USELESS

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0328%/8h= −36.0% APRnext payment −$1.64 per $10,000 · paid last 24h −0.033%

Price spread now: MEXC against Bybit+0.149%7-day average +0.034% · you sell dearer than you buy

Net, funding: paid 7d − costs−$65as in the Funding arb table

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$600.605% of the position

Long on Bybit Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.045%−$4 on $10k

Price spread, last 7 days−0.145%−$15 · spread now +0.149%, 7d avg +0.034%

Together, before fees−0.190%−$19 on $10k · with fees, hour by hour

The price spread pays, funding is against you. MEXC is 0.116% dearer against Bybit than usual: you sell high and buy low (spread +0.149% now, against its 7-day average of +0.034%): +$12 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 28 hours. At the pace of the last 7 days (−0.045% in total) that is about 18 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.045% in total (about -2.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.64 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	0.2748	0.0928	pay 0.0464% / 4h	1h 41m	$26.6M	$46.5M	13x
Short	MEXC USELESS_USDT	0.2752	0.0600	get 0.0300% / 4h	1h 41m	$10.8M	$6.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Bybit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 MEXCbpOrdersPrice spread, now +0.149%Rate

Funding earned: −$68.98
Price spread: +0.149% → +0.034%: $11.57
Slippage, 4 orders: −$41.47
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee MEXC: 4 bp × 2 orders: −$8
Net: −$117.88
Costs to cover: 0.605%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; MEXC: 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 Bybit live order book, 2 min ago	0.73 bp	17.8 bp −$18	71.6 bp −$716	doesn't fit	doesn't fit
Sell MEXC live order book, 6 min ago	1.46 bp	9.9 bp −$10	49.5 bp −$495	146.0 bp −$14.6K	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	0.2747	−0.025%	$1.2M	$1.2M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2748	+0.022%	$31K	$70K	3x	as long as short
Gate USELESS_USDT	+0.0100%	4h	0.2746	−0.080%	$6.9M	$8.5M	50x	as long as short
ApeX Omni USELESSUSDT	+0.0100%	1h	0.2741	−0.247%	$38K	$693K	25x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2753	+0.197%	$33K	$210K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2758	+0.382%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2753	+0.197%	$18K	$506K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2751	+0.113%	$604K	$1.1M	20x	as long as short
OKX USELESS-USDT-SWAP	+0.0137%	4h	0.2747	−0.015%	$9.7M	$64.6M	10x	as long as short
KuCoin USELESSUSDTM	+0.0212%	4h	0.2754	+0.229%	$5.1M	$10.4M	12x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo USELESS-PERP	+0.0232%	1h	0.2758	+0.366%	$10K	—	3x	as long as short
Bitget USELESSUSDT	+0.0528%	4h	0.2748	+0.018%	$5.2M	$9.9M	20x	as long as short
edgeX USELESSUSDC	+0.0567%	4h	0.2747	−0.032%	$21K	$196K	10x	as long as short
MEXC USELESS_USDTshort	+0.0600%	4h	0.2752	+0.149%	$10.8M	$6.0M	50x
Binance USELESSUSDT	+0.0605%	4h	0.2749	+0.055%	$23.3M	$118.0M	50x	as long as short
Extended USELESS-USD	+0.0608%	1h	0.2750	+0.086%	$292K	$1.1M	5x	as long as short
Hyperliquid USELESS	+0.0747%	1h	0.2750	+0.076%	$13.5M	$20.9M	3x	as long as short
BingX USELESS-USDT	+0.0864%	4h	0.2749	+0.029%	—	$5.1M	—	as long as short
Bybit USELESSUSDTlong	+0.0928%	4h	0.2748	long leg	$26.6M	$46.5M	13x
Variational Omni USELESS	+0.0956%	4h	0.2742	−0.205%	$1.2M	$1.7M	—	as long as short
Aster USELESSUSDT	+0.1070%	4h	0.2748	+0.015%	$586K	$2.3M	10x	as long as short
BloFin USELESS-USDT	+0.1183%	4h	0.2756	+0.291%	$1.2M	$2.0M	12x	as long as short
Orderly PERP_USELESS_USDC	+0.1356%	4h	0.2758	+0.386%	$21K	$1.3M	10x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2909	+5.877%	$5K	$9K	5.5x	as long as short