Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0144%/8h= +15.8% APRpaid last 24h +0.012%

Price spread now: KuCoin against Polymarket Perps−0.227%49s7-day average −0.081% · you buy dearer than you sell

Net, funding: paid 7d − costs−$212as 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−$2412.413% of the position

Long on Polymarket Perps Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.293%+$29 on $10k

Price spread, last 7 days+0.355%+$36 · spread now −0.227%, 7d avg −0.081%

Together, before fees+0.648%+$65 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.145% cheaper against Polymarket Perps than usual: you would sell low and buy high (spread −0.227% now, against its 7-day average of −0.081%). If the spread goes back, that is −$15 on $10k: about 3.4 days of funding at the current rate (+$4 a day). The two prices were read 49 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	0.2605	0.0100	pay 0.0013% / 1h	14m 45s	$29K	$226K	3x
Short	KuCoin USELESSUSDTM	0.2599	0.0244	get 0.0122% / 4h	14m 45s	$4.7M	$10.7M	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.227%Rate

Funding earned: $30.24
Price spread: −0.227% → −0.081%: −$14.53
Slippage, 4 orders: −$221.31
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$225.61
Costs to cover: 2.413%
Break-even: 59.2 days

Slippage from Polymarket Perps: live order book, 42 min ago; KuCoin: 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 Polymarket Perps live order book, 42 min ago	6.65 bp	76.2 bp −$76	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 4 min ago	8.07 bp	49.1 bp −$49	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	0.2597	−0.303%	$1.2M	$1.2M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2598	−0.277%	$28K	$66K	3x	as long as short
Polymarket Perps USELESS-USDlong	+0.0100%	1h	0.2605	long leg	$29K	$226K	3x
SunX USELESS-USDT	+0.0100%	4h	0.2610	+0.203%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2596	−0.357%	$18K	$523K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2595	−0.372%	$580K	$1.0M	20x	as long as short
Aevo USELESS-PERP	+0.0192%	1h	0.2601	−0.146%	$9K	—	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0203%	4h	0.2599	−0.230%	$8.9M	$63.2M	10x	as long as short
Hyperliquid USELESS	+0.0213%	1h	0.2603	−0.072%	$11.4M	$22.7M	3x	as long as short
Gate USELESS_USDT	+0.0236%	4h	0.2599	−0.238%	$6.5M	$8.8M	50x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin USELESSUSDTMshort	+0.0244%	4h	0.2599	−0.227%	$4.7M	$10.7M	12x
Bitget USELESSUSDT	+0.0294%	4h	0.2600	−0.200%	$4.9M	$10.4M	20x	as long as short
edgeX USELESSUSDC	+0.0416%	4h	0.2606	+0.045%	$19K	$197K	10x	as long as short
ApeX Omni USELESSUSDT	+0.0424%	1h	0.2603	−0.069%	$33K	$694K	25x	as long as short
Binance USELESSUSDT	+0.0425%	4h	0.2600	−0.200%	$21.6M	$121.8M	50x	as long as short
MEXC USELESS_USDT	+0.0430%	4h	0.2601	−0.138%	$10.5M	$6.2M	50x	as long as short
Extended USELESS-USD	+0.0432%	1h	0.2599	−0.211%	$113K	$1.2M	5x	as long as short
BingX USELESS-USDT	+0.0480%	4h	0.2600	−0.203%	—	$5.3M	—	as long as short
Aster USELESSUSDT	+0.0481%	4h	0.2600	−0.183%	$518K	$2.4M	10x	as long as short
Bybit USELESSUSDT	+0.0517%	4h	0.2597	−0.288%	$24.6M	$48.3M	13x	as long as short
Variational Omni USELESS	+0.0639%	4h	0.2602	−0.096%	$1.0M	$1.8M	—	as long as short
BloFin USELESS-USDT	+0.0740%	4h	0.2596	−0.338%	$1.1M	$1.9M	12x	as long as short
Orderly PERP_USELESS_USDC	+0.1320%	4h	0.2599	−0.207%	$19K	$1.2M	10x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2757	+5.832%	$5K	$11K	5.5x	as long as short