USELESS

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0496%/8h= −54.3% APRnext payment −$2.48 per $10,000 · paid last 24h −0.136%

Price spread now: Gate against Bybit−0.482%7-day average −0.076% · you buy dearer than you sell

Net, funding: paid 7d − costs−$236as in the Funding arb table

Net, price: spread back to 7d avg − costs−$256as in the Price arb table

costs, in and out, $10k−$2162.155% of the position

Long on Bybit Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.203%−$20 on $10k

Price spread, last 7 days+0.416%+$42 · spread now −0.482%, 7d avg −0.076%

Together, before fees+0.212%+$21 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$15 a day on $10k at the current rate, and Gate is 0.405% cheaper against Bybit than usual: you would sell low and buy high (−$41 if the spread goes back to its 7-day average of −0.076%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.203% in total (about -10.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.48 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	0.2844	0.0626	pay 0.0313% / 4h	2h 33m	$27.7M	$46.6M	13x
Short	Gate USELESS_USDT	0.2831	0.0130	get 0.0065% / 4h	2h 33m	$7.1M	$8.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.482%Rate

Funding earned: −$104.2
Price spread: −0.482% → −0.076%: −$40.53
Slippage, 4 orders: −$189.52
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$360.25
Costs to cover: 2.155%
Break-even: never at this rate

Slippage from Bybit: live order book, 5 min ago; Gate: live order book, 5 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, 5 min ago	0.35 bp	19.3 bp −$19	45.2 bp −$452	doesn't fit	doesn't fit
Sell Gate live order book, 5 min ago	11.77 bp	100.6 bp −$101	doesn't fit	doesn't fit	doesn't fit

USELESS on 23 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	0.2837	−0.274%	$1.3M	$1.2M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2839	−0.182%	$32K	$70K	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0100%	4h	0.2845	+0.014%	$10.0M	$67.4M	10x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2843	−0.067%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2836	−0.313%	$19K	$518K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2832	−0.450%	$605K	$1.2M	20x	as long as short
KuCoin USELESSUSDTM	+0.0122%	4h	0.2843	−0.053%	$5.2M	$10.3M	12x	as long as short
Gate USELESS_USDTshort	+0.0130%	4h	0.2831	−0.482%	$7.1M	$8.3M	50x
Aevo USELESS-PERP	+0.0216%	1h	0.2836	−0.286%	$10K	—	3x	as long as short
edgeX USELESSUSDC	+0.0527%	4h	0.2821	−0.808%	$21K	$194K	10x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended USELESS-USD	+0.0536%	1h	0.2838	−0.227%	$303K	$1.2M	5x	as long as short
MEXC USELESS_USDT	+0.0536%	4h	0.2842	−0.077%	$11.0M	$6.0M	50x	as long as short
Binance USELESSUSDT	+0.0552%	4h	0.2843	−0.032%	$24.1M	$117.8M	50x	as long as short
BingX USELESS-USDT	+0.0580%	4h	0.2844	−0.028%	—	$5.1M	—	as long as short
Bitget USELESSUSDT	+0.0582%	4h	0.2842	−0.074%	$5.4M	$9.9M	20x	as long as short
Polymarket Perps USELESS-USD	+0.0608%	1h	0.2843	−0.032%	$34K	$195K	3x	as long as short
Bybit USELESSUSDTlong	+0.0626%	4h	0.2844	long leg	$27.7M	$46.6M	13x
Variational Omni USELESS	+0.0890%	4h	0.2817	−0.952%	$1.2M	$1.7M	—	as long as short
ApeX Omni USELESSUSDT	+0.0893%	1h	0.2817	−0.963%	$39K	$700K	25x	as long as short
Aster USELESSUSDT	+0.1080%	4h	0.2842	−0.102%	$652K	$2.2M	10x	as long as short
Orderly PERP_USELESS_USDC	+0.1275%	4h	0.2843	−0.039%	$22K	$1.4M	10x	as long as short
Hyperliquid USELESS	+0.1334%	1h	0.2846	+0.049%	$14.2M	$20.9M	3x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2980	+4.764%	$5K	$9K	5.5x	as long as short