USELESS

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0479%/8h= −52.5% APRnext payment −$2.40 per $10,000 · paid last 24h −0.118%

Price spread now: KuCoin against Bybit+0.072%7-day average −0.023% · you sell dearer than you buy

Net, funding: paid 7d − costs−$124as in the Funding arb table

Net, price: spread back to 7d avg − costs−$110as in the Price arb table

costs, in and out, $10k−$1201.200% of the position

Long on Bybit Short on KuCoin

What this pair did over the last

the charts below follow

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

Price spread, last 7 days−0.026%−$3 · spread now +0.072%, 7d avg −0.023%

Together, before fees−0.068%−$7 on $10k · with fees, hour by hour

The price spread pays, funding is against you. KuCoin is 0.095% dearer against Bybit than usual: you sell high and buy low (spread +0.072% now, against its 7-day average of −0.023%): +$10 on $10k if it goes back. Holding the pair costs −$14 a day in funding at the current rate, which eats that in about 16 hours. At the pace of the last 7 days (−0.043% in total) that is about 16 days.

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 -2.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.40 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	0.2788	0.0647	pay 0.0324% / 4h	1h 36m	$26.2M	$48.8M	13x
Short	KuCoin USELESSUSDTM	0.2790	0.0168	get 0.0084% / 4h	1h 36m	$5.1M	$10.6M	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.072%Rate

Funding earned: −$100.66
Price spread: +0.072% → −0.023%: $9.51
Slippage, 4 orders: −$97
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$211.16
Costs to cover: 1.200%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; KuCoin: live order book, 2 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, 2 min ago	0.18 bp	18.5 bp −$19	55.6 bp −$556	doesn't fit	doesn't fit
Sell KuCoin live order book, 2 min ago	6.64 bp	33.0 bp −$33	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	0.2788	−0.014%	$1.3M	$1.3M	3x	as long as short
Aster USELESSUSDT	+0.0100%	4h	0.2790	+0.079%	$546K	$2.2M	10x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2793	+0.183%	$30K	$19K	3x	as long as short
Bitget USELESSUSDT	+0.0100%	4h	0.2789	+0.022%	$5.4M	$10.4M	20x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2793	+0.169%	$27K	$260K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2794	+0.194%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2790	+0.057%	$19K	$516K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2787	−0.029%	$645K	$1.2M	20x	as long as short
ApeX Omni USELESSUSDT	+0.0143%	1h	0.2782	−0.222%	$49K	$700K	25x	as long as short
Aevo USELESS-PERP	+0.0152%	1h	0.2794	+0.199%	$10K	—	3x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin USELESSUSDTMshort	+0.0168%	4h	0.2790	+0.072%	$5.1M	$10.6M	12x
OKX USELESS-USDT-SWAP	+0.0172%	4h	0.2786	−0.079%	$9.5M	$69.2M	10x	as long as short
edgeX USELESSUSDC	+0.0262%	4h	0.2792	+0.140%	$21K	$196K	10x	as long as short
Hyperliquid USELESS	+0.0280%	1h	0.2788	0.000%	$12.1M	$23.4M	3x	as long as short
Binance USELESSUSDT	+0.0286%	4h	0.2787	−0.039%	$23.1M	$123.8M	50x	as long as short
Extended USELESS-USD	+0.0288%	1h	0.2790	+0.074%	$138K	$834K	5x	as long as short
MEXC USELESS_USDT	+0.0288%	4h	0.2791	+0.104%	$11.6M	$6.1M	50x	as long as short
Variational Omni USELESS	+0.0591%	4h	0.2788	−0.001%	$1.0M	$1.8M	—	as long as short
BingX USELESS-USDT	+0.0618%	4h	0.2789	+0.025%	—	$5.3M	—	as long as short
Gate USELESS_USDT	+0.0642%	4h	0.2785	−0.108%	$6.9M	$8.6M	50x	as long as short
Bybit USELESSUSDTlong	+0.0647%	4h	0.2788	long leg	$26.2M	$48.8M	13x
BloFin USELESS-USDT	+0.0887%	4h	0.2793	+0.165%	$1.2M	$2.1M	12x	as long as short
Orderly PERP_USELESS_USDC	+0.1055%	4h	0.2793	+0.179%	$21K	$1.4M	10x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2953	+5.903%	$5K	$11K	5.5x	as long as short