USELESS

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0379%/8h= −41.5% APRnext payment −$1.90 per $10,000 · paid last 24h +0.130%

Price spread now: Orderly against Bybit+1.167%7-day average −0.006% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Bybit Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days+0.657%+$66 on $10k

Price spread, last 3 days (all we have)−1.772%−$177 · spread now +1.167%, 7d avg −0.006%

Together, before fees−1.115%−$111 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Orderly is 1.173% dearer against Bybit than usual: you sell high and buy low (spread +1.167% now, against its 7-day average of −0.006%): +$117 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 10 days. Mind the row above: over the last 7 days funding on this pair paid +0.657%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit USELESSUSDT	0.2912	0.1495	pay 0.0748% / 4h	2h 54m	$29.4M	$42.4M	13x
Short	Orderly PERP_USELESS_USDC	0.2946	0.1116	get 0.0558% / 4h	2h 54m	$22K	$1.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +1.167%Rate

Funding earned: −$79.63
Price spread: +1.167% → −0.006%: $117.3
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Orderly: 3 bp × 2 orders: −$6
Net: $20.67
Costs to cover: 0.170%
Break-even: from the start

Slippage unknown: Bybit: live order book, 4 min ago; Orderly: no order-book sample. Net counts fees only.

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	2.69 bp	19.1 bp −$19	81.5 bp −$815	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	0.2940	+0.965%	$1.4M	$1.1M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2942	+1.030%	$33K	$70K	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0100%	4h	0.2911	−0.055%	$10.4M	$65.0M	10x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2948	+1.233%	$28K	$130K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2946	+1.143%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2942	+1.027%	$20K	$375K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2937	+0.834%	$584K	$1.3M	20x	as long as short
KuCoin USELESSUSDTM	+0.0140%	4h	0.2917	+0.148%	$5.4M	$9.5M	12x	as long as short
Aevo USELESS-PERP	+0.0256%	1h	0.2949	+1.255%	$11K	—	3x	as long as short
Gate USELESS_USDT	+0.0292%	4h	0.2918	+0.206%	$7.3M	$7.6M	50x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni USELESSUSDT	+0.0328%	1h	0.2971	+2.016%	$42K	$698K	25x	as long as short
Bitget USELESSUSDT	+0.0576%	4h	0.2909	−0.120%	$5.5M	$8.7M	20x	as long as short
edgeX USELESSUSDC	+0.0690%	4h	0.2980	+2.340%	$22K	$188K	10x	as long as short
Binance USELESSUSDT	+0.0693%	4h	0.2921	+0.305%	$25.4M	$108.6M	50x	as long as short
Extended USELESS-USD	+0.0696%	1h	0.2933	+0.717%	$310K	$967K	5x	as long as short
MEXC USELESS_USDT	+0.0698%	4h	0.2924	+0.409%	$21.6M	$5.7M	50x	as long as short
Orderly PERP_USELESS_USDCshort	+0.1116%	4h	0.2946	+1.167%	$22K	$1.4M	10x
Variational Omni USELESS	+0.1195%	4h	0.2985	+2.510%	$1.2M	$1.7M	—	as long as short
Aster USELESSUSDT	+0.1377%	4h	0.2936	+0.813%	$683K	$2.1M	10x	as long as short
BingX USELESS-USDT	+0.1486%	4h	0.2919	+0.230%	—	$4.9M	—	as long as short
Hyperliquid USELESS	+0.1491%	1h	0.2918	+0.189%	$14.9M	$19.5M	3x	as long as short
Bybit USELESSUSDTlong	+0.1495%	4h	0.2912	long leg	$29.4M	$42.4M	13x
BloFin USELESS-USDT	+0.2076%	4h	0.2945	+1.119%	$1.3M	$2.0M	12x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.3116	+6.984%	$5K	$10K	5.5x	as long as short