Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0015%/8h= −1.6% APRpaid last 24h +0.007%

Price spread now: Polymarket Perps against OKX−0.176%7-day average +0.098% · you buy dearer than you sell

Net, funding: paid 7d − costs−$168as in the Funding arb table

Net, price: spread back to 7d avg − costs−$188as in the Price arb table

costs, in and out, $10k−$1601.602% of the position

Long on OKX Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.075%−$8 on $10k

Price spread, last 7 days+0.188%+$19 · spread now −0.176%, 7d avg +0.098%

Together, before fees+0.113%+$11 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Polymarket Perps is 0.274% cheaper against OKX than usual: you would sell low and buy high (−$27 if the spread goes back to its 7-day average of +0.098%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX USELESS-USDT-SWAP	0.2843	0.0115	pay 0.0057% / 4h	1h 05m	$9.7M	$71.1M	10x
Short	Polymarket Perps USELESS-USD	0.2838	0.0100	get 0.0013% / 1h	5m 06s	$28K	$267K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.176%Rate

Funding earned: −$3.06
Price spread: −0.176% → +0.098%: −$27.43
Slippage, 4 orders: −$142.19
Fee OKX: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$190.67
Costs to cover: 1.602%
Break-even: never at this rate

Slippage from OKX: live order book, 4 min ago; Polymarket Perps: live order book, 37 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, 4 min ago	0.18 bp	23.3 bp −$23	doesn't fit	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 37 min ago	1.44 bp	68.1 bp −$68	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	0.2839	−0.116%	$1.3M	$1.3M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2842	−0.043%	$30K	$19K	3x	as long as short
Bitget USELESSUSDT	+0.0100%	4h	0.2837	−0.211%	$5.5M	$10.5M	20x	as long as short
Polymarket Perps USELESS-USDshort	+0.0100%	1h	0.2838	−0.176%	$28K	$267K	3x
SunX USELESS-USDT	+0.0100%	4h	0.2842	−0.028%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2842	−0.039%	$20K	$515K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2842	−0.035%	$651K	$1.2M	20x	as long as short
KuCoin USELESSUSDTM	+0.0102%	4h	0.2839	−0.134%	$5.2M	$10.7M	12x	as long as short
OKX USELESS-USDT-SWAPlong	+0.0115%	4h	0.2843	long leg	$9.7M	$71.1M	10x
Aster USELESSUSDT	+0.0124%	4h	0.2841	−0.074%	$557K	$2.2M	10x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo USELESS-PERP	+0.0144%	1h	0.2833	−0.335%	$10K	—	3x	as long as short
Hyperliquid USELESS	+0.0189%	1h	0.2838	−0.176%	$12.4M	$23.4M	3x	as long as short
edgeX USELESSUSDC	+0.0258%	4h	0.2845	+0.063%	$21K	$197K	10x	as long as short
MEXC USELESS_USDT	+0.0266%	4h	0.2841	−0.077%	$11.9M	$6.2M	50x	as long as short
Binance USELESSUSDT	+0.0268%	4h	0.2841	−0.053%	$23.6M	$124.6M	50x	as long as short
Extended USELESS-USD	+0.0272%	1h	0.2839	−0.145%	$242K	$896K	5x	as long as short
Bybit USELESSUSDT	+0.0498%	4h	0.2843	+0.011%	$26.9M	$49.4M	13x	as long as short
BingX USELESS-USDT	+0.0508%	4h	0.2844	+0.046%	—	$5.3M	—	as long as short
ApeX Omni USELESSUSDT	+0.0529%	1h	0.2843	+0.007%	$52K	$701K	25x	as long as short
Variational Omni USELESS	+0.0561%	4h	0.2851	+0.271%	$1.2M	$1.9M	—	as long as short
Gate USELESS_USDT	+0.0658%	4h	0.2835	−0.264%	$7.1M	$8.7M	50x	as long as short
BloFin USELESS-USDT	+0.0738%	4h	0.2839	−0.141%	$1.2M	$2.1M	12x	as long as short
Orderly PERP_USELESS_USDC	+0.0950%	4h	0.2839	−0.137%	$22K	$1.5M	10x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.3013	+5.998%	$5K	$11K	5.5x	as long as short