USELESS

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0556%/8h= +60.9% APRnext payment +$2.78 per $10,000 · paid last 24h +0.015%

Price spread now: Bybit against edgeX+0.308%81s7-day average −0.054% · you sell dearer than you buy

Net, funding: paid 7d − costs−$226as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$2302.297% of the position

Long on edgeX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.033%+$3 on $10k

Price spread, last 3 days (all we have)−0.393%−$39 · spread now +0.308%, 7d avg −0.054%

Together, before fees−0.360%+ Points / potential airdropedgeX: Active · farm board−$36 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$17 a day on $10k at the current rate, and Bybit is 0.362% dearer against edgeX than usual: you sell high and buy low: +$36 more if the spread goes back to its 7-day average of −0.054%. The two prices were read 81 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.033% in total (about 1.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$2.78 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	edgeX USELESSUSDC	0.2813	0.0506	pay 0.0253% / 4h	34m 14s	$21K	$192K	10x
Short	Bybit USELESSUSDT	0.2822	0.1062	get 0.0531% / 4h	34m 14s	$27.8M	$45.7M	13x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against edgeX. 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 edgeXbpFee BybitbpOrdersPrice spread, now +0.308%Rate

Funding earned: $116.82
Price spread: +0.308% → −0.054%: $36.16
Slippage, 4 orders: −$209.7
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$76.71
Costs to cover: 2.297%
Break-even: 11.6 days

Slippage from edgeX: live order book, 42 min ago; Bybit: 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 edgeX live order book, 42 min ago	1.28 bp	84.4 bp −$84	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	0.18 bp	19.4 bp −$19	56.7 bp −$567	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	0.2820	+0.247%	$1.3M	$1.1M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2814	+0.048%	$31K	$70K	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0100%	4h	0.2820	+0.265%	$9.9M	$66.5M	10x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2817	+0.162%	$34K	$156K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2818	+0.183%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2812	−0.044%	$18K	$495K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2817	+0.137%	$570K	$1.2M	20x	as long as short
ApeX Omni USELESSUSDT	+0.0194%	1h	0.2804	−0.314%	$39K	$700K	25x	as long as short
Aevo USELESS-PERP	+0.0208%	1h	0.2821	+0.282%	$10K	—	3x	as long as short
KuCoin USELESSUSDTM	+0.0288%	4h	0.2816	+0.102%	$5.2M	$10.0M	12x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget USELESSUSDT	+0.0346%	4h	0.2818	+0.201%	$5.3M	$9.4M	20x	as long as short
Gate USELESS_USDT	+0.0394%	4h	0.2814	+0.052%	$7.0M	$8.3M	50x	as long as short
edgeX USELESSUSDClong	+0.0506%	4h	0.2813	long leg	$21K	$192K	10x
MEXC USELESS_USDT	+0.0508%	4h	0.2819	+0.215%	$10.4M	$6.0M	50x	as long as short
Binance USELESSUSDT	+0.0510%	4h	0.2821	+0.296%	$23.7M	$116.0M	50x	as long as short
Extended USELESS-USD	+0.0512%	1h	0.2819	+0.214%	$297K	$966K	5x	as long as short
BingX USELESS-USDT	+0.1040%	4h	0.2821	+0.279%	—	$5.0M	—	as long as short
Bybit USELESSUSDTshort	+0.1062%	4h	0.2822	+0.308%	$27.8M	$45.7M	13x
Aster USELESSUSDT	+0.1107%	4h	0.2815	+0.067%	$647K	$2.3M	10x	as long as short
Variational Omni USELESS	+0.1218%	4h	0.2814	+0.056%	$1.2M	$1.8M	—	as long as short
Orderly PERP_USELESS_USDC	+0.1341%	4h	0.2820	+0.254%	$22K	$1.4M	10x	as long as short
BloFin USELESS-USDT	+0.1395%	4h	0.2815	+0.062%	$1.2M	$2.0M	12x	as long as short
Hyperliquid USELESS	+0.1526%	1h	0.2822	+0.315%	$14.0M	$21.0M	3x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2995	+6.472%	$5K	$9K	5.5x	as long as short