USELESS

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0545%/8h= −59.7% APRnext payment −$2.73 per $10,000 · paid last 24h −0.213%

Price spread now: Gate against BloFin−0.371%63s7-day average −0.117% · you buy dearer than you sell

Net, funding: paid 7d − costs−$247as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1731.734% of the position

Long on BloFin Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.733%−$73 on $10k

Price spread, last 4 days (all we have)+0.596%+$60 · spread now −0.371%, 7d avg −0.117%

Together, before fees−0.137%−$14 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$16 a day on $10k at the current rate, and Gate is 0.254% cheaper against BloFin than usual: you would sell low and buy high (−$25 if the spread goes back to its 7-day average of −0.117%). Swap the legs. The two prices were read 63 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin USELESS-USDT	0.2617	0.0751	pay 0.0376% / 4h	4m 03s	$1.1M	$1.9M	12x
Short	Gate USELESS_USDT	0.2608	0.0206	get 0.0103% / 4h	4m 03s	$6.5M	$8.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against BloFin. 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 BloFinbpFee GatebpOrdersPrice spread, now −0.371%Rate

Funding earned: −$114.52
Price spread: −0.371% → −0.117%: −$25.36
Slippage, 4 orders: −$146.38
Fee BloFin: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$313.25
Costs to cover: 1.734%
Break-even: never at this rate

Slippage from BloFin: live order book, 4 min ago; Gate: live order book, 4 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 BloFin live order book, 4 min ago	5.34 bp	20.3 bp −$20	32.9 bp −$329	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	8.79 bp	65.7 bp −$66	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	0.2614	−0.145%	$1.2M	$1.2M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2614	−0.134%	$28K	$53K	3x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2616	−0.065%	$28K	$228K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2615	−0.107%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2607	−0.401%	$18K	$523K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2616	−0.031%	$589K	$1.0M	20x	as long as short
Aevo USELESS-PERP	+0.0184%	1h	0.2617	+0.002%	$9K	—	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0186%	4h	0.2614	−0.118%	$8.9M	$63.6M	10x	as long as short
Gate USELESS_USDTshort	+0.0206%	4h	0.2608	−0.371%	$6.5M	$8.8M	50x
KuCoin USELESSUSDTM	+0.0234%	4h	0.2613	−0.160%	$4.7M	$10.7M	12x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget USELESSUSDT	+0.0268%	4h	0.2612	−0.206%	$5.0M	$10.4M	20x	as long as short
Hyperliquid USELESS	+0.0392%	1h	0.2615	−0.073%	$11.5M	$22.7M	3x	as long as short
Binance USELESSUSDT	+0.0397%	4h	0.2617	−0.015%	$21.8M	$121.8M	50x	as long as short
Extended USELESS-USD	+0.0400%	1h	0.2613	−0.155%	$113K	$1.1M	5x	as long as short
edgeX USELESSUSDC	+0.0403%	4h	0.2625	+0.305%	$20K	$196K	10x	as long as short
MEXC USELESS_USDT	+0.0404%	4h	0.2617	−0.027%	$10.5M	$6.2M	50x	as long as short
ApeX Omni USELESSUSDT	+0.0482%	1h	0.2623	+0.218%	$33K	$694K	25x	as long as short
Aster USELESSUSDT	+0.0485%	4h	0.2615	−0.076%	$525K	$2.4M	10x	as long as short
BingX USELESS-USDT	+0.0492%	4h	0.2611	−0.237%	—	$5.3M	—	as long as short
Bybit USELESSUSDT	+0.0505%	4h	0.2614	−0.118%	$24.8M	$48.5M	13x	as long as short
Variational Omni USELESS	+0.0639%	4h	0.2624	+0.263%	$1.0M	$1.8M	—	as long as short
BloFin USELESS-USDTlong	+0.0751%	4h	0.2617	long leg	$1.1M	$1.9M	12x
Orderly PERP_USELESS_USDC	+0.1319%	4h	0.2617	−0.011%	$19K	$1.2M	10x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2772	+5.914%	$5K	$11K	5.5x	as long as short