USELESS

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0262%/8h= −28.7% APRnext payment −$1.31 per $10,000 · paid last 24h +0.007%

Price spread now: OKX against Gate−0.004%7-day average +0.036% · you buy dearer than you sell

Net, funding: paid 7d − costs−$170as in the Funding arb table

Net, price: spread back to 7d avg − costs−$172as in the Price arb table

costs, in and out, $10k−$1681.680% of the position

Long on Gate Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.023%−$2 on $10k

Price spread, last 7 days−0.011%−$1 · spread now −0.004%, 7d avg +0.036%

Together, before fees−0.034%−$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and OKX is 0.040% cheaper against Gate than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.036%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.023% in total (about -1.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.31 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	0.2811	0.0362	pay 0.0181% / 4h	9m 38s	$7.0M	$8.3M	50x
Short	OKX USELESS-USDT-SWAP	0.2811	0.0100	get 0.0050% / 4h	9m 38s	$9.9M	$66.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.004%Rate

Funding earned: −$55.02
Price spread: −0.004% → +0.036%: −$4
Slippage, 4 orders: −$142.97
Fee Gate: 7.5 bp × 2 orders: −$15
Fee OKX: 5 bp × 2 orders: −$10
Net: −$226.99
Costs to cover: 1.680%
Break-even: never at this rate

Slippage from Gate: live order book, 4 min ago; OKX: 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 Gate live order book, 4 min ago	8.16 bp	54.1 bp −$54	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 4 min ago	0.71 bp	16.0 bp −$16	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	0.2817	+0.192%	$1.3M	$1.1M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2815	+0.146%	$32K	$70K	3x	as long as short
OKX USELESS-USDT-SWAPshort	+0.0100%	4h	0.2811	−0.004%	$9.9M	$66.4M	10x
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2811	+0.004%	$40K	$163K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2823	+0.402%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2815	+0.139%	$19K	$499K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2809	−0.060%	$574K	$1.2M	20x	as long as short
ApeX Omni USELESSUSDT	+0.0102%	1h	0.2812	+0.028%	$39K	$701K	25x	as long as short
Aevo USELESS-PERP	+0.0200%	1h	0.2817	+0.215%	$10K	—	3x	as long as short
KuCoin USELESSUSDTM	+0.0206%	4h	0.2811	+0.004%	$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	+0.0300%	4h	0.2813	+0.060%	$5.3M	$9.4M	20x	as long as short
Gate USELESS_USDTlong	+0.0362%	4h	0.2811	long leg	$7.0M	$8.3M	50x
Binance USELESSUSDT	+0.0496%	4h	0.2813	+0.075%	$23.7M	$116.5M	50x	as long as short
edgeX USELESSUSDC	+0.0496%	4h	0.2818	+0.259%	$21K	$192K	10x	as long as short
MEXC USELESS_USDT	+0.0502%	4h	0.2816	+0.185%	$10.4M	$6.0M	50x	as long as short
Extended USELESS-USD	+0.0504%	1h	0.2812	+0.019%	$297K	$966K	5x	as long as short
BingX USELESS-USDT	+0.0890%	4h	0.2812	+0.032%	—	$5.0M	—	as long as short
Bybit USELESSUSDT	+0.0953%	4h	0.2813	+0.071%	$27.6M	$45.8M	13x	as long as short
Variational Omni USELESS	+0.1029%	4h	0.2823	+0.421%	$1.2M	$1.8M	—	as long as short
Aster USELESSUSDT	+0.1065%	4h	0.2818	+0.235%	$647K	$2.3M	10x	as long as short
BloFin USELESS-USDT	+0.1235%	4h	0.2825	+0.480%	$1.2M	$2.0M	12x	as long as short
Orderly PERP_USELESS_USDC	+0.1316%	4h	0.2818	+0.228%	$22K	$1.4M	10x	as long as short
Hyperliquid USELESS	+0.1494%	1h	0.2822	+0.398%	$14.1M	$21.1M	3x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2971	+5.677%	$5K	$9K	5.5x	as long as short