USELESS

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0234%/8h= −25.6% APRnext payment −$1.17 per $10,000 · paid last 24h +0.042%

Price spread now: Phemex against KuCoin−0.046%7-day average +0.059% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on KuCoin Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.091%−$9 on $10k

Price spread, last 3 days (all we have)+0.001%$0 · spread now −0.046%, 7d avg +0.059%

Together, before fees−0.089%−$9 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Phemex is 0.104% cheaper against KuCoin than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of +0.059%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.091% in total (about -4.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.17 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	0.2840	0.0334	pay 0.0167% / 4h	48m 40s	$5.2M	$9.9M	12x
Short	Phemex USELESSUSDT	0.2838	0.0100	get 0.0050% / 4h	48m 40s	$570K	$1.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.046%Rate

Funding earned: −$49.14
Price spread: −0.046% → +0.059%: −$10.43
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$83.57
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 10 min ago; Phemex: live order book, 4 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 KuCoin live order book, 10 min ago	8.29 bp	45.4 bp −$45	doesn't fit	doesn't fit	doesn't fit
Sell Phemex live order book, 4 min ago	38.10 bp	doesn't fit	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	0.2841	+0.039%	$1.3M	$1.1M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2840	+0.018%	$31K	$70K	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0100%	4h	0.2844	+0.144%	$9.9M	$66.7M	10x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2837	−0.088%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2849	+0.317%	$19K	$493K	20x	as long as short
Phemex USELESSUSDTshort	+0.0100%	4h	0.2838	−0.046%	$570K	$1.2M	20x
Polymarket Perps USELESS-USD	+0.0164%	1h	0.2849	+0.331%	$31K	$153K	3x	as long as short
Aevo USELESS-PERP	+0.0216%	1h	0.2842	+0.086%	$10K	—	3x	as long as short
KuCoin USELESSUSDTMlong	+0.0334%	4h	0.2840	long leg	$5.2M	$9.9M	12x
Bitget USELESSUSDT	+0.0418%	4h	0.2839	−0.018%	$5.4M	$9.3M	20x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate USELESS_USDT	+0.0480%	4h	0.2835	−0.155%	$7.1M	$8.2M	50x	as long as short
edgeX USELESSUSDC	+0.0529%	4h	0.2841	+0.054%	$21K	$192K	10x	as long as short
MEXC USELESS_USDT	+0.0542%	4h	0.2840	+0.025%	$10.5M	$6.0M	50x	as long as short
Binance USELESSUSDT	+0.0543%	4h	0.2841	+0.052%	$23.9M	$115.6M	50x	as long as short
Extended USELESS-USD	+0.0544%	1h	0.2840	+0.028%	$300K	$966K	5x	as long as short
ApeX Omni USELESSUSDT	+0.0820%	1h	0.2833	−0.232%	$39K	$701K	25x	as long as short
Aster USELESSUSDT	+0.1162%	4h	0.2837	−0.094%	$653K	$2.2M	10x	as long as short
BingX USELESS-USDT	+0.1162%	4h	0.2840	+0.004%	—	$5.0M	—	as long as short
Bybit USELESSUSDT	+0.1233%	4h	0.2842	+0.088%	$28.2M	$45.4M	13x	as long as short
Orderly PERP_USELESS_USDC	+0.1337%	4h	0.2840	+0.028%	$22K	$1.4M	10x	as long as short
Variational Omni USELESS	+0.1363%	4h	0.2833	−0.218%	$1.2M	$1.7M	—	as long as short
Hyperliquid USELESS	+0.1420%	1h	0.2843	+0.123%	$14.0M	$21.0M	3x	as long as short
BloFin USELESS-USDT	+0.1581%	4h	0.2842	+0.067%	$1.2M	$2.0M	12x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.3004	+5.790%	$5K	$9K	5.5x	as long as short