Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0179%/8h= +19.6% APRpaid last 24h +0.101%

Price spread now: Binance against Polymarket Perps−0.331%46s7-day average −0.028% · you buy dearer than you sell

Net, funding: paid 7d − costs−$139as 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−$1671.670% of the position

Long on Polymarket Perps Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.277%+$28 on $10k

Price spread, last 7 days+0.380%+$38 · spread now −0.331%, 7d avg −0.028%

Together, before fees+0.657%+$66 on $10k · with fees, hour by hour

Funding pays, the price is against you. Binance is 0.303% cheaper against Polymarket Perps than usual: you would sell low and buy high (spread −0.331% now, against its 7-day average of −0.028%). If the spread goes back, that is −$30 on $10k: about 5.6 days of funding at the current rate (+$5 a day). The two prices were read 46 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	Polymarket Perps USELESS-USD	0.2661	0.0100	pay 0.0013% / 1h	2m 37s	$26K	$240K	3x
Short	Binance USELESSUSDT	0.2652	0.0279	get 0.0139% / 4h	3h 02m	$22.2M	$121.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Polymarket Perps. 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 Polymarket PerpsbpFee BinancebpOrdersPrice spread, now −0.331%Rate

Funding earned: $37.57
Price spread: −0.331% → −0.028%: −$30.3
Slippage, 4 orders: −$149.01
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Binance: 5 bp × 2 orders: −$10
Net: −$159.74
Costs to cover: 1.670%
Break-even: 36.8 days

Slippage from Polymarket Perps: live order book, 49 min ago; Binance: live order book, 10 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 Polymarket Perps live order book, 49 min ago	4.37 bp	58.3 bp −$58	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 10 min ago	0.38 bp	15.6 bp −$16	61.0 bp −$610	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	0.2651	−0.365%	$1.2M	$1.2M	3x	as long as short
Aster USELESSUSDT	+0.0100%	4h	0.2653	−0.294%	$524K	$2.3M	10x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2652	−0.338%	$29K	$18K	3x	as long as short
Gate USELESS_USDT	+0.0100%	4h	0.2651	−0.376%	$6.6M	$8.7M	50x	as long as short
Polymarket Perps USELESS-USDlong	+0.0100%	1h	0.2661	long leg	$26K	$240K	3x
SunX USELESS-USDT	+0.0100%	4h	0.2660	−0.041%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2656	−0.158%	$18K	$519K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2655	−0.207%	$621K	$1.1M	20x	as long as short
Bitget USELESSUSDT	+0.0110%	4h	0.2650	−0.395%	$5.0M	$10.3M	20x	as long as short
OKX USELESS-USDT-SWAP	+0.0130%	4h	0.2650	−0.402%	$9.0M	$64.1M	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	0.2656	−0.156%	$10K	—	3x	as long as short
KuCoin USELESSUSDTM	+0.0160%	4h	0.2652	−0.319%	$4.8M	$10.7M	12x	as long as short
MEXC USELESS_USDT	+0.0278%	4h	0.2652	−0.319%	$10.7M	$6.1M	50x	as long as short
Binance USELESSUSDTshort	+0.0279%	4h	0.2652	−0.331%	$22.2M	$121.4M	50x
Extended USELESS-USD	+0.0280%	1h	0.2651	−0.351%	$113K	$1.1M	5x	as long as short
edgeX USELESSUSDC	+0.0282%	4h	0.2654	−0.253%	$20K	$197K	10x	as long as short
Hyperliquid USELESS	+0.0324%	1h	0.2653	−0.301%	$11.6M	$22.5M	3x	as long as short
ApeX Omni USELESSUSDT	+0.0403%	1h	0.2642	−0.699%	$37K	$696K	25x	as long as short
Bybit USELESSUSDT	+0.0519%	4h	0.2650	−0.383%	$25.0M	$48.3M	13x	as long as short
BingX USELESS-USDT	+0.0546%	4h	0.2651	−0.365%	—	$5.3M	—	as long as short
Variational Omni USELESS	+0.0585%	4h	0.2652	−0.341%	$1.0M	$1.8M	—	as long as short
BloFin USELESS-USDT	+0.0814%	4h	0.2656	−0.188%	$1.1M	$2.0M	12x	as long as short
Orderly PERP_USELESS_USDC	+0.1264%	4h	0.2660	−0.026%	$21K	$1.2M	10x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2808	+5.536%	$5K	$11K	5.5x	as long as short