USELESS

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0288%/8h= +31.6% APRnext payment +$1.44 per $10,000 · paid last 24h +0.124%

Price spread now: Bybit against KuCoin+0.047%7-day average +0.020% · you sell dearer than you buy

Net, funding: paid 7d − costs−$126as in the Funding arb table

Net, price: spread back to 7d avg − costs−$125as in the Price arb table

costs, in and out, $10k−$1281.276% of the position

Long on KuCoin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.014%+$1 on $10k

Price spread, last 7 days−0.143%−$14 · spread now +0.047%, 7d avg +0.020%

Together, before fees−0.129%−$13 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Bybit is 0.027% dearer against KuCoin than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.020%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.014% in total (about 0.8% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.44 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	KuCoin USELESSUSDTM	0.2565	0.0222	pay 0.0111% / 4h	28m 04s	$4.6M	$10.7M	12x
Short	Bybit USELESSUSDT	0.2566	0.0510	get 0.0255% / 4h	28m 04s	$24.5M	$48.5M	13x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against KuCoin. 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 KuCoinbpFee BybitbpOrdersPrice spread, now +0.047%Rate

Funding earned: $60.53
Price spread: +0.047% → +0.020%: $2.69
Slippage, 4 orders: −$104.62
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$64.41
Costs to cover: 1.276%
Break-even: 14.4 days

Slippage from KuCoin: live order book, 5 min ago; Bybit: live order book, 1 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 KuCoin live order book, 5 min ago	8.97 bp	49.3 bp −$49	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	0.97 bp	17.4 bp −$17	52.1 bp −$521	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	0.2564	−0.039%	$1.2M	$1.2M	3x	as long as short
Hyperliquid USELESS	+0.0100%	1h	0.2566	+0.047%	$11.4M	$22.9M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2568	+0.125%	$28K	$64K	3x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2565	+0.016%	$32K	$223K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2564	−0.019%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2560	−0.179%	$17K	$521K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2564	−0.035%	$574K	$1.0M	20x	as long as short
Aevo USELESS-PERP	+0.0200%	1h	0.2567	+0.076%	$9K	—	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0201%	4h	0.2567	+0.078%	$8.9M	$63.2M	10x	as long as short
KuCoin USELESSUSDTMlong	+0.0222%	4h	0.2565	long leg	$4.6M	$10.7M	12x

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate USELESS_USDT	+0.0238%	4h	0.2565	0.000%	$6.4M	$8.7M	50x	as long as short
Bitget USELESSUSDT	+0.0342%	4h	0.2565	+0.004%	$4.9M	$10.4M	20x	as long as short
ApeX Omni USELESSUSDT	+0.0420%	1h	0.2558	−0.265%	$33K	$693K	25x	as long as short
Binance USELESSUSDT	+0.0455%	4h	0.2566	+0.031%	$21.4M	$123.3M	50x	as long as short
Extended USELESS-USD	+0.0456%	1h	0.2566	+0.039%	$113K	$1.2M	5x	as long as short
MEXC USELESS_USDT	+0.0458%	4h	0.2567	+0.078%	$10.3M	$6.2M	50x	as long as short
edgeX USELESSUSDC	+0.0461%	4h	0.2566	+0.066%	$19K	$197K	10x	as long as short
Aster USELESSUSDT	+0.0510%	4h	0.2565	+0.027%	$508K	$2.4M	10x	as long as short
Bybit USELESSUSDTshort	+0.0510%	4h	0.2566	+0.047%	$24.5M	$48.5M	13x
BingX USELESS-USDT	+0.0532%	4h	0.2566	+0.035%	—	$5.3M	—	as long as short
Variational Omni USELESS	+0.0718%	4h	0.2564	−0.039%	$1.0M	$1.9M	—	as long as short
BloFin USELESS-USDT	+0.0779%	4h	0.2576	+0.437%	$1.1M	$1.9M	12x	as long as short
Orderly PERP_USELESS_USDC	+0.1318%	4h	0.2567	+0.105%	$19K	$1.2M	10x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2704	+5.435%	$5K	$11K	5.5x	as long as short