USELESS

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.1222%/8h= −133.8% APRnext payment −$6.11 per $10,000 · paid last 24h −0.260%

Price spread now: OKX against Orderly−0.084%7-day average −0.031% · you buy dearer than you sell

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

Long on Orderly Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.911%−$91 on $10k

Price spread, last 4 days (all we have)+0.729%+$73 · spread now −0.084%, 7d avg −0.031%

Together, before fees−0.182%−$18 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$37 a day on $10k at the current rate, and OKX is 0.052% cheaper against Orderly than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.031%). Swap the legs.

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	OKX USELESS-USDT-SWAP	0.2751	0.0133	get 0.0066% / 4h	1h 41m	$9.7M	$64.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.084%Rate

Funding earned: −$256.66
Price spread: −0.084% → −0.031%: −$5.21
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee OKX: 5 bp × 2 orders: −$10
Net: −$277.86
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; OKX: 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 OKX live order book, 2 min ago	2.00 bp	18.9 bp −$19	120.4 bp −$1,204	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 USELESSUSDT	+0.0100%	1h	0.2752	−0.054%	$38K	$694K	25x	as long as short
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-SWAPshort	+0.0133%	4h	0.2751	−0.084%	$9.7M	$64.7M	10x
KuCoin USELESSUSDTM	+0.0206%	4h	0.2752	−0.044%	$5.1M	$10.4M	12x	as long as short

Show 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