Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0266%/8h= −29.1% APRpaid last 24h −0.101%

Price spread now: Polymarket Perps against MEXC+0.063%7-day average +0.028% · you sell dearer than you buy

Net, funding: paid 7d − costs−$81as in the Funding arb table

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$530.530% of the position

Long on MEXC Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.278%−$28 on $10k

Price spread, last 7 days−0.107%−$11 · spread now +0.063%, 7d avg +0.028%

Together, before fees−0.385%−$38 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Polymarket Perps is 0.034% dearer against MEXC than usual: you sell high and buy low (spread +0.063% now, against its 7-day average of +0.028%): +$3 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 10 hours. At the pace of the last 7 days (−0.278% in total) that is about 21 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC USELESS_USDT	0.2878	0.0366	pay 0.0183% / 4h	14m 14s	$12.8M	$6.3M	50x
Short	Polymarket Perps USELESS-USD	0.2879	0.0100	get 0.0013% / 1h	14m 14s	$28K	$281K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against MEXC. 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 MEXCbpFee Polymarket PerpsbpOrdersPrice spread, now +0.063%Rate

Funding earned: −$55.86
Price spread: +0.063% → +0.028%: $3.43
Slippage, 4 orders: −$36.99
Fee MEXC: 4 bp × 2 orders: −$8
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$105.42
Costs to cover: 0.530%
Break-even: never at this rate

Slippage from MEXC: live order book, 4 min ago; Polymarket Perps: live order book, 23 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 MEXC live order book, 4 min ago	1.05 bp	8.2 bp −$8	39.9 bp −$399	157.4 bp −$15.7K	doesn't fit
Sell Polymarket Perps live order book, 23 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	0.2878	+0.010%	$1.3M	$1.2M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2872	−0.182%	$30K	$19K	3x	as long as short
KuCoin USELESSUSDTM	+0.0100%	4h	0.2879	+0.070%	$5.2M	$10.8M	12x	as long as short
Bitget USELESSUSDT	+0.0100%	4h	0.2877	−0.017%	$5.5M	$11.0M	20x	as long as short
Polymarket Perps USELESS-USDshort	+0.0100%	1h	0.2879	+0.063%	$28K	$281K	3x
SunX USELESS-USDT	+0.0100%	4h	0.2880	+0.076%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2876	−0.066%	$19K	$514K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2878	+0.035%	$657K	$1.2M	20x	as long as short
OKX USELESS-USDT-SWAP	+0.0108%	4h	0.2875	−0.087%	$10.0M	$73.3M	10x	as long as short
Aevo USELESS-PERP	+0.0168%	1h	0.2880	+0.097%	$10K	—	3x	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	+0.0242%	4h	0.2874	−0.108%	$7.2M	$8.9M	50x	as long as short
edgeX USELESSUSDC	+0.0347%	4h	0.2874	−0.138%	$21K	$199K	10x	as long as short
Aster USELESSUSDT	+0.0359%	4h	0.2873	−0.161%	$565K	$2.2M	10x	as long as short
MEXC USELESS_USDTlong	+0.0366%	4h	0.2878	long leg	$12.8M	$6.3M	50x
Extended USELESS-USD	+0.0368%	1h	0.2878	+0.032%	$276K	$1.7M	5x	as long as short
Binance USELESSUSDT	+0.0372%	4h	0.2876	−0.059%	$23.9M	$127.3M	50x	as long as short
ApeX Omni USELESSUSDT	+0.0479%	1h	0.2860	−0.608%	$53K	$700K	25x	as long as short
BingX USELESS-USDT	+0.0582%	4h	0.2877	−0.024%	—	$5.4M	—	as long as short
Variational Omni USELESS	+0.0643%	4h	0.2875	−0.080%	$1.2M	$1.9M	—	as long as short
Bybit USELESSUSDT	+0.0674%	4h	0.2877	−0.035%	$27.2M	$50.5M	13x	as long as short
BloFin USELESS-USDT	+0.0891%	4h	0.2877	−0.017%	$1.2M	$2.2M	12x	as long as short
Orderly PERP_USELESS_USDC	+0.0970%	4h	0.2879	+0.045%	$21K	$1.7M	10x	as long as short
Hyperliquid USELESS	+0.1174%	1h	0.2878	0.000%	$12.6M	$23.8M	3x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.3027	+5.182%	$5K	$11K	5.5x	as long as short