USELESS

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0234%/8h= −25.6% APRnext payment −$1.17 per $10,000 · paid last 24h −0.103%

Price spread now: Gate against edgeX−0.881%7-day average −0.167% · you buy dearer than you sell

Net, funding: paid 7d − costs−$300as in the Funding arb table

Net, price: spread back to 7d avg − costs−$358as in the Price arb table

costs, in and out, $10k−$2862.864% of the position

Long on edgeX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.141%−$14 on $10k

Price spread, last 3 days (all we have)+0.721%+$72 · spread now −0.881%, 7d avg −0.167%

Together, before fees+0.580%+ Points / potential airdropedgeX: Active · farm board+$58 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Gate is 0.713% cheaper against edgeX than usual: you would sell low and buy high (−$71 if the spread goes back to its 7-day average of −0.167%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.141% in total (about -7.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.17 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	0.2953	0.0654	pay 0.0327% / 4h	2h 16m	$22K	$190K	10x
Short	Gate USELESS_USDT	0.2927	0.0420	get 0.0210% / 4h	2h 16m	$7.3M	$7.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.881%Rate

Funding earned: −$49.09
Price spread: −0.881% → −0.167%: −$71.31
Slippage, 4 orders: −$262.36
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$406.76
Costs to cover: 2.864%
Break-even: never at this rate

Slippage from edgeX: live order book, 5 min ago; Gate: 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 edgeX live order book, 5 min ago	1.53 bp	34.5 bp −$34	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	4.94 bp	41.1 bp −$41	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	0.2932	−0.715%	$1.4M	$1.1M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2931	−0.762%	$32K	$70K	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0100%	4h	0.2930	−0.765%	$10.5M	$65.5M	10x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2932	−0.708%	$29K	$137K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2930	−0.769%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2912	−1.405%	$20K	$379K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2922	−1.047%	$583K	$1.2M	20x	as long as short
Aevo USELESS-PERP	+0.0240%	1h	0.2932	−0.732%	$11K	—	3x	as long as short
KuCoin USELESSUSDTM	+0.0246%	4h	0.2928	−0.850%	$5.4M	$9.6M	12x	as long as short
Gate USELESS_USDTshort	+0.0420%	4h	0.2927	−0.881%	$7.3M	$7.8M	50x

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni USELESSUSDT	+0.0437%	1h	0.2937	−0.545%	$42K	$699K	25x	as long as short
Bitget USELESSUSDT	+0.0530%	4h	0.2931	−0.762%	$5.6M	$8.7M	20x	as long as short
edgeX USELESSUSDClong	+0.0654%	4h	0.2953	long leg	$22K	$190K	10x
MEXC USELESS_USDT	+0.0660%	4h	0.2932	−0.704%	$10.4M	$5.9M	50x	as long as short
Binance USELESSUSDT	+0.0661%	4h	0.2932	−0.709%	$25.3M	$109.3M	50x	as long as short
Extended USELESS-USD	+0.0664%	1h	0.2934	−0.664%	$309K	$968K	5x	as long as short
Orderly PERP_USELESS_USDC	+0.1187%	4h	0.2927	−0.870%	$22K	$1.4M	10x	as long as short
BingX USELESS-USDT	+0.1200%	4h	0.2933	−0.681%	—	$4.9M	—	as long as short
Bybit USELESSUSDT	+0.1274%	4h	0.2934	−0.657%	$29.6M	$42.6M	13x	as long as short
Variational Omni USELESS	+0.1314%	4h	0.2942	−0.376%	$1.2M	$1.7M	—	as long as short
Aster USELESSUSDT	+0.1395%	4h	0.2931	−0.755%	$677K	$2.1M	10x	as long as short
Hyperliquid USELESS	+0.1605%	1h	0.2936	−0.576%	$15.0M	$19.6M	3x	as long as short
BloFin USELESS-USDT	+0.1681%	4h	0.2928	−0.864%	$1.2M	$2.0M	12x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.3111	+5.337%	$5K	$10K	5.5x	as long as short