Funding you earn now, next payment 03:00 UTC−0.1255%/8h= −137.4% APRpaid last 24h −0.231%
Price spread now: ApeX Omni against Orderly−0.054%7-day average +0.015% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.852%−$85 on $10k
+Price spread, last 4 days (all we have)+1.431%+$143 · spread now −0.054%, 7d avg +0.015%
=Both sides work against this trade now: funding costs −$38 a day on $10k at the current rate, and ApeX Omni is 0.069% cheaper against Orderly than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.015%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.852% in total (about -44.4% a year). A funding rate is set anew for every payment. 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 | Orderly PERP_USELESS_USDC | 0.2753 | 0.1355 | pay 0.0677% / 4h | 1h 41m | $21K | $1.3M | 10x |
| Short | ApeX Omni USELESSUSDT | 0.2752 | 0.0100 | get 0.0013% / 1h | 41m 24s | $38K | $694K | 25x |
Orderly PERP_USELESS_USDC
ApeX Omni USELESSUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
ApeX Omni against Orderly. 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
- −$263.52
- Price spread: −0.054% → +0.015%
- −$6.9
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee ApeX Omni: 5 bp × 2 orders
- −$10
- Net
- −$286.42
- Costs to cover
- 0.160%
- Break-even
- never at this rate
Slippage unknown: Orderly: no order-book sample; ApeX Omni: live order book, 22 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 Orderly no order-book sample | — | — | — | — | — |
| Sell ApeX Omni live order book, 22 min ago | 7.11 bp | 15.4 bp −$15 | 109.9 bp −$1,099 | doesn't fit | doesn't fit |
Orderly: 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 | 0.2747 | −0.232% | $1.2M | $1.2M | 3x | as long as short |
| Pacifica USELESS | +0.0100% | 1h | 0.2748 | −0.185% | $31K | $70K | 3x | as long as short |
| Gate USELESS_USDT | +0.0100% | 4h | 0.2747 | −0.240% | $6.9M | $8.5M | 50x | as long as short |
| ApeX Omni USELESSUSDTshort | +0.0100% | 1h | 0.2752 | −0.054% | $38K | $694K | 25x | |
| Polymarket Perps USELESS-USD | +0.0100% | 1h | 0.2754 | +0.025% | $33K | $210K | 3x | as long as short |
| SunX USELESS-USDT | +0.0100% | 4h | 0.2758 | +0.174% | — | $1.4M | 10x | as long as short |
| HTX USELESS-USDT | +0.0100% | 4h | 0.2753 | −0.011% | $18K | $506K | 20x | as long as short |
| Phemex USELESSUSDT | +0.0100% | 4h | 0.2751 | −0.094% | $604K | $1.1M | 20x | as long as short |
| OKX USELESS-USDT-SWAP | +0.0133% | 4h | 0.2751 | −0.084% | $9.7M | $64.7M | 10x | as long as short |
| KuCoin USELESSUSDTM | +0.0206% | 4h | 0.2752 | −0.044% | $5.1M | $10.4M | 12x | as long as short |
Lighter USELESS
Pacifica USELESS
Gate USELESS_USDT
Polymarket Perps USELESS-USD
SunX USELESS-USDT
HTX USELESS-USDT
Phemex USELESSUSDT
OKX USELESS-USDT-SWAP
KuCoin USELESSUSDTMShow all 24 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aevo USELESS-PERP | +0.0232% | 1h | 0.2754 | +0.035% | $10K | — | 3x | as long as short |
| Bitget USELESSUSDT | +0.0526% | 4h | 0.2752 | −0.040% | $5.3M | $9.9M | 20x | as long as short |
| edgeX USELESSUSDC | +0.0579% | 4h | 0.2759 | +0.197% | $21K | $194K | 10x | as long as short |
| MEXC USELESS_USDT | +0.0604% | 4h | 0.2753 | 0.000% | $10.8M | $6.0M | 50x | as long as short |
| Binance USELESSUSDT | +0.0605% | 4h | 0.2753 | −0.016% | $23.3M | $118.0M | 50x | as long as short |
| Extended USELESS-USD | +0.0608% | 1h | 0.2748 | −0.186% | $292K | $1.1M | 5x | as long as short |
| Hyperliquid USELESS | +0.0746% | 1h | 0.2757 | +0.113% | $13.5M | $20.9M | 3x | as long as short |
| BingX USELESS-USDT | +0.0864% | 4h | 0.2753 | −0.018% | — | $5.1M | — | as long as short |
| Bybit USELESSUSDT | +0.0911% | 4h | 0.2751 | −0.087% | $26.6M | $46.5M | 13x | as long as short |
| Variational Omni USELESS | +0.0956% | 4h | 0.2742 | −0.411% | $1.2M | $1.7M | — | as long as short |
| Aster USELESSUSDT | +0.1070% | 4h | 0.2753 | −0.002% | $587K | $2.3M | 10x | as long as short |
| BloFin USELESS-USDT | +0.1183% | 4h | 0.2756 | +0.084% | $1.2M | $2.0M | 12x | as long as short |
| Orderly PERP_USELESS_USDClong | +0.1355% | 4h | 0.2753 | long leg | $21K | $1.3M | 10x | |
| Injective USELESS/USDC PERP | +0.5000% | 1h | 0.2909 | +5.658% | $5K | $9K | 5.5x | as long as short |
Aevo USELESS-PERP
Bitget USELESSUSDT
edgeX USELESSUSDC
MEXC USELESS_USDT
Binance USELESSUSDT
Extended USELESS-USD
Hyperliquid USELESS
BingX USELESS-USDT
Bybit USELESSUSDT
Variational Omni USELESS
Aster USELESSUSDT
BloFin USELESS-USDT
Injective USELESS/USDC PERP