USELESS

Alert

Spread before costs (cost unknown: a leg has no order-book sample)+0.046%

7d average−0.003%if it closes, per $10,000$5funding while held, a day+$24.11

Long on Polymarket Perps Short on Orderly

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps USELESS-USD	0.2837	0.0100	pay 0.0013% / 1h	41m 13s	$27K	$119K	3x
Short	Orderly PERP_USELESS_USDC	0.2838	0.0904	get 0.0452% / 4h	1h 41m	$22K	$1.4M	10x

Price spread history

latest

Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Position, each leg$Hold forhoursFee Polymarket PerpsbpFee OrderlybpOrdersClose when spread is

Spread captured: $4.58
Funding while held: $24.11
Slippage, 4 orders: no order book: not counted
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Orderly: 3 bp × 2 orders: −$6
Net: $14.69
Spread needed to break even: 0.140%

Slippage unknown: Polymarket Perps: live order book, 63 min ago; Orderly: no order-book sample. Net counts fees only.

Cost of waiting

funding view

Funding /8h: +0.0804%
Per $10,000 a day: +$24.11
Average in range /8h: —

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, 63 min ago	3.28 bp	13.1 bp −$13	doesn't fit	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

USELESS price on every exchange

against the cheapest. Click to use as the short leg.

USELESS on 24 venues

cheapest first. Swap a leg.

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
HTX USELESS-USDT	−0.599%	+0.0100%	4h	$20K	$337K	20x	as long as short
Bybit USELESSUSDT	−0.141%	+0.0348%	4h	$27.7M	$37.3M	13x	as long as short
OKX USELESS-USDT-SWAP	−0.130%	+0.0100%	4h	$9.7M	$57.4M	10x	as long as short
KuCoin USELESSUSDTM	−0.088%	+0.0100%	4h	$5.1M	$7.9M	12x	as long as short
Binance USELESSUSDT	−0.061%	+0.0380%	4h	$24.1M	$93.6M	50x	as long as short
Pacifica USELESS	−0.040%	+0.0100%	1h	$32K	$76K	3x	as long as short
Lighter USELESS	−0.035%	+0.0096%	1h	$1.3M	$944K	3x	as long as short
BloFin USELESS-USDT	−0.035%	+0.0608%	4h	$1.2M	$1.7M	12x	as long as short
Bitget USELESSUSDT	−0.032%	+0.0162%	4h	$5.4M	$7.1M	20x	as long as short
Phemex USELESSUSDT	−0.021%	+0.0100%	4h	$518K	$1.2M	20x	as long as short

Show all 24 venues

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
MEXC USELESS_USDT	−0.007%	+0.0380%	4h	$18.8M	$4.9M	50x	as long as short
Extended USELESS-USD	−0.004%	+0.0384%	1h	$260K	$921K	5x	as long as short
Aster USELESSUSDT	−0.004%	+0.0857%	4h	$588K	$1.8M	10x	as long as short
Polymarket Perps USELESS-USDlong	0.000%	+0.0100%	1h	$27K	$119K	3x
Hyperliquid USELESS	+0.021%	+0.0700%	1h	$13.8M	$15.7M	3x	as long as short
SunX USELESS-USDT	+0.039%	+0.0100%	4h	—	$1.3M	10x	as long as short
BingX USELESS-USDT	+0.046%	+0.0386%	4h	—	$4.4M	—	as long as short
Orderly PERP_USELESS_USDCshort	+0.046%	+0.0904%	4h	$22K	$1.4M	10x
Aevo USELESS-PERP	+0.078%	+0.0176%	1h	$10K	—	3x	as long as short
Gate USELESS_USDT	+0.254%	+0.0100%	4h	$6.8M	$6.5M	50x	as long as short
Variational Omni USELESS	+0.265%	+0.0370%	4h	$1.2M	$1.5M	—	as long as short
ApeX Omni USELESSUSDT	+0.345%	+0.0100%	1h	$35K	$694K	25x	as long as short
edgeX USELESSUSDC	+0.501%	+0.0374%	4h	$22K	$185K	10x	as long as short
Injective USELESS/USDC PERP	+3.521%	−0.5000%	1h	$855	$14K	5.5x	as long as short