELESS_USDC	+0.1320%	4h	0.2605	+0.208%	$19K	$1.2M	10x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2742	+5.490%	$5K	$11K	5.5x	as long as short