USELESS

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0572%/8h= −62.6% APRnext payment −$2.86 per $10,000 · paid last 24h −0.049%

Price spread now: Phemex against Binance−0.253%7-day average +0.018% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Binance Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.043%−$4 on $10k

Price spread, last 3 days (all we have)+0.156%+$16 · spread now −0.253%, 7d avg +0.018%

Together, before fees+0.113%+$11 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$17 a day on $10k at the current rate, and Phemex is 0.271% cheaper against Binance than usual: you would sell low and buy high (−$27 if the spread goes back to its 7-day average of +0.018%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.043% in total (about -2.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.86 per $10,000. 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	Binance USELESSUSDT	0.2924	0.0672	pay 0.0336% / 4h	2h 47m	$25.2M	$109.1M	50x
Short	Phemex USELESSUSDT	0.2916	0.0100	get 0.0050% / 4h	2h 47m	$579K	$1.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Binance. 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 BinancebpFee PhemexbpOrdersPrice spread, now −0.253%Rate

Funding earned: −$120.15
Price spread: −0.253% → +0.018%: −$27.07
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$169.21
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 11 min ago; Phemex: live order book, just now. Net counts fees only.

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 Binance live order book, 11 min ago	0.17 bp	12.7 bp −$13	64.1 bp −$641	doesn't fit	doesn't fit
Sell Phemex live order book, just now	47.96 bp	doesn't fit	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
ApeX Omni USELESSUSDT	+0.0032%	1h	0.2875	−1.666%	$41K	$697K	25x	as long as short
Lighter USELESS	+0.0096%	1h	0.2925	+0.041%	$1.3M	$1.1M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2919	−0.144%	$32K	$70K	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0100%	4h	0.2922	−0.058%	$10.3M	$65.3M	10x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2924	+0.027%	$29K	$135K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2928	+0.133%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2918	−0.205%	$20K	$376K	20x	as long as short
Phemex USELESSUSDTshort	+0.0100%	4h	0.2916	−0.253%	$579K	$1.3M	20x
KuCoin USELESSUSDTM	+0.0152%	4h	0.2920	−0.120%	$5.4M	$9.6M	12x	as long as short
Aevo USELESS-PERP	+0.0240%	1h	0.2924	+0.011%	$10K	—	3x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate USELESS_USDT	+0.0256%	4h	0.2918	−0.202%	$7.3M	$7.7M	50x	as long as short
Bitget USELESSUSDT	+0.0566%	4h	0.2927	+0.106%	$5.5M	$8.7M	20x	as long as short
edgeX USELESSUSDC	+0.0659%	4h	0.2901	−0.792%	$22K	$189K	10x	as long as short
Extended USELESS-USD	+0.0672%	1h	0.2925	+0.028%	$306K	$967K	5x	as long as short
MEXC USELESS_USDT	+0.0672%	4h	0.2926	+0.068%	$10.3M	$5.8M	50x	as long as short
Binance USELESSUSDTlong	+0.0672%	4h	0.2924	long leg	$25.2M	$109.1M	50x
Orderly PERP_USELESS_USDC	+0.1127%	4h	0.2925	+0.038%	$22K	$1.4M	10x	as long as short
Variational Omni USELESS	+0.1192%	4h	0.2881	−1.463%	$1.1M	$1.7M	—	as long as short
BingX USELESS-USDT	+0.1312%	4h	0.2923	−0.014%	—	$4.9M	—	as long as short
Aster USELESSUSDT	+0.1322%	4h	0.2917	−0.241%	$673K	$2.1M	10x	as long as short
Bybit USELESSUSDT	+0.1434%	4h	0.2925	+0.048%	$29.4M	$42.6M	13x	as long as short
Hyperliquid USELESS	+0.1554%	1h	0.2929	+0.188%	$15.0M	$19.6M	3x	as long as short
BloFin USELESS-USDT	+0.1804%	4h	0.2924	+0.010%	$1.3M	$2.0M	12x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.3092	+5.750%	$5K	$10K	5.5x	as long as short