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 +0.018%

Price spread now: Gate against SunX−0.224%7-day average −0.142% · you buy dearer than you sell

Net, funding: paid 7d − costs−$250as in the Funding arb table

Net, price: spread back to 7d avg − costs−$265as in the Price arb table

costs, in and out, $10k−$2572.571% of the position

Long on SunX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.071%+$7 on $10k

Price spread, last 4 days (all we have)+0.417%+$42 · spread now −0.224%, 7d avg −0.142%

Together, before fees+0.488%+$49 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: Gate is 0.082% cheaper against SunX than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of −0.142%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX USELESS-USDT	0.2636	0.0100	pay 0.0050% / 4h	3h 10m	—	$1.4M	10x
Short	Gate USELESS_USDT	0.2630	0.0100	get 0.0050% / 4h	3h 10m	$6.6M	$8.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against SunX. 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 SunXbpFee GatebpOrdersPrice spread, now −0.224%Rate

Funding earned: $0
Price spread: −0.224% → −0.142%: −$8.18
Slippage, 4 orders: −$234.14
Fee SunX: 4 bp × 2 orders: −$8
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$265.32
Costs to cover: 2.571%
Break-even: never at this rate

Slippage from SunX: live order book, 4 min ago; Gate: live order book, 3 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 SunX live order book, 4 min ago	44.96 bp	63.3 bp −$63	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 3 min ago	7.02 bp	72.4 bp −$72	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	0.2632	−0.140%	$1.2M	$1.2M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2631	−0.197%	$28K	$18K	3x	as long as short
Gate USELESS_USDTshort	+0.0100%	4h	0.2630	−0.224%	$6.6M	$8.6M	50x
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2633	−0.083%	$25K	$238K	3x	as long as short
SunX USELESS-USDTlong	+0.0100%	4h	0.2636	long leg	—	$1.4M	10x
HTX USELESS-USDT	+0.0100%	4h	0.2618	−0.660%	$18K	$519K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2631	−0.178%	$612K	$1.1M	20x	as long as short
Aster USELESSUSDT	+0.0112%	4h	0.2632	−0.139%	$520K	$2.4M	10x	as long as short
Bitget USELESSUSDT	+0.0128%	4h	0.2631	−0.186%	$5.0M	$10.3M	20x	as long as short
OKX USELESS-USDT-SWAP	+0.0155%	4h	0.2635	−0.034%	$8.9M	$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
Aevo USELESS-PERP	+0.0160%	1h	0.2620	−0.590%	$9K	—	3x	as long as short
KuCoin USELESSUSDTM	+0.0180%	4h	0.2630	−0.228%	$4.8M	$10.7M	12x	as long as short
Binance USELESSUSDT	+0.0294%	4h	0.2633	−0.091%	$22.0M	$121.6M	50x	as long as short
Extended USELESS-USD	+0.0296%	1h	0.2633	−0.091%	$112K	$1.1M	5x	as long as short
MEXC USELESS_USDT	+0.0302%	4h	0.2633	−0.083%	$10.6M	$6.1M	50x	as long as short
edgeX USELESSUSDC	+0.0305%	4h	0.2640	+0.166%	$20K	$196K	10x	as long as short
Hyperliquid USELESS	+0.0359%	1h	0.2634	−0.049%	$11.5M	$22.6M	3x	as long as short
ApeX Omni USELESSUSDT	+0.0369%	1h	0.2634	−0.064%	$36K	$695K	25x	as long as short
Bybit USELESSUSDT	+0.0483%	4h	0.2631	−0.163%	$24.8M	$48.4M	13x	as long as short
Variational Omni USELESS	+0.0589%	4h	0.2624	−0.445%	$1.0M	$1.8M	—	as long as short
BingX USELESS-USDT	+0.0594%	4h	0.2634	−0.049%	—	$5.3M	—	as long as short
BloFin USELESS-USDT	+0.0794%	4h	0.2626	−0.357%	$1.1M	$1.9M	12x	as long as short
Orderly PERP_USELESS_USDC	+0.1267%	4h	0.2634	−0.057%	$20K	$1.2M	10x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2792	+5.945%	$5K	$11K	5.5x	as long as short