Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.4712%/8h= +516.0% APRpaid last 24h +0.525%

Price spread now: Injective against OKX+6.517%98s7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on OKX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$141 a day on $10k at the current rate, and Injective is 6.517% dearer against OKX than usual: you sell high and buy low: +$652 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 98 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	0.3065	0.0288	pay 0.0144% / 4h	49m 37s	$11.8M	$75.6M	10x
Short	Injective USELESS/USDC PERP	0.3264	0.5000	get 0.0625% / 1h	49m 37s	$6K	$10K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +6.517%Rate

Funding earned: $989.59
Price spread: +6.517% → 0.000%: $651.66
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $1,631.22
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: OKX: live order book, 2 min ago; Injective: no order-book sample. Net counts fees only.

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, 2 min ago	1.96 bp	15.4 bp −$15	63.1 bp −$631	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

USELESS on 24 exchanges

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
Pacifica USELESS	+0.0100%	1h	0.3063	−0.059%	$32K	$18K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.3066	+0.052%	—	$1.3M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.3048	−0.545%	$39K	$533K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.3052	−0.395%	$723K	$1.3M	20x	as long as short
Lighter USELESS	+0.0160%	1h	0.3061	−0.104%	$1.4M	$1.1M	3x	as long as short
Polymarket Perps USELESS-USD	+0.0190%	1h	0.3075	+0.339%	$29K	$295K	3x	as long as short
OKX USELESS-USDT-SWAPlong	+0.0288%	4h	0.3065	long leg	$11.8M	$75.6M	10x
Aevo USELESS-PERP	+0.0304%	1h	0.3073	+0.285%	$11K	—	3x	as long as short
KuCoin USELESSUSDTM	+0.0516%	4h	0.3060	−0.131%	$5.8M	$10.2M	10x	as long as short
Bitget USELESSUSDT	+0.0560%	4h	0.3062	−0.095%	$6.1M	$11.2M	20x	as long as short

Show all 24 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate USELESS_USDT	+0.0830%	4h	0.3056	−0.264%	$7.7M	$8.6M	50x	as long as short
edgeX USELESSUSDC	+0.0851%	4h	0.3092	+0.911%	$23K	$200K	10x	as long as short
Aster USELESSUSDT	+0.0892%	4h	0.3056	−0.287%	$661K	$2.4M	10x	as long as short
Extended USELESS-USD	+0.0904%	1h	0.3064	−0.002%	$300K	$1.9M	5x	as long as short
MEXC USELESS_USDT	+0.0906%	4h	0.3062	−0.085%	$18.1M	$7.3M	50x	as long as short
Binance USELESSUSDT	+0.0907%	4h	0.3063	−0.043%	$27.0M	$133.2M	50x	as long as short
Orderly PERP_USELESS_USDC	+0.1434%	4h	0.3068	+0.098%	$25K	$1.8M	10x	as long as short
ApeX Omni USELESSUSDT	+0.1446%	1h	0.3089	+0.799%	$58K	$700K	25x	as long as short
BingX USELESS-USDT	+0.1528%	4h	0.3066	+0.062%	—	$5.8M	—	as long as short
Variational Omni USELESS	+0.1609%	4h	0.3065	+0.021%	$1.3M	$1.9M	—	as long as short
Bybit USELESSUSDT	+0.1698%	4h	0.3064	−0.026%	$30.9M	$52.8M	13x	as long as short
Hyperliquid USELESS	+0.1723%	1h	0.3065	+0.010%	$14.6M	$21.6M	3x	as long as short
BloFin USELESS-USDT	+0.2121%	4h	0.3049	−0.489%	$1.4M	$2.5M	12x	as long as short
Injective USELESS/USDC PERPshort	+0.5000%	1h	0.3264	+6.517%	$6K	$10K	5.5x