USELESS

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0662%/8h= +72.4% APRnext payment +$3.31 per $10,000 · paid last 24h +0.118%

Price spread now: Bybit against Gate+0.142%7-day average +0.075% · you sell dearer than you buy

Net, funding: paid 7d − costs−$151as in the Funding arb table

Net, price: spread back to 7d avg − costs−$162as in the Price arb table

costs, in and out, $10k−$1681.684% of the position

Long on Gate Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.174%+$17 on $10k

Price spread, last 7 days−0.140%−$14 · spread now +0.142%, 7d avg +0.075%

Together, before fees+0.033%+$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$20 a day on $10k at the current rate, and Bybit is 0.068% dearer against Gate than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.075%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.174% in total (about 9.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$3.31 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	Gate USELESS_USDT	0.2807	0.0396	pay 0.0198% / 4h	37m 16s	$7.0M	$8.3M	50x
Short	Bybit USELESSUSDT	0.2811	0.1058	get 0.0529% / 4h	37m 16s	$27.7M	$45.6M	13x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Gate. 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 GatebpFee BybitbpOrdersPrice spread, now +0.142%Rate

Funding earned: $138.92
Price spread: +0.142% → +0.075%: $6.8
Slippage, 4 orders: −$142.42
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$22.7
Costs to cover: 1.684%
Break-even: 8.1 days

Slippage from Gate: live order book, 1 min ago; Bybit: 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 Gate live order book, 1 min ago	9.40 bp	74.0 bp −$74	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 2 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	0.2812	+0.157%	$1.3M	$1.1M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2818	+0.382%	$31K	$70K	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0100%	4h	0.2809	+0.050%	$9.8M	$66.1M	10x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2810	+0.110%	$33K	$156K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2811	+0.150%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2808	+0.021%	$18K	$495K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2806	−0.061%	$568K	$1.2M	20x	as long as short
Aevo USELESS-PERP	+0.0208%	1h	0.2814	+0.249%	$10K	—	3x	as long as short
ApeX Omni USELESSUSDT	+0.0263%	1h	0.2826	+0.670%	$39K	$700K	25x	as long as short
KuCoin USELESSUSDTM	+0.0298%	4h	0.2812	+0.157%	$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	+0.0364%	4h	0.2812	+0.167%	$5.3M	$9.3M	20x	as long as short
Gate USELESS_USDTlong	+0.0396%	4h	0.2807	long leg	$7.0M	$8.3M	50x
edgeX USELESSUSDC	+0.0518%	4h	0.2826	+0.667%	$21K	$192K	10x	as long as short
Extended USELESS-USD	+0.0520%	1h	0.2812	+0.177%	$297K	$966K	5x	as long as short
Binance USELESSUSDT	+0.0521%	4h	0.2813	+0.198%	$23.6M	$115.9M	50x	as long as short
MEXC USELESS_USDT	+0.0524%	4h	0.2813	+0.192%	$10.4M	$6.0M	50x	as long as short
BingX USELESS-USDT	+0.1040%	4h	0.2813	+0.196%	—	$5.0M	—	as long as short
Bybit USELESSUSDTshort	+0.1058%	4h	0.2811	+0.142%	$27.7M	$45.6M	13x
Aster USELESSUSDT	+0.1127%	4h	0.2814	+0.244%	$647K	$2.3M	10x	as long as short
Variational Omni USELESS	+0.1280%	4h	0.2823	+0.563%	$1.2M	$1.8M	—	as long as short
Orderly PERP_USELESS_USDC	+0.1336%	4h	0.2813	+0.210%	$22K	$1.4M	10x	as long as short
BloFin USELESS-USDT	+0.1401%	4h	0.2813	+0.221%	$1.2M	$2.0M	12x	as long as short
Hyperliquid USELESS	+0.1473%	1h	0.2816	+0.296%	$13.9M	$21.0M	3x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2995	+6.686%	$5K	$9K	5.5x	as long as short