USELESS

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0843%/8h= −92.3% APRnext payment −$4.21 per $10,000 · paid last 24h −0.040%

Price spread now: Bitget against Bybit+0.047%7-day average +0.020% · you sell dearer than you buy

Net, funding: paid 7d − costs−$95as in the Funding arb table

Net, price: spread back to 7d avg − costs−$81as in the Price arb table

costs, in and out, $10k−$840.839% of the position

Long on Bybit Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.109%−$11 on $10k

Price spread, last 7 days+0.048%+$5 · spread now +0.047%, 7d avg +0.020%

Together, before fees−0.061%−$6 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.027% dearer against Bybit than usual: you sell high and buy low (spread +0.047% now, against its 7-day average of +0.020%): +$3 on $10k if it goes back. Holding the pair costs −$25 a day in funding at the current rate, which eats that in about 3 hours. At the pace of the last 7 days (−0.109% in total) that is about 41 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.109% in total (about -5.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$4.21 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	Bybit USELESSUSDT	0.2766	0.1283	pay 0.0641% / 4h	1h 00m	$27.5M	$45.2M	13x
Short	Bitget USELESSUSDT	0.2767	0.0440	get 0.0220% / 4h	1h 00m	$5.3M	$9.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Bybit. 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 BybitbpFee BitgetbpOrdersPrice spread, now +0.047%Rate

Funding earned: −$176.94
Price spread: +0.047% → +0.020%: $2.65
Slippage, 4 orders: −$60.89
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$258.18
Costs to cover: 0.839%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 min ago; Bitget: 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 Bybit live order book, 3 min ago	0.18 bp	16.3 bp −$16	37.5 bp −$375	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	2.37 bp	28.7 bp −$29	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	0.2760	−0.224%	$1.3M	$1.1M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2749	−0.611%	$30K	$70K	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0100%	4h	0.2767	+0.040%	$9.7M	$64.4M	10x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2750	−0.596%	$29K	$151K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2750	−0.600%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2749	−0.607%	$18K	$491K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2756	−0.376%	$555K	$1.2M	20x	as long as short
Aevo USELESS-PERP	+0.0200%	1h	0.2755	−0.404%	$10K	—	3x	as long as short
ApeX Omni USELESSUSDT	+0.0216%	1h	0.2731	−1.273%	$38K	$701K	25x	as long as short
KuCoin USELESSUSDTM	+0.0334%	4h	0.2765	−0.029%	$5.1M	$9.9M	12x	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	+0.0354%	4h	0.2765	−0.058%	$6.9M	$8.2M	50x	as long as short
Bitget USELESSUSDTshort	+0.0440%	4h	0.2767	+0.047%	$5.3M	$9.2M	20x
edgeX USELESSUSDC	+0.0475%	4h	0.2740	−0.945%	$20K	$192K	10x	as long as short
MEXC USELESS_USDT	+0.0492%	4h	0.2764	−0.061%	$10.1M	$6.0M	50x	as long as short
Binance USELESSUSDT	+0.0501%	4h	0.2769	+0.090%	$23.4M	$114.8M	50x	as long as short
Extended USELESS-USD	+0.0504%	1h	0.2767	+0.038%	$290K	$966K	5x	as long as short
Hyperliquid USELESS	+0.0895%	1h	0.2769	+0.105%	$13.6M	$20.8M	3x	as long as short
Aster USELESSUSDT	+0.1105%	4h	0.2767	+0.015%	$636K	$2.2M	10x	as long as short
BingX USELESS-USDT	+0.1254%	4h	0.2769	+0.094%	—	$5.0M	—	as long as short
Bybit USELESSUSDTlong	+0.1283%	4h	0.2766	long leg	$27.5M	$45.2M	13x
Orderly PERP_USELESS_USDC	+0.1305%	4h	0.2759	−0.249%	$21K	$1.4M	10x	as long as short
Variational Omni USELESS	+0.1473%	4h	0.2730	−1.315%	$1.1M	$1.7M	—	as long as short
BloFin USELESS-USDT	+0.1687%	4h	0.2763	−0.119%	$1.2M	$1.9M	12x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2894	+4.635%	$5K	$9K	5.5x	as long as short