Funding you earn now, next payment 00:00 UTC−0.1197%/8h= −131.1% APRnext payment −$5.98 per $10,000 · paid last 24h −0.111%
Price spread now: OKX against Bybit−0.115%7-day average −0.038% · you buy dearer than you sell
Net, funding: paid 7d − costs−$108as in the Funding arb table
Net, price: spread back to 7d avg − costs−$96as in the Price arb table
costs, in and out, $10k−$880.882% of the position
Funding, last 7 days−0.197%−$20 on $10k
+Price spread, last 7 days+0.106%+$11 · spread now −0.115%, 7d avg −0.038%
=Both sides work against this trade now: funding costs −$36 a day on $10k at the current rate, and OKX is 0.077% cheaper against Bybit than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.038%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.197% in total (about -10.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$5.98 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 | 0.2961 | 0.1297 | pay 0.0648% / 4h | 2h 35m | $29.8M | $42.5M | 13x |
| Short | OKX USELESS-USDT-SWAP | 0.2958 | 0.0100 | get 0.0050% / 4h | 2h 35m | $10.5M | $66.1M | 10x |
Bybit USELESSUSDT
OKX USELESS-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX against Bybit. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$251.36
- Price spread: −0.115% → −0.038%
- −$7.69
- Slippage, 4 orders
- −$67.18
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$347.23
- Costs to cover
- 0.882%
- Break-even
- never at this rate
Slippage from Bybit: live order book, 4 min ago; OKX: 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 Bybit live order book, 4 min ago | 2.40 bp | 27.0 bp −$27 | 125.9 bp −$1,259 | doesn't fit | doesn't fit |
| Sell OKX live order book, 4 min ago | 0.51 bp | 21.8 bp −$22 | 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 | 0.2952 | −0.321% | $1.4M | $1.1M | 3x | as long as short |
| Pacifica USELESS | +0.0100% | 1h | 0.2934 | −0.912% | $33K | $70K | 3x | as long as short |
| OKX USELESS-USDT-SWAPshort | +0.0100% | 4h | 0.2958 | −0.115% | $10.5M | $66.1M | 10x | |
| ApeX Omni USELESSUSDT | +0.0100% | 1h | 0.2929 | −1.091% | $42K | $698K | 25x | as long as short |
| Polymarket Perps USELESS-USD | +0.0100% | 1h | 0.2952 | −0.328% | $29K | $135K | 3x | as long as short |
| SunX USELESS-USDT | +0.0100% | 4h | 0.2952 | −0.311% | — | $1.4M | 10x | as long as short |
| HTX USELESS-USDT | +0.0100% | 4h | 0.2934 | −0.932% | $20K | $378K | 20x | as long as short |
| Phemex USELESSUSDT | +0.0100% | 4h | 0.2945 | −0.537% | $585K | $1.3M | 20x | as long as short |
| KuCoin USELESSUSDTM | +0.0174% | 4h | 0.2955 | −0.216% | $5.5M | $9.6M | 12x | as long as short |
| Aevo USELESS-PERP | +0.0240% | 1h | 0.2951 | −0.346% | $11K | — | 3x | as long as short |
Lighter USELESS
Pacifica USELESS
ApeX Omni USELESSUSDT
Polymarket Perps USELESS-USD
SunX USELESS-USDT
HTX USELESS-USDT
Phemex USELESSUSDT
KuCoin USELESSUSDTM
Aevo USELESS-PERPShow all 24 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate USELESS_USDT | +0.0354% | 4h | 0.2950 | −0.365% | $7.4M | $7.7M | 50x | as long as short |
| Bitget USELESSUSDT | +0.0534% | 4h | 0.2959 | −0.095% | $5.6M | $8.7M | 20x | as long as short |
| Extended USELESS-USD | +0.0672% | 1h | 0.2951 | −0.351% | $309K | $967K | 5x | as long as short |
| MEXC USELESS_USDT | +0.0674% | 4h | 0.2953 | −0.284% | $10.5M | $5.8M | 50x | as long as short |
| Binance USELESSUSDT | +0.0675% | 4h | 0.2958 | −0.124% | $25.5M | $109.0M | 50x | as long as short |
| edgeX USELESSUSDC | +0.0676% | 4h | 0.2927 | −1.174% | $22K | $189K | 10x | as long as short |
| Orderly PERP_USELESS_USDC | +0.1146% | 4h | 0.2951 | −0.338% | $22K | $1.4M | 10x | as long as short |
| BingX USELESS-USDT | +0.1232% | 4h | 0.2959 | −0.068% | — | $4.9M | — | as long as short |
| Variational Omni USELESS | +0.1256% | 4h | 0.2936 | −0.856% | $1.2M | $1.7M | — | as long as short |
| Bybit USELESSUSDTlong | +0.1297% | 4h | 0.2961 | long leg | $29.8M | $42.5M | 13x | |
| Aster USELESSUSDT | +0.1352% | 4h | 0.2945 | −0.558% | $679K | $2.1M | 10x | as long as short |
| Hyperliquid USELESS | +0.1543% | 1h | 0.2963 | +0.043% | $15.1M | $19.6M | 3x | as long as short |
| BloFin USELESS-USDT | +0.1673% | 4h | 0.2953 | −0.297% | $1.2M | $2.0M | 12x | as long as short |
| Injective USELESS/USDC PERP | +0.5000% | 1h | 0.3110 | +5.015% | $5K | $10K | 5.5x | as long as short |
Gate USELESS_USDT
Bitget USELESSUSDT
Extended USELESS-USD
MEXC USELESS_USDT
Binance USELESSUSDT
edgeX USELESSUSDC
Orderly PERP_USELESS_USDC
BingX USELESS-USDT
Variational Omni USELESS
Aster USELESSUSDT
Hyperliquid USELESS
BloFin USELESS-USDT
Injective USELESS/USDC PERP