Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.011%

Price spread now: Polymarket Perps against SunX+0.059%7-day average −0.038% · you sell dearer than you buy

Net, funding: paid 7d − costs−$292as in the Funding arb table

Net, price: spread back to 7d avg − costs−$278as in the Price arb table

costs, in and out, $10k−$2882.876% of the position

Long on SunX Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.041%−$4 on $10k

Price spread, last 4 days (all we have)+0.589%+$59 · spread now +0.059%, 7d avg −0.038%

Together, before fees+0.547%+$55 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: Polymarket Perps is 0.096% dearer against SunX than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of −0.038%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX USELESS-USDT	0.2558	0.0100	pay 0.0050% / 4h	43m 40s	—	$1.4M	10x
Short	Polymarket Perps USELESS-USD	0.2559	0.0100	get 0.0013% / 1h	43m 40s	$35K	$219K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.059%Rate

Funding earned: $0
Price spread: +0.059% → −0.038%: $9.64
Slippage, 4 orders: −$271.64
Fee SunX: 4 bp × 2 orders: −$8
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$278.01
Costs to cover: 2.876%
Break-even: never at this rate

Slippage from SunX: live order book, 11 min ago; Polymarket Perps: live order book, 13 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, 11 min ago	46.43 bp	64.8 bp −$65	doesn't fit	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 13 min ago	6.65 bp	81.3 bp −$81	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	0.2545	−0.493%	$1.2M	$1.2M	3x	as long as short
Hyperliquid USELESS	+0.0100%	1h	0.2552	−0.210%	$11.5M	$22.7M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2550	−0.278%	$28K	$70K	3x	as long as short
Gate USELESS_USDT	+0.0100%	4h	0.2540	−0.669%	$6.4M	$8.7M	50x	as long as short
Polymarket Perps USELESS-USDshort	+0.0100%	1h	0.2559	+0.059%	$35K	$219K	3x
SunX USELESS-USDTlong	+0.0100%	4h	0.2558	long leg	—	$1.4M	10x
HTX USELESS-USDT	+0.0100%	4h	0.2553	−0.168%	$17K	$519K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2553	−0.164%	$564K	$1.1M	20x	as long as short
Aevo USELESS-PERP	+0.0200%	1h	0.2554	−0.145%	$9K	—	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0216%	4h	0.2546	−0.465%	$8.9M	$62.8M	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	+0.0236%	4h	0.2553	−0.176%	$4.6M	$10.6M	12x	as long as short
ApeX Omni USELESSUSDT	+0.0411%	1h	0.2545	−0.493%	$32K	$699K	25x	as long as short
Bitget USELESSUSDT	+0.0412%	4h	0.2543	−0.571%	$4.9M	$10.5M	20x	as long as short
MEXC USELESS_USDT	+0.0500%	4h	0.2547	−0.399%	$10.2M	$6.2M	50x	as long as short
Extended USELESS-USD	+0.0504%	1h	0.2545	−0.495%	$112K	$1.2M	5x	as long as short
Binance USELESSUSDT	+0.0507%	4h	0.2549	−0.350%	$21.2M	$123.4M	50x	as long as short
edgeX USELESSUSDC	+0.0511%	4h	0.2542	−0.623%	$19K	$197K	10x	as long as short
Aster USELESSUSDT	+0.0607%	4h	0.2552	−0.216%	$505K	$2.4M	10x	as long as short
BingX USELESS-USDT	+0.0646%	4h	0.2545	−0.477%	—	$5.3M	—	as long as short
Bybit USELESSUSDT	+0.0664%	4h	0.2544	−0.532%	$24.4M	$48.8M	13x	as long as short
Variational Omni USELESS	+0.0843%	4h	0.2536	−0.863%	$1.0M	$1.8M	—	as long as short
BloFin USELESS-USDT	+0.0925%	4h	0.2554	−0.129%	$1.1M	$1.9M	12x	as long as short
Orderly PERP_USELESS_USDC	+0.1323%	4h	0.2558	0.000%	$19K	$1.3M	10x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2703	+5.697%	$5K	$11K	5.5x	as long as short