USELESS

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0785%/8h= −85.9% APRnext payment −$3.92 per $10,000 · paid last 24h −0.248%

Price spread now: Gate against Orderly+0.024%7-day average −0.092% · you sell dearer than you buy

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

Long on Orderly Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.831%−$83 on $10k

Price spread, last 3 days (all we have)−0.044%−$4 · spread now +0.024%, 7d avg −0.092%

Together, before fees−0.875%−$87 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.116% dearer against Orderly than usual: you sell high and buy low (spread +0.024% now, against its 7-day average of −0.092%): +$12 on $10k if it goes back. Holding the pair costs −$24 a day in funding at the current rate, which eats that in about 12 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_USELESS_USDC	0.2927	0.1187	pay 0.0593% / 4h	2h 16m	$22K	$1.4M	10x
Short	Gate USELESS_USDT	0.2928	0.0402	get 0.0201% / 4h	2h 16m	$7.3M	$7.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.024%Rate

Funding earned: −$164.79
Price spread: +0.024% → −0.092%: $11.59
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$174.2
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Gate: live order book, 2 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 Gate live order book, 2 min ago	4.94 bp	41.1 bp −$41	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 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	0.2932	+0.157%	$1.4M	$1.1M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2931	+0.109%	$32K	$70K	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0100%	4h	0.2927	−0.027%	$10.5M	$65.4M	10x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2930	+0.075%	$29K	$137K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2930	+0.102%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2912	−0.540%	$20K	$379K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2922	−0.178%	$583K	$1.2M	20x	as long as short
Aevo USELESS-PERP	+0.0240%	1h	0.2932	+0.140%	$11K	—	3x	as long as short
KuCoin USELESSUSDTM	+0.0246%	4h	0.2928	+0.020%	$5.4M	$9.6M	12x	as long as short
Gate USELESS_USDTshort	+0.0402%	4h	0.2928	+0.024%	$7.3M	$7.8M	50x

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni USELESSUSDT	+0.0437%	1h	0.2937	+0.328%	$42K	$699K	25x	as long as short
Bitget USELESSUSDT	+0.0530%	4h	0.2928	+0.017%	$5.5M	$8.7M	20x	as long as short
edgeX USELESSUSDC	+0.0654%	4h	0.2953	+0.878%	$22K	$190K	10x	as long as short
MEXC USELESS_USDT	+0.0660%	4h	0.2932	+0.167%	$10.4M	$5.9M	50x	as long as short
Binance USELESSUSDT	+0.0661%	4h	0.2930	+0.075%	$25.3M	$109.4M	50x	as long as short
Extended USELESS-USD	+0.0664%	1h	0.2934	+0.209%	$309K	$968K	5x	as long as short
Orderly PERP_USELESS_USDClong	+0.1187%	4h	0.2927	long leg	$22K	$1.4M	10x
BingX USELESS-USDT	+0.1200%	4h	0.2933	+0.191%	—	$4.9M	—	as long as short
Bybit USELESSUSDT	+0.1240%	4h	0.2929	+0.061%	$29.5M	$42.6M	13x	as long as short
Variational Omni USELESS	+0.1314%	4h	0.2942	+0.498%	$1.2M	$1.7M	—	as long as short
Aster USELESSUSDT	+0.1395%	4h	0.2931	+0.116%	$677K	$2.1M	10x	as long as short
Hyperliquid USELESS	+0.1602%	1h	0.2933	+0.179%	$15.0M	$19.6M	3x	as long as short
BloFin USELESS-USDT	+0.1681%	4h	0.2928	+0.007%	$1.2M	$2.0M	12x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.3111	+6.262%	$5K	$10K	5.5x	as long as short