Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0115%/8h= +12.6% APRpaid last 24h +0.029%

Price spread now: ApeX Omni against OKX+4.511%90s7-day average +0.043% · you sell dearer than you buy

Net, funding: paid 7d − costs−$62as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$680.680% of the position

Long on OKX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.060%+$6 on $10k

Price spread, last 4 days (all we have)−4.335%−$433 · spread now +4.511%, 7d avg +0.043%

Together, before fees−4.275%−$428 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and ApeX Omni is 4.468% dearer against OKX than usual: you sell high and buy low: +$447 more if the spread goes back to its 7-day average of +0.043%. The two prices were read 90 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX USELESS-USDT-SWAP	0.2589	0.0221	pay 0.0110% / 4h	1h 06m	$9.1M	$62.1M	10x
Short	ApeX Omni USELESSUSDT	0.2706	0.0336	get 0.0042% / 1h	6m 01s	$37K	$694K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against OKX. 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 OKXbpFee ApeX OmnibpOrdersPrice spread, now +4.511%Rate

Funding earned: $24.24
Price spread: +4.511% → +0.043%: $446.84
Slippage, 4 orders: −$48.03
Fee OKX: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: $403.05
Costs to cover: 0.680%
Break-even: from the start

Slippage from OKX: live order book, 3 min ago; ApeX Omni: live order book, 58 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 OKX live order book, 3 min ago	0.55 bp	19.7 bp −$20	doesn't fit	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 58 min ago	7.11 bp	15.4 bp −$15	109.9 bp −$1,099	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	0.2604	+0.583%	$1.2M	$1.2M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2620	+1.197%	$29K	$70K	3x	as long as short
Gate USELESS_USDT	+0.0100%	4h	0.2600	+0.402%	$6.5M	$8.7M	50x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2607	+0.695%	$36K	$219K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2607	+0.676%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2600	+0.421%	$17K	$514K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2602	+0.479%	$570K	$1.1M	20x	as long as short
OKX USELESS-USDT-SWAPlong	+0.0221%	4h	0.2589	long leg	$9.1M	$62.1M	10x
Aevo USELESS-PERP	+0.0240%	1h	0.2609	+0.773%	$9K	—	3x	as long as short
KuCoin USELESSUSDTM	+0.0298%	4h	0.2602	+0.498%	$4.7M	$10.4M	12x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni USELESSUSDTshort	+0.0336%	1h	0.2706	+4.511%	$37K	$694K	25x
Bitget USELESSUSDT	+0.0540%	4h	0.2604	+0.579%	$5.0M	$10.2M	20x	as long as short
Hyperliquid USELESS	+0.0573%	1h	0.2603	+0.541%	$12.2M	$21.8M	3x	as long as short
edgeX USELESSUSDC	+0.0598%	4h	0.2708	+4.591%	$20K	$195K	10x	as long as short
Extended USELESS-USD	+0.0608%	1h	0.2603	+0.537%	$279K	$1.1M	5x	as long as short
Binance USELESSUSDT	+0.0610%	4h	0.2597	+0.302%	$22.0M	$120.2M	50x	as long as short
MEXC USELESS_USDT	+0.0630%	4h	0.2605	+0.603%	$10.4M	$6.2M	50x	as long as short
BingX USELESS-USDT	+0.0926%	4h	0.2605	+0.603%	—	$5.2M	—	as long as short
Aster USELESSUSDT	+0.0939%	4h	0.2598	+0.327%	$515K	$2.4M	10x	as long as short
Bybit USELESSUSDT	+0.0949%	4h	0.2586	−0.124%	$24.9M	$47.8M	13x	as long as short
Variational Omni USELESS	+0.1010%	4h	0.2603	+0.525%	$1.1M	$1.8M	—	as long as short
BloFin USELESS-USDT	+0.1238%	4h	0.2621	+1.232%	$1.1M	$1.9M	12x	as long as short
Orderly PERP_USELESS_USDC	+0.1390%	4h	0.2606	+0.668%	$20K	$1.3M	10x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2877	+11.104%	$5K	$9K	5.5x	as long as short