Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.175%

Price spread now: Aster against Phemex+0.013%7-day average −0.037% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$141as in the Price arb table

costs, in and out, $10k−$1461.457% of the position

Long on Phemex Short on Aster

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)+0.484%+$48 on $10k

Price spread, last 4 days (all we have)+0.175%+$18 · spread now +0.013%, 7d avg −0.037%

Together, before fees+0.659%+ Points / potential airdropAster: Stage 5 · farm board+$66 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Aster is 0.050% dearer against Phemex than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.037%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex USELESSUSDT	0.2660	0.0100	pay 0.0050% / 4h	2h 59m	$623K	$1.1M	20x
Short	Aster USELESSUSDT	0.2660	0.0100	get 0.0050% / 4h	2h 59m	$526K	$2.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Phemex. 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 PhemexbpFee AsterbpOrdersPrice spread, now +0.013%Rate

Funding earned: $0
Price spread: +0.013% → −0.037%: $4.99
Slippage, 4 orders: −$125.73
Fee Phemex: 6 bp × 2 orders: −$12
Fee Aster: 4 bp × 2 orders: −$8
Net: −$140.74
Costs to cover: 1.457%
Break-even: never at this rate

Slippage from Phemex: live order book, 3 min ago; Aster: live order book, 4 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 Phemex live order book, 3 min ago	11.29 bp	41.0 bp −$41	doesn't fit	doesn't fit	doesn't fit
Sell Aster live order book, 4 min ago	20.94 bp	26.1 bp −$26	124.4 bp −$1,244	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	0.2662	+0.079%	$1.2M	$1.2M	3x	as long as short
Aster USELESSUSDTshort	+0.0100%	4h	0.2660	+0.013%	$526K	$2.3M	10x
Pacifica USELESS	+0.0100%	1h	0.2657	−0.094%	$29K	$18K	3x	as long as short
Gate USELESS_USDT	+0.0100%	4h	0.2657	−0.120%	$6.6M	$8.7M	50x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2662	+0.060%	$26K	$240K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2662	+0.086%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2659	−0.023%	$18K	$519K	20x	as long as short
Phemex USELESSUSDTlong	+0.0100%	4h	0.2660	long leg	$623K	$1.1M	20x
Bitget USELESSUSDT	+0.0118%	4h	0.2661	+0.045%	$5.1M	$10.3M	20x	as long as short
OKX USELESS-USDT-SWAP	+0.0134%	4h	0.2663	+0.117%	$9.0M	$64.4M	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	+0.0152%	1h	0.2658	−0.074%	$10K	—	3x	as long as short
KuCoin USELESSUSDTM	+0.0164%	4h	0.2658	−0.064%	$4.8M	$10.7M	12x	as long as short
Hyperliquid USELESS	+0.0264%	1h	0.2663	+0.113%	$11.6M	$22.5M	3x	as long as short
Extended USELESS-USD	+0.0264%	1h	0.2660	+0.002%	$113K	$1.1M	5x	as long as short
Binance USELESSUSDT	+0.0265%	4h	0.2662	+0.064%	$22.2M	$121.4M	50x	as long as short
MEXC USELESS_USDT	+0.0270%	4h	0.2661	+0.053%	$10.7M	$6.1M	50x	as long as short
edgeX USELESSUSDC	+0.0271%	4h	0.2656	−0.137%	$20K	$197K	10x	as long as short
ApeX Omni USELESSUSDT	+0.0392%	1h	0.2653	−0.263%	$37K	$695K	25x	as long as short
Bybit USELESSUSDT	+0.0513%	4h	0.2660	+0.011%	$25.0M	$48.3M	13x	as long as short
BingX USELESS-USDT	+0.0546%	4h	0.2661	+0.038%	—	$5.3M	—	as long as short
Variational Omni USELESS	+0.0550%	4h	0.2654	−0.222%	$1.0M	$1.8M	—	as long as short
BloFin USELESS-USDT	+0.0732%	4h	0.2653	−0.252%	$1.1M	$2.0M	12x	as long as short
Orderly PERP_USELESS_USDC	+0.1262%	4h	0.2660	−0.015%	$20K	$1.2M	10x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2808	+5.560%	$5K	$11K	5.5x	as long as short