USELESS

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0840%/8h= −91.9% APRnext payment −$4.20 per $10,000 · paid last 24h −0.113%

Price spread now: KuCoin against BingX−0.028%7-day average −0.027% · you buy dearer than you sell

Net, funding: paid 7d − costs−$155as in the Funding arb table

Net, price: spread back to 7d avg − costs−$154as in the Price arb table

costs, in and out, $10k−$1541.538% of the position

Long on BingX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.010%−$1 on $10k

Price spread, last 7 days+0.103%+$10 · spread now −0.028%, 7d avg −0.027%

Together, before fees+0.093%+$9 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.027%, so right now this pair is about funding alone: −$25 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.010% in total (about -0.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$4.20 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	BingX USELESS-USDT	0.2848	0.1140	pay 0.0570% / 4h	2h 02m	—	$4.9M	—
Short	KuCoin USELESSUSDTM	0.2847	0.0300	get 0.0150% / 4h	2h 02m	$5.3M	$9.7M	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against BingX. 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 BingXbpFee KuCoinbpOrdersPrice spread, now −0.028%Rate

Funding earned: −$176.32
Price spread: −0.028% → −0.027%: −$0.14
Slippage, 4 orders: −$131.78
Fee BingX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$330.24
Costs to cover: 1.538%
Break-even: never at this rate

Slippage from BingX: live order book, 3 min ago; KuCoin: live order book, 6 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 BingX live order book, 3 min ago	2.27 bp	16.6 bp −$17	63.6 bp −$636	369.8 bp −$37.0K	doesn't fit
Sell KuCoin live order book, 6 min ago	8.97 bp	48.5 bp −$49	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	0.2849	+0.060%	$1.3M	$1.1M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2850	+0.074%	$32K	$70K	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0100%	4h	0.2854	+0.207%	$10.1M	$64.4M	10x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2851	+0.105%	$28K	$140K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2861	+0.467%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2858	+0.379%	$20K	$388K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2837	−0.393%	$572K	$1.2M	20x	as long as short
Aevo USELESS-PERP	+0.0232%	1h	0.2855	+0.272%	$10K	—	3x	as long as short
KuCoin USELESSUSDTMshort	+0.0300%	4h	0.2847	−0.028%	$5.3M	$9.7M	12x
ApeX Omni USELESSUSDT	+0.0327%	1h	0.2850	+0.081%	$41K	$698K	25x	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	+0.0424%	4h	0.2846	−0.049%	$7.1M	$7.9M	50x	as long as short
Bitget USELESSUSDT	+0.0524%	4h	0.2853	+0.186%	$5.5M	$8.8M	20x	as long as short
edgeX USELESSUSDC	+0.0588%	4h	0.2856	+0.281%	$21K	$190K	10x	as long as short
Extended USELESS-USD	+0.0600%	1h	0.2848	−0.004%	$300K	$968K	5x	as long as short
MEXC USELESS_USDT	+0.0602%	4h	0.2853	+0.197%	$10.0M	$5.9M	50x	as long as short
Binance USELESSUSDT	+0.0604%	4h	0.2849	+0.053%	$24.3M	$110.8M	50x	as long as short
BingX USELESS-USDTlong	+0.1140%	4h	0.2848	long leg	—	$4.9M	—
Orderly PERP_USELESS_USDC	+0.1217%	4h	0.2862	+0.499%	$22K	$1.4M	10x	as long as short
Aster USELESSUSDT	+0.1291%	4h	0.2854	+0.233%	$661K	$2.2M	10x	as long as short
Variational Omni USELESS	+0.1388%	4h	0.2853	+0.194%	$1.2M	$1.8M	—	as long as short
Bybit USELESSUSDT	+0.1396%	4h	0.2853	+0.169%	$28.9M	$43.1M	13x	as long as short
Hyperliquid USELESS	+0.1517%	1h	0.2859	+0.404%	$14.7M	$19.8M	3x	as long as short
BloFin USELESS-USDT	+0.1696%	4h	0.2862	+0.516%	$1.2M	$2.0M	12x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.3006	+5.573%	$5K	$10K	5.5x	as long as short