USELESS

Leg	Exchange	Price	Fund. /8h	Each payment	Next in	OI	Vol 24h	Lev
LONG	GateUSELESS_USDT	0.1315	+0.0100	pay 0.0050% / 4h	2h 10m	$18.0M	$2.1M	50x	Long Gate
SHORT	PhemexUSELESSUSDT	0.1315	+0.0100	get 0.0050% / 4h	2h 10m	$1.6M	$1.0M	20x	Short Phemex

Price gap+0.030%

Funding gap0.0000% /8h

Funding is ≈ 0 and the gap is 0.049% under its 7d average: the price leg works against you, −$5 on $10k if it goes back.

If you open now and hold

on $10k a leg · figures of the last 7D, not a forecast

Funding+$250.0000% /8h now · paid +0.252% over the last 7D

Price−$5spread +0.030% now, avg +0.079% → −0.049% if it goes back

Costs−$1261.263% of $10k · taker + slippage, in and out

Result−$106−1.06%no points

Price and funding

1h · history

Entry / Exit

Price spread

Prices

Fundingper 8h

ENTRY / EXIT · 7D

Entry now—

Entry average—

Best entry—

Exit now—

Exit average—

Best exit—

Exit free—

PRICE SPREAD · 7D

Now+0.030%

Average—

Range—

Wider than now—

FUNDING SPREAD · 7D

Average /8h—

Highest—

Lowest—

Paid you—

Where the spread has been, last 7D

share of time at each level

Funding on every exchange

/8h

USELESS on 28 exchanges

lowest funding first

Before you open

1 ok · 4 to watch

Watch: Thin at this size31.1 / 36.9 bp
At $10k entering Phemex costs 36.9 bp, fee and slippage, 1.2× Gate’s.
Note: Margin at max leverage$200 + $500
Gate 50x, Phemex 20x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
OK: Same payment interval4h / 4h
Both legs pay at the same time.
Next 24h at the current rates, on $10k a leg: $0.00Long Gate: 6 payments, −$3.00; short Phemex: 6 payments, +$3.00.
Watch: Gap narrower than usual+0.030% vs +0.079%
Less room for the price leg to pay you. If it goes back to average, the short loses.
Watch: Short leg is thinner$1.6M vs $18.0M OI
Phemex sets your exit cost. Check its book before closing.
Note: No points program—
Neither exchange runs points right now.
Watch: KYCGate Yes · Phemex Yes
KYC before the futures account opens; unverified accounts can only withdraw and close positions.

Profit calculator

both legs, in and out

Position, each leg

Hold for

Orders

Price spread

Funding rate

Funding earned+0.0120%/8h × 21 periods+$25.24

Price spread+0.030% → +0.079% (7d avg)−$4.87

Slippage, 4 orderslive order books−$99.27

Fee Gate bp × 2 orders−$15.00

Fee Phemex bp × 2 orders−$12.00

Net · 7 days · $10k−$105.90

Costs to cover1.263%Break-even36.4 days

Slippage: Gate: live order book, 1 min ago; Phemex: live order book, 4 min ago

Cost to enter

taker + slippage from mid, one side

BUY · LONGGate3.4331.1 bp−$31149.0 bp−$1,490doesn’t fitdoesn’t fit

SELL · SHORTPhemex20.9336.9 bp−$37127.4 bp−$1,274doesn’t fitdoesn’t fit

Closing costs about the same again.

USELESS news

posts that mention USELESS, from every exchange

10-02 16:07	Lighter RH	Listing	New perp listing! You can now trade $USELESS on Lighter on Robinhood Chain at 3x leverage. @Lighter_xyz on X ↗
10-02 14:14	Lighter RH	Listing	new market USELESS ($USELESS) seen by our collector
10-01 10:34	Avantis	Listing	new market USELESS/USD ($USELESS) seen by our collector
09-25 05:25	Arcus	Listing	$USELESS perpetuals are now live on Arcus. Up to 10x leverage. @arcus_xyz on X ↗
09-24 17:18	Arcus	Listing	new market USELESS-USD ($USELESS) seen by our collector
09-22 14:31	Nado	Listing	new market USELESS-PERP ($USELESS) seen by our collector