USELESS

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0417%/8h= −45.7% APRnext payment −$2.09 per $10,000 · paid last 24h −0.103%

Price spread now: OKX against MEXC−0.048%7-day average −0.071% · you buy dearer than you sell

Net, funding: paid 7d − costs−$101as in the Funding arb table

Net, price: spread back to 7d avg − costs−$80as in the Price arb table

costs, in and out, $10k−$820.821% of the position

Long on MEXC Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.192%−$19 on $10k

Price spread, last 7 days+0.039%+$4 · spread now −0.048%, 7d avg −0.071%

Together, before fees−0.153%−$15 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.023% dearer against MEXC than usual: you sell high and buy low (spread −0.048% now, against its 7-day average of −0.071%): +$2 on $10k if it goes back. Holding the pair costs −$13 a day in funding at the current rate, which eats that in about 4 hours. At the pace of the last 7 days (−0.192% in total) that is about 20 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.192% in total (about -10.0% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.09 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	MEXC USELESS_USDT	0.2713	0.0614	pay 0.0307% / 4h	1h 13m	$10.7M	$6.1M	50x
Short	OKX USELESS-USDT-SWAP	0.2711	0.0197	get 0.0098% / 4h	1h 13m	$9.6M	$63.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against MEXC. 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 MEXCbpFee OKXbpOrdersPrice spread, now −0.048%Rate

Funding earned: −$87.62
Price spread: −0.048% → −0.071%: $2.32
Slippage, 4 orders: −$64.09
Fee MEXC: 4 bp × 2 orders: −$8
Fee OKX: 5 bp × 2 orders: −$10
Net: −$167.39
Costs to cover: 0.821%
Break-even: never at this rate

Slippage from MEXC: live order book, 4 min ago; OKX: live order book, 5 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 MEXC live order book, 4 min ago	0.18 bp	26.0 bp −$26	51.2 bp −$512	126.3 bp −$12.6K	doesn't fit
Sell OKX live order book, 5 min ago	0.73 bp	22.0 bp −$22	115.7 bp −$1,157	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	0.2712	−0.018%	$1.2M	$1.2M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2717	+0.167%	$30K	$70K	3x	as long as short
Gate USELESS_USDT	+0.0100%	4h	0.2707	−0.199%	$6.8M	$8.6M	50x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2712	−0.018%	$38K	$217K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2714	+0.059%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2718	+0.199%	$18K	$512K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2710	−0.100%	$599K	$1.1M	20x	as long as short
OKX USELESS-USDT-SWAPshort	+0.0197%	4h	0.2711	−0.048%	$9.6M	$63.9M	10x
Aevo USELESS-PERP	+0.0232%	1h	0.2727	+0.514%	$10K	—	3x	as long as short
KuCoin USELESSUSDTM	+0.0266%	4h	0.2711	−0.055%	$5.0M	$10.4M	12x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni USELESSUSDT	+0.0270%	1h	0.2742	+1.084%	$38K	$695K	25x	as long as short
Bitget USELESSUSDT	+0.0542%	4h	0.2712	−0.022%	$5.3M	$10.0M	20x	as long as short
edgeX USELESSUSDC	+0.0602%	4h	0.2743	+1.104%	$20K	$196K	10x	as long as short
MEXC USELESS_USDTlong	+0.0614%	4h	0.2713	long leg	$10.7M	$6.1M	50x
Binance USELESSUSDT	+0.0616%	4h	0.2712	−0.015%	$23.0M	$118.4M	50x	as long as short
Extended USELESS-USD	+0.0616%	1h	0.2711	−0.045%	$286K	$1.1M	5x	as long as short
Hyperliquid USELESS	+0.0658%	1h	0.2713	+0.022%	$13.2M	$21.1M	3x	as long as short
BingX USELESS-USDT	+0.0934%	4h	0.2714	+0.041%	—	$5.2M	—	as long as short
Bybit USELESSUSDT	+0.0936%	4h	0.2712	−0.037%	$26.2M	$46.6M	13x	as long as short
Variational Omni USELESS	+0.1001%	4h	0.2743	+1.107%	$1.2M	$1.7M	—	as long as short
Aster USELESSUSDT	+0.1038%	4h	0.2712	−0.029%	$571K	$2.3M	10x	as long as short
BloFin USELESS-USDT	+0.1267%	4h	0.2722	+0.347%	$1.2M	$2.0M	12x	as long as short
Orderly PERP_USELESS_USDC	+0.1387%	4h	0.2715	+0.088%	$21K	$1.3M	10x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2904	+7.071%	$5K	$9K	5.5x	as long as short