Funding you earn now, next payment 04:00 UTC−0.0729%/8h= −79.8% APRnext payment −$3.65 per $10,000 · paid last 24h −0.197%
Price spread now: Bitget against Orderly−0.121%7-day average −0.021% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.816%−$82 on $10k
+Price spread, last 3 days (all we have)+0.093%+$9 · spread now −0.121%, 7d avg −0.021%
=Both sides work against this trade now: funding costs −$22 a day on $10k at the current rate, and Bitget is 0.100% cheaper against Orderly than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.021%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_USELESS_USDC | 0.2810 | 0.1303 | pay 0.0652% / 4h | 2h 10m | $22K | $1.3M | 10x |
| Short | Bitget USELESSUSDT | 0.2807 | 0.0574 | get 0.0287% / 4h | 2h 10m | $5.4M | $9.8M | 20x |
Orderly PERP_USELESS_USDC
Bitget USELESSUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bitget 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
- −$153.1
- Price spread: −0.121% → −0.021%
- −$9.98
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Bitget: 6 bp × 2 orders
- −$12
- Net
- −$181.08
- Costs to cover
- 0.180%
- Break-even
- never at this rate
Slippage unknown: Orderly: no order-book sample; Bitget: live order book, 3 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 Bitget live order book, 3 min ago | 6.37 bp | 33.6 bp −$34 | doesn't fit | 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 23 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 | 0.2804 | −0.214% | $1.3M | $1.2M | 3x | as long as short |
| Pacifica USELESS | +0.0100% | 1h | 0.2806 | −0.159% | $31K | $70K | 3x | as long as short |
| OKX USELESS-USDT-SWAP | +0.0100% | 4h | 0.2809 | −0.032% | $9.9M | $66.0M | 10x | as long as short |
| Gate USELESS_USDT | +0.0100% | 4h | 0.2805 | −0.185% | $7.1M | $8.4M | 50x | as long as short |
| SunX USELESS-USDT | +0.0100% | 4h | 0.2810 | 0.000% | — | $1.4M | 10x | as long as short |
| HTX USELESS-USDT | +0.0100% | 4h | 0.2816 | +0.192% | $18K | $503K | 20x | as long as short |
| Phemex USELESSUSDT | +0.0100% | 4h | 0.2812 | +0.064% | $608K | $1.2M | 20x | as long as short |
| KuCoin USELESSUSDTM | +0.0142% | 4h | 0.2807 | −0.110% | $5.2M | $10.4M | 12x | as long as short |
| Aevo USELESS-PERP | +0.0216% | 1h | 0.2811 | +0.033% | $10K | — | 3x | as long as short |
| Polymarket Perps USELESS-USD | +0.0426% | 1h | 0.2809 | −0.039% | $28K | $202K | 3x | as long as short |
Lighter USELESS
Pacifica USELESS
OKX USELESS-USDT-SWAP
Gate USELESS_USDT
SunX USELESS-USDT
HTX USELESS-USDT
Phemex USELESSUSDT
KuCoin USELESSUSDTM
Aevo USELESS-PERP
Polymarket Perps USELESS-USDShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| edgeX USELESSUSDC | +0.0542% | 4h | 0.2823 | +0.466% | $21K | $195K | 10x | as long as short |
| Extended USELESS-USD | +0.0552% | 1h | 0.2806 | −0.133% | $300K | $1.1M | 5x | as long as short |
| Binance USELESSUSDT | +0.0554% | 4h | 0.2806 | −0.139% | $23.8M | $117.0M | 50x | as long as short |
| MEXC USELESS_USDT | +0.0556% | 4h | 0.2806 | −0.146% | $11.0M | $6.0M | 50x | as long as short |
| Bitget USELESSUSDTshort | +0.0574% | 4h | 0.2807 | −0.121% | $5.4M | $9.8M | 20x | |
| BingX USELESS-USDT | +0.0738% | 4h | 0.2810 | −0.021% | — | $5.1M | — | as long as short |
| Bybit USELESSUSDT | +0.0771% | 4h | 0.2809 | −0.053% | $27.3M | $46.3M | 13x | as long as short |
| ApeX Omni USELESSUSDT | +0.0800% | 1h | 0.2823 | +0.455% | $39K | $698K | 25x | as long as short |
| Variational Omni USELESS | +0.0901% | 4h | 0.2816 | +0.205% | $1.2M | $1.7M | — | as long as short |
| Aster USELESSUSDT | +0.1079% | 4h | 0.2810 | −0.009% | $626K | $2.3M | 10x | as long as short |
| Hyperliquid USELESS | +0.1292% | 1h | 0.2810 | −0.018% | $14.0M | $20.7M | 3x | as long as short |
| Orderly PERP_USELESS_USDClong | +0.1303% | 4h | 0.2810 | long leg | $22K | $1.3M | 10x | |
| Injective USELESS/USDC PERP | +0.5000% | 1h | 0.2989 | +6.345% | $5K | $9K | 5.5x | as long as short |
edgeX USELESSUSDC
Extended USELESS-USD
Binance USELESSUSDT
MEXC USELESS_USDT
BingX USELESS-USDT
Bybit USELESSUSDT
ApeX Omni USELESSUSDT
Variational Omni USELESS
Aster USELESSUSDT
Hyperliquid USELESS
Injective USELESS/USDC PERP