Funding you earn now, next payment 04:00 UTC−0.0450%/8h= −49.2% APRnext payment −$2.25 per $10,000 · paid last 24h −0.042%
Price spread now: Phemex against edgeX−0.822%7-day average −0.041% · you buy dearer than you sell
Net, funding: paid 7d − costs−$314as in the Funding arb table
Net, price: spread back to 7d avg − costs−$387as in the Price arb table
costs, in and out, $10k−$3093.092% of the position
Funding, last 7 days−0.051%−$5 on $10k
+Price spread, last 3 days (all we have)+0.661%+$66 · spread now −0.822%, 7d avg −0.041%
=Together, before fees+0.609%+ Points / potential airdropedgeX: Active · farm board+$61 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and Phemex is 0.781% cheaper against edgeX than usual: you would sell low and buy high (−$78 if the spread goes back to its 7-day average of −0.041%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.051% in total (about -2.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.25 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 | 0.2821 | 0.0550 | pay 0.0275% / 4h | 2h 28m | $21K | $195K | 10x |
| Short | Phemex USELESSUSDT | 0.2798 | 0.0100 | get 0.0050% / 4h | 2h 28m | $601K | $1.2M | 20x |
edgeX USELESSUSDC
Phemex USELESSUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against edgeX. 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
- −$94.42
- Price spread: −0.822% → −0.041%
- −$78.09
- Slippage, 4 orders
- −$288.18
- Fee edgeX: 4.5 bp × 2 orders
- −$9
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$481.69
- Costs to cover
- 3.092%
- Break-even
- never at this rate
Slippage from edgeX: live order book, 38 min ago; Phemex: 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 edgeX live order book, 38 min ago | 0.86 bp | 33.8 bp −$34 | doesn't fit | doesn't fit | doesn't fit |
| Sell Phemex live order book, 4 min ago | 22.97 bp | 69.3 bp −$69 | doesn't fit | doesn't fit | doesn't fit |
USELESS on 23 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 | 0.2817 | −0.163% | $1.3M | $1.2M | 3x | as long as short |
| Pacifica USELESS | +0.0100% | 1h | 0.2818 | −0.116% | $31K | $70K | 3x | as long as short |
| OKX USELESS-USDT-SWAP | +0.0100% | 4h | 0.2823 | +0.075% | $9.9M | $66.7M | 10x | as long as short |
| SunX USELESS-USDT | +0.0100% | 4h | 0.2820 | −0.049% | — | $1.4M | 10x | as long as short |
| HTX USELESS-USDT | +0.0100% | 4h | 0.2814 | −0.262% | $18K | $519K | 20x | as long as short |
| Phemex USELESSUSDTshort | +0.0100% | 4h | 0.2798 | −0.822% | $601K | $1.2M | 20x | |
| Gate USELESS_USDT | +0.0106% | 4h | 0.2810 | −0.386% | $7.1M | $8.4M | 50x | as long as short |
| KuCoin USELESSUSDTM | +0.0134% | 4h | 0.2811 | −0.350% | $5.2M | $10.3M | 12x | as long as short |
| Aevo USELESS-PERP | +0.0216% | 1h | 0.2806 | −0.550% | $10K | — | 3x | as long as short |
| Bybit USELESSUSDT | +0.0516% | 4h | 0.2824 | +0.114% | $27.5M | $46.5M | 13x | as long as short |
Lighter USELESS
Pacifica USELESS
OKX USELESS-USDT-SWAP
SunX USELESS-USDT
HTX USELESS-USDT
Gate USELESS_USDT
KuCoin USELESSUSDTM
Aevo USELESS-PERP
Bybit USELESSUSDTShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Polymarket Perps USELESS-USD | +0.0535% | 1h | 0.2813 | −0.272% | $32K | $197K | 3x | as long as short |
| MEXC USELESS_USDT | +0.0540% | 4h | 0.2821 | 0.000% | $11.0M | $6.0M | 50x | as long as short |
| Binance USELESSUSDT | +0.0541% | 4h | 0.2819 | −0.085% | $23.9M | $117.7M | 50x | as long as short |
| Extended USELESS-USD | +0.0544% | 1h | 0.2813 | −0.274% | $300K | $1.2M | 5x | as long as short |
| edgeX USELESSUSDClong | +0.0550% | 4h | 0.2821 | long leg | $21K | $195K | 10x | |
| Bitget USELESSUSDT | +0.0570% | 4h | 0.2816 | −0.191% | $5.4M | $9.9M | 20x | as long as short |
| BingX USELESS-USDT | +0.0632% | 4h | 0.2820 | −0.024% | — | $5.1M | — | as long as short |
| ApeX Omni USELESSUSDT | +0.0827% | 1h | 0.2826 | +0.174% | $39K | $699K | 25x | as long as short |
| Variational Omni USELESS | +0.0851% | 4h | 0.2824 | +0.090% | $1.2M | $1.7M | — | as long as short |
| Aster USELESSUSDT | +0.1053% | 4h | 0.2814 | −0.257% | $646K | $2.3M | 10x | as long as short |
| Orderly PERP_USELESS_USDC | +0.1269% | 4h | 0.2809 | −0.439% | $22K | $1.4M | 10x | as long as short |
| Hyperliquid USELESS | +0.1322% | 1h | 0.2822 | +0.039% | $14.1M | $20.9M | 3x | as long as short |
| Injective USELESS/USDC PERP | +0.5000% | 1h | 0.2984 | +5.768% | $5K | $9K | 5.5x | as long as short |
Polymarket Perps USELESS-USD
MEXC USELESS_USDT
Binance USELESSUSDT
Extended USELESS-USD
Bitget USELESSUSDT
BingX USELESS-USDT
ApeX Omni USELESSUSDT
Variational Omni USELESS
Aster USELESSUSDT
Orderly PERP_USELESS_USDC
Hyperliquid USELESS
Injective USELESS/USDC PERP