Funding you earn now, next payment 22:00 UTC−0.3813%/8h= −417.6% APRpaid last 24h +1.416%
Price spread now: Bybit against Injective−7.722%108s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$114 a day on $10k at the current rate, and Bybit is 7.722% cheaper against Injective than usual: you would sell low and buy high (−$772 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 108 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Injective USELESS/USDC PERP | 0.3111 | 0.5000 | pay 0.0625% / 1h | 13m 33s | $5K | $10K | 5.5x |
| Short | Bybit USELESSUSDT | 0.2871 | 0.1187 | get 0.0593% / 4h | 2h 13m | $29.1M | $42.9M | 13x |
Injective USELESS/USDC PERP
Bybit USELESSUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Injective. 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
- −$800.79
- Price spread: −7.722% → 0.000%
- −$772.17
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$1,583.99
- Costs to cover
- 0.110%
- Break-even
- never at this rate
Slippage unknown: Injective: no order-book sample; Bybit: live order book, 5 min ago. Net counts fees only.
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 Injective no order-book sample | — | — | — | — | — |
| Sell Bybit live order book, 5 min ago | 1.53 bp | 19.2 bp −$19 | 74.5 bp −$745 | doesn't fit | doesn't fit |
Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | 0.2870 | −7.741% | $1.3M | $1.1M | 3x | as long as short |
| Pacifica USELESS | +0.0100% | 1h | 0.2872 | −7.680% | $32K | $70K | 3x | as long as short |
| OKX USELESS-USDT-SWAP | +0.0100% | 4h | 0.2870 | −7.735% | $10.3M | $64.4M | 10x | as long as short |
| Polymarket Perps USELESS-USD | +0.0100% | 1h | 0.2872 | −7.690% | $28K | $138K | 3x | as long as short |
| SunX USELESS-USDT | +0.0100% | 4h | 0.2883 | −7.307% | — | $1.4M | 10x | as long as short |
| HTX USELESS-USDT | +0.0100% | 4h | 0.2878 | −7.468% | $21K | $384K | 20x | as long as short |
| Phemex USELESSUSDT | +0.0100% | 4h | 0.2880 | −7.423% | $576K | $1.2M | 20x | as long as short |
| KuCoin USELESSUSDTM | +0.0232% | 4h | 0.2868 | −7.799% | $5.3M | $9.6M | 12x | as long as short |
| Aevo USELESS-PERP | +0.0240% | 1h | 0.2900 | −6.778% | $10K | — | 3x | as long as short |
| Gate USELESS_USDT | +0.0366% | 4h | 0.2865 | −7.889% | $7.1M | $7.8M | 50x | as long as short |
Lighter USELESS
Pacifica USELESS
OKX USELESS-USDT-SWAP
Polymarket Perps USELESS-USD
SunX USELESS-USDT
HTX USELESS-USDT
Phemex USELESSUSDT
KuCoin USELESSUSDTM
Aevo USELESS-PERP
Gate USELESS_USDTShow all 24 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| ApeX Omni USELESSUSDT | +0.0371% | 1h | 0.2918 | −6.195% | $41K | $700K | 25x | as long as short |
| Bitget USELESSUSDT | +0.0530% | 4h | 0.2871 | −7.719% | $5.5M | $8.8M | 20x | as long as short |
| Extended USELESS-USD | +0.0648% | 1h | 0.2869 | −7.775% | $303K | $968K | 5x | as long as short |
| MEXC USELESS_USDT | +0.0648% | 4h | 0.2870 | −7.725% | $10.1M | $5.9M | 50x | as long as short |
| Binance USELESSUSDT | +0.0649% | 4h | 0.2868 | −7.787% | $24.6M | $110.1M | 50x | as long as short |
| edgeX USELESSUSDC | +0.0650% | 4h | 0.2925 | −5.977% | $22K | $191K | 10x | as long as short |
| Orderly PERP_USELESS_USDC | +0.1184% | 4h | 0.2897 | −6.857% | $22K | $1.4M | 10x | as long as short |
| Bybit USELESSUSDTshort | +0.1187% | 4h | 0.2871 | −7.722% | $29.1M | $42.9M | 13x | |
| BingX USELESS-USDT | +0.1200% | 4h | 0.2870 | −7.725% | — | $4.9M | — | as long as short |
| Variational Omni USELESS | +0.1330% | 4h | 0.2930 | −5.824% | $1.2M | $1.7M | — | as long as short |
| Aster USELESSUSDT | +0.1361% | 4h | 0.2871 | −7.695% | $663K | $2.2M | 10x | as long as short |
| Hyperliquid USELESS | +0.1579% | 1h | 0.2876 | −7.559% | $14.7M | $19.7M | 3x | as long as short |
| BloFin USELESS-USDT | +0.1617% | 4h | 0.2927 | −5.909% | $1.2M | $2.0M | 12x | as long as short |
| Injective USELESS/USDC PERPlong | +0.5000% | 1h | 0.3111 | long leg | $5K | $10K | 5.5x |
ApeX Omni USELESSUSDT
Bitget USELESSUSDT
Extended USELESS-USD
MEXC USELESS_USDT
Binance USELESSUSDT
edgeX USELESSUSDC
Orderly PERP_USELESS_USDC
BingX USELESS-USDT
Variational Omni USELESS
Aster USELESSUSDT
Hyperliquid USELESS
BloFin USELESS-USDT