USELESS

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0542%/8h= +59.3% APRnext payment +$2.71 per $10,000 · paid last 24h +0.136%

Price spread now: Bybit against OKX−0.102%7-day average +0.038% · you buy dearer than you sell

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$97as in the Price arb table

costs, in and out, $10k−$830.827% of the position

Long on OKX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.236%+$24 on $10k

Price spread, last 7 days+0.107%+$11 · spread now −0.102%, 7d avg +0.038%

Together, before fees+0.344%+$34 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bybit is 0.140% cheaper against OKX than usual: you would sell low and buy high (spread −0.102% now, against its 7-day average of +0.038%). If the spread goes back, that is −$14 on $10k: about 21 hours of funding at the current rate (+$16 a day). At the pace of the last 7 days (+0.236% in total) that is about 4.1 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.236% in total (about 12.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$2.71 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	OKX USELESS-USDT-SWAP	0.2546	0.0210	pay 0.0105% / 4h	53m 48s	$8.8M	$62.4M	10x
Short	Bybit USELESSUSDT	0.2544	0.0752	get 0.0376% / 4h	53m 48s	$24.4M	$48.6M	13x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against OKX. 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 OKXbpFee BybitbpOrdersPrice spread, now −0.102%Rate

Funding earned: $113.81
Price spread: −0.102% → +0.038%: −$13.97
Slippage, 4 orders: −$61.71
Fee OKX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $17.13
Costs to cover: 0.827%
Break-even: 5.9 days

Slippage from OKX: live order book, 5 min ago; Bybit: 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 OKX live order book, 5 min ago	0.39 bp	19.4 bp −$19	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	0.19 bp	23.8 bp −$24	58.6 bp −$586	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	0.2539	−0.283%	$1.2M	$1.2M	3x	as long as short
Hyperliquid USELESS	+0.0100%	1h	0.2547	+0.024%	$11.6M	$22.6M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2541	−0.192%	$28K	$70K	3x	as long as short
Gate USELESS_USDT	+0.0100%	4h	0.2536	−0.397%	$6.4M	$8.6M	50x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2543	−0.141%	$35K	$219K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2541	−0.220%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2535	−0.428%	$17K	$517K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2538	−0.330%	$556K	$1.1M	20x	as long as short
OKX USELESS-USDT-SWAPlong	+0.0210%	4h	0.2546	long leg	$8.8M	$62.4M	10x
Aevo USELESS-PERP	+0.0216%	1h	0.2541	−0.212%	$9K	—	3x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin USELESSUSDTM	+0.0242%	4h	0.2540	−0.232%	$4.6M	$10.6M	12x	as long as short
ApeX Omni USELESSUSDT	+0.0473%	1h	0.2549	+0.110%	$33K	$699K	25x	as long as short
Bitget USELESSUSDT	+0.0476%	4h	0.2541	−0.189%	$4.9M	$10.4M	20x	as long as short
edgeX USELESSUSDC	+0.0546%	4h	0.2552	+0.214%	$19K	$195K	10x	as long as short
MEXC USELESS_USDT	+0.0550%	4h	0.2543	−0.126%	$10.1M	$6.2M	50x	as long as short
Binance USELESSUSDT	+0.0550%	4h	0.2544	−0.082%	$21.2M	$122.7M	50x	as long as short
Extended USELESS-USD	+0.0552%	1h	0.2543	−0.122%	$112K	$1.2M	5x	as long as short
Aster USELESSUSDT	+0.0709%	4h	0.2539	−0.291%	$503K	$2.4M	10x	as long as short
Bybit USELESSUSDTshort	+0.0752%	4h	0.2544	−0.102%	$24.4M	$48.6M	13x
BingX USELESS-USDT	+0.0764%	4h	0.2546	−0.024%	—	$5.3M	—	as long as short
Variational Omni USELESS	+0.0899%	4h	0.2557	+0.421%	$1.0M	$1.8M	—	as long as short
BloFin USELESS-USDT	+0.1030%	4h	0.2544	−0.098%	$1.1M	$1.9M	12x	as long as short
Orderly PERP_USELESS_USDC	+0.1342%	4h	0.2542	−0.157%	$19K	$1.3M	10x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2708	+6.362%	$5K	$11K	5.5x	as long as short