USELESS

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0832%/8h= −91.1% APRnext payment −$4.16 per $10,000 · paid last 24h −0.143%

Price spread now: Binance against Orderly−0.085%7-day average +0.012% · you buy dearer than you sell

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

Long on Orderly Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.681%−$68 on $10k

Price spread, last 3 days (all we have)+0.188%+$19 · spread now −0.085%, 7d avg +0.012%

Together, before fees−0.493%−$49 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$25 a day on $10k at the current rate, and Binance is 0.097% cheaper against Orderly than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of +0.012%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_USELESS_USDC	0.2820	0.1341	pay 0.0671% / 4h	33m 59s	$22K	$1.4M	10x
Short	Binance USELESSUSDT	0.2818	0.0510	get 0.0255% / 4h	33m 59s	$23.7M	$116.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Orderly. 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 OrderlybpFee BinancebpOrdersPrice spread, now −0.085%Rate

Funding earned: −$174.68
Price spread: −0.085% → +0.012%: −$9.74
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Binance: 5 bp × 2 orders: −$10
Net: −$200.42
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Binance: live order book, 9 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 Binance live order book, 9 min ago	0.35 bp	18.2 bp −$18	97.7 bp −$977	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	0.2820	−0.007%	$1.3M	$1.1M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2814	−0.206%	$31K	$70K	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0100%	4h	0.2818	−0.067%	$9.9M	$66.4M	10x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2817	−0.092%	$34K	$156K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2818	−0.071%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2812	−0.298%	$18K	$495K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2817	−0.117%	$570K	$1.2M	20x	as long as short
ApeX Omni USELESSUSDT	+0.0194%	1h	0.2804	−0.567%	$39K	$700K	25x	as long as short
Aevo USELESS-PERP	+0.0208%	1h	0.2821	+0.027%	$10K	—	3x	as long as short
KuCoin USELESSUSDTM	+0.0288%	4h	0.2816	−0.152%	$5.2M	$10.0M	12x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget USELESSUSDT	+0.0346%	4h	0.2817	−0.096%	$5.3M	$9.4M	20x	as long as short
Gate USELESS_USDT	+0.0394%	4h	0.2814	−0.202%	$7.0M	$8.3M	50x	as long as short
edgeX USELESSUSDC	+0.0506%	4h	0.2813	−0.254%	$21K	$192K	10x	as long as short
MEXC USELESS_USDT	+0.0508%	4h	0.2819	−0.039%	$10.4M	$6.0M	50x	as long as short
Binance USELESSUSDTshort	+0.0510%	4h	0.2818	−0.085%	$23.7M	$116.0M	50x
Extended USELESS-USD	+0.0512%	1h	0.2817	−0.105%	$297K	$966K	5x	as long as short
BingX USELESS-USDT	+0.1040%	4h	0.2821	+0.025%	—	$5.0M	—	as long as short
Bybit USELESSUSDT	+0.1062%	4h	0.2820	−0.007%	$27.8M	$45.7M	13x	as long as short
Aster USELESSUSDT	+0.1107%	4h	0.2816	−0.152%	$647K	$2.3M	10x	as long as short
Variational Omni USELESS	+0.1218%	4h	0.2814	−0.198%	$1.2M	$1.8M	—	as long as short
Orderly PERP_USELESS_USDClong	+0.1341%	4h	0.2820	long leg	$22K	$1.4M	10x
BloFin USELESS-USDT	+0.1395%	4h	0.2815	−0.191%	$1.2M	$2.0M	12x	as long as short
Hyperliquid USELESS	+0.1532%	1h	0.2826	+0.203%	$14.0M	$21.0M	3x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2995	+6.202%	$5K	$9K	5.5x	as long as short