Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0516%/8h= +56.5% APRpaid last 24h +0.102%

Price spread now: MEXC against Polymarket Perps+0.022%7-day average −0.028% · you sell dearer than you buy

Net, funding: paid 7d − costs−$18as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$440.436% of the position

Long on Polymarket Perps Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.255%+$25 on $10k

Price spread, last 7 days+0.023%+$2 · spread now +0.022%, 7d avg −0.028%

Together, before fees+0.278%+$28 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$15 a day on $10k at the current rate, and MEXC is 0.050% dearer against Polymarket Perps than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.028%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.255% in total (about 13.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps USELESS-USD	0.2709	0.0100	pay 0.0013% / 1h	9m 10s	$39K	$217K	3x
Short	MEXC USELESS_USDT	0.2709	0.0616	get 0.0308% / 4h	1h 09m	$10.8M	$6.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.022%Rate

Funding earned: $108.36
Price spread: +0.022% → −0.028%: $4.99
Slippage, 4 orders: −$27.58
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee MEXC: 4 bp × 2 orders: −$8
Net: $69.76
Costs to cover: 0.436%
Break-even: 2.5 days

Slippage from Polymarket Perps: live order book, 53 min ago; MEXC: 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, 53 min ago	1.60 bp	8.4 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 4 min ago	0.18 bp	6.1 bp −$6	43.8 bp −$438	160.4 bp −$16.0K	598.9 bp −$299.4K

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	0.2707	−0.070%	$1.2M	$1.2M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2706	−0.094%	$30K	$70K	3x	as long as short
Gate USELESS_USDT	+0.0100%	4h	0.2705	−0.155%	$6.8M	$8.6M	50x	as long as short
Polymarket Perps USELESS-USDlong	+0.0100%	1h	0.2709	long leg	$39K	$217K	3x
SunX USELESS-USDT	+0.0100%	4h	0.2711	+0.085%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2707	−0.070%	$18K	$512K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2706	−0.118%	$599K	$1.1M	20x	as long as short
ApeX Omni USELESSUSDT	+0.0219%	1h	0.2714	+0.192%	$37K	$696K	25x	as long as short
Aevo USELESS-PERP	+0.0232%	1h	0.2713	+0.140%	$10K	—	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0234%	4h	0.2708	−0.033%	$9.5M	$63.7M	10x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin USELESSUSDTM	+0.0296%	4h	0.2709	+0.018%	$5.0M	$10.4M	12x	as long as short
Bitget USELESSUSDT	+0.0554%	4h	0.2708	−0.022%	$5.2M	$10.0M	20x	as long as short
edgeX USELESSUSDC	+0.0591%	4h	0.2715	+0.222%	$20K	$195K	10x	as long as short
MEXC USELESS_USDTshort	+0.0616%	4h	0.2709	+0.022%	$10.8M	$6.1M	50x
Extended USELESS-USD	+0.0632%	1h	0.2709	+0.025%	$285K	$1.1M	5x	as long as short
Hyperliquid USELESS	+0.0633%	1h	0.2710	+0.030%	$13.2M	$20.9M	3x	as long as short
Binance USELESSUSDT	+0.0636%	4h	0.2708	−0.037%	$23.0M	$118.5M	50x	as long as short
BingX USELESS-USDT	+0.0888%	4h	0.2709	0.000%	—	$5.2M	—	as long as short
Bybit USELESSUSDT	+0.0975%	4h	0.2705	−0.159%	$26.2M	$46.6M	13x	as long as short
Variational Omni USELESS	+0.0982%	4h	0.2712	+0.110%	$1.2M	$1.7M	—	as long as short
Aster USELESSUSDT	+0.1021%	4h	0.2706	−0.095%	$570K	$2.4M	10x	as long as short
BloFin USELESS-USDT	+0.1298%	4h	0.2707	−0.048%	$1.2M	$1.9M	12x	as long as short
Orderly PERP_USELESS_USDC	+0.1400%	4h	0.2712	+0.111%	$21K	$1.3M	10x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2877	+6.198%	$5K	$9K	5.5x	as long as short